For Hydrogen, new pipes needs to be laid. Existing pipes are technical certified for Oil , gas and Water accordingly.
Man Industries is first Indian companies whose pipes are certified for Hydrogen handling by European labs. Lead time to get this certification is ~18 months. It gives them a short window of 6months – 12 months where they can pitch their products to Indian and European companies without any competition from other Indian companies.
Since, it is new products, their margins (~15-18%) will be a little better wrt current OIL pipes (~12-13%).
Disc: Invested
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