MAHSEAMLES Maharashtra Seamless Q2 FY26 results (Jul–Sep 2025) and concall
Maharashtra Seamless reported a challenging Q2 FY26 with significant declines in revenue, EBITDA, and PAT, primarily due to a slowdown in the oil and gas sector, persistent Chinese dumping, and a notional inventory markdown. Despite these headwinds, the company's order book grew by 20% QoQ to INR 1,378 crores, and its treasury remains robust at INR 3,115 crores. Management reiterated its focus on core business and maintaining dividends, while a key capex project in Telangana faces a delay.
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What they filed
Q2 FY26: revenue down 10.3%, net profit down 43.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 1,292 | 1,408 | 1,418 | 1,145 | 1,159 −10% |
| EBITDA | 227 | 276 | 285 | 165 | 119 −48% |
| Net profit | 220 | 186 | 242 | 230 | 125 −43% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
