Man Industries (India) Limited (MANINDS) Fair Value & Analysis
Basic Materials · IN · Market cap ₹44.8B
Fair value as of: Jul 3, 2026
From 25 valuation models · updated today
Share price +17.4% over the past month.
Price vs Fair Value (12 months)
12‑month range ₹310.55 – ₹601.40 · fair‑value band ₹273.18 – ₹482.97 · the ₹582.55 price screens above the ₹386.37 fair value. As of Jul 3, 2026.
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Man Industries (India) Limited (MANINDS) currently trades at ₹582.55, while our model-based Fair Value estimate is ₹386.37 — implying the stock looks roughly 33.7% overvalued today. We read business quality at 49/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).
Over the trailing twelve months, Man Industries (India) Limited generated revenue of ₹35.6B at a net margin of 4.8%. Revenue declined 5.0% year over year. It earns a return on equity of 9.2%. The balance sheet holds a net cash position of ₹292M. Fundamentals as of Jul 3, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.
About the company
Man Industries (India) Limited manufactures, processes, sells, and trades in submerged arc-welded pipes and steel products in India. The company offers longitudinal submerged arc-welded (LSAW) and helically submerged arc-welded (HSAW) line pipes, external coatings and internal linings, electro resistance-welded (ERW) pipes, and hot induction bends (HIB) pipes. It serves customers in the oil, gas, petrochemicals, water dredging, and fertilizer industries. The company exports its products. Man Industries (India) Limited was incorporated in 1988 and is based in Mumbai, India.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Man Industries (India) Limited reported revenue of ₹35.6B in FY2026 versus ₹21.4B in FY2022, a compound +13.6%/yr. Reported net income was ₹1.7B in FY2026, compounding +13.8%/yr from FY2022.
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6 more Steel stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Tata Steel Limited TTST | $0.2110 | $0.0100 | -95% |
| Nucor Corporation NUE | $254.39 | $83.10 | -67% |
| ArcelorMittal S.A ARMT34 | R$166.77 | R$110.23 | -34% |
| JSW Steel Limited JSWSTEEL | ₹1,282 | ₹1,113 | -13% |
| Baoshan Iron & Steel Co 600019 | ¥5.75 | ¥8.07 | +40% |
| China Steel Corporation 2002A | 38.45 TWD | 11.94 TWD | -69% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.