Maharashtra Seamless Ltd
Maharashtra Seamless Ltd (MAHSEAMLES) last reported results for the quarter ended Jun 2026, with sales of ₹1,091 crore and net profit of ₹266 crore. The stock last traded at ₹618, a market capitalisation of ₹8,283 crore, on a P/E of 11.2. Over the past 52 weeks the stock has ranged between ₹500 and ₹768. Figures are as of 9 Oct 2026 and are not real time.
Maharashtra Seamless Ltd share price and key metrics
- Current price
- ₹618
- Market cap
- ₹8,283 cr
- Stock P/E
- 11.2
- Book value
- ₹513
- ROE
- 10.7%
- ROCE
- 14.3%
- Dividend yield
- 1.62%
- 52w high / low
- 768/500
Metrics as of 9 Oct 2026. Not real time.
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Maharashtra Seamless Ltd growth and returns
- 10 Years
- 16%
- 5 Years
- 15%
- 3 Years
- -6%
- TTM
- -12%
- 10 Years
- 40%
- 5 Years
- 29%
- 3 Years
- -3%
- TTM
- -16%
- 10 Years
- 19%
- 5 Years
- 27%
- 3 Years
- 0%
- 1 Year
- 6%
- 10 Years
- 12%
- 5 Years
- 15%
- 3 Years
- 14%
- Last Year
- 11%
Maharashtra Seamless Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹1,091 cr, down 4.7% from ₹1,145 cr a year earlier. Net profit was ₹266 cr, up 15.7% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,292 | 1,408 | 1,418 | 1,145 | 1,159 | 1,090 | 1,280 | 1,091 |
| Expenses | 1,065 | 1,132 | 1,133 | 980 | 1,040 | 941 | 1,046 | 912 |
| Operating profit | 227 | 276 | 285 | 165 | 119 | 149 | 234 | 179 |
| OPM % | 18% | 20% | 20% | 14% | 10% | 14% | 18% | 16% |
| Other income | 91 | 2 | 40 | 160 | 76 | 200 | -51 | 174 |
| Interest | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 25 | 25 | 25 | 25 | 25 | 29 | 31 | 31 |
| Profit before tax | 292 | 252 | 299 | 300 | 169 | 319 | 151 | 322 |
| Tax % | 25% | 26% | 19% | 23% | 26% | 24% | 32% | 17% |
| Net profit | 220 | 186 | 242 | 230 | 125 | 243 | 103 | 266 |
| EPS (₹) | 16.42 | 13.89 | 18.06 | 17.19 | 9.35 | 18.13 | 7.67 | 19.88 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Maharashtra Seamless Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,434 | 2,150 | 3,052 | 2,645 | 2,308 | 4,211 | 5,716 | 5,404 | 5,269 | 4,674 | 4,620 |
| Operating profit | 225 | 311 | 669 | 509 | 441 | 583 | 1,011 | 1,199 | 908 | 669 | 681 |
| OPM % | 16% | 14% | 22% | 19% | 19% | 14% | 18% | 22% | 17% | 14% | 15% |
| Net profit | 116 | 200 | 202 | 115 | 121 | 692 | 768 | 952 | 777 | 701 | 737 |
| EPS (₹) | 9.21 | 15.73 | 17.48 | 6.26 | 7.32 | 51.62 | 57.07 | 71.00 | 58.03 | 52.34 | 55.03 |
TTM is the trailing twelve months to the most recent quarter.
