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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Man Industries (India) Limited is an India-based company, which is engaged in the business of manufacturing, processing, and trading of submerged arc welded steel pipes and steel products. It specializes in the manufacturing and coating of large-diameter carbon steel pipes,…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, fast-growing business, priced for perfection — but flagged on governance.
Man Industries is scored on the commodity / cyclical framework. It keeps a slim 4.8% of every rupee of sales as net profit. Those profits are backed by real cash — operating cash flow runs 2.77× reported profit. Free cash flow is worth about -2.0% of its market value.
Over the last 3 years revenue compounded at 17%/yr and profit at 37%/yr. Book value itself has compounded 23%/yr — the hallmark of a genuine compounder. Return on equity is a modest 8.2%. In the latest quarter profit grew 21% versus the prior quarter.
At 34× earnings, the stock sits at the 93rd percentile of its own 3.6-year range — the expensive end of where it has historically traded. Today's price implies ~14%/yr earnings growth for a decade. The forensic screen raises a red flag: Share count up 20% over 4 years — heavy equity dilution.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 29.34 | 21.11 | worse |
| P/B | 2.89 | 2.12 | worse |
| EV/EBITDA | 10.98 | 8.94 | worse |
| ROE | 8.17 | 18.05 | worse |
| ROCE | 14.3 | 11.11 | better |
| ROA | 4.07 | 3.13 | better |
| Quick Ratio | 0.77 | 3.33 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| JSW Steel | 10.5 | 2.9 | 11.9% |
| Tata Steel | 20.6 | 2.3 | 10.6% |
| Jindal Steel & Power | 41.5 | 2.3 | 6.2% |
Revenue has grown every year across all 4 financial years shown. 17% CAGR over 3 years — steady double-digit compounder. Growth is decelerating — latest year grew slower than the year before.
Net profit has risen every year — the hallmark of a compounder. Profit is growing faster than revenue (36% vs 17%) — margin expansion is at work.
Operating margin has expanded from 4% to 7% — the business is keeping more of each rupee earned.
ROE at 8% — modest; the capital isn't working hard. Low variance across years — a predictable business that earns steadily on its equity base.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. Profit grew faster than EPS (36% vs 28%) — share dilution is eroding per-share value. 28% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
1 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Cash conversion at 2.8× PAT — earnings are well-backed by cash; strong accrual quality. Investing outflows exceed operating cash — the company relies on external funding to finance expansion.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 9% QoQ — could be seasonality or a genuine slowdown. Wide quarterly swings (30% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 35% above earlier ones.
Profit jumped 21% QoQ — check if this is operating leverage or a one-off item.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters at 43.2% — dispersed ownership; institutional flows drive the stock.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.