| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
Revenue  | 651 | 739 | 801 | 959 | 715 | 810 | 585 | 586 | 476 | 614 | 585 | 721 | 722 | 983 | 1,162 | 1,454 | 1,353 | 1,432 | 1,357 | 1,660 | 1,256 | 1,565 | 1,466 | 1,259 | 1,216 | 1,383 | 1,410 | 1,458 | 1,305 |
| Expenses | 462 | 570 | 625 | 942 | 552 | 633 | 460 | 738 | 365 | 459 | 480 | 743 | 570 | 816 | 979 | 1,262 | 1,115 | 1,172 | 1,100 | 1,319 | 988 | 1,208 | 1,065 | 945 | 1,032 | 1,065 | 1,132 | 1,133 | 980 |
| EBITDA | 189 | 169 | 176 | 17 | 162 | 177 | 125 | -152 | 111 | 156 | 105 | -22 | 152 | 167 | 183 | 192 | 238 | 261 | 257 | 341 | 269 | 358 | 401 | 314 | 184 | 318 | 278 | 325 | 325 |
| Operating Profit % | 24 % | 18 % | 20 % | 2 % | 21 % | 20 % | 19 % | -25 % | 21 % | 21 % | 15 % | -5 % | 17 % | 14 % | 14 % | 12 % | 16 % | 17 % | 18 % | 19 % | 19 % | 21 % | 26 % | 22 % | 10 % | 18 % | 20 % | 20 % | 14 % |
| Depreciation | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 28 | 29 | 29 | 36 | 27 | 35 | 34 | 34 | 35 | 35 | 34 | 35 | 34 | 34 | 26 | 26 | 24 | 25 | 25 | 25 | 25 | 25 |
| Interest | 2 | 12 | 5 | 20 | 18 | 16 | 16 | 14 | 16 | 15 | 13 | 12 | 11 | 11 | 12 | 12 | 11 | 13 | 9 | 6 | 7 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit Before Tax | 168 | 137 | 151 | -22 | 125 | 141 | 89 | -194 | 66 | 112 | 56 | -62 | 106 | 122 | 136 | 146 | 193 | 218 | 213 | 301 | 228 | 331 | 374 | 290 | 158 | 292 | 252 | 299 | 300 |
| Tax | 58 | 47 | 50 | 77 | 48 | -43 | 24 | 17 | 21 | 29 | 3 | -2 | 10 | 27 | 32 | -250 | 53 | 56 | 53 | -72 | 21 | 81 | 98 | 72 | 29 | 72 | 66 | 57 | 69 |
| Net Profit | 110 | 90 | 101 | -99 | 77 | 184 | 65 | -211 | 45 | 83 | 53 | -60 | 96 | 95 | 104 | 396 | 140 | 161 | 160 | 373 | 207 | 251 | 276 | 218 | 129 | 220 | 186 | 242 | 230 |
| EPS in ₹ | 16.44 | 13.75 | 15.21 | -10.44 | 11.54 | 27.62 | 9.76 | -36.40 | 2.86 | 12.47 | 7.89 | -8.59 | 14.30 | 13.57 | 14.13 | 29.31 | 22.87 | 26.36 | 11.91 | 27.61 | 15.41 | 18.69 | 20.59 | 16.30 | 9.65 | 16.42 | 13.89 | 18.06 | 17.19 |
Maharashtra Seamless
Maharashtra Seamless
613.95
-16.95
(-2.69%)
Market Cap
8,226.90 Cr
EPS
58.02
PE Ratio
9.37
Dividend Yield
1.63 %
Industry
Industrial Products52 Week High
814.30
52 Week Low
566.50
PB Ratio
1.30
Debt to Equity
0.00
Sector
Iron & Steel Products
Investment Returns
In Long Term
In Short Term
1 Year
0.00%
2 Years
0.00%
3 Years
0.00%
4 Years
0.00%
5 Years
0.00%
Analyst Rating
- By Refinitiv from1 analysts
Company News
View All News
Competition Commission of India Conducts Inquiry at Maharashtra Seamless Limited Offices6 days ago
The Competition Commission of India conducted an inquiry at Maharashtra Seamless Limited's New Delhi and Gurgaon offices from September 15-16, 2025. The company cooperated fully with the authorities, providing necessary information, documentation and clarification during the inquiry process.
