Maharashtra Seamless Limited has released its Earnings Presentation for the quarter ended September 30, 2026. The presentation details the company’s financial performance, segment-wise capacities, products, key balance sheet items, and operational highlights. Key financial metrics such as total revenue, EBIDTA, PAT, and EPS are provided for various periods, including quarterly and annual comparisons.
Maharashtra Seamless Q2 FY27 Earnings Presentation
Maharashtra Seamless Limited has issued its Earnings Presentation for the quarter that concluded on September 30, 2026. This disclosure, made in compliance with SEBI regulations, offers stakeholders a comprehensive view of the company’s recent financial and operational performance.
Financial Highlights
The presentation includes quarterly highlights for Maharashtra Seamless, featuring trends in Total Revenue, EBIDTA & EBIDTA margin, PAT & PAT margin, and EPS. For the quarter ending Q2 FY27, Total Revenue stood at Rs. 1268 crore, EBIDTA was Rs. 133 crore with a margin of 10%, and PAT was Rs. 78 crore with a margin of 6%. The EPS for the quarter was Rs. 6.
Annual highlights show Total Revenue of Rs. 5059 crore for FY26, EBIDTA of Rs. 684 crore (15% margin), PAT of Rs. 718 crore (15% margin), and EPS of Rs. 54.
Profit & Loss Comparison
A detailed comparison of the Profit & Loss statement reveals that for Q2 FY27, Revenue from operations was Rs. 1270 crore, leading to a Profit after tax of Rs. 78 crore. This contrasts with Q1 FY27, where Revenue was Rs. 1091 crore and Profit after tax was Rs. 271 crore.
Operational Performance and Segments
The company’s operational performance is segmented into Seamless Pipes, ERW Pipes, Renewable Energy, and Rig. Capacities for Seamless Pipes include 450,000 mt/annum in Maharashtra and 200,000 mt/annum in Telangana. ERW Pipes capacity is 125,000 mt/annum. The Renewable Energy segment includes a 50 MW AC Solar plant in Maharashtra and Rajasthan, and a 7 MW Wind plant in Maharashtra. The Rig segment features a new generation offshore jack-up rig on a 3-year contract until November 2028.
Market share data indicates 55% in the seamless pipes segment and 18% in the API certified, high-frequency ERW pipes segment.
Key Balance Sheet Items
As of September 26, the company’s key balance sheet items include total liquid investments of Rs. 3706 crore. Gross debt was reported as Rs. 5 crore, resulting in a Net Debt / (Cash) position of (Rs. 3701 crore), indicating a strong net cash position.
Capital Allocation and Order Book
The company has outlined capital expenditure plans totaling Rs. 852 crore across various projects, including capacity enhancement and mill upgrades. Financing for these initiatives will be met from accumulated cash and internal accruals. The order book as of November 10, 2026, stands at Rs. 2203 crore, with significant contributions from ONGC & OIL (Rs. 737 crore) and Others (Rs. 1466 crore).
Market Trends and Government Policies
The presentation also touches upon market trends, including global oil demand projections and India’s energy sector outlook. Government policies such as Anti-Dumping Duty and the revised DMI & SP policy are highlighted for their potential impact on the industry. Sales and marketing updates cover new discoveries in the oil and gas sector and approvals for cylinder pipes.
Shareholding Structure
As of September 30, 2026, the shareholding structure shows Promoters holding 70.30%, FII holding 9.93%, DII holding 3.87%, and Others 15.90%. Key changes in Q2 FY27 versus Q1 FY27 indicate a slight increase in promoter, FII, and DII holdings.
Source: BSE
