MAHSEAMLES Maharashtra Seamless Q3 FY26 results (Oct–Dec 2025) and concall
Maharashtra Seamless reported a quarter with improved margins in both seamless and ERW pipes, driven by inventory markdown reversal and product mix, leading to higher overall EBITDA. The company's treasury operations yielded over 24% return for the nine months ending December 2025. While facing challenges like Chinese dumping and reliance on government oil & gas expenditure, the company successfully replenished its order book of INR 1,302 crores and is progressing on capacity enhancements, including a new finishing line in Telangana and plans for premium connections production.
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What they filed
Q3 FY26: revenue down 22.6%, net profit up 30.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 1,292 | 1,408 | 1,418 | 1,145 | 1,159 −10% | 1,090 −23% |
| EBITDA | 227 | 276 | 285 | 165 | 119 −48% | 149 −46% |
| Net profit | 220 | 186 | 242 | 230 | 125 −43% | 243 +31% |
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.
