{"id":299980,"date":"2026-10-09T18:03:04","date_gmt":"2026-10-09T12:33:04","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=299980"},"modified":"2026-10-09T18:03:04","modified_gmt":"2026-10-09T12:33:04","slug":"man-industries-india-share-price-target-2027","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/","title":{"rendered":"Man Industries (India) Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Man Industries (India) share price Rs 867.90 (9 October 2026). Base target Rs 1,010, bull Rs 1,221, downside risk Rs 686. PE 31.46. 52W range Rs 302.05 to Rs 1,039.70.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Man Industries (India) share price target for 2027 is Rs 1,010, about 16.4% above the current price of Rs 867.90. The bull case is Rs 1,221, and the downside risk level, which is not a target, is Rs 686. The base case assumes earnings per share grow 17.9% a year, the pace seen from FY24 to FY26, with the stock holding its PE of 31.46. These are model-based estimates built from reported financials, not guaranteed outcomes.<\/p>\n<\/p><\/div>\n<p>Investors weighing a Man Industries (India) target price for 2027 should start with where the stock sits today. At Rs 867.90 on 9 October 2026, it is 16.5% below its 52-week high of Rs 1,039.70 and 187.3% above its 52-week low of Rs 302.05. That range spans 244% from low to high, so the entry point matters as much as the Man Industries (India) price forecast itself.<\/p>\n<p>This article builds the Man Industries (India) share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 1,010 base case and the Rs 1,221 bull case were reached, along with a downside risk level of Rs 686.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=man-industries-india-share-price-target-2027\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Man_Industries_India_Stock_Analysis_Company_Overview_and_Key_Stats\" title=\"Man Industries (India) Stock Analysis: Company Overview and Key Stats\">Man Industries (India) Stock Analysis: Company Overview and Key Stats<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Why_Is_Man_Industries_India_Share_Price_Target_Set_at_Rs_1010_for_2027\" title=\"Why Is Man Industries (India) Share Price Target Set at Rs 1,010 for 2027?\">Why Is Man Industries (India) Share Price Target Set at Rs 1,010 for 2027?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Earnings_Growth_Behind_the_Man_Industries_India_Target_Price_Five_Years_of_Results\" title=\"Earnings Growth Behind the Man Industries (India) Target Price: Five Years of Results\">Earnings Growth Behind the Man Industries (India) Target Price: Five Years of Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Margins_and_the_Latest_Quarter\" title=\"Margins and the Latest Quarter\">Margins and the Latest Quarter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Balance_Sheet_and_Cash_Flow\" title=\"Balance Sheet and Cash Flow\">Balance Sheet and Cash Flow<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Valuation_Check_for_the_Man_Industries_India_Stock_Target_PE_Price_to_Book_and_ROE\" title=\"Valuation Check for the Man Industries (India) Stock Target: PE, Price to Book and ROE\">Valuation Check for the Man Industries (India) Stock Target: PE, Price to Book and ROE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Shareholding_Pattern_and_Institutional_Holding\" title=\"Shareholding Pattern and Institutional Holding\">Shareholding Pattern and Institutional Holding<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Man_Industries_India_Share_Price_Targets_for_the_Short_Term_and_12_Months\" title=\"Man Industries (India) Share Price Targets for the Short Term and 12 Months\">Man Industries (India) Share Price Targets for the Short Term and 12 Months<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Short_Term_Man_Industries_India_Stock_Target_Levels_Technical_Setup\" title=\"Short Term Man Industries (India) Stock Target Levels: Technical Setup\">Short Term Man Industries (India) Stock Target Levels: Technical Setup<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#12_Month_Man_Industries_India_Target_Price_for_2027\" title=\"12 Month Man Industries (India) Target Price for 2027\">12 Month Man Industries (India) Target Price