ETMarkets Management Talk| MAN Industries eyes bigger Saudi footprint; region could contribute 35–40% of revenue in 3 years: Nikhil Mansukhani

In the latest ETMarkets Management Talk, Nikhil Mansukhani, Managing Director of MAN Industries, spoke about the company's expansion into Saudi Arabia and its potential impact on the business. The Q1FY27 results were strong, with EBITDA rising 92.6% YoY and margins expanding to 14.6%. Mansukhani stated that these margins are likely to remain sustainable over the full year as the company focuses on its existing order book, Saudi operations, and higher-value products and markets.

Saudi Arabia is expected to contribute ₹1,200-1,500 crore to FY27 revenue, potentially accounting for 35-40% of consolidated revenue over the next three years. The Dammam coating and double-jointing facility, along with the Jammu stainless-steel seamless pipe plant, are key initiatives that will drive this growth.

Mansukhani emphasized that the company aims to maintain its revenue guidance of around ₹5,000 crore and EBITDA margin guidance of 13-15%. The current guidance already factors in the strong Q1 performance, the ramp-up in Saudi Arabia, and other execution pipeline opportunities. Investors should closely monitor the company's ability to execute its order book and deliver on FY27 guidance, as well as the impact of the Saudi operations on overall revenue and margins.