Maharashtra Seamless Limited , a leading manufacturer of seamless and ERW pipes, has announced robust financial results for the first quarter of fiscal year 2026, ending June 30, 2025. The company reported a net profit of ₹233.86 crore, showcasing its continued strong performance in the market.

Financial Highlights

• Revenue: The company's total revenue for Q1 FY26 stood at ₹1,302.57 crore, compared to ₹1,215.56 crore in the same quarter last year, marking a 7.16% year-on-year increase.
• Net Profit: Maharashtra Seamless recorded a net profit of ₹233.86 crore, up from ₹135.95 crore in Q1 FY25, representing a significant 72% year-on-year growth.
• EBITDA: The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter was ₹169.00 crore, with an EBITDA margin of 15%.
• Earnings Per Share (EPS): The Basic and Diluted EPS for the quarter stood at ₹17.45, compared to ₹10.15 in the same period last year.

Segment Performance

Maharashtra Seamless operates in multiple segments, with Steel Pipes & Tubes being its primary business. The segment-wise performance for Q1 FY26 is as follows:

1. Steel Pipes & Tubes: This segment generated revenue of ₹1,126.44 crore, contributing significantly to the company's overall performance.
2. Power - Electricity: The power segment reported revenue of ₹20.84 crore.
3. Rig: The rig segment contributed ₹9.06 crore to the total revenue.

Order Book and Future Outlook

As of July 25, 2025, Maharashtra Seamless maintains a robust order book of ₹1,149.00 crore. The order book composition is as follows:

The company's strong order book position indicates a positive outlook for the coming quarters.

Capital Allocation and Expansion Plans

Maharashtra Seamless has announced significant capital expenditure plans totaling ₹852.00 crore, aimed at enhancing its production capabilities and value-added offerings. Key investments include:

• Heat treatment, finishing facilities, and EMI for capacity enhancement at Narketpally (USTPL)
• Complete line for cold drawn pipes at Mangaon
• OCTG line and billet pre-heating surface at Mangaon
• Hot mill upgrade to PQF (14") at Nagothane

These investments are expected to increase the company's annual turnover substantially, with the potential to add approximately ₹1,900.00 crore to its top line.

Financial Position

Maharashtra Seamless continues to maintain a strong financial position with a net cash balance of ₹2,914.00 crore as of June 30, 2025. This robust liquidity provides the company with ample resources to fund its expansion plans and capitalize on growth opportunities in the market.

Management Commentary

Saket Jindal, Managing Director of Maharashtra Seamless Limited, commented on the results, stating, "Our Q1 FY26 performance demonstrates the resilience of our business model and the strength of our market position. The significant increase in net profit and the healthy order book underscore the growing demand for our products. We are excited about our expansion plans, which will further enhance our capabilities and drive long-term growth."

Maharashtra Seamless Limited's strong Q1 FY26 results, coupled with its strategic investments and solid order book, position the company well for continued growth in the pipes and tubes sector. As the company moves forward with its expansion plans, investors and industry observers will be keenly watching its performance in the coming quarters.

Maharashtra Seamless Limited , a leading player in the steel pipes and tubes sector, has reported a robust financial performance for the first quarter ended June 30, 2025, with a significant increase in profitability despite a marginal dip in revenue.

Financial Highlights

The company's standalone net profit after tax surged by 72% to Rs. 233.86 crore, compared to Rs. 135.95 crore in the same quarter last year. This impressive growth in profitability came despite a slight decrease in revenue from operations, which stood at Rs. 1,142.86 crore, down from Rs. 1,150.85 crore in the corresponding period.

On a consolidated basis, Maharashtra Seamless reported a net profit of Rs. 230.30 crore, up from Rs. 128.84 crore in the previous year, marking a substantial 78.7% increase. The consolidated revenue was Rs. 1,145.27 crore, compared to Rs. 1,150.98 crore in the same quarter last year.

Segment Performance

The company's financial results reveal strong performances across its key business segments:

Board Recommendations

In addition to the financial results, the board of directors made several key recommendations:

1. New Independent Director: The board has recommended the appointment of Mrs. Dipika Agarwal as an Independent Director for a five-year term starting September 28, 2025, subject to shareholder approval. Mrs. Agarwal, an MBA from the Institute of Chartered Financial Analysts of India (ICFAI), brings expertise in financial analysis, strategic management, and business development.

2. Secretarial Auditor: M/s Ajit Mishra & Associates, a peer-reviewed firm of Company Secretaries, has been proposed as the Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30, pending shareholder approval.

Dividend and AGM Announcement

The company has also announced its 37th Annual General Meeting, scheduled for August 28, 2025, to be held through video conferencing. A record date of August 14, 2025, has been set to determine eligibility for dividend payments for the financial year 2024-25. If declared at the AGM, the dividend will be paid on or after August 30, 2025.

Market Outlook

Maharashtra Seamless Limited's strong Q1 performance, particularly the significant profit growth, indicates effective cost management and operational efficiency. The company's diverse business segments, including steel pipes & tubes, power generation, and rig operations, provide a balanced portfolio that seems to be navigating market challenges successfully.

The proposed appointment of a new Independent Director and Secretarial Auditor reflects the company's commitment to strong corporate governance practices. As Maharashtra Seamless moves forward, investors and industry observers will be keen to see if the company can maintain this growth trajectory in the face of global economic uncertainties and fluctuating commodity prices.