for 2027<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#How_EPS_Growth_and_PE_Multiple_Change_the_Man_Industries_India_Target_Price\" title=\"How EPS Growth and PE Multiple Change the Man Industries (India) Target Price\">How EPS Growth and PE Multiple Change the Man Industries (India) Target Price<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Bull_Case_and_Downside_Risk_for_Man_Industries_India_Stock_Target_in_2027\" title=\"Bull Case and Downside Risk for Man Industries (India) Stock Target in 2027\">Bull Case and Downside Risk for Man Industries (India) Stock Target in 2027<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Bull_Case_Rs_1221\" title=\"Bull Case Rs 1,221\">Bull Case Rs 1,221<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Downside_Risk_Level_Rs_686\" title=\"Downside Risk Level Rs 686\">Downside Risk Level Rs 686<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Key_Risks_to_the_Man_Industries_India_Target_Price_for_2027\" title=\"Key Risks to the Man Industries (India) Target Price for 2027\">Key Risks to the Man Industries (India) Target Price for 2027<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Growth_Slowdown_Risk_for_the_Man_Industries_India_Price_Target\" title=\"Growth Slowdown Risk for the Man Industries (India) Price Target\">Growth Slowdown Risk for the Man Industries (India) Price Target<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Liquidity_and_Size_Risk\" title=\"Liquidity and Size Risk\">Liquidity and Size Risk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Valuation_and_Margin_Risk\" title=\"Valuation and Margin Risk\">Valuation and Margin Risk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Market_and_Technical_Risk\" title=\"Market and Technical Risk\">Market and Technical Risk<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#How_to_Invest_in_Man_Industries_India\" title=\"How to Invest in Man Industries (India)\">How to Invest in Man Industries (India)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#FAQs_on_Man_Industries_India_Share_Price_Target_2027\" title=\"FAQs on Man Industries (India) Share Price Target 2027\">FAQs on Man Industries (India) Share Price Target 2027<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#What_is_the_Man_Industries_India_share_price_target_for_2027\" title=\"What is the Man Industries (India) share price target for 2027?\">What is the Man Industries (India) share price target for 2027?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#What_is_the_Man_Industries_India_share_price_today\" title=\"What is the Man Industries (India) share price today?\">What is the Man Industries (India) share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Is_Man_Industries_India_a_buy_or_sell_at_the_current_price\" title=\"Is Man Industries (India) a buy or sell at the current price?\">Is Man Industries (India) a buy or sell at the current price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#What_are_the_bull_case_target_and_downside_risk_level_for_Man_Industries_India_shares\" title=\"What are the bull case target and downside risk level for Man Industries (India) shares?\">What are the bull case target and downside risk level for Man Industries (India) shares?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#What_are_the_main_risks_to_the_Man_Industries_India_price_target\" title=\"What are the main risks to the Man Industries (India) price target?\">What are the main risks to the Man Industries (India) price target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#What_is_the_PE_ratio_of_Man_Industries_India_and_how_does_it_compare_with_the_industry\" title=\"What is the PE ratio of Man Industries (India) and how does it compare with the industry?\">What is the PE ratio of Man Industries (India) and how does it compare with the industry?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#Who_owns_Man_Industries_India_and_what_is_the_promoter_holding\" title=\"Who owns Man Industries (India), and what is the promoter holding?\">Who owns Man Industries (India), and what is the promoter holding?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/univest.in\/blogs-2\/man-industries-india-share-price-target-2027\/#What_were_Man_Industries_Indias_latest_quarterly_results\" title=\"What were Man Industries (India)&#8217;s latest quarterly results?