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Maharashtra Seamless Limited MAHSEAMLES NSEINFRA

Basic Materials · Steel · India
https://www.jindal.com/msl
Company Profile ↓
₹560.85
-16.29% 1Y
Mkt Cap₹7,515.35 Cr
P/E10.19
P/B1.21
Div. Yield1.55%
52W High₹737.65
52W Low₹498.81
Book Value₹512.91
EPS (TTM)₹55.02

Company Overview

Maharashtra Seamless Limited engages in the manufacture and sale of seamless steel pipes and tubes in India. The company operates through three segments: Steel Pipes & Tubes, Power – Electricity, and RIG. It offers mild steel and galvanized pipes; API line pipes; oil country tubular goods (OCTG) pipes; and hot finished pipes and tubes, and cold drawn and boiler tubes. It also provides coated pipes, such aas 3 layer polyethylene coated pipes, fusion bonded epoxy coated pipes, 3 layer polypropylene coated pipes, and internal epoxy coating pipes. In addition, the company is involved in renewable power generation and rig operations. Further, the company operates 5MW solar power plant in Pokaran, District Jaisalmer Rajasthan and 7 MW wind power project in Maharashtra. Its products are used in the oil and gas, hydrocarbon process, bearing industry, automotive, boiler, heat exchanger, plumbing and firefighting, structural, general engineering, railways, sewage and water well, and hydraulic cylinder sectors. The company was incorporated in 1988 and is headquartered in New Delhi, India.

Why Investors Should Care

Reasonable Valuation

Trades at a P/E of 10.2, below the sector median of 21.1.

Healthy Margins

Maintains a net profit margin of 16.0%.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.19.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹4,674.34 Cr (-11.3% YoY); net profit ₹701.27 Cr.
  • Trailing 12 Months Year-on-year growth — revenue -4.7%, earnings +15.6%.
  • 5-Year Trend Long-term compounding — revenue CAGR -5.7%, profit CAGR -2.8%.

Growth & Price Performance

Compounded Sales Growth

5 Years:-5.70%
1 Year:-4.70%

Compounded Profit Growth

5 Years:-2.85%
1 Year:15.60%

Stock Price Performance

1 Year:-16.29%
6 Months:-12.02%
3 Months:+0.77%
1 Month:-20.67%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bearish
52-Week Range 26% of range
₹498.81 ₹737.65
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMABelow
  • RSI (14)26.34 · Oversold
Price Performance
1M-20.67%
3M+0.77%
6M-12.02%
1Y-16.29%
Valuation vs Sector

P/E of 10.19 is below the sector median of 21.09 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Revenue declined at -5.7% CAGR over 5 years.
  • Earnings shrank at -2.8% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
10.19
Industry PE
21.09
Forward P/E est.
8.81
PEG Ratio
-
Book Value
₹512.91
Price to Book
1.21
P/S
1.79
EV/EBITDA
7.18
Dividend Yield
1.55%

Growth (CAGR)

Revenue 5Y
-5.70%
Profit 5Y
-2.85%
Revenue (YoY)
-4.70%
Earnings (YoY)
15.60%

Profitability & Returns

ROCE
12.82%
ROE
10.20%
ROA
9.06%
Profit Margin
15.96%
Op Margin
13.95%
Gross Margin
37.44%
EPS (Latest Qtr)
₹7.67
EPS (TTM)
₹55.02

Balance Sheet & Liquidity

Debt/Equity
0.19
Quick Ratio
11.27
Current Ratio
14.17
Debt
₹13.36 Cr
Total Assets
₹7,739.04 Cr
Current Assets
₹5,557.84 Cr
Working Capital
₹5,165.59 Cr

Ownership

Promoter Holding
72.13%
Chg in Prom Hold
-0.03%
FII / Inst Holding
7.13%
Chg in FII Hold
0.01%

Financial Snapshot

Enterprise Value
₹7,515.35 Cr
Total Revenue (TTM)
₹4,620.27 Cr
EBITDA
₹692.26 Cr
Free Cash Flow
₹763.57 Cr
Operating Cash Flow
₹933.24 Cr
Shares Outstanding
₹13.40 Cr
Gross Margin
37.44%
Payout Ratio
18.18%

