business π Saudi buy could change pipe maker's game
Man Industries completed its first overseas acquisition of a pipe maker from Saudi Arabia in late May. Ashish Kacholia's portfolio holding saw Q1 revenue hit Rs.1,053 crore, while net profit jumped 117.9% year-over-year. The Saudi acquisition, initially contributing Rs.43 crore, is expected to bring in Rs.300β500 crore per quarter starting in Q2 FY27. This shift could transform the company from an Indian focus to one with a major foreign subsidiary. Investors need to watch if the ramp-up matches the high guidance for FY27 and beyond. π