Man Industries (India) MD, chairman and AGM
NSE: MANINDSBSE: 513269Industrial ProductsSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹798.80.
28 Oct: open ₹794.00, high ₹804.40, low ₹774.65
- Under NSE's long-term additional surveillance, stage I, on the list for 28 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹5,832 Cr931st largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 28.55
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 2.80
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 11.1%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 16.8%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.24
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,90,70549.6% delivered
Man Industries (India)'s chairperson is RAMESHCHANDRA MANSUKHANI and its managing director NIKHIL RAMESHCHANDRA MANSUKHANI, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 25 Sep 2026.
Man Industries (India) board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonRAMESHCHANDRA MANSUKHANI
- Managing directorNIKHIL RAMESHCHANDRA MANSUKHANI
6 directors4 independent2 executive
- RAMESHCHANDRA MANSUKHANI · ChairpersonExecutive · joined May 1988 · reappointed Sep 2023 · 1 listed board
- NIKHIL RAMESHCHANDRA MANSUKHANI · Managing directorExecutive · joined Nov 2011 · reappointed Oct 2023 · 1 listed board · 3 committee seats
- RENU PURSHOTTAM JALANIndependent · joined Mar 2018 · reappointed Mar 2023 · 102 months as independent · 1 listed board · 1 as independent · 3 committee seats, 2 as chair
- NARENDRA MAIRPADYIndependent · joined Feb 2021 · reappointed Feb 2026 · 67 months as independent · 5 listed boards · 5 as independent · 6 committee seats, 3 as chair
- RABI NARAYAN BASTIAIndependent · joined Feb 2024 · reappointed Feb 2024 · 31 months as independent · 3 listed boards · 2 as independent · 4 committee seats, 1 as chair
- ESHA PADMANABHAN ACHANIndependent · joined Nov 2025 · 10 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
1 director who left
- HEENA VINAY KALANTRI, left 31 Mar 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 11 Aug 20266 of 6 present4 independent · 77 days in between
- 25 May 20266 of 6 present4 independent · 3 days in between
- 21 May 20266 of 6 present4 independent · 28 days in between
- 22 Apr 20266 of 6 present4 independent · 17 days in between
1 earlier meeting
- 4 Apr 20266 of 6 present4 independent
Audit Committee
Chair NARENDRA MAIRPADY
NIKHIL RAMESHCHANDRA MANSUKHANI, RENU PURSHOTTAM JALAN
- 11 Aug 20263 of 3 present2 independent · 77 days in between
- 25 May 20263 of 3 present2 independent
- 21 May 20263 of 3 present2 independent
- 22 Apr 20263 of 3 present2 independent
1 earlier meeting
- 4 Apr 20263 of 3 present2 independent
Nomination and remuneration committee
Chair RENU PURSHOTTAM JALAN
NARENDRA MAIRPADY, RABI NARAYAN BASTIA
- 25 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair RENU PURSHOTTAM JALAN
NIKHIL RAMESHCHANDRA MANSUKHANI, RABI NARAYAN BASTIA
- 11 Aug 20263 of 3 present2 independent · 77 days in between
- 25 May 20263 of 3 present2 independent
Risk Management Committee
Chair RAMESHCHANDRA MANSUKHANI
NIKHIL RAMESHCHANDRA MANSUKHANI, RABI NARAYAN BASTIA
- 11 Aug 20263 of 3 present1 independent
Corporate Social Responsibility Committee
Chair RAMESHCHANDRA MANSUKHANI
NIKHIL RAMESHCHANDRA MANSUKHANI, RENU PURSHOTTAM JALAN
- 24 Jul 20262 of 3 present1 independent · 59 days in between
- 25 May 20263 of 3 present1 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- A Sachdev and CoPeer-review certificate valid to Jul 2027
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Man Industries (India) AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Man Industries (India) dividend history
Annual general meeting, 25 Sep 2026
52,868 shareholders on the register on 18 Sep 2026; present: 7 promoters and 34 others; votes counted by Mayank Arora / Mayank Arora & Co..The company's voting result
To receive, consider and adopt the Audited Financial Statements of the Company (including consolidated financial statements) for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 45.41% · promoters 99.47% · institutions 20.91% · other public 2.83%
- Ratification of remuneration payable to Cost Auditor for FY 2026-2027.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.46%
Turnout: all 45.41% · promoters 99.47% · institutions 21.05% · other public 2.83%
- To approve enhancement of limits under Section 185 of the Companies Act, 2013.Special98.02% for1.98% against
Against: promoters 0.00% · institutions 94.84% · other public 0.07%
Turnout: all 45.41% · promoters 99.47% · institutions 21.05% · other public 2.83%
- To approve enhancement of limits under Section 186 of the Companies Act, 2013.Special98.02% for1.98% against
Against: promoters 0.00% · institutions 94.84% · other public 0.07%
Turnout: all 45.41% · promoters 99.47% · institutions 21.05% · other public 2.83%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 10 Feb 2026, 1 resolution