Peer comparison

Peer companies in the same sector (Basic Materials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MAHSEAMLES Maharashtra Seamless Limited NSEINFRA 560.85 10.19 ₹7,515.35 Cr 1.55% 12.82% 10.20% -5.70% -2.85%
2 ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA 10,849.00 37.39 ₹3.19 L Cr 2.25% 11.84% 10.66% 11.92% 17.26%
3 JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA 1,222.90 12.07 ₹2.99 L Cr 0.58% 18.75% 22.30% 3.61% 75.28%
4 ASIANPAINT Asian Paints Limited NIFTY50NSEINFRA 2,319.40 46.14 ₹2.22 L Cr 1.19% 24.41% 20.24% 1.10% 1.75%
5 HINDZINC Hindustan Zinc Limited NSEINFRA 525.00 13.00 ₹2.22 L Cr 2.07% 61.97% 61.13% 5.61% 9.58%
6 TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA 172.45 19.49 ₹2.15 L Cr 2.33% 11.32% 10.56% -1.59% 7.21%
7 HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA 892.85 12.11 ₹1.98 L Cr 0.56% 9.42% 9.80% 7.10% 9.87%
8 GRASIM Grasim Industries Limited NIFTY50NSEINFRA 2,889.10 34.46 ₹1.96 L Cr 0.35% 3.98% 4.80% 14.30% -10.06%
9 SOLARINDS Solar Industries India Limited NSEINFRA 19,259.00 87.52 ₹1.74 L Cr 0.06% 29.51% 26.72% 12.39% 30.36%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 1,633.00 Cr1,223.00 Cr1,535.00 Cr1,431.00 Cr1,215.00 Cr1,151.00 Cr1,292.00 Cr1,408.11 Cr1,417.77 Cr1,145.27 Cr1,159.00 Cr1,090.29 Cr1,280.11 Cr
Cost of Revenue -------871.01 Cr857.51 Cr718.05 Cr-701.25 Cr772.60 Cr
Gross Profit -------537.10 Cr560.26 Cr427.22 Cr-389.04 Cr507.51 Cr
Operating Expenses 1,319.00 Cr988.00 Cr1,207.00 Cr1,065.00 Cr945.00 Cr1,032.00 Cr1,065.00 Cr282.79 Cr300.49 Cr283.66 Cr1,040.00 Cr265.48 Cr301.03 Cr
Operating Income 280.00 Cr201.00 Cr302.00 Cr340.00 Cr246.00 Cr94.00 Cr202.00 Cr254.31 Cr259.77 Cr143.56 Cr94.00 Cr123.56 Cr206.48 Cr
EBITDA 314.00 Cr235.00 Cr328.00 Cr366.00 Cr270.00 Cr119.00 Cr227.00 Cr277.55 Cr324.76 Cr325.09 Cr119.00 Cr349.04 Cr183.27 Cr
Interest Expense 6.00 Cr7.00 Cr1.00 Cr1.00 Cr01.00 Cr1.00 Cr52.00 L50.00 L48.00 L082.00 L85.00 L
Pretax Income 301.00 Cr228.00 Cr331.00 Cr374.00 Cr290.00 Cr158.00 Cr292.00 Cr251.75 Cr298.87 Cr299.65 Cr169.00 Cr319.46 Cr151.17 Cr
Tax Provision -72.24 Cr20.52 Cr79.44 Cr97.24 Cr72.50 Cr28.44 Cr73.00 Cr65.69 Cr56.61 Cr69.35 Cr43.94 Cr76.81 Cr48.33 Cr
Net Income 373.00 Cr207.00 Cr251.00 Cr276.00 Cr218.00 Cr129.00 Cr220.00 Cr186.07 Cr242.04 Cr230.32 Cr125.00 Cr242.86 Cr102.83 Cr
Diluted EPS 27.6215.4218.6920.5916.309.6516.4213.8918.0617.199.3518.127.67

