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Maharashtra Seamless share price & results

Maharashtra Seamless Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q3 FY26
Ownership as of
Sept 2026

India's leading seamless steel pipe maker (55% share); also makes ERW pipes, solar/wind power, offshore rig.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,091 ₹ crore−4.7% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin16.0 %+2.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit266 ₹ crore+15.7% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity11.17 %−2.2 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin16.35 %+5.2 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-12.22 %−8.8 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

1 of 2 judged targets kept · 3 open · verdicts reflect calls analysed to Q3 FY26.

Maharashtra Seamless Limited management guidance track record on Inve: 5 targets tracked across analysed earnings calls (1 achieved, 1 missed, 3 open).

TargetOriginal wordingSaidLatest callVerdict
Cold Drawn Line CapexEquipment received towards later part of this calendar year
Call transcript, Q4 FY25 · 3 Jun 2025		Q4 FY25Q3 FY26:Cold drawn pipes project has been completed
Call transcript, Q3 FY26 · 29 Jan 2026		Achieved
EBITDA per tonRs. 15,000 per ton for FY '25
Call transcript, Q3 FY25 · 28 Jan 2025		Q3 FY25Q3 FY26:Remain in the range of INR 10,000 to INR 15,000 per ton
Call transcript, Q3 FY26 · 29 Jan 2026		Revised Down
Order Book ValueAt least Rs. 1,500 crores by 30th September
Call transcript, Q1 FY26 · 31 Jul 2025		Q1 FY26Q2 FY26:Order book improved to INR 1,378 crores (missed 1500cr target)
Call transcript, Q2 FY26 · 5 Nov 2025		Missed

Source: Inve Guidance Tracker for Maharashtra Seamless Limited · to Q3 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of Maharashtra Seamless Limited's 5 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 2 more targets are in the full ledger.

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Price

₹557.9 +4.59% · +₹24.5

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −2.2% 1Y

₹500₹550₹600₹650₹700₹750Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 29 Jan 2026

1Y: ₹570.7 on 24 Oct 2025 → ₹557.9. High ₹737.65 (30 Sept 2026), low ₹506.45 (27 Jan 2026).

Previous close
₹533.4
Market cap
₹7.1k Cr
52-week range
₹506.45 – ₹737.65
One year
−3.56%
Price to earnings (TTM to Jun 2026)
9.68×
Return on equity (TTM to Jun 2026)
11.17%

Overview

Symbol
NSE:MAHSEAMLES
Industry
Industrials
Exchange
NSE
Currency
INR

What Maharashtra Seamless Limited does

Based on the company's own presentations, annual report and earnings calls.

Maharashtra Seamless Limited manufactures seamless and ERW (electric resistance welded) steel pipes and tubes used mainly in oil & gas drilling and production (OCTG casing, tubing, drill pipes), as well as in engineering, power, agriculture, chemical and housing applications, from plants at Nagothane and Mangaon (Maharashtra) and Narketpally (Telangana). It holds an estimated 55% share of India's seamless pipes market and 18% share of the API-certified, high-frequency ERW pipes segment. Beyond pipes, the company has diversified into renewable power generation (solar and wind) and owns an offshore jack-up drilling rig chartered out on a multi-year contract.

Segments

  • Seamless Pipes
  • ERW Pipes
  • Renewable Energy
  • Rig
Manufacturing plants
3 (Nagothane & Mangaon, Maharashtra; Narketpally, Telangana)
Seamless pipe installed capacity
650,000 MT/annum (450,000 MT Maharashtra + 200,000 MT Telangana)
ERW pipe installed capacity
125,000 MT/annum (Nagothane, Maharashtra)
Market share in seamless pipes (India)
~55%
Market share in API-certified, high-frequency ERW pipes (India)
~18%
Solar power capacity
50 MW AC (Maharashtra & Rajasthan)
Founded 1988Headquarters Village-Sukeli, Taluka Roha, Dist. Raigad, MaharashtraEmployees 1,829 (2025-03-31) Company website

How the price took the results

close before → close after

Q3 FY26
+0.5%
29 Jan
Q2 FY26
−4.4%
5 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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