MAN Industries' shares soar 7 percent on export order that's nearly a third of unexecuted orderbook

MAN Industries, a major exporter of LSAW and HSAW pipes, has bagged a major export order worth Rs 1,700 crore for coated line pipes for a gas pipeline project from an international client, a company filing said on September 3, sending the shares higher by over 7 percent.

The order is expected to be executed within the next 6-12 months, and offers 'higher realizations and strong margins', the company informed.

The order has propped up MAN Industries' total unexecuted orderbook to an all-time high of Rs 4,700 crore, with exports making up nearly 80 percent of the share. The management said it is 'actively bidding' for projects worth around Rs 15,000 crore.

" We are confident of sustaining this momentum through the year and remain on track to deliver the guided 20% topline growth for this fiscal, while continuing to serve both domestic and international markets with distinction," Nikhil Mansukhani, Managing Director of MAN Industries said.