\">What were Man Industries (India)&#8217;s latest quarterly results?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Man_Industries_India_Stock_Analysis_Company_Overview_and_Key_Stats\"><\/span><strong>Man Industries (India) Stock Analysis: Company Overview and Key Stats<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Man Industries (India) (NSE: MANINDS) has a market capitalisation of Rs 6,427 crore. In FY26 it reported revenue of Rs 3,592 crore and net profit of Rs 170.49 crore. The table collects the figures the Man Industries (India) share price target is built on.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\" border=\"1\" cellpadding=\"8\">\n<tr>\n<th>Metric<\/th>\n<th>Value<\/th>\n<\/tr>\n<tr>\n<td>Company<\/td>\n<td><a href=\"https:\/\/univest.in\/stocks\/maninds\/man-industries-(india)-ltd-share-price-today\">Man Industries (India)<\/a><\/td>\n<\/tr>\n<tr>\n<td>NSE Ticker<\/td>\n<td>MANINDS<\/td>\n<\/tr>\n<tr>\n<td>CMP (9 October 2026)<\/td>\n<td>Rs 867.90<\/td>\n<\/tr>\n<tr>\n<td>52-Week High<\/td>\n<td>Rs 1,039.70<\/td>\n<\/tr>\n<tr>\n<td>52-Week Low<\/td>\n<td>Rs 302.05<\/td>\n<\/tr>\n<tr>\n<td>Market Cap<\/td>\n<td>Rs 6,427 crore<\/td>\n<\/tr>\n<tr>\n<td>PE Ratio (TTM)<\/td>\n<td>31.46<\/td>\n<\/tr>\n<tr>\n<td>Industry PE<\/td>\n<td>22.91<\/td>\n<\/tr>\n<tr>\n<td>Price to Book<\/td>\n<td>3.10<\/td>\n<\/tr>\n<tr>\n<td>Return on Equity<\/td>\n<td>8.17%<\/td>\n<\/tr>\n<tr>\n<td>Debt to Equity<\/td>\n<td>0.30<\/td>\n<\/tr>\n<tr>\n<td>EPS (TTM)<\/td>\n<td>Rs 27.24<\/td>\n<\/tr>\n<tr>\n<td>Dividend Yield<\/td>\n<td>0.00%<\/td>\n<\/tr>\n<tr>\n<td>12-Month Base Target<\/td>\n<td>Rs 1,010<\/td>\n<\/tr>\n<tr>\n<td>Bull Case<\/td>\n<td>Rs 1,221<\/td>\n<\/tr>\n<tr>\n<td>Downside Risk Level (not a target)<\/td>\n<td>Rs 686<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Why_Is_Man_Industries_India_Share_Price_Target_Set_at_Rs_1010_for_2027\"><\/span><strong>Why Is Man Industries (India) Share Price Target Set at Rs 1,010 for 2027?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The base-case Man Industries (India) stock target of Rs 1,010 applies a PE multiple of 31.46 to a forward EPS estimate of Rs 32.12. That EPS assumes 17.9% yearly growth, the pace from FY24 to FY26, and puts the target 16.4% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Earnings_Growth_Behind_the_Man_Industries_India_Target_Price_Five_Years_of_Results\"><\/span><strong>Earnings Growth Behind the Man Industries (India) Target Price: Five Years of Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Man Industries (India) grew revenue from Rs 2,176 crore in FY22 to Rs 3,592 crore in FY26, a compound annual growth rate of 13.4%. Net profit grew faster, from Rs 101.58 crore to Rs 170.49 crore (13.8% a year), which shows margin gains did part of the work and not just higher sales.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\" border=\"1\" cellpadding=\"8\">\n<tr>\n<th>Financial Year<\/th>\n<th>Revenue (Rs Cr)<\/th>\n<th>Net Profit (Rs Cr)<\/th>\n<th>EPS (Rs)<\/th>\n<th>Dividend per Share (Rs)<\/th>\n<\/tr>\n<tr>\n<td>FY22<\/td>\n<td>2,175.72<\/td>\n<td>101.58<\/td>\n<td>17.52<\/td>\n<td>0.00<\/td>\n<\/tr>\n<tr>\n<td>FY23<\/td>\n<td>2,270.36<\/td>\n<td>67.04<\/td>\n<td>11.17<\/td>\n<td>2.00<\/td>\n<\/tr>\n<tr>\n<td>FY24<\/td>\n<td>3,194.23<\/td>\n<td>105.14<\/td>\n<td>16.73<\/td>\n<td>2.00<\/td>\n<\/tr>\n<tr>\n<td>FY25<\/td>\n<td>3,557.17<\/td>\n<td>153.17<\/td>\n<td>22.78<\/td>\n<td>0.00<\/td>\n<\/tr>\n<tr>\n<td>FY26<\/td>\n<td>3,592.48<\/td>\n<td>170.49<\/td>\n<td>23.26<\/td>\n<td>0.00<\/td>\n<\/tr>\n<\/table>\n<p>FY26 revenue growth was 1.0%, slower than the four-year average of 13.4%, and net profit moved up 11.3%. EPS rose from Rs 16.73 in FY24 to Rs 23.26 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Margins_and_the_Latest_Quarter\"><\/span><strong>Margins and the Latest Quarter<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Man Industries (India) converted 4.7% of FY26 revenue into net profit, against 4.3% in FY25, within a five-year range of 3.0% to 4.7%. EBITDA margin was 13.0% in FY26 versus 9.9% in FY25.