Man Industries Limited reported a 121.7% year-on-year increase in consolidated net profit to ₹82 crore for the quarter ended September 30, 2026, compared with ₹37 crore in the corresponding quarter last year. Consolidated revenue from operations rose 45.1% to ₹1,210 crore in Q2 FY27, against ₹834 crore in Q2 FY26, according to the company's financial results.
The company's consolidated EBITDA increased 86.6% year-on-year to ₹190 crore from ₹102 crore in the year-ago quarter. EBITDA margin expanded 310 basis points to 15.6%, compared with 12.5% in the corresponding period last year. Profit before tax increased 147.6% to ₹122 crore from ₹49 crore a year earlier.
PBT margin improved to 10.1% from 6.1% in Q2 FY26. On a standalone basis, however, revenue from operations declined 7.7% year-on-year to ₹721 crore from ₹782 crore. Standalone EBITDA fell 3% to ₹96 crore against ₹99 crore in the corresponding quarter last year.
EBITDA margin remained unchanged at 12.9%. Standalone net profit increased 12.4% to ₹40 crore from ₹36 crore, while profit before tax rose 28.4% to ₹61 crore compared with ₹48 crore in the year-ago period. The company attributed the impact on standalone revenue to shipping disruptions caused by geopolitical tensions in West Asia, particularly along the Strait of Hormuz.
These disruptions led to port congestion and delays in the dispatch of finished goods, resulting in approximately ₹320 crore of revenue being deferred beyond Q2 FY27. The company said the customer had subsequently nominated alternative ports and the shipments were being executed.
The company's consolidated order book stood at approximately ₹3,500 crore across India and Saudi Arabia, with most of the orders expected to be executed over the next six to nine months. During the quarter, Saudi Arabia-based National Pipe Company , acquired by Man Industries on May 21, 2026, contributed revenue of SAR 208 million , EBITDA of SAR 37 million and net profit of SAR 31 million to the consolidated results for the period from May 21 to September 30.
The company said work on its greenfield stainless steel seamless pipe manufacturing facility in Jammu was progressing as planned, with production expected to begin by April 2027. Its Dammam coating and double jointing facility in Saudi Arabia is targeted to commence operations by March 2027.
Man Industries is also planning to establish a high-frequency submerged arc welded pipe manufacturing facility in the US through its wholly owned subsidiary. The proposed facility will have a capacity of 350,000 metric tonnes per annum, with a planned capital expenditure of $110 million.
Shares of Man Industries closed at ₹874 on the NSE, up ₹33.15 or 3.94%.