Man Industries bags export orders worth ₹405 crore

0

Man Industries (India) Ltd, a manufacturer of large diameter pipes, has bagged an export order worth ₹405 crore from companies in Central Asia, said a top official.

“Despite the ongoing crisis and challenging business environment globally, we are striving to grow our order book and increase the capacity utilisation. We have bagged orders from two oil-producing companies and deliveries would start from October and completed by March 2021,” R. C. Mansukhani, chairman, Man Industries, told The Hindu.

With this, the total unexecuted order book of the company stands at about ₹1,800 crore, out of which 80% is exports. These orders are meant to be executed in the current financial year, he said.

Last year, the company posted a revenue of ₹1,800 crore of which exports accounted for ₹1,000 crore.

The manufacturer of pipes for transporting gas, crude oil, petrochemical products and potable water, had nil sales during April 2020. “In June, we reached 95% of production capacity and currently, we are nearing 100% utilisation. This year, we are planning to grow by 20% to clock a turnover of ₹2,200 crore, with exports of ₹1,500 crore,” he said.

You have reached your limit for free articles this month.

To get full access, please subscribe.

Already have an account ? Sign in

Show Less Plan

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages

Move smoothly between articles as our pages load instantly.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations

A select list of articles that match your interests and tastes.

Briefing

We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

LEAVE A REPLY

Please enter your comment!
Please enter your name here