52,510 shareholders on the register on 3 Feb 2026; present: 6 promoters and 30 others; votes counted by Mayank Arora / Mayank Arora & Co..The company's voting result
- To consider, approve and regularize the appointment of Mrs. Esha Padmanabhan Achan (DIN: 10350369), as an Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 32.20% · promoters 73.67% · institutions 7.70% · other public 0.03%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 26 Sep 2025, 4 resolutions
56,399 shareholders on the register on 19 Sep 2025; present: 7 promoters and 33 others; votes counted by Mayank Arora / Mayank Arora & Co..The company's voting result
To receive, consider and adopt the Audited Financial Statements of the Company (including consolidated financial statements) for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.29%
Turnout: all 43.60% · promoters 99.70% · institutions 8.59% · other public 0.37%
- Re-appointment of Mr. Narendra Mairpady (DIN:00536905) as an Independent Director of the Company for a period of 5 (Five) years.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.62%
Turnout: all 43.61% · promoters 99.70% · institutions 8.76% · other public 0.37%
- Appointment of M/s. Mayank Arora & Co., Practicing Company Secretaries as Secretarial Auditors of the Company for a period of 5 (Five) consecutive years from FY 2025-26 to FY 2029-2030.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.29%
Turnout: all 43.61% · promoters 99.70% · institutions 8.76% · other public 0.37%
- Ratification of the remuneration payable to the M/s. M. P. Turakhia & Associates, Cost Auditor for the financial year ending March 31, 2026.Ordinary99.93% for0.07% against
Against: promoters 0.00% · institutions 0.00% · other public 14.85%
Turnout: all 43.61% · promoters 99.70% · institutions 8.76% · other public 0.37%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 25 Jun 2025, 3 resolutions
61,327 shareholders on the register on 18 Jun 2025; present: 7 promoters and 35 others; votes counted by Mayank Arora / Mayank Arora & Co..The company's voting result
- To consider and approve the Increase in Authorized Share Capital of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 54.73% · promoters 99.67% · institutions 11.11% · other public 16.46%
- To consider and approve Issue of Convertible Warrants on a Preferential basis to Promoter GroupSpecialPromoters have an interest in it99.97% for0.03% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 21.83% · promoters 28.46% · institutions 11.11% · other public 16.46%
- To consider and approve Issue and Allotment of Equity Shares on a Preferential basis to Non-PromotersSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 52.63% · promoters 99.67% · institutions 11.11% · other public 12.29%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 18 Dec 2024, 1 resolution
Present: 7 promoters and 34 others.
- To consider and approve the sale of Assets by Merino Shelters Private Limited, wholly owned subsidiary companySpecial98.90% for1.10% against
Against: promoters 0.00% · institutions 25.88% · other public 0.29%
Turnout: all 55.12% · promoters 99.53% · institutions 46.82% · other public 14.13%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 27 Sep 2024, 5 resolutions
Present: 7 promoters and 36 others.
To receive, consider and adopt the Audited Financial Statements of the Company (including consolidated financial statements) for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 51.15% · promoters 99.77% · institutions 58.87% · other public 3.77%
- To confirm payment of the Interim Dividend of Rs. 2/- (i.e. 40%) per equity share already paid to eligible shareholders as the Final Dividend for the financial year 2023-24.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 51.16% · promoters 99.77% · institutions 59.00% · other public 3.77%
- To appoint a director in place of Mrs. Heena Vinay Kalantri (DIN: 00149407), who retires by rotation and being eligible, offers herself for re-appointment.Ordinary96.95% for3.05% against
Against: promoters 0.00% · institutions 40.31% · other public 0.02%
Turnout: all 47.25% · promoters 100.00% · institutions 59.00% · other public 3.77%
- Appointment of the Cost Auditor and Ratification of the remuneration payable to the Cost Auditor for the financial year ending March 31, 2025.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 51.16% · promoters 99.77% · institutions 59.00% · other public 3.77%
- Approval for increase in overall borrowing limits of the Company as per Section 180(1)(c) of the Companies Act, 2013.Special96.03% for3.97% against
Against: promoters 0.00% · institutions 61.43% · other public 0.04%
Turnout: all 51.16% · promoters 99.77% · institutions 59.00% · other public 3.77%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 29 Feb 2024, 2 resolutions
Present: 7 promoters and 32 others.
