Man Industries (India) Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

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.

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.

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Man Industries (India) Stock Analysis: Company Overview and Key Stats

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.

Metric	Value
Company	Man Industries (India)
NSE Ticker	MANINDS
CMP (9 October 2026)	Rs 867.90
52-Week High	Rs 1,039.70
52-Week Low	Rs 302.05
Market Cap	Rs 6,427 crore
PE Ratio (TTM)	31.46
Industry PE	22.91
Price to Book	3.10
Return on Equity	8.17%
Debt to Equity	0.30
EPS (TTM)	Rs 27.24
Dividend Yield	0.00%
12-Month Base Target	Rs 1,010
Bull Case	Rs 1,221
Downside Risk Level (not a target)	Rs 686

Why Is Man Industries (India) Share Price Target Set at Rs 1,010 for 2027?

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.

Earnings Growth Behind the Man Industries (India) Target Price: Five Years of Results

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.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	2,175.72	101.58	17.52	0.00
FY23	2,270.36	67.04	11.17	2.00
FY24	3,194.23	105.14	16.73	2.00
FY25	3,557.17	153.17	22.78	0.00
FY26	3,592.48	170.49	23.26	0.00

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.

Margins and the Latest Quarter

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.

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.

Balance Sheet and Cash Flow

Debt to equity stands at 0.30, and shareholders' 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.

Valuation Check for the Man Industries (India) Stock Target: PE, Price to Book and ROE

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%.

Shareholding Pattern and Institutional Holding

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.

Man Industries (India) Share Price Targets for the Short Term and 12 Months

Short Term Man Industries (India) Stock Target Levels: Technical Setup

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.

12 Month Man Industries (India) Target Price for 2027

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.

How EPS Growth and PE Multiple Change the Man Industries (India) Target Price

EPS Growth	PE 25.17	PE 31.46	PE 36.18
0.0% (EPS Rs 27.24)	Rs 686	Rs 857	Rs 986
17.9% (EPS Rs 32.12)	Rs 808	Rs 1,010	Rs 1,162
23.9% (EPS Rs 33.75)	Rs 849	Rs 1,062	Rs 1,221

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.

Bull Case and Downside Risk for Man Industries (India) Stock Target in 2027

Bull Case Rs 1,221

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.

Downside Risk Level Rs 686

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.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	23.9%	36.18	Rs 1,221	+40.7%
Base Case	17.9%	31.46	Rs 1,010	+16.4%
Downside Risk	0.0%	25.17	Rs 686	-21.0%

Key Risks to the Man Industries (India) Target Price for 2027

Growth Slowdown Risk for the Man Industries (India) Price Target

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.

Liquidity and Size Risk

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.

Valuation and Margin Risk

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.

Market and Technical Risk

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.

How to Invest in Man Industries (India)

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.

Next, review the fundamentals yourself. The Univest Screener lets you check Man Industries (India)'s PE, ROE, debt and shareholding in one place.

Check Man Industries (India) fundamentals on the Univest Screener

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.

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.

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.

Download the Univest iOS App or Univest Android App to track Man Industries (India) live price and get daily stock recommendations.

Conclusion

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.

FAQs on Man Industries (India) Share Price Target 2027

What is the Man Industries (India) share price target for 2027?

Ans. 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.

What is the Man Industries (India) share price today?

Ans. 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.

Is Man Industries (India) a buy or sell at the current price?

Ans. 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.

What are the bull case target and downside risk level for Man Industries (India) shares?

Ans. 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.

What are the main risks to the Man Industries (India) price target?

Ans. 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.

What is the PE ratio of Man Industries (India) and how does it compare with the industry?

Ans. 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.

Who owns Man Industries (India), and what is the promoter holding?

Ans. 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%.

What were Man Industries (India)'s latest quarterly results?

Ans. 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%).