Man Industries has announced its first quarter results. The company's Q1 net profit was up  at Rs 17.35 crores (Rs 173.5 million) as compared to Rs 10.42 crores (Rs 104.2 million) for the same period in the previous year.

Key Takeaways from Man Industries concall:

The company has reported Sales of Rs. 321 Crores as against Rs. 208 crores and net profit of Rs 17.35 crores as compared to Rs. 10.42 crores for the same period in the previous year. 

The QoQ sales have increased by 54% whereas net profit has jumped by whopping 66% for the quarter.

The company expects to improve capacity utilization of the existing facilities substantially in the coming months.

Increase in FII investment limit in the company to 49% from the present limit of 24%

The order book position of the company stands at Rs 2400 crores

New order bid for 1 billion dollar

The company has emerged out as a prominent manufacturer of line pipes and coating system on a global level with a total installed capacity to manufacture over 2500 KM of Line Pipe and with coating Systems every year

Volumes in tonne current quarter was 55000 tonne and Q4 ’07 was also same 

Tax rate was 27% current quarter

New plant capacity 200 thousand tonne

Term Loan : Rs 95 crore outstanding

Working Capital 1100 crore

Cash / credit limit is Rs 100 crore