MAHSEAMLES
500265Reg. 34 (1) Annual Report.
Corrigendum to the Annual Report for the Financial Year 2025-26. In page no. 124 in Independent Auditors' Report on Consolidated Financial Statement wherein at part of the sentence reading 'except for...read more
Maharashtra Seamless Ltd (