Man Industries shows robust growth in the first nine months net up by 37% and sales up by 34%Financial Results for the first nine months of the financial year 2007-08 as compared to nine months of financial year 2006-07

· For the first nine months of the current financial year, Net Turnover stands at Rs 1043.08crore showing a growth of 34% as compared to Rs 776.79 crore of the first nine months of the previous financial year.

· Net Profit stands at Rs.57.02crore as compared to Rs 41.72crore showing a strong growth of 37%.

· Earnings Per Share (Face Value of Re. 5) stands at Rs 10.70as compared to Rs 7.83 of the nine months of the previous year.

Financial Highlights for the quarter ended Dec 31, 2007

· Total income for the quarter ended 31st Dec 2007 stands at Rs 401.23crore showing strong growth of 29 % as compared to Rs.311.75 crore of the corresponding quarter of the year.

· Net Profit of Q3-08 stands at Rs. 20.73 crore as compared to Rs16.47 crore in Q3 –07. Net profit shows robust growth of 26%

· EPS(Earning per share) of the quarter stands at Rs 3.89 as compared to the EPS of Rs 3.09 of the corresponding quarter of the previous year.

The order book position of the company stands at Rs. 2000 crores. In addition to this the Company has bid for several large projects globally for approx. value of USD one Billion and expects to improve the order book position substantially in the coming months.

After the commissioning of a state-of-the-art line pipe and coating complex at Anjar (Gujarat) in the year 2005, which is the company’s second facility in the country, the company has emerged out as a prominent manufacturer of line pipes and coating system on a global level with a total installed capacity to manufacture over 2500 KM of Line Pipe and over 5.00 Million Sq. Meters of Coating Systems every year.

The Company has already implemented first phase of expansion and commissioned new Spiral Mill of 200, 000 MTPA at Anjar and is in advanced stage of adding one more production line for Spiral Pipes. Both the new mills will start contributing significantly from the fourth quarter onwards.

The Company is executing various major contracts for manufacture and supply of line pipes and coating systems to various clients in India and abroad.

Sourced From: Think PR

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