<\/p>\n<p>In the June 2026 quarter, revenue was Rs 1,065 crore, up 37.7% from the same quarter a year earlier, while net profit of Rs 61.43 crore was up 122.4%. EBITDA came in at Rs 155.25 crore, up 92.6% year on year. The next quarterly result is the first test of whether the earnings assumption holds.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Balance_Sheet_and_Cash_Flow\"><\/span><strong>Balance Sheet and Cash Flow<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Debt to equity stands at 0.30, and shareholders&#8217; equity grew from Rs 942.18 crore in FY22 to Rs 2,087 crore in FY26. Operating cash flow in FY26 was Rs 472.22 crore against capital expenditure of Rs 340.27 crore, leaving free cash flow of Rs 131.95 crore, or 2.1% of the current market capitalisation. In FY25 free cash flow was negative at Rs 81.23 crore, so cash generation has not been steady year to year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Valuation_Check_for_the_Man_Industries_India_Stock_Target_PE_Price_to_Book_and_ROE\"><\/span><strong>Valuation Check for the Man Industries (India) Stock Target: PE, Price to Book and ROE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>At a PE of 31.46 against an industry PE of 22.91, Man Industries (India) trades at a premium to its industry. Price to book is 3.10 on a book value of Rs 276.84 per share, and return on equity is 8.17%. A PE of 31.46 equals an earnings yield of 3.2%, and the FY26 dividend of Rs 0.00 per share gives a yield of 0.00%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Shareholding_Pattern_and_Institutional_Holding\"><\/span><strong>Shareholding Pattern and Institutional Holding<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Promoters held 43.21% of Man Industries (India) in June 2026, and promoter holding has stayed near 43.21% since July 2025. Foreign institutional investors (FII) held 2.87% and domestic institutions (DII) held 1.43%, which puts total institutional holding at 4.30%. FII holding rose from 1.85% in July 2025 to 2.87% in June 2026. Public shareholders own the remaining 52.49%. Institutional holding this low means the stock sees limited professional coverage, and price moves can be sharper when trading volumes are thin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Man_Industries_India_Share_Price_Targets_for_the_Short_Term_and_12_Months\"><\/span><strong>Man Industries (India) Share Price Targets for the Short Term and 12 Months<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Short_Term_Man_Industries_India_Stock_Target_Levels_Technical_Setup\"><\/span><strong>Short Term Man Industries (India) Stock Target Levels: Technical Setup<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>At Rs 867.90 on 9 October 2026, Man Industries (India) trades above its 50-day simple moving average of Rs 756.21 and above its 200-day exponential moving average of Rs 590.09. The 14-day RSI reads 51.6, which is neutral territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 1,039.70 (52-week high) and the nearest support is Rs 756.21 (50-day simple moving average). A sustained move above Rs 1,039.70 would improve the short-term setup, while a close below Rs 756.21 would shift attention to the next support.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_Month_Man_Industries_India_Target_Price_for_2027\"><\/span><strong>12 Month Man Industries (India) Target Price for 2027<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 12-month target for Man Industries (India) is Rs 1,010: forward EPS of Rs 32.12 at a PE of 31.46. That is 16.4% above Rs 867.90. It would still leave the stock 2.9% below its 52-week high of Rs 1,039.70.