Maharashtra Seamless has announced the voluntary closure of four overseas entities: Discovery Oil and Mines Pte. Ltd. (Singapore), Zircon Drilling Supplies and Trading FZE (UAE), Star Drilling Pte. Ltd. (Singapore), and Dev Drilling Pte. Ltd. (Singapore). The company states that the closures will not significantly impact its operations or financial standing.
Overseas Subsidiaries and Associates Closed
Maharashtra Seamless has finalized the voluntary closure of several international subsidiaries and associated companies. The announcement, dated January 16, 2026, details the entities involved and confirms that these closures will have no material impact on the company’s overall performance.
Details of Closed Entities
The closed entities are:
- Discovery Oil and Mines Pte. Ltd. (DOMPL): A subsidiary registered in Singapore. Contributed Rs. 0.05 Crore to total income with a 0.00% consolidation percentage. Net worth was Nil.
- Zircon Drilling Supplies and Trading FZE (Zircon): A subsidiary registered in the UAE. Contributed Rs. 2.29 Crore to total income with a consolidation percentage of 0.042%. Net worth was Rs. 8.86 Crore, representing 0.15% of the consolidated net worth.
- Star Drilling Pte. Ltd. (Star Drilling): An associate registered in Singapore. Contributed Rs. 0.03 Crore to total income with a 0.00% consolidation percentage. Net worth was Nil.
- Dev Drilling Pte. Ltd. (Dev Drilling): An associate registered in Singapore. Contributed Rs. 1.43 Crore to total income with a consolidation percentage of 0.03%. Net worth was Nil.
The company has confirmed that the closure of these entities will not affect its operations or financial position.
Source: BSE