Maharashtra Seamless Ltd balance sheet
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 34 | 34 | 34 | 34 | 34 | 34 | 67 | 67 | 67 | 67 |
| Reserves | 2,650 | 2,896 | 3,037 | 3,171 | 3,265 | 3,951 | 4,707 | 5,664 | 6,273 | 6,809 |
| Borrowings | 703 | 626 | 1,059 | 1,145 | 922 | 709 | 244 | 0 | 0 | 13 |
| Other liabilities | 470 | 483 | 666 | 889 | 1,135 | 695 | 841 | 852 | 693 | 849 |
| Total liabilities | 3,856 | 4,039 | 4,795 | 5,239 | 5,356 | 5,388 | 5,859 | 6,583 | 7,033 | 7,739 |
| Fixed assets | 1,095 | 1,235 | 1,173 | 2,364 | 2,268 | 2,135 | 2,016 | 1,950 | 1,862 | 1,862 |
| CWIP | 119 | 17 | 23 | 29 | 9 | 13 | 14 | 3 | 14 | 73 |
| Investments | 1,529 | 1,461 | 1,276 | 1,007 | 1,071 | 646 | 1,177 | 2,098 | 2,892 | 3,821 |
| Other assets | 1,113 | 1,326 | 2,322 | 1,840 | 2,008 | 2,593 | 2,651 | 2,533 | 2,265 | 1,983 |
| Total assets | 3,856 | 4,039 | 4,795 | 5,239 | 5,356 | 5,388 | 5,859 | 6,583 | 7,033 | 7,739 |
As reported by the company. Total assets equal total liabilities by construction.
Maharashtra Seamless Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 241 | 93 | -183 | 748 | 447 | -269 | 912 | 1,041 | 610 | 933 |
| Cash from investing | -107 | 13 | -161 | -730 | -183 | 563 | -386 | -722 | -486 | -775 |
| Cash from financing | -133 | -95 | 387 | 7 | -285 | -286 | -542 | -320 | -136 | -123 |
| Net cash flow | 2 | 10 | 44 | 25 | -21 | 8 | -17 | 0 | -13 | 35 |
| Free cash flow | 108 | -10 | -206 | -98 | 428 | -277 | 893 | 1,009 | 586 | 764 |
| CFO / operating profit | 139% | 57% | -1% | 172% | 106% | -49% | 97% | 105% | 86% | 165% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Maharashtra Seamless Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 6% | 9% | 18% | 11% | 9% | 12% | 20% | 23% | 17% | 14% |
| Debtor days | 79 | 66 | 59 | 50 | 75 | 48 | 41 | 35 | 45 | 44 |
| Inventory days | 192 | 132 | 150 | 172 | 255 | 182 | 148 | 175 | 148 | 140 |
| Days payable | 55 | 34 | 53 | 129 | 194 | 61 | 29 | 32 | 17 | 31 |
| Cash conversion cycle | 215 | 165 | 155 | 93 | 135 | 169 | 160 | 178 | 176 | 153 |
| Working capital days | 103 | 155 | 196 | 105 | 135 | 148 | 130 | 137 | 133 | 116 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Maharashtra Seamless Ltd shareholding pattern
Promoters held 70.28% at Jun 2026, up from 68.87% at Jun 2025. FIIs 9.72% and DIIs 3.84%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 68.04% | 68.06% | 68.85% | 68.87% | 69.05% | 69.81% | 70.28% | 70.28% |
| FIIs | 7.97% | 9.12% | 9.63% | 10.42% | 9.86% | 9.51% | 9.58% | 9.72% |
| DIIs | 4.34% | 3.85% | 3.97% | 4.09% | 3.64% | 2.91% | 3.29% | 3.84% |
| Public | 19.65% | 18.96% | 17.54% | 16.64% | 17.46% | 17.77% | 16.83% | 16.17% |
| No. of shareholders | 96,466 | 1,29,024 | 1,05,737 | 93,504 | 94,257 | 92,943 | 88,783 | 83,466 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Maharashtra Seamless Ltd corporate filings
- Maharashtra Seamless Limited (MSL) announces scheme of demerger involving two operational units into wholly owned subsidiaries, with no immediate financial impact but strategic realignment.Company Updatemedium impact
Cruxal's analysis: MSL has approved a scheme of arrangement to demerge its seamless pipe manufacturing…
Read the full analysis - Maharashtra Seamless Limited announces resignation of Director Pithelis Raj SanthanamarianCompany Updatelow impact
Cruxal's analysis: Maharashtra Seamless Limited has formally notified the stock exchanges regarding the…
Read the full analysis - Intimation of closure of Trading WindowInsider Trading / SASTlow impact
- Maharashtra Seamless Ltd schedules analyst/investor meetingCompany Updatelow impact
Cruxal's analysis: Maharashtra Seamless Ltd has issued an intimation regarding a scheduled analyst/investor…