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_EPS_Growth_and_PE_Multiple_Change_the_Man_Industries_India_Target_Price\"><\/span><strong>How EPS Growth and PE Multiple Change the Man Industries (India) Target Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"border-collapse:collapse;width:100%;\" border=\"1\" cellpadding=\"8\">\n<tr>\n<th>EPS Growth<\/th>\n<th>PE 25.17<\/th>\n<th>PE 31.46<\/th>\n<th>PE 36.18<\/th>\n<\/tr>\n<tr>\n<td>0.0% (EPS Rs 27.24)<\/td>\n<td>Rs 686<\/td>\n<td>Rs 857<\/td>\n<td>Rs 986<\/td>\n<\/tr>\n<tr>\n<td>17.9% (EPS Rs 32.12)<\/td>\n<td>Rs 808<\/td>\n<td>Rs 1,010<\/td>\n<td>Rs 1,162<\/td>\n<\/tr>\n<tr>\n<td>23.9% (EPS Rs 33.75)<\/td>\n<td>Rs 849<\/td>\n<td>Rs 1,062<\/td>\n<td>Rs 1,221<\/td>\n<\/tr>\n<\/table>\n<p>Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Man Industries (India) price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bull_Case_and_Downside_Risk_for_Man_Industries_India_Stock_Target_in_2027\"><\/span><strong>Bull Case and Downside Risk for Man Industries (India) Stock Target in 2027<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Bull_Case_Rs_1221\"><\/span><strong>Bull Case Rs 1,221<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The bull case Man Industries (India) price target needs EPS growth of 23.9%, which lifts forward EPS to Rs 33.75, and a PE multiple that rises 15% to 36.18. That gives Rs 1,221, 40.7% above the current price and above the 52-week high of Rs 1,039.70, so the stock would have to set a fresh 52-week high.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Downside_Risk_Level_Rs_686\"><\/span><strong>Downside Risk Level Rs 686<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The downside risk level is not a target. It assumes EPS stays flat at Rs 27.24 and the PE falls 20% to 25.17. That gives Rs 686, 21.0% below the current price and above the 52-week low of Rs 302.05.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\" border=\"1\" cellpadding=\"8\">\n<tr>\n<th>Scenario<\/th>\n<th>EPS Growth<\/th>\n<th>PE Multiple<\/th>\n<th>Price (Rs)<\/th>\n<th>Change vs CMP<\/th>\n<\/tr>\n<tr>\n<td>Bull Case<\/td>\n<td>23.9%<\/td>\n<td>36.18<\/td>\n<td>Rs 1,221<\/td>\n<td>+40.7%<\/td>\n<\/tr>\n<tr>\n<td>Base Case<\/td>\n<td>17.9%<\/td>\n<td>31.46<\/td>\n<td>Rs 1,010<\/td>\n<td>+16.4%<\/td>\n<\/tr>\n<tr>\n<td>Downside Risk<\/td>\n<td>0.0%<\/td>\n<td>25.17<\/td>\n<td>Rs 686<\/td>\n<td>-21.0%<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_the_Man_Industries_India_Target_Price_for_2027\"><\/span><strong>Key Risks to the Man Industries (India) Target Price for 2027<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Growth_Slowdown_Risk_for_the_Man_Industries_India_Price_Target\"><\/span><strong>Growth Slowdown Risk for the Man Industries (India) Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Revenue in the June 2026 quarter was up 37.7% year on year, and FY26 revenue growth was 1.0%. If growth slows from here, the EPS estimate behind the Man Industries (India) stock target will need revising.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Liquidity_and_Size_Risk\"><\/span><strong>Liquidity and Size Risk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Man Industries (India) has a market capitalisation of Rs 6,427 crore. Institutional holding is 4.30%, and promoters hold 43.21%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Valuation_and_Margin_Risk\"><\/span><strong>Valuation and Margin Risk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Net margin was 4.7% in FY26, so a small slip in costs moves profit noticeably. At a PE of 31.46 versus an industry PE of 22.91, a de-rating toward the downside-risk PE of 25.17 would cut the price even if earnings hold.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Market_and_Technical_Risk\"><\/span><strong>Market and Technical Risk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The stock trades 16.5% below its 52-week high, with an RSI of 51.6 and a MACD reading below its signal line. Broader market weakness can override company fundamentals in the short term.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Invest_in_Man_Industries_India\"><\/span><strong>How to Invest in Man Industries (India)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Start with the live price and volume. Any Man Industries (India) share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 867.90 price before acting on any level.<\/p>\n<p>Next, review the fundamentals yourself. The Univest Screener lets you check Man Industries (India)&#8217;s PE, ROE, debt and shareholding in one place.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check Man Industries (India) fundamentals on the Univest Screener<\/strong><\/a><\/p>\n<p>Then compare the three Man Industries (India) target price scenarios with your own view. If you expect EPS growth below 17.9%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.