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The steel pipes maker stated that the aforesaid order is the largest single order in the company’s history.
The contract is for supplying high value-added line pipes of API 5L Grade for this mega offshore (oil & gas) project. This order is expected to be delivered during the next 12 to 18 months.
The value of the aforementioned order is nearly 0.62 times the full market capitalization of Man Industries, which as of previous close stood at Rs 3,000.15 crore.
Man Industries is a leading manufacturer and exporter of large diameter carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable water.
The company's consolidated net profit slipped 19.10% to Rs 24.13 crore despite of 35.64% jump in revenue from operations to Rs 810.68 in Q4 FY24 over Q4 FY23.
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