Man Industries (India) said that the company's New ERW Plant at Anjar, Gujarat, has recently been certified by API to manufacture electric resistance welded (ERW) pipes.
The aforesaid approval would complement the companys existing approvals, which are for the manufacture of helical and longitudinal submerged arc welded carbon steel pipes.
Man Industries further stated that in the mission of high value products, the company has also commenced the commercial production of hot induction bends and the company has also got three prestigious international orders.
This certification reaffirms the company's commitment to upholding global industry standards, ensuring product quality, safety, and efficiency.
"Further, the company would focus on participating in upcoming API ERW pipeline tenders, which will eventually strengthen the financial health of the company, Man Industries said in a statement.
Man Industries is a leading manufacturer and exporter of large diameter carbon steel line pipes for various high pressure transmission applications for gas, crude oil, petrochemical products and potable water.
The company's consolidated net profit slipped 17.7% to Rs 30.60 crore in Q3 FY24 as against Rs 37.20 crore in Q3 FY23. Net sales jumped 26.6% year on year to Rs 833.02 crore during the quarter.
The scrip fell 1.03% to currently trade at Rs 394.90 on the BSE.
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