Maharashtra Seamless Q1 FY26 Revenue Falls 11% to Rs 1,303 Crores Amid Order Booking Slowdown
Aug 04, 2025
Aug 04, 2025Maharashtra Seamless Limited reported quarterly results showing revenue decline of 11% to Rs 1,303 crores compared to the previous quarter. EBITDA dropped significantly by 41% to Rs 165 crores, while PAT declined 4% to Rs 234 crores with EPS at Rs 17 per share. The company dispatched 1,03,000 tons of seamless pipes but faced a marked slowdown in order booking attributed to Chinese dumping and reduced oil and gas sector expenditure. Order book stands at Rs 1,149 crores, down Rs 400 crores quarter-on-quarter. Treasury position remains strong at Rs 2,919 crores as of June 30, 2025, with Rs 160 crores contributed to other income from treasury performance. The company maintains its AA+ credit rating and expects the September quarter to remain muted on the margin front. Two ongoing projects include a finishing line in Telangana with Rs 80 crores in purchase orders issued and cold drawn pipes project in Maharashtra with machine installations planned for August-September.
Maharashtra Seamless has reported multi-year growth supported by ₹852 crore in investments. The company maintains a robust order book of ₹1,149 crore and holds ₹2,914 crore in cash. The growth is attributed to increased government demand for pipes.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
1,679.30 | #1 46,604.70 | 58.20 | 20,785.60 | 14.25 | 757 | 22.77 | 57.31 | |
918.35 | 25,634.10 | 27.74 | 15,368.10 | #1 15.08 | 909 | 5.29 | 42.35 | |
892.35 | 23,488.60 | 14.41 | 14,167.30 | -19.42 | #1 1,902 | 40.86 | 55.97 | |
263.58 | 17,640.30 | 23.82 | 5,471.70 | -5.19 | 813 | -24.57 | 68.27 | |
2,415.40 | 16,930.00 | 29.67 | 5,246.10 | 2.22 | 542 | 20.02 | 47.30 | |
671.20 | 16,194.80 | 35.67 | 4,308.30 | 4.29 | 401 | 42.58 | 50.06 | |
210.22 | 13,443.70 | #1 7.80 | #1 20,947.80 | -0.84 | 1,458 | -0.22 | 57.15 | |
431.85 | 13,160.30 | 32.58 | 3,513.50 | 7.59 | 406 | -2.89 | 74.19 | |
613.95 | #9 8,226.90 | #2 9.37 | #6 5,465.90 | #7 -1.45 | #5 777 | #2 78.80 | 38.81 | |
70.68 | 6,863.00 | 29.03 | 2,666.90 | -12.30 | -94 | #1 393.38 | 64.96 |
Forecast
Actual
Growth Rate
Revenue Growth
-1.45 %
Net Income Growth
-18.31 %
Cash Flow Change
-41.46 %
ROE
-26.19 %
ROCE
-25.89 %
EBITDA Margin (Avg.)
-16.88 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 4,026 | 4,000 | 3,856 | 4,040 | 4,795 | 5,239 | 5,356 | 5,388 | 5,859 | 6,583 | 7,033 |
| Fixed Assets | 1,472 | 1,407 | 1,095 | 1,235 | 1,173 | 2,364 | 2,268 | 2,135 | 2,016 | 1,950 | 1,864 |
| Current Assets | 1,409 | 1,429 | 1,437 | 1,466 | 2,388 | 1,820 | 2,148 | 2,647 | 3,208 | 3,609 | 4,435 |
| Capital Work in Progress | 38 | 31 | 119 | 17 | 23 | 29 | 9 | 13 | 14 | 3 | 14 |
| Investments | 311 | 1,412 | 1,529 | 1,461 | 1,276 | 1,007 | 1,071 | 646 | 1,177 | 2,098 | 2,892 |
| Other Assets | 2,206 | 1,150 | 1,113 | 1,326 | 2,322 | 1,840 | 2,008 | 2,593 | 2,651 | 2,533 | 2,263 |
| Total Liabilities | 4,026 | 4,000 | 3,856 | 4,040 | 4,795 | 5,239 | 5,356 | 5,388 | 5,859 | 6,583 | 7,033 |
| Current Liabilities | 541 | 575 | 668 | 361 | 602 | 964 | 1,049 | 784 | 543 | 430 | 271 |
| Non Current Liabilities | 550 | 515 | 442 | 749 | 1,123 | 1,070 | 1,007 | 619 | 542 | 422 | 422 |
| Total Equity | 2,934 | 2,910 | 2,746 | 2,930 | 3,070 | 3,205 | 3,299 | 3,984 | 4,774 | 5,731 | 6,340 |
| Reserve & Surplus | 2,763 | 2,668 | 2,650 | 2,897 | 3,037 | 3,171 | 3,265 | 3,951 | 4,707 | 5,664 | 6,273 |
| Share Capital | 171 | 243 | 96 | 34 | 34 | 34 | 34 | 34 | 67 | 67 | 67 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 2 | -6 | 2 | 10 | 44 | 25 | -21 | 8 | -17 | 0 | -13 |
| Investing Activities | -630 | 12 | -107 | 13 | -161 | -730 | -183 | 563 | -386 | -722 | -486 |
| Operating Activities | 104 | 122 | 241 | 93 | -183 | 748 | 447 | -269 | 912 | 1,041 | 610 |