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 1,355.00 Cr1,019.00 Cr1,434.00 Cr2,150.00 Cr3,052.00 Cr2,645.00 Cr2,308.00 Cr-5,575.09 Cr5,271.65 Cr5,268.67 Cr4,674.34 Cr
Cost of Revenue --------4,327.34 Cr3,897.16 Cr3,317.32 Cr2,975.28 Cr
Gross Profit --------1,247.75 Cr1,374.49 Cr1,951.35 Cr1,699.06 Cr
Operating Expenses 1,249.00 Cr980.00 Cr1,209.00 Cr1,839.00 Cr2,383.00 Cr2,135.00 Cr1,867.00 Cr-327.03 Cr261.48 Cr1,132.02 Cr1,127.98 Cr
Operating Income 74.00 Cr-33.00 Cr154.00 Cr235.00 Cr589.00 Cr421.00 Cr320.00 Cr-920.72 Cr1,113.01 Cr819.33 Cr571.08 Cr
EBITDA 105.00 Cr38.00 Cr225.00 Cr311.00 Cr669.00 Cr509.00 Cr441.00 Cr-1,093.53 Cr1,336.18 Cr1,103.88 Cr1,052.16 Cr
Interest Expense 20.00 Cr26.00 Cr34.00 Cr42.00 Cr39.00 Cr64.00 Cr56.00 Cr-32.15 Cr3.65 Cr2.76 Cr2.58 Cr
Pretax Income 129.00 Cr-2.00 Cr196.00 Cr292.00 Cr433.00 Cr161.00 Cr173.00 Cr-923.66 Cr1,222.81 Cr1,000.20 Cr939.42 Cr
Tax Provision 37.41 Cr-30.42 Cr80.36 Cr90.52 Cr229.49 Cr46.69 Cr51.90 Cr-156.04 Cr271.15 Cr222.88 Cr238.40 Cr
Net Income 118.00 Cr-24.00 Cr116.00 Cr200.00 Cr202.00 Cr115.00 Cr121.00 Cr-764.75 Cr951.30 Cr777.46 Cr701.27 Cr
Diluted EPS 8.79-1.819.2115.7317.486.267.32-57.0770.9958.0252.33

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 4,026.00 Cr3,684.00 Cr3,856.00 Cr4,039.00 Cr4,795.00 Cr5,239.00 Cr5,356.00 Cr-5,858.76 Cr6,583.20 Cr7,033.26 Cr7,739.04 Cr
Current Assets --------3,207.52 Cr3,609.05 Cr4,434.78 Cr5,557.84 Cr
Cash & Equivalents --------54.41 Cr54.52 Cr41.82 Cr76.70 Cr
Inventory --------1,505.83 Cr1,576.12 Cr1,341.65 Cr1,138.71 Cr
Receivables --------642.47 Cr518.32 Cr653.48 Cr564.68 Cr
Total Liabilities --------1,084.80 Cr852.50 Cr693.19 Cr862.59 Cr
Current Liabilities --------543.28 Cr430.09 Cr271.31 Cr392.25 Cr
Long Term Debt --------161.83 Cr010.00 L8.69 Cr
Total Debt 916.00 Cr665.00 Cr703.00 Cr626.00 Cr1,059.00 Cr1,145.00 Cr922.00 Cr-244.19 Cr4.00 L10.00 L13.36 Cr
Total Equity 2,797.00 Cr2,583.00 Cr2,684.00 Cr2,930.00 Cr3,071.00 Cr3,205.00 Cr3,299.00 Cr-4,773.96 Cr5,730.70 Cr6,340.07 Cr6,876.45 Cr
Shares Outstanding --------13.40 Cr13.40 Cr13.40 Cr13.40 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 104.00 Cr122.00 Cr241.00 Cr93.00 Cr-183.00 Cr748.00 Cr447.00 Cr-911.80 Cr1,041.42 Cr609.63 Cr933.24 Cr
Investing Cash Flow -630.00 Cr12.00 Cr-107.00 Cr13.00 Cr-161.00 Cr-730.00 Cr-183.00 Cr--382.15 Cr-721.62 Cr-485.28 Cr-774.81 Cr
Financing Cash Flow 527.00 Cr-141.00 Cr-133.00 Cr-95.00 Cr387.00 Cr7.00 Cr-285.00 Cr--542.08 Cr-319.66 Cr-137.14 Cr-122.74 Cr
Capital Expenditure -152.00 Cr-13.00 Cr-133.00 Cr-103.00 Cr-23.00 Cr-846.00 Cr-19.00 Cr--18.81 Cr-32.10 Cr-23.21 Cr-169.67 Cr
Free Cash Flow -48.00 Cr109.00 Cr108.00 Cr-10.00 Cr-206.00 Cr-98.00 Cr428.00 Cr-892.99 Cr1,009.32 Cr586.42 Cr763.57 Cr
Net Change in Cash 2.00 Cr-6.00 Cr2.00 Cr10.00 Cr44.00 Cr25.00 Cr-21.00 Cr--12.43 Cr14.00 L-12.79 Cr35.69 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------22.4%26.1%37.0%36.3%
Operating Margin % 5.5%-3.2%10.7%10.9%19.3%15.9%13.9%-16.5%21.1%15.6%12.2%
Net Margin % 8.7%-2.4%8.1%9.3%6.6%4.3%5.2%-13.7%18.0%14.8%15.0%
ROE % 4.2%-0.9%4.3%6.8%6.6%3.6%3.7%-16.0%16.6%12.3%10.2%
ROCE % --------17.3%18.1%12.1%7.8%

