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Man Industries (India) Ltd stock PB Ratio (=2) is close to 10-year high of 2.11.
The historical rank and industry rank for Man Industries (India)'s PB Ratio or its related term are showing as below:
NSE:MANINDS'
s PB Ratio Range Over the Past 10 Years
Min: 0.27 Med: 0.68 Max: 2.15
Current: 2.07
During the past 13 years, Man Industries (India)'s highest PB Ratio was 2.15. The lowest was 0.27. And the median was 0.68.
NSE:MANINDS's PB Ratio is ranked worse than 79.97% of 609
companies
in the Steel industry
Industry Median: 0.97
vs NSE:MANINDS: 2.07
During the past 12 months, Man Industries (India)'s average Book Value Per Share Growth Rate was 12.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 13.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 14.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 11.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Man Industries (India) was 17.70% per year. The lowest was -30.30% per year. And the median was 8.60% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Steel subindustry, Man Industries (India)'s PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Man Industries (India) PB Ratio vs Steel Industry
For the Steel industry and Basic Materials sector, Man Industries (India)'s PB Ratio distribution charts can be found below:
* The bar in red indicates where Man Industries (India)'s PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Man Industries (India) (NSE:MANINDS) has a PB Ratio of 2.07 as of Aug. 14, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Man Industries (India) and its competitors. This is 204% above median its historical median of 0.68. Over the past decade, Man Industries (India)'s PB Ratio has ranged from 0.27 to 2.15. According to the industry distribution chart, Man Industries (India) ranks #487 out of 609 companies in the Steel industry, placing it in the top 80%.
Is Man Industries (India)'s PB Ratio too high?
Man Industries (India)'s current PB Ratio of 2.07 is 204% above median its 10-year median of 0.68. Over the past 10 years, this metric has ranged from a low of 0.27 to a high of 2.15. The Steel industry median PB Ratio is 0.97. Man Industries (India)'s value of 2.07 is 113.4% above this industry median. Based on the distribution chart, Man Industries (India) ranks #487 out of 609 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Man Industries (India) has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Man Industries (India)'s PB Ratio compare to NUE and STLD?
According to the Steel industry distribution chart, Man Industries (India) ranks #487 out of 609 companies for PB Ratio. This places Man Industries (India) in the lower half of its industry. The industry median PB Ratio is 0.97. Man Industries (India)'s value of 2.07 is 113.4% above this benchmark. Historically, Man Industries (India)'s own PB Ratio has ranged from 0.27 to 2.15 over the past decade. While the company's 10-year median is 0.68 vs. the industry median of 0.97, Man Industries (India) has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Steel company?
The median PB Ratio among Steel companies is 0.97, based on 609 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Man Industries (India)'s current PB Ratio of 2.07 is 113.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Man Industries (India) and its competitors. For the Steel industry, the median PB Ratio is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Man Industries (India)'s current PB Ratio is 2.07, which is 204% above median its own 10-year median of 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Man Industries (India) stock overvalued right now?
Based on GuruFocus' analysis, Man Industries (India) (NSE:MANINDS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹387.12, compared to a current price of ₹576.15 — trading 48.8% above its estimated fair value. The current PB Ratio is 2.07, which is 204% above median its 10-year median of 0.68 and 113.4% above the Steel industry median of 0.97. Man Industries (India)'s overall GF Score™ is 78/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Man Industries (India) (NSE:MANINDS), the current PB Ratio is 2.07 as of Aug. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Man Industries (India) (NSE:MANINDS) Overvalued in 2026?
Based on GuruFocus' analysis, Man Industries (India) stock appears to be overvalued.
The current stock price of ₹576.15 is trading 48.8% above its estimated GF Value™ of ₹387.12.
GuruFocus considers Man Industries (India) to be Significantly Overvalued.
Key valuation signals for NSE:MANINDS:
PB Ratio: 2.07 (204% above median its 10-year median of 0.68)
GF Value™: ₹387.12 vs. price of ₹576.15 (48.8% above fair value)
Industry Position: 113.4% above the Steel median (#487 of 609)
No single metric tells the full story. See the NSE:MANINDS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Man Industries (India) Ltd isengaged in the business of manufacturing, processing and trading of submerged arc welded steel pipes and steel products. It offers the product which includes LSAW HSAW, Coating, ERW, and HIB. In addition, it also caters to its international clients in the oil and gas industry, petrochemicals, water, dredging, fertilizers and part of infrastructure projects.
78GF Score
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