Pipe manufacturing company MAN Industries today said that it has secured new orders worth Rs 1,100 crore during the current quarter. With this, the company's domestic orders stand at Rs 700 crore while its export orders are to the tune of Rs 400 crore, the company said in a statement today.
MAN Industries is a manufacturer of SAW Pipes (Line Pipes) and coating systems for high-pressure Oil and Gas applications with a potential production capacity of approximately one million metric tonne of SAW pipes per annum.
The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with Dubai International Financial Exchange (DIFX).
The company also said that it has received domestic orders from GAIL for over Rs 325 crores while it has already bagged export orders from various countries in west Asia.
It is noteworthy that this order intake coincides with easing of steel availability and downward trend in the metal prices globally, facts which augur well for the future prospects of the company.
