Man Industries (India) Valuation Multiples

Man Industries (India) is valued at $637M as of November 2026, a 1.4x revenue multiple. In the last 12 months, Man Industries (India) revenue was $476M and Man Industries (India) EBITDA was $63M.

Man Industries (India) Overview

About Man Industries (India)

Man Industries (India) Ltd isengaged in the business of manufacturing, processing and trading of submerged arc welded steel pipes and steel products. It offers the product which includes LSAW HSAW, Coating, ERW, and HIB. In addition, it also caters to its international clients in the oil and gas industry, petrochemicals, water, dredging, fertilizers and part of infrastructure projects.


Founded

1988

HQ

India

Employees

796

Financials (LTM)

Revenue: $476M
EBITDA: $63M

EV

$676M

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Man Industries (India) Financials

Man Industries (India) reported last 12-month revenue of $476M and EBITDA of $63M.

In the same LTM period, Man Industries (India) generated $180M in gross profit, $63M in EBITDA, and $27M in net income.

Revenue (LTM)


Man Industries (India) P&L

In the most recent fiscal year, Man Industries (India) reported revenue of $373M and EBITDA of $42M.

Man Industries (India) is profitable as of last fiscal year, with gross margin of 32%, EBITDA margin of 11%, and net margin of 5%.

See analyst estimates for Man Industries (India)
LTMLast FY202320242025202620272028
Revenue$476M$373M$303M$354M$366M
Gross Profit$180M$120M$52M$62M$105M
Gross Margin38%32%17%18%29%
EBITDA$63M$42M$24M$31M$39M
EBITDA Margin13%11%8%9%11%
EBIT Margin11%12%6%7%11%
Net Profit$27M$18M$10M$15M$17M
Net Margin6%5%3%4%5%
Net Debt-$40M---

Financial data powered by Morningstar, Inc.

Man Industries (India) Stock Performance

Man Industries (India) has current market cap of $637M, and enterprise value of $676M.

Market Cap Evolution


Man Industries (India)'s stock price is $8.49.

Man Industries (India) share price increased by 11.2% in the last 30 days, and by 62.7% in the last year.

Man Industries (India) has an EPS (earnings per share) of $0.24.

See more trading valuation data for Man Industries (India)
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$676M$637M0.0%11.2%7.5%62.7%$0.24

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Man Industries (India) Valuation Multiples

Man Industries (India) trades at 1.4x EV/Revenue multiple, and 10.7x EV/EBITDA.

See NTM and 2027E valuation multiples for Man Industries (India)

EV / Revenue (LTM)


Man Industries (India) Financial Valuation Multiples

As of November 8, 2026, Man Industries (India) has market cap of $637M and EV of $676M.

Man Industries (India) has a P/E ratio of 23.4x.

LTMLast FY202320242025202620272028
EV/Revenue1.4x1.8x2.2x1.9x1.8x
EV/EBITDA10.7x16.2x28.0x21.9x17.4x
EV/EBIT12.9x14.6x39.1x26.5x16.4x
EV/Gross Profit3.8x5.6x13.1x10.8x6.5x
P/E23.4x35.2x63.6x43.1x36.6x
EV/FCF(7.7x)n/mn/m(58.7x)(127.2x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Man Industries (India) Margins & Growth Rates

Man Industries (India) grew revenue by 46% and EBITDA by 76% in the last fiscal year.

In the most recent fiscal year, Man Industries (India) reported gross margin of 32%, EBITDA margin of 11%, and net margin of 5%.

See estimated margins and future growth rates for Man Industries (India)

Man Industries (India) Margins

Last FY202420252026202720282029
Gross Margin32%18%29%37%
EBITDA Margin11%9%11%13%
EBIT Margin12%7%11%12%
Net Margin5%4%5%6%
FCF Margin(0%)(3%)(1%)(23%)

Man Industries (India) Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth46%17%3%36%
Gross Profit Growth72%21%68%76%
EBITDA Growth76%28%26%68%
EBIT Growth32%47%61%40%
Net Profit Growth84%48%18%70%
FCF Growth51285%(816%)(54%)2071%

Data powered by FactSet, Inc. and Morningstar, Inc.

Man Industries (India) Operational KPIs

Man Industries (India)'s revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.1M for the same period.

Man Industries (India)'s Rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Man Industries (India)'s Rule of X is 104% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Man Industries (India)
LTMLast FY202320242025202620272028
Rule of 4046%50%---
Bessemer Rule of X96%104%---
Revenue per Employee-$0.5M---
Opex per Employee-$0.1M---
S&M Expenses to Revenue-15%7%6%12%
G&A Expenses to Revenue-0%0%0%0%
Opex to Revenue-20%11%10%17%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Man Industries (India) Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Acquisitions by Man Industries (India)

Man Industries (India) has acquired 1 company to date.

Last acquisition by Man Industries (India) was on May 20th 2026. Man Industries (India) acquired National Pipe Company for $102M (EV/Revenue multiple available to Pro users).

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Latest Acquisitions by Man Industries (India)

National Pipe Company
Description
National Pipe Company is a manufacturer and supplier of longitudinal and helical pipes.
HQ CountrySaudi Arabia
HQ City
Dammam
Deal Date20 May 2026
Valuation$102M
EV/Revenue
EV/EBITDA

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About Man Industries (India)

When was Man Industries (India) founded?Man Industries (India) was founded in 1988.
Where is Man Industries (India) headquartered?Man Industries (India) is headquartered in India.
How many employees does Man Industries (India) have?As of today, Man Industries (India) has over 796 employees.
Is Man Industries (India) publicly listed?Yes, Man Industries (India) is a public company listed on Bombay Stock Exchange.
What is the stock symbol of Man Industries (India)?Man Industries (India) trades under 513269 ticker.
When did Man Industries (India) go public?Man Industries (India) went public in 2005.
Who are competitors of Man Industries (India)?Man Industries (India) main competitors include
What is the current market cap of Man Industries (India)?Man Industries (India)'s current market cap is $637M.
What is the current revenue of Man Industries (India)?Man Industries (India)'s last 12 months revenue is $476M.
What is the current revenue growth of Man Industries (India)?Man Industries (India) revenue growth (NTM/LTM) is 33%.
What is the current EV/Revenue multiple of Man Industries (India)?Current revenue multiple of Man Industries (India) is 1.4x.
What is the current EBITDA of Man Industries (India)?Man Industries (India)'s last 12 months EBITDA is $63M.
What is Man Industries (India)'s EBITDA margin?Man Industries (India)'s last 12 months EBITDA margin is 13%.
What is the current EV/EBITDA multiple of Man Industries (India)?Current EBITDA multiple of Man Industries (India) is 10.7x.
What is the current FCF of Man Industries (India)?Man Industries (India)'s last 12 months FCF is ($88M).
What is Man Industries (India)'s FCF margin?Man Industries (India)'s last 12 months FCF margin is (18%).
What is the current EV/FCF multiple of Man Industries (India)?Current FCF multiple of Man Industries (India) is (7.7x).
How many companies Man Industries (India) has acquired to date?As of November 2026, Man Industries (India) has acquired 1 company.
What was the largest acquisition by Man Industries (India)?$102M acquisition of National Pipe Company on 20th May 2026 was the largest M&A Man Industries (India) has done to date.
What companies Man Industries (India) acquired?Man Industries (India) acquired National Pipe Company.
In how many companies Man Industries (India) has invested to date?Man Industries (India) hasn't invested in any companies yet (or none have been disclosed publicly).

Lists including Man Industries (India)

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