| Margins | EBITDA/ton at INR 15,600; expected to maintain/improve with product mix. |
|---|---|
| Order book | INR 1,709 Cr; 64% comprises higher-margin orders. |
| Demand visibility | Strong; 42% of order book from oil sector, 20% exports. |
| Management confidence | High optimism due to 31% order book growth and export revival. |
Growth
Revenue grew 3% sequentially. EBITDA declined 23% to INR 184 Cr due to lower production from gas supply disruptions.
Outlook
Order book reached record INR 1,709 Cr (up 31%). Yearly dispatch guidance of 410,000-430,000 tons. Telangana finishing line priority capex.
Risks
Gas supply disruptions in Telangana plant (resolved); expiring anti-dumping duties in Jan 2027; potential raw material price volatility.
Last quarter's promises, checked
Delivered
- EBITDA/ton guidance INR 10,000-15,000 → delivered INR 15,600 (= BEAT)
- Start premium connection production in ~6 months → Delivered in Q1 FY27 (= BEAT)
- Maintain/improve margins despite dumping → EBITDA/ton improved vs Q3 FY26 (= BEAT)
Partly delivered
- Telangana finishing line start in current quarter → Ordered INR 107 Cr equipment; priority capex (= PARTIAL)
Missed
- Maintain tonnage dispatches → Dispatched 101k tons vs 103k tons previous (= MISS)
Earnings Call Transcript filed with NSE, NSE: MAHSEAMLES. Summary written with AI assistance from the document.
Maharashtra Seamless Ltd: key numbers
- Share price
- ₹692.75
- Market cap
- ₹9,283 Cr
- Revenue (annual)
- ₹4,674 Cr
- Net profit (annual)
- ₹701.3 Cr
- P/E (TTM)
- 12.6×Sector 18.2×
- Promoter holding
- 70.28%+0.00% QoQ
- FII holding
- 9.72%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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