Man Industries (India) Limited

NSE: MANINDS · Unclassified

₹797.70+0.21%06 Nov 2026

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Instant answers about Man Industries (India) Limited — computed from its filings, no language model

Market cap₹5,983 cr

Current price₹797.70

High / Low₹1,020 / ₹311

P/E40.1

P/B2.87

Book value₹278.2

ROE7.2%

ROCE17.2%

Debt / equity0.24

Dividend yield—

EPS (TTM)₹19.90

Face value₹5

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	1,759	2,080	2,139	2,231	3,142	3,505	3,564
EBITDA	168	205	181	137	241	301	439
Operating margin	9.5%	9.9%	8.4%	6.1%	7.7%	8.6%	12.3%
Interest	64	53	37	41	88	100	152
Depreciation	52	46	45	45	61	45	79
Profit before tax	65	137	135	90	144	208	237
Tax	10	36	33	22	39	55	66
Net profit	0	0	0	68	0	153	170
EPS ₹	9.72	17.66	17.78	11.33	17.42	23.66	23.65
Operating cash flow	—	—	451	-119	257	67	472
Capex	—	—	46	207	120	154	340
Dividend paid	—	—	0	12	12	0	0
Total assets	—	—	—	1,728	2,415	3,779	5,021
Equity	—	—	—	1,004	1,405	1,607	2,087

Quarterly performance

last 28 quarters · ₹ crore

showing latest 8 of 28 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26
Revenue	239	306	533	682	398	587	555	540	404	490	614	510	465	658	598	490	1,018	833	811	749	806	732	1,218	742	834	830	1,157	1,053
Operating profit	23	27	59	58	43	52	67	42	38	42	41	22	15	59	41	47	70	65	58	38	64	79	121	49	121	128	140	143
Operating margin	9.7%	9.0%	11.1%	8.5%	10.9%	8.9%	12.2%	7.7%	9.5%	8.6%	6.6%	4.3%	3.3%	8.9%	6.8%	9.6%	6.8%	7.8%	7.2%	5.0%	7.9%	10.8%	9.9%	6.6%	14.5%	15.4%	12.1%	13.6%
Other income	6	13	8	-11	12	8	-6	17	7	11	16	12	2	14	11	4	21	14	14	20	11	6	15	31	-19	8	8	12
Interest	13	14	15	22	20	13	9	11	9	8	10	9	9	12	11	21	22	20	25	18	21	26	35	30	30	38	52	40
Depreciation	12	12	13	15	11	12	12	11	11	11	12	12	11	11	11	15	15	16	15	13	11	11	11	13	22	21	23	30
Profit before tax	4	14	39	7	24	35	41	37	25	34	35	14	-3	49	30	14	54	43	32	28	43	47	91	38	49	76	73	85
Tax	1	4	10	-5	7	8	10	11	6	9	9	4	2	12	4	3	15	13	8	8	11	13	23	11	12	21	22	24
Net profit	3	0	0	0	0	27	0	0	0	0	0	10	0	37	26	0	0	0	0	19	32	34	68	28	37	0	51	61
EPS ₹	0.64	1.76	5.13	2.19	3.00	4.78	5.35	4.53	3.38	4.29	4.64	1.63	-0.85	6.20	4.34	1.90	6.68	5.09	4.00	2.94	4.92	5.36	9.15	4.13	4.83	7.64	7.00	8.19
Revenue YoY	—	—	—	—	66.8%	91.9%	4.1%	-20.8%	1.4%	-16.5%	13.7%	26.4%	-5.1%	—	-2.6%	-3.9%	118.9%	26.6%	35.6%	52.7%	-20.8%	-12.1%	50.3%	-0.9%	3.5%	13.4%	-5.0%	41.9%
Profit YoY	—	—	—	—	-100.0%	—	—	—	—	-100.0%	—	—	—	—	—	-100.0%	—	-100.0%	-100.0%	—	—	—	—	44.9%	16.1%	-100.0%	-25.4%	122.5%

Earlier results (standalone, Sep '07 – Mar '19)

₹ crore · from BSE, before the NSE XBRL filings begin

Man Industries (India) Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	1,872	1,524	1,631	1,757	1,462	1,005	1,364	1,391	1,060	1,572	2,215
Operating profit	172	174	158	238	200	55	115	118	46	123	178
Operating margin	9.2%	11.4%	9.7%	13.5%	13.7%	5.5%	8.4%	8.5%	4.3%	7.8%	8.0%
Other income	—	—	—	—	79	31	38	68	77	58	21
Interest	45	39	23	27	44	42	46	54	39	43	65
Depreciation	35	37	39	40	39	32	42	40	40	39	46
Profit before tax	71	101	99	149	142	12	64	92	43	95	87
Tax	24	33	7	47	41	3	11	10	11	32	30
Net profit	47	67	92	102	101	9	54	83	33	63	57

