Below is the edited transcript of RC Mansukhani's interview with CNBC-TV18
Q: Would the IOC order come at decent margins because some of the PSUs are not know to be giving good margins on projects? So, if you could explain to us how would this aid you topline and bottomline?
A: IOC had cancelled this order. Last year PSL had got this order, it was a rebid for us. In the rebid process we got this order. Its worth is more than Rs 230 crore. We managed to get this order because steel prices have softened. This was an international bid.
Margin would be at comfortable level because the rupee is behaving in a better manner now. We are in a comfortable position now because the rupee is in the range of 61-62/USD and most of the raw material is imported. The margin profit is better than we expected few months ago.
Q: You said this order was Rs 230 crore. Is it Rs 230 crore or Rs 556 crore order that you have won from IOC?
A: No. This order is Rs 230 crore. Including some other domestic orders, our new orders would approximately be Rs 500 crore.
Q: Is it very common this rebidding? Are you getting the sense that perhaps corporates like yours are getting a bit more aggressive and therefore in the rebidding you all are bidding lower and that is how new orders can be won because in general the order pipeline is on the lower side?
A: Rebidding is very rare in our business. In this case, some other bidder was not able to supply in a timely manner, so this PSUs took the route of rebidding and that is how we won the project. We are in a comfortable position. We are going ahead with the project.
Q: If you could give us any numbers in terms of how your overall numbers will look next financial year in terms of EPS and topline?
A: Our first six months were very low compared to last year and compared to several years, but now the market is picking up. Order position right now is around Rs 1000 crore. We will meet our projected turnover given few months before.
The second half would be much better. For 2014-15, 2016-17 and 2017-18 we have larger programme. We will start some value added services in USA. Some new approvals will also come in. Bad time is over we can say and great time is ahead.
Man Industries stock price
On December 11, 2013, Man Industries (India) closed at Rs 56.60, down Rs 0.15, or 0.26 percent. The 52-week high of the share was Rs 152.90 and the 52-week low was Rs 51.10.
The company's trailing 12-month (TTM) EPS was at Rs 8.23 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 6.88. The latest book value of the company is Rs 124.51 per share. At current value, the price-to-book value of the company is 0.45.
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