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Ashish Kacholia buys Man Industries

Our “Master Portfolio Member” Ashish Kacholia’s portfolio is armed with a new stock – Man Industries. On July 8, Ashish Kacholia purchased 5 lakhs equity shares representing 0.88% of total equity of Man Industries at an average price of Rs 110.76 per share. After axiscades, this seems to be his next bet.

About Man Industries
Man Industries (India) Ltd. is a member of the Man Group of India. It 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 has state-of-the-art manufacturing facilities for LSAW & HSAW Line Pipes and also for various types of Anti-Corrosion Coating Systems. The facilities of Man Industries India Limited has been accredited with ISO-9001, ISO-14001 & OHSAS 18001 certification. The company’s Products are Licensed to use the API 5L & 2B Monogram. The company reported a standalone net profit at Rs 44.79 in Q4FY15 against Rs 2.70 crore in the corresponding quarter of previous fiscal.

In May 2015, company received orders worth Rs 510 crore from the international market. The new order intake will result in significant improvement in performance of the company in the current fiscal year. With these new orders, the outstanding executable order book as on date stands at about Rs 1,300 crore. 

The company expects good order inflows in the near future from the outstanding bids which are at various levels of evaluation by the clients. After this news announcement, the stock price has almost doubled from Rs. 64 to Rs. 125, as on July 14th 2015. 

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