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MAHSEAMLES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Maharashtra Seamless Limited reported FY2026 standalone revenue of Rs 4,671.41 crore, down 11.3% from Rs 5,265.90 crore in FY2025. Net profit after tax fell to Rs 718.16 crore from Rs 792.85 crore, a decline of about 9.4%. The Steel Pipes & Tubes segment, which contributes most revenue, saw full-year sales drop from Rs 5,168 crore to Rs 4,615 crore. The Board recommended a dividend of Rs 10 per share (200%) for FY2026. The auditors issued an unmodified opinion on standalone results but issued a qualified opinion on consolidated results due to uncertainties around a joint venture, Gondkhari Coal Mining Ltd, which has fully eroded net worth. The company also proposed shifting its registered office from Maharashtra to Haryana and announced a scheme of arrangement for demerger of two business undertakings.
The revenue and profit decline in a core segment like steel pipes may concern investors, though the dividend payout signals management confidence. The qualified audit opinion on consolidated results raises some red flags regarding the joint venture's financial health and warrants closer monitoring of related party exposures.