Man Industries share price crashes 13% after THIS update. Do you own?

Man Industries share price crashed nearly 13 per cent to ₹356 apiece in Tuesday's trading session after markets regulator Securities and Exchange Board of India (SEBI) banned the company and its three senior executives from accessing the securities market for two years.

The company informed that penalty of ₹25,00,000 each have also been imposed on the other three noticees, namely Ramesh Mansukhani - Chairman & Director, Nikhil Mansukhani - Managing Director, and Ashok Gupta - Ex-Chief Financial Officer of the company.

SEBI determined that the company did not consolidate its subsidiary, Merino Shelters, in its financial statements from 2015 to 2021, misreported related-party transactions, and carried out round-tripping of funds to conceal its true financial standing.

However, the company clarified in an exchange filing that the ban and penalty is unlikely to impact its operations.

The company stated that the penalty is insignificant relative to its scale and operations, with no effect on its daily business activities. It added that it remains fully operational and maintains a robust order book of ₹4,700 crore.

“The penalty is minimal in nature when compared to the size and operations of the Company and has no impact on the day-to-day functioning of the business. The Company continues to have a strong order book of over Rs. 4,700 crores and remains fully operational. The Company does not engage in any trading activity in securities markets, and therefore, the directions relating to restrain from accessing the securities market have no impact on its core business operations,” the company said in the filing.

Man Industries Q1 results 2025

Steel pipes manufacturer Man Industries India posted a 45.2 per cent year-on-year (YoY) rise in net profit at ₹27.6 crore for Q1, compared to ₹19 crore in the same quarter last year (Q1FY25).

Revenue from operations remained nearly flat, slipping 0.9 per cent to ₹742.1 crore from ₹749 crore a year ago.

On the operational front, EBITDA jumped 28.2 per cent to ₹49.4 crore in April–July, against ₹38.5 crore in the previous year, while the EBITDA margin expanded to 6.6 per cent from 5.1 per cent in the corresponding quarter of the prior fiscal.

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