Maharashtra Seamless Limited has informed the Exchange about Presentation
MAHSEAMLES · price
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Awaiting price reaction for this filing.
Maharashtra Seamless reported a sharp sequential and year-on-year decline in Q2 FY26. Total revenue fell to Rs. 1,234 crore from Rs. 1,382 crore in Q2 FY25, while EBITDA nearly halved to Rs. 123 crore (margin compressed to 11% from 18%). Profit after tax dropped to Rs. 130 crore (margin 11%) versus Rs. 224 crore in Q2 FY25, with EPS at Rs. 10 against Rs. 17 earlier. On a half-yearly basis, however, PAT was marginally higher at Rs. 364 crore versus Rs. 360 crore in H1 FY25. The company carries a strong order book of Rs. 1,378 crore as of 31 October 2025, with ONGC and OIL accounting for Rs. 376 crore. The balance sheet remains debt-free with a net cash position of Rs. 3,105 crore, and management announced a Rs. 852 crore capex plan fully funded from internal accruals, expected to generate Rs. 2,000 crore in additional annual turnover.
The steep YoY decline in profitability reflects weak realisations and lower ERW segment contribution, which may weigh on the stock in the near term. However, the zero-debt balance sheet, Rs. 1,378 crore order book and Rs. 852 crore capex plan for value-added products indicate management confidence in long-term growth and downside protection.