Man Industries (India) Limited (513269) Earnings Call Transcript & Summary

But it's time to switch focus -- focusing on 1 or 2 stocks companies, which we always do on this show. Let me start off by introducing Man Industries. Company is in focus INR 400 crore order win. We have the management, Ramesh Chandra Mansukhani, who's the Chairman of Man Industries with us to talk to us about that.

When the stock is up and away in trade, if we can have the graph of the stock as well, and that will indicate that the stock is up and away. Sir, it's a large order. Firstly, welcome to NDTV Profit. Good morning. So I think we are on a patchy line there. But there you go, the stock of Man Industries up 6% on the back of that order win. In terms of the Q2 numbers, you saw a good solid set come in. Of course, now we're at the cusp of Q3, but that's probably just to give you a perspective on where we were at the end of Q2, so that one understands as to how large the order is. Q2 in terms of revenue, the company did around INR 1,037-odd crores of revenue. So the INR 400 crore order win is quite large. Also, it has an order book of INR 1,300 crores, and we have Ramesh Chandra Mansukhani back with us. Sir, talk to us about this INR 400 crore order. It's a largest order when I'm looking at the way the company is performing and playing out, but talk to us more about this. The order pipeline currently is roughly INR 1,300 crores. You have 6-odd months to execute these is what you've indicated. What's the traction like in the market? Are we seeing or are we expected to see bigger and better order wins coming through both in FY '24 for whatever is left as well as in the first half of FY '25, what's the visibility like?

Yes. Yes. Good morning, Hersh. Thank you. The order book is comfortable. This INR 400 crores historically is not a very big order in our company. But this is a good order we can say, and the bid whatever we participated this time worldwide is approximately INR 14,000 to INR 15,000 crores. So this is an ongoing process. We have to declare this thing because we got the mix of the order, not a single order, but good order mix. It will be completed in 6 months, and we are awaiting some other news also in coming times.

Right, sir. Sir, when I'm looking at your numbers, you clocked around INR 2,200-odd crore of revenue in the last year FY '23. You have guided for a roughly INR 3,000 kind of -- INR 3,000 crores kind of a number in FY '24. How confident are you of achieving that? That's my first point. Second point, as you start executing, would you want to build up a larger order book than the INR 1,300-odd crores of order book that you already have?

Yes, to achieve whatever target we kept last year, to achieving we are close, that we will achieve it. We are expecting to achieve it. And the futuristic, right now, it is not good to announce anything because our results only next week. So that's why we are carefully in the guidance, but company order book is comfortable, bid is comfortable, growth moment will continue, the new businesses, which are coming, which will continue growth bolstered. That's why I can say overall, the things are very positive as regard to Man Industries.

Understood. Sir, when it comes to margins, right, as you continue to grow your order book and overall, we are seeing good traction in the infra space. So as you continue to grow your order book, how are margins really expected to trend? Because you are currently at higher single digits, would one expect you to go into double digits in the current financial year? Would you probably hope to do that in FY '25? Where should that trend?