Maharashtra Seamless Limited has released its audited financial results for the quarter and financial year ended March 31, 2026. The board approved the results during a meeting held on May 22, 2026, and recommended a dividend of ₹10 per share for the fiscal year 2025-26. Both standalone and consolidated performance reflected a decline in profitability and revenue compared to the previous year, with Q4 consolidated metrics also registering a year-on-year contraction.

Q4 Consolidated Performance

On a consolidated basis, Maharashtra Seamless reported a notable year-on-year decline in its quarterly metrics. Net profit, revenue, and operating profitability all came in lower compared to the same period in the prior year. The following table summarises the key Q4 consolidated figures:

Full-Year Financial Performance

For the financial year ended March 31, 2026, the company reported a standalone net profit of ₹718.16 crore, compared to ₹792.85 crore in the previous year. Total revenue from operations for the year stood at ₹4,671.41 crore, down from ₹5,265.90 crore in the prior year. For the quarter ended March 31, 2026, the standalone net profit was ₹107.53 crore, with revenue from operations at ₹1,279.91 crore.

On a consolidated basis, the net profit for the full year was ₹701.02 crore, a decrease from ₹777.32 crore in the previous year. Consolidated revenue from operations for FY26 was ₹4,674.34 crore. The company recorded exceptional items of ₹3.04 crore during the quarter ended March 31, 2026, related to past service costs in gratuity and leave.

The following table presents the key standalone financial metrics for the full year:

Dividend Declaration

The Board of Directors has recommended a dividend of ₹10 (200%) per equity share of ₹5 each for the financial year 2025-26. This dividend is subject to the approval of the company's members.

Operational Highlights

The company's total assets stood at ₹7,714.15 crore as of March 31, 2026, compared to ₹6,959.19 crore in the previous year. The Steel Pipes & Tubes segment remained the primary revenue driver, contributing ₹4,615.46 crore to the total segment revenue for the year.

Corporate Governance Decisions

In addition to the financial results, the board approved the appointment of M/s R. J. Goel & Co., Cost Accountants, as Cost Auditors for the financial year 2026-27. The board also approved a proposal to shift the Registered Office of the Company from Maharashtra to Haryana, subject to shareholder and regulatory approvals. Furthermore, the board approved a scheme of arrangement for the demerger of two business undertakings into separate companies.

Maharashtra Seamless Limited has incorporated a wholly-owned subsidiary, MSL Seamless Tubes Limited, on May 15, 2026. The company received confirmation from the Ministry of Corporate Affairs on May 16, 2026, at 09:44 p.m. IST. This disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Newly Incorporated Subsidiary

The following table provides a comprehensive overview of the incorporation details as disclosed by the company:

Business Scope of MSL Seamless Tubes Limited

MSL Seamless Tubes Limited will be engaged in the business of manufacturing all kinds of pipes and generation of electricity. The new subsidiary operates within the manufacturing and services industry segment, aligning with the parent company's existing business domain.

Disclosure Compliance

The intimation was filed by Company Secretary Ram Ji Nigam on May 16, 2026. The entire paid-up share capital of Rs.5,00,000 of MSL Seamless Tubes Limited is held by Maharashtra Seamless Limited as on the date of incorporation, confirming its status as a 100% subsidiary.