Quarters

showing latest 8 of 47 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†
Revenue	335	401	411	317	377	457	722	322	310	439	453	333	419	440	440	483	446	498	330	326	480	418	237	168	158	315	364	231	276	202	655	405	321	322	343	306	252	211	291	318	284	481	489	633	803	516	265
Operating profit	23	36	39	39	35	48	51	29	22	69	54	51	52	54	0	53	55	56	74	51	56	59	34	15	9	17	14	6	22	15	72	32	36	33	17	13	18	4	11	24	16	22	62	62	84	22	9
Operating margin	7.0%	8.9%	9.5%	12.2%	9.3%	10.5%	7.1%	8.9%	7.2%	15.7%	12.0%	15.4%	12.4%	12.3%	0.0%	10.9%	12.3%	11.3%	22.4%	15.6%	11.6%	14.2%	14.4%	9.0%	5.9%	5.4%	3.7%	2.8%	7.8%	7.2%	11.0%	8.0%	11.3%	10.2%	4.9%	4.3%	7.0%	2.0%	3.7%	7.5%	5.5%	4.5%	12.6%	9.9%	10.5%	4.2%	3.5%
Other income	19	12	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-21	2	51	-3	29	4	10	6	11	15	1	8	13	16	20	18	14	20	17	19	21	10	17	23	8	4	-29	27	18
Interest	6	9	7	9	11	14	11	17	10	11	1	8	6	7	2	8	7	6	6	11	13	11	9	9	9	12	13	9	9	10	17	14	16	13	11	9	12	12	7	10	9	10	14	18	18	16	14
Depreciation	5	8	10	7	8	9	11	7	7	12	11	10	10	10	10	10	10	10	11	9	10	10	10	8	8	8	8	9	10	10	14	9	10	10	10	9	10	11	10	10	10	10	10	11	12	11	12
Profit before tax	31	31	22	22	17	4	29	4	5	47	45	33	37	37	-8	35	38	40	36	32	49	31	29	3	2	3	4	4	4	2	54	25	31	27	9	15	13	1	15	14	14	24	43	38	25	22	2
Tax	12	11	8	8	6	1	9	1	2	16	14	11	11	12	-27	11	12	13	11	7	18	8	9	1	1	1	1	0	0	0	9	8	10	8	-17	6	4	-2	3	4	4	7	16	13	10	7	0
Net profit	19	21	14	15	11	3	19	3	3	31	30	22	25	26	19	24	26	27	25	26	32	24	20	2	2	2	3	3	4	2	45	18	20	19	26	9	9	3	11	10	9	17	26	25	15	16	2
EPS ₹	3.55	3.89	2.66	2.72	2.04	0.51	3.64	0.54	0.59	5.80	5.66	4.06	4.64	4.69	3.50	4.26	4.66	4.97	4.56	4.53	5.55	3.94	3.38	0.40	0.26	0.42	0.47	0.55	0.65	0.33	7.84	3.10	3.55	3.25	4.59	1.57	1.70	0.50	1.99	1.76	1.64	2.98	4.63	4.39	2.66	2.72	0.28
Revenue YoY	—	—	—	—	12.3%	13.8%	75.7%	1.6%	-17.6%	-3.8%	-37.3%	3.3%	34.9%	0.1%	-2.7%	45.3%	6.5%	13.2%	-25.1%	-32.5%	7.8%	-16.0%	-28.2%	-48.6%	-67.1%	-24.6%	53.8%	37.8%	74.6%	-35.9%	79.8%	75.5%	16.2%	59.1%	-47.6%	-24.5%	-21.3%	-34.4%	-15.1%	3.9%	12.6%	128.0%	68.0%	98.9%	182.4%	7.2%	-45.9%
Profit YoY	—	—	—	—	-42.6%	-87.0%	36.6%	-80.3%	-71.1%	1049.4%	55.7%	677.6%	709.6%	-17.0%	-38.2%	6.0%	1.3%	7.1%	35.1%	9.6%	23.0%	-14.2%	-22.0%	-91.2%	-95.2%	-89.8%	-86.3%	38.6%	147.0%	-22.1%	1558.9%	460.4%	444.0%	893.6%	-41.5%	-47.4%	-54.2%	-85.5%	-56.7%	8.0%	0.5%	532.7%	132.9%	149.1%	62.7%	-8.9%	-94.0%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 22 periods