- To consider and approve Issue and Allotment of Equity Shares on a Preferential basisSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 52.34% · promoters 99.94% · institutions 33.30% · other public 4.03%
- To consider and approve the Appointment of Dr. Rabi Bastia (DIN 05233577), as an Independent DirectorSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 52.34% · promoters 99.94% · institutions 33.30% · other public 4.03%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 1 Nov 2023, 1 resolution
Present: 7 promoters and 27 others.
- To consider and approve Issue of Convertible Warrants on a Preferential basisSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 44.37% · promoters 78.55% · institutions 45.86% · other public 9.25%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 18 Dec 2024, 1 fund house
- To consider and approve the sale of Assets by Merino Shelters Private Limited, wholly owned subsidiary company1 for0 against
Mutual fund votes, meeting of 27 Sep 2024, 1 fund house
To receive, consider and adopt the Audited Financial Statements of the Company (including consolidated financial statements) for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
1 for0 against- To confirm payment of the Interim Dividend of Rs. 2/- (i.e. 40%) per equity share already paid to eligible shareholders as the Final Dividend for the financial year 2023-24.1 for0 against
- To appoint a director in place of Mrs. Heena Vinay Kalantri (DIN: 00149407), who retires by rotation and being eligible, offers herself for re-appointment.1 for0 against
- Appointment of the Cost Auditor and Ratification of the remuneration payable to the Cost Auditor for the financial year ending March 31, 2025.1 for0 against
- Approval for increase in overall borrowing limits of the Company as per Section 180(1)(c) of the Companies Act, 2013.1 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes
Reported in the filing for the quarter to Sep 2026.
- Tax disputeDeputy Commissioner of Income Tax Central Circle 7(2), MumbaiSince 6 May 2022The ITAT, Mumbai bench has given the Order in favour of Company dismissing the revenue appeal, judgement was mentioned as partly allowed .At the filing before: For Assessment year 2020-21, DCIT CC 7(2) had intiated appeal with ITAT Mumbai against the order of CIT (A). The Appeal is under hearing with ITAT Mumbai.
- Tax disputeDeputy Commissioner of Income Tax Central Circle 7(2), MumbaiSince 30 Dec 2022The ITAT, Mumbai bench has given the Order in favour of Company dismissing the revenue appeal.At the filing before: For Assessment year 2021-22, DCIT CC 7(2) had intiated appeal with ITAT Mumbai against the order of CIT (A). The Appeal is under hearing with ITAT Mumbai.
- Tax disputeITO (TDS)Since 31 Dec 2007Hon'ble High Court of Gujarat, Ahmedabad Bench has decided in favour of the Company.
At the filing before: The case was decided in MAN's favour in by the Commissioner Income Tax (Appeals) and refund received. ITO (TDS) appealed in the Income Tax Appllate Tribunal and the case has been decided in Department's favour on 12.10.2009. Appeal filed on 08.02.2010.MoreLess
- Tax disputeJt Comm GST Appeal - RajkotSince 26 Jun 2018Final decision in favour of the Company, Demand is dropped.At the filing before: Appeal Filed at JC GST Appeals- Rajkot on 18.09.2018. Against the Excess Utilisation of IGST during Refund filled of Sept 17.
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the raise it states is more than ten times everything the company owns, a figure typed at the wrong scale.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesAug 2025 | – | General Corporate Purpose | – | – | No |
| Preferential IssuesJul 2025, checked by CRISIL Ratings Limited | – | Meeting Working Capital Requirements | – | – | No |
| Preferential IssuesJul 2025, checked by CRISIL Ratings Limited | – | Expansion of the existing business of the Company | – | – | No |
| Preferential IssuesJul 2025, checked by CRISIL Ratings Limited | – | General Corporate Purpose | – | – | No |