| Financing Activities | 527 | -141 | -133 | -95 | 388 | 7 | -285 | -286 | -542 | -320 | -136 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
| Promoter | 63.78 % | 63.73 % | 63.82 % | 64.90 % | 67.00 % | 67.08 % | 67.25 % | 67.63 % | 67.80 % | 67.80 % | 67.86 % | 67.86 % | 68.00 % | 68.00 % | 68.04 % | 68.07 % | 68.86 % | 68.87 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 7.99 % | 10.50 % | 11.97 % | 9.23 % | 7.97 % | 9.12 % | 9.63 % | 10.42 % |
| DIIs | 5.82 % | 4.90 % | 4.12 % | 2.82 % | 2.89 % | 2.93 % | 4.12 % | 3.89 % | 4.05 % | 2.69 % | 4.38 % | 4.31 % | 3.95 % | 5.38 % | 4.38 % | 3.86 % | 3.96 % | 4.08 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 13.38 % | 13.94 % | 13.92 % | 14.67 % | 14.06 % | 13.98 % | 13.62 % | 13.53 % | 14.34 % | 12.38 % | 11.36 % | 10.27 % | 9.81 % | 11.59 % | 13.23 % | 12.87 % | 11.95 % | 11.13 % |
| Others | 17.02 % | 17.43 % | 18.14 % | 17.61 % | 16.04 % | 16.01 % | 15.00 % | 14.95 % | 13.81 % | 17.13 % | 8.41 % | 7.06 % | 6.28 % | 5.80 % | 6.38 % | 6.09 % | 5.60 % | 5.50 % |
| No of Share Holders | 28,053 | 30,134 | 29,472 | 28,760 | 27,640 | 30,975 | 36,513 | 45,798 | 47,261 | 50,771 | 54,879 | 61,989 | 69,663 | 77,500 | 96,466 | 1,29,024 | 1,05,737 | 93,504 |
Dividend History
Dividends per share (FY)
Dividend yield (FY) %
Dividends per share (FY)
Dividend yield (FY) %
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 5 | 6 | 6 | 2.5 | 3.5 | 5 | 5 | 10 | 10 |
| Dividend Yield (%) | 0.00 | 2.36 | 2.5 | 6.2 | 1.82 | 1.27 | 1.41 | 0.59 | 1.46 | 1.63 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 15 Sept 2021 |  Dividend | ₹ 3.50 /share | 14 Sept 2021 | 156.15 | 157.70 |
| 08 Sept 2022 | Dividend | ₹ 5.00 /share | 07 Sept 2022 | 273.88 | 411.83 |
| 28 Nov 2022 |  Bonus | 1:1 | 25 Nov 2022 | 398.55 | 387.25 |
| 14 Aug 2023 | Dividend | ₹ 5.00 /share | 14 Aug 2023 | 441.55 | 480.55 |
| 14 Aug 2024 | Dividend | ₹ 10.00 /share | 14 Aug 2024 | 836.35 | 591.55 |
| 28 Aug 2024 |  Annual General Meeting | NA | 28 Aug 2024 | 836.35 | 691.60 |
| 28 Oct 2024 |  Quarterly Result Announcement | NA | 28 Oct 2024 | 614.80 | 569.85 |
| 27 Jan 2025 | Quarterly Result Announcement | NA | 27 Jan 2025 | 627.50 | 648.45 |
| 26 May 2025 | Quarterly Result Announcement | NA | 26 May 2025 | 633.80 | 690.80 |
| 30 Jul 2025 | Quarterly Result Announcement | NA | 30 Jul 2025 | 705.55 | 692.60 |
| 14 Aug 2025 | Dividend | ₹ 10.00 /share | 14 Aug 2025 | 690.80 | 686.00 |
| 28 Aug 2025 | Annual General Meeting | NA | 28 Aug 2025 | 690.80 | 656.55 |
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation4 days ago
4 days agoDisclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 20156 days ago
6 days agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication10 days ago
10 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 29, 2025
Aug 29, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 28, 2025
Aug 28, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 28, 2025
Aug 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 18, 2025
Aug 18, 2025Letter Sent To Shareholders For Annual Report Web-Link And PathAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 07, 2025
Aug 07, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 06, 2025
Aug 06, 2025Reg. 34 (1) Annual Report.Aug 06, 2025
Aug 06, 2025Notice Of 37Th Annual General MeetingAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 01, 2025
Aug 01, 2025Audio Recording Of Conference Call Dated 31St July 2025Jul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 31, 2025
Jul 31, 2025Appointment Of Secretarial AuditorJul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Investor PresentationJul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Change in ManagementJul 30, 2025
Jul 30, 2025Corporate Action-Board to consider DividendJul 30, 2025
