Man Industries expects Rs 2,000 cr turnover in 2010

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Business

Man Industries expects Rs 2,000 cr turnover in 2010

7/18/2009 1:57:00 PM

Mumbai, Aug (EPC News): Saw pipes maker Man Industries, is aiming to breach the Rs 2,000 crore turnover mark this fiscal on the back of an order-book of Rs 2,500 crore, a huge bid-book and a growing export markets.

“We are confident of achieving a CAGR of 20-25% over the next three to four years. We are eyeing an Rs 2,000 crore plus turnover in the financial year 2010,” K G Mantri, Senior Vice-President Corporate Affairs, Man Industries' said. In FY'09, the company, which primarily caters to the oil and gas sector, clocked a turnover of Rs 1,900 crore and PAT of Rs 47 crore. “We will clock a significant rise in our PAT in FY'10,” Mantri said. The company has recently increased its pipes manufacturing capacity from the earlier 6 lakh tonnes per annum (tpa) to 10 lakh tpa comprising of 5 lakh tonnes each of HSAW and LSAW pipes. Man Industries currently has an order-book position of Rs 2,500 crore and a bid-book size of Rs 5,000 crore.