Maharashtra Seamless Limited has informed the Exchange about Transcript
MAHSEAMLES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Maharashtra Seamless reported a weak Q1 FY26 with revenue declining 11% to Rs. 1,303 crores and EBITDA falling sharply by 41% to Rs. 165 crores, though PAT was down only 4% to Rs. 234 crores helped by Rs. 160 crores of treasury income. The company dispatched about 1,03,000 tonnes of seamless pipes but flagged a marked slowdown in order booking, attributed to Chinese dumping and reduced spending in the oil and gas sector, which pulled down realisations. Order book stood at Rs. 1,149 crores, down from the desired Rs. 1,500 crore level, and management guided that September quarter margins are likely to remain muted with no improvement in EBITDA per ton expected. The Telangana 1 lakh tonne finishing line is on track to begin partial production by January 2026, treasury holdings remain healthy at Rs. 2,919 crores, and anti-dumping duty is up for renewal in October 2026.
Near-term outlook is negative for shareholders as core operations are under pressure from weak demand, Chinese imports and slow PSU tender issuance, which has pulled margins sharply lower. However, the strong cash pile, AA+ credit rating and ongoing capex provide a cushion; the stock may remain range-bound until order inflows from ONGC and Oil India revive in the second half of FY26.