	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26
ROE	—	—	—	—	—	—	—	5.0%	7.3%	6.3%	5.4%	2.2%	0.0%	1.4%	3.5%	5.8%	9.5%	10.1%	8.5%	6.7%	5.5%	7.2%
ROCE	—	—	—	—	—	—	—	13.2%	10.1%	11.1%	15.7%	15.8%	13.5%	14.1%	13.8%	14.4%	14.9%	16.0%	14.4%	16.1%	15.0%	17.2%
Net margin	0.2%	0.0%	1.2%	1.2%	1.3%	1.3%	0.0%	2.1%	3.3%	2.9%	2.3%	0.9%	0.0%	0.6%	1.6%	2.7%	4.4%	4.6%	4.7%	3.7%	3.2%	3.9%
EBITDA margin	9.5%	9.8%	9.7%	10.0%	9.9%	9.6%	9.5%	6.1%	6.1%	7.3%	7.8%	7.6%	7.6%	6.8%	7.0%	7.7%	8.6%	8.9%	10.5%	11.6%	12.3%	13.7%
Debt / equity	—	—	—	—	—	—	—	0.09	0.29	0.29	0.16	0.16	0.22	0.22	0.14	0.14	0.28	0.28	0.23	0.23	0.24	0.24
Interest coverage	2.01	2.19	2.49	2.67	3.59	4.30	4.72	3.38	3.20	2.73	3.27	2.93	2.64	2.86	2.75	2.67	3.09	2.96	2.86	2.92	2.57	2.77
Asset turnover	—	—	—	—	—	—	—	1.21	1.29	1.28	1.18	1.26	1.31	1.41	1.05	1.01	0.93	0.93	0.87	0.90	0.71	0.77

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 8 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26
Share capital	30	30	30	32	32	32	38	38
Other equity / reserves	912	974	1,142	1,372	1,427	1,575	1,929	2,049
Total equity	942	1,004	1,172	1,405	1,460	1,607	1,967	2,087
Borrowings	86	294	189	308	200	456	448	500
Current liabilities	857	564	980	830	1,390	1,985	1,739	2,597
Non-current liabilities	51	159	186	180	209	187	345	337
Total assets	1,850	1,728	2,338	2,415	3,059	3,779	4,050	5,021
Property, plant & equipment	301	489	511	540	538	572	571	655
Capital work-in-progress	70	14	53	31	33	133	143	326
Investments	102	103	30	228	105	26	26	72
Inventories	444	121	697	646	1,108	1,269	937	1,535
Receivables	625	580	539	452	587	993	1,311	1,248
Cash & equivalents	47	37	114	189	67	245	74	189

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	451	-119	257	67	472
Cash from investing	-119	-135	-264	-45	-594
Cash from financing	-267	209	158	34	136
Capex	46	207	120	154	340
Free cash flow	405	-326	137	-87	132
Dividends paid	0	12	12	0	0

Where the assets sit

Mar '26 · ₹ crore

Fixed assets (PPE)

₹655 cr13%

CWIP

₹326 cr6%

Investments

₹72 cr1%

Inventories

₹1,535 cr31%

Receivables

₹1,248 cr25%

Cash & equivalents

₹189 cr4%

Other assets

₹996 cr20%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
Man Industries (India) Limited	5,983	797.70	40.1	2.87	7.2%

StoxGud checklist: Neutral setup · 6/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-11.9%

6 months+49.2%

1 year+92.3%

3Y CAGR+46.9%

5Y CAGR+49.9%

10Y CAGR+31.6%

50-day avg₹835.29

200-day avg₹576.23

RSI (14)42

FAQs

What is the share price of Man Industries (India) Limited?

Man Industries (India) Limited (MANINDS) closed at ₹797.70 on NSE on 06 Nov 2026.

What is the market cap of Man Industries (India) Limited?

₹5,983 crore at the latest close.

What is the P/E ratio of Man Industries (India) Limited?

40.1, on trailing-twelve-month earnings from its filings.

How fast is Man Industries (India) Limited growing?

Man Industries (India) Limited: revenue has compounded at 16.9% a year over three years; net profit at 35.8% a year. Latest-quarter revenue is up 41.9% year on year, profit up 122.5%.

How profitable is Man Industries (India) Limited?

On a trailing-twelve-month basis return on equity is 7.2%, return on capital employed 17.2%, operating margin 13.7%, net margin 3.9%.

How much debt does Man Industries (India) Limited have?

Man Industries (India) Limited is lightly geared: debt to equity is 0.24 with borrowings of ₹500 cr against cash of ₹189 cr (balance sheet of 2026-03-31). Operating profit covers interest 2.8 times.

Financials parsed from Man Industries (India) Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '19, annual from FY20, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.