Jul 30, 2025Board Meeting Outcome for Outcome Of Board MeetingJul 30, 2025
Jul 30, 2025Results For The Quarter Ended June 30 2025Jul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 23, 2025
Jul 23, 2025Board Meeting Intimation for To Consider And Approve Inter-Alia The Un-Audited Financial Results For The Quarter Ended On 30Th June 2025.Jul 15, 2025
Jul 15, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 08, 2025
Jul 08, 2025Closure of Trading WindowJun 26, 2025
Jun 26, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJun 11, 2025
Jun 11, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptJun 03, 2025
Jun 03, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMay 28, 2025
May 28, 2025 Audio Recording Of Conference Call Dated 27Th May 2025May 27, 2025
May 27, 2025Announcement under Regulation 30 (LODR)-Investor PresentationMay 26, 2025
May 26, 2025Convening Of 37Th Annual General MeetingMay 26, 2025
May 26, 2025Appointment Of Cost AuditorsMay 26, 2025
May 26, 2025Corporate Action-Board approves DividendMay 26, 2025
May 26, 2025Board Meeting Outcome for Outcome Of Board MeetingMay 26, 2025
May 26, 2025Financial Results For The Quarter And Year Ended March 31 2025May 26, 2025
May 26, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 21, 2025
May 21, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 15, 2025
May 15, 2025Board Meeting Intimation for To Consider And Approve Inter-Alia The Audited Financial Results For The Quarter And Year Ended On 31St March 2025 And To Recommend Dividend If Any On The Equity Shares Of The Company For The Financial Year 2024-25.May 12, 2025
May 12, 2025UpdatesMay 07, 2025
May 07, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Apr 04, 2025
Apr 04, 2025Clarification On Significant Increase In The VolumeApr 02, 2025
Apr 02, 2025Clarification On Spurt In Volume Required By NSEApr 02, 2025
Apr 02, 2025Closure of Trading WindowMar 26, 2025
Mar 26, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMar 21, 2025
Mar 21, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderMar 16, 2025
Mar 16, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMar 12, 2025
Mar 12, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportMar 12, 2025
Mar 12, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationFeb 09, 2025
Feb 09, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotFeb 07, 2025
Feb 07, 2025Technical Indicators
RSI(14)
Neutral 32.33
ATR(14)
Volatile 15.50
STOCH(9,6)
Oversold 19.44
STOCH RSI(14)
Neutral 27.14
MACD(12,26)
Bearish -0.42
ADX(14)
Weak Trend 17.88
UO(9)
Bullish 27.45
ROC(12)
Downtrend And Accelerating -5.08
WillR(14)
Oversold -97.54
Mutual Fund Holdings
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Groww Nifty Smallcap 250 Index Fund Direct - Growth 
Axis Nifty 500 Index Fund Direct-Growth 
Angel One Nifty Total Market Index Fund Direct - Growth About Maharashtra Seamless
Maharashtra Seamless Limited (MSL) is an India-based company founded in 1988, specializing in manufacturing steel pipes and tubes. The company operates in three segments: Steel Pipes & Tubes, Power Electricity, and RIG. MSL produces seamless pipes and tubes using CPE technology, as well as electric resistance welded (ERW) pipes. Their product range includes various types of pipes such as mild steel, galvanized, API line pipes, oil country tubular goods, boiler tubes, and coated pipes. The company has diversified into renewable power generation and rig operations. MSL's manufacturing plant is located in Raigad, Maharashtra, and the company has several subsidiaries both in India and abroad. The company has expanded its operations over the years, including entering the ERW pipe category in 2000, acquiring a seamless plant in Romania in 2008, and commissioning solar power plants in recent years.
Website
Chairperson NameD P Jindal
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