<\/p>\n<p>Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.<\/p>\n<p>Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Man Industries (India) live price and get daily stock recommendations.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Man Industries (India) share price target for 2027 is Rs 1,010 in the base case, with Rs 1,221 as the bull case. The support for that view is arithmetic you can check: EPS grew 17.9% a year over FY24 to FY26, and the stock trades at a PE of 31.46. The risks are equally concrete, including institutional holding of only 4.30% and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Man_Industries_India_Share_Price_Target_2027\"><\/span><strong>FAQs on Man Industries (India) Share Price Target 2027<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Man_Industries_India_share_price_target_for_2027\"><\/span><strong>What is the Man Industries (India) share price target for 2027?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The base-case Man Industries (India) share price target for 2027 is Rs 1,010, with Rs 1,221 as the bull case. The downside risk level, which is not a target, is Rs 686. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Man_Industries_India_share_price_today\"><\/span><strong>What is the Man Industries (India) share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 9 October 2026, 3:30 PM IST, Man Industries (India) trades at Rs 867.90, up 1.17% on the day. The 52-week range is Rs 302.05 to Rs 1,039.70.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Man_Industries_India_a_buy_or_sell_at_the_current_price\"><\/span><strong>Is Man Industries (India) a buy or sell at the current price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The data is mixed rather than one-sided: EPS has grown 17.9% a year over FY24 to FY26, but institutional holding is only 4.30%. Whether Man Industries (India) fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_bull_case_target_and_downside_risk_level_for_Man_Industries_India_shares\"><\/span><strong>What are the bull case target and downside risk level for Man Industries (India) shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The bull case target is Rs 1,221, which assumes 23.9% EPS growth and a PE of 36.18. The downside risk level is Rs 686, which assumes flat EPS and a PE of 25.17. It marks a risk, not a target.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_to_the_Man_Industries_India_price_target\"><\/span><strong>What are the main risks to the Man Industries (India) price target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are slower revenue growth, a small market capitalisation of Rs 6,427 crore, a PE de-rating and short-term weakness in the broader market. Institutional holding is only 4.30%, which can make price moves sharper.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Man_Industries_India_and_how_does_it_compare_with_the_industry\"><\/span><strong>What is the PE ratio of Man Industries (India) and how does it compare with the industry?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The PE ratio of Man Industries (India) is 31.46 against an industry PE of 22.91. Price to book is 3.10 and return on equity is 8.17%. The base case in the Man Industries (India) price target holds this PE constant.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_owns_Man_Industries_India_and_what_is_the_promoter_holding\"><\/span><strong>Who owns Man Industries (India), and what is the promoter holding?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Promoters held 43.21% of Man Industries (India) in June 2026. FII held 2.87%, DII held 1.43% and the public held 52.49%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_Man_Industries_Indias_latest_quarterly_results\"><\/span><strong>What were Man Industries (India)&#8217;s latest quarterly results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> In the June 2026 quarter, Man Industries (India) reported revenue of Rs 1,065 crore (up 37.7% year on year) and net profit of Rs 61.43 crore (up 122.4%).<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the Man Industries (India) share price target for 2027?