Shareholding Pattern

Insiders
72.13%
Institutions
7.13%
Public Float
25.59%

Analyst View

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Latest News

Recent headlines for MAHSEAMLES

Google News hu, 25 Jun 2026

Maharashtra Seamless Limited Actuals & Estimates (NSE:MAHSEAMLES) - TradingView

<a href="https://news.google.com/rss/articles/CBMiigFBVV95cUxNQTlyOUJva01rYkFEVTVpdHNVVXdFdWM3bFp2bHdOZVVVenBpbXNSSmlMUGdQU0IwWGUtb1JMNkg5VmpYTnB1SVlnTy1YX1NIbDVtNGUzXzZRamc0aXdOdkNNdjAySV96N0ZobkpXbkhJZm56bEJsSVpmd1I5bWRHLU1KREQ2T0d2UkE?oc…

Google News Mon, 19 Oct 2026

Maharashtra Seamless (MAHSEAMLES.NS) Slips 1.81% to ₹585.95 as Stock Retreats From Upper Range - Dealer Gamma - https://www.siam.in/

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Google News Fri, 28 Aug 2026

There's A Lot To Like About Maharashtra Seamless' (NSE:MAHSEAMLES) Upcoming ₹10.00 Dividend - Simply Wall Street

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Google News Wed, 07 Oct 2026

News by CNBC TV18 on TradingView, 2026-10-08 — cnbctv:3babca198094b:0 - TradingView

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Google News ue, 30 Jun 2026

HOT STOCKS: SHILPAMED Hits All-Time High; WSTCSTPAPR, CGCL, ARVIND, GLAND Lead Gainers; MAHSEAMLES Slips Below 100-DMA While CANFINHOME, SCHAEFFLER Climb Above 50-SMA - MarketSmith India

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Google News Mon, 12 Oct 2026

Maharashtra Seamless (NSE:MAHSEAMLES): What Does Its Q2 FY27 Depository Compliance Certificate Mean? - Kalkine India

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MAHSEAMLES — Frequently Asked Questions

What is the current share price of Maharashtra Seamless Limited (MAHSEAMLES)?

As of 2026-10-23 04:58 IST, Maharashtra Seamless Limited (MAHSEAMLES) trades at ₹560.85 on NSE. Its 52-week range is ₹498.81 to ₹737.65.

What is the market capitalisation of MAHSEAMLES?

Maharashtra Seamless Limited (MAHSEAMLES) has a market capitalisation of ₹7,515.35 Cr on NSE.

What is the P/E ratio of MAHSEAMLES?

MAHSEAMLES trades at a trailing price-to-earnings (P/E) ratio of 10.19. The industry average P/E is 21.09. Its price-to-book (P/B) ratio is 1.21.

Does MAHSEAMLES pay a dividend?

Maharashtra Seamless Limited (MAHSEAMLES) currently offers a dividend yield of 1.55%.

What is the return on equity (ROE) of MAHSEAMLES?

MAHSEAMLES has a return on equity (ROE) of 10.20%. Its return on capital employed (ROCE) is 12.82%.

Is MAHSEAMLES a good stock to buy?

This page provides a data-driven analysis of Maharashtra Seamless Limited (MAHSEAMLES), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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