Short term swing trade (C): Metal & Mining stock | 5-6% target | Indian stock trading picks on 25 Nov 2025

NOTE

Closing Price: ₹468 (as of Nov 24, 2025)
StopLoss*: Apply on the daily close. After the first target, reset the StopLoss to your buying price.
Duration^: Approximate holding period based on the active trading days (excluding market holidays). Actual holding may vary with the market conditions.
Upside Potential#: Based on median of the suggested buy range.

Man Industries (India) Ltd. is a Mumbai-based company (founded in 1988) that makes and sells steel pipes in India and overseas. It produces LSAW and HSAW line pipes, ERW pipes, hot induction bends, and also provides external coatings and internal linings.

Its products are used in the oil & gas, petrochemical, water, dredging, and fertilizer industries. The company also exports a large part of its production.

Website: https://www.mangroup.com/

Q2 FY26 Earnings Call Summary & Financial Highlights

Earnings Call Summary

Best-Ever Profit Margins: EBITDA margin hit a record 12.5%, up sharply from last year. Net profit rose 16% YoY to ₹37 crore, driven by more high-margin coated pipe sales and better cost control.
Strong Order Book = Solid Visibility: Executable order book stands at ₹4,750 crore, ensuring 6–9 months of revenue visibility. Bid pipeline is over ₹15,000 crore, with 80–90% export orders mainly from the GCC and Southeast Asia.
Major Capacity Expansion: Saudi plant to begin production in Q4 FY26; expected margins 12–15%. Jammu stainless steel seamless pipe plant to start by April 2026; expected margins 18–22%. These will help target ₹7,000 crore revenue in FY27.
Strong Growth Outlook: Management expects 20% revenue growth in FY26. H2 FY26 will be the strongest ever with ~₹2,200 crore revenue. Q2 revenue was ₹834 crore, up 3.5% YoY.
Healthy Financials: Company is in net cash of ₹14 crore as of Sept 2025. Debt will rise with new plants, but interest costs remain manageable at ₹120–125 crore annually. Raw material and freight costs are hedged to protect margins.

Financial Highlights

Metric	Q2 FY26	Q1 FY26	QoQ Change	Q2 FY25	YoY Change
Revenue from Operations (₹ Cr)	834	742	12.40%	806	3.50%
EBITDA (₹ Cr)	102	81	25.90%	74	37.80%
EBITDA Margin %	12.50%	10.9%	+160 bps	9.1%	+340 bps
Net Profit (₹ Cr)	37	28	32.10%	32	15.60%
Net Profit Margin %	4.50%	3.8%	+70 bps	3.9%	+60 bps
EPS (₹)	4.93	4.11	20.00%	4.92	0.20%

Price Performance & Volume Analysis

Price Performance

Volume Analysis

Technical Analysis

Key Observations

After a long consolidation, the stock has formed a clear cup-and-handle pattern.
With the fresh breakout, the price is now well-positioned for a potential upside move.

For active traders, a dependable swing trading stock advisor India can make the difference between chasing moves and catching them early.

Technical Image - Daily Timeframe

Technical Indicators

Oscillators

Indicator	Value	Zone
RSI-14	68.81	Neutral
CCI-14	204.68	Overbought
MFI	74.8	Neutral
ROC	11.97	Positive
Stochastic %K	87.31	Overbought
William %R	-1.79	Overbought

Exponential Moving Averages (EMAs)

EMA	Value	Stock Position
5 EMA	344.45	Above
10 EMA	338.14	Above
20 EMA	328.51	Above
50 EMA	320.34	Above
100 EMA	320.97	Above
200 EMA	332.89	Above

Conclusion

Man Industries Stock Price Forecast

Based on our short term stock advice in India, the Man Industries Stock Price target will be INR 490 - INR 495 in the next 12-14 trading sessions.

MONEY MANAGEMENT AND TRADING RULES

Buy within the recommended price range. You may allow up to 1% flexibility beyond the range if needed.
No need to rush. The recommendation remains valid for up to 7 days, not just at market open.
Use a trailing stop-loss to protect and lock in profits.
Diversify your trading capital across our other recommended stocks to reduce risk.
Invest responsibly. Trade only with funds you can afford to lose and hedge positions where appropriate.

Analyst Summary

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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