Read the full analysis - Maharashtra Seamless Limited concludes 38th AGM; shareholders approve financial statements, dividend, and board appointmentsAGM/EGMlow impact
Cruxal's analysis: Maharashtra Seamless Limited has successfully concluded its 38th Annual General Meeting…
Read the full analysis - Maharashtra Seamless Limited concludes 38th Annual General Meeting; approves financial statements and dividend declarationAGM/EGMlow impact
Cruxal's analysis: Maharashtra Seamless Limited has successfully concluded its 38th Annual General Meeting…
Read the full analysis - Maharashtra Seamless Limited Issues Corrigendum to 38th Annual Report for FY 2025-26Otherslow impact
Cruxal's analysis: Maharashtra Seamless Limited has issued a corrigendum to its 38th Annual Report for the…
Read the full analysis - Maharashtra Seamless Ltd issues notice for Annual Report and AGM accessCompany Updatelow impact
Cruxal's analysis: Maharashtra Seamless Ltd has dispatched a letter to shareholders providing the web-link…
Read the full analysis - Maharashtra Seamless Ltd publishes notice for Annual General Meeting and e-voting detailsCompany Updatelow impact
Cruxal's analysis: Maharashtra Seamless Ltd has published a newspaper advertisement regarding the notice of…
Read the full analysis - Maharashtra Seamless Ltd files Business Responsibility and Sustainability Report (BRSR) for FY 2025-26Otherslow impact
Cruxal's analysis: Maharashtra Seamless Ltd has submitted its Business Responsibility and Sustainability…
Read the full analysis - Maharashtra Seamless Ltd releases Annual Report for FY 2025-26Otherslow impact
Cruxal's analysis: Maharashtra Seamless Ltd has filed its Annual Report for the financial year 2025-26…
Read the full analysis - Maharashtra Seamless Limited Announces 38th Annual General Meeting for September 15, 2026AGM/EGMlow impact
Cruxal's analysis: Maharashtra Seamless Limited has issued a formal notice for its 38th Annual General…
Read the full analysis - Intimation regarding publication of Pre AGM Notice and Record DateCompany Updatemedium impact
- Maharashtra Seamless Limited releases transcript of Q1 FY27 earnings conference callCompany Updatelow impact
Cruxal's analysis: Maharashtra Seamless Limited has formally filed the transcript of its Q1 FY27 earnings…
Read the full analysis - Maharashtra Seamless Limited reports Q1 FY27 standalone net profit of 270.78 crore with EPS of 20.21Company Updatemedium impact
Cruxal's analysis: Maharashtra Seamless Limited reported standalone financial results for the quarter ended…
Read the full analysis - Maharashtra Seamless Ltd releases audio recording of conference call held on 8th August 2026Company Updatelow impact
Cruxal's analysis: Maharashtra Seamless Ltd has filed the audio recording of its conference call conducted…
Read the full analysis - Maharashtra Seamless Q1 FY27 Earnings: Strong Profitability Driven by Operational Efficiency and Strategic CapexCompany Updatehigh impact
Cruxal's analysis: Maharashtra Seamless Limited reported a robust Q1 FY27 performance with a Profit After…
Read the full analysis - Maharashtra Seamless Limited schedules 38th AGM for 15th September 2026 and sets 1st September 2026 as record date for dividendCorp. Actionlow impact
Cruxal's analysis: Maharashtra Seamless Limited has announced that its 38th Annual General Meeting will be…
Read the full analysis - Maharashtra Seamless Limited Reports Strong Q1 FY27 Results with Net Profit of 266.40 crore and Announces Board AppointmentsResulthigh impact
Cruxal's analysis: Maharashtra Seamless Limited reported a robust performance for the quarter ended 30th…
Read the full analysis - Maharashtra Seamless Ltd schedules analyst/investor meetingCompany Updatelow impact
Cruxal's analysis: Maharashtra Seamless Ltd has issued an intimation regarding a scheduled analyst/investor…
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