Mumbai, April 08, 2020: MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing companies has announced today that promoters of the company (RCM Group) have Purchased 14.67 lakh shares representing 2.6% of Company’s total shares holding during the Financial year 2019-20.
The company holds an impeccable track record of uninterrupted profitability, Dividend and meeting all its financial obligations in the toughest business environment.
As on date the unexecuted order book of the company stands at Approximately Rs. 2,000 crores to be executed in the next 8 to 9 months.
Recently, the Company has also committed Rs. 1.5 cr. of contribution for fighting against Covid-19 Pandemic.
Commenting on the robust financial health of the company, Dr. R. C. Mansukhani said “Journey so far has been very fulfilling and satisfying, we are guided by the principle that growing in good times is far easier than surviving in tough times. Because of our conservative approach and financial prudence, we have always emerged stronger after any economic crisis. In regards to buying shares from Market, he mentioned that he along with his family has always been buyers only and never ever sold a single share of the Company in the market in more than 30 years of the history of the company”.
About MAN Group
Man Group, promoted by the Mansukhani family in 1970, incorporated its flagship company Man Industries (India) Limited in1988. The Company is a part of the well diversified MAN Group, growing under the dynamic leadership of Dr. R. C. Mansukhani. Starting as an Aluminum Extruder in 1988, MAN Industries is now one of the largest players in large diameter carbon steel line pipes and Coating Systems.
It has state of the art manufacturing facilities with the total combined capacity of 1 Million Metric Tonnes p.a for LSAW and HSAW Pipes and is dedicated to highest Operating and Quality standards, environment protection and Occupational Health & Safety Standards and is accredited by lS0-9001, ISO 14001 & OHSAS 18001 certification. The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange.
Man Industries (India) Limited has been a profit-making company since inception and also a consistent dividend paying company. The company holds an excellent track record of promptly meeting its financial obligations in a timely manner in the toughest market conditions.