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The base-case Man Industries (India) share price target for 2027 is Rs 1,010, with Rs 1,221 as the bull case. The downside risk level, which is not a target, is Rs 686. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.\"}},{\"@type\":\"Question\",\"name\":\"What is the Man Industries (India) share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of 9 October 2026, 3:30 PM IST, Man Industries (India) trades at Rs 867.90, up 1.17% on the day. The 52-week range is Rs 302.05 to Rs 1,039.70.\"}},{\"@type\":\"Question\",\"name\":\"Is Man Industries (India) a buy or sell at the current price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The data is mixed rather than one-sided: EPS has grown 17.9% a year over FY24 to FY26, but institutional holding is only 4.30%. Whether Man Industries (India) fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.\"}},{\"@type\":\"Question\",\"name\":\"What are the bull case target and downside risk level for Man Industries (India) shares?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The bull case target is Rs 1,221, which assumes 23.9% EPS growth and a PE of 36.18. The downside risk level is Rs 686, which assumes flat EPS and a PE of 25.17. It marks a risk, not a target.\"}},{\"@type\":\"Question\",\"name\":\"What are the main risks to the Man Industries (India) price target?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are slower revenue growth, a small market capitalisation of Rs 6,427 crore, a PE de-rating and short-term weakness in the broader market. Institutional holding is only 4.30%, which can make price moves sharper.\"}},{\"@type\":\"Question\",\"name\":\"What is the PE ratio of Man Industries (India) and how does it compare with the industry?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The PE ratio of Man Industries (India) is 31.46 against an industry PE of 22.91. Price to book is 3.10 and return on equity is 8.17%. The base case in the Man Industries (India) price target holds this PE constant.\"}},{\"@type\":\"Question\",\"name\":\"Who owns Man Industries (India), and what is the promoter holding?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Promoters held 43.21% of Man Industries (India) in June 2026. FII held 2.87%, DII held 1.43% and the public held 52.49%.\"}},{\"@type\":\"Question\",\"name\":\"What were Man Industries (India)'s latest quarterly results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"In the June 2026 quarter, Man Industries (India) reported revenue of Rs 1,065 crore (up 37.7% year on year) and net profit of Rs 61.43 crore (up 122.4%).\"}}]}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Man Industries (India) share price target 2027: base Rs 1,010, bull Rs 1,221, downside risk level Rs 686, built from reported earnings, valuation and shareholding data.<\/p>\n","protected":false},"author":29,"featured_media":299979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[1019],"class_list":["post-299980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-stock-market"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["299979"],"rank_math_title":["Man Industries (India) Share Price Target 2027"],"rank_math_description":["The Man Industries (India) share price target for 2027 is Rs 1,010 versus Rs 867.90 today. Bull case, downside risk, earnings trend and risks explained. October 2026."],"rank_math_focus_keyword":["Man Industries (India) share price target | Density Target: 1.2 to 1.5%"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/man-industries-india-share-price-target-2027-base-and-bull-targets-built-on-fy26.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/299980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=299980"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/299980\/revisions"}],"predecessor-version":[{"id":299981,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/299980\/revisions\/299981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/299979"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=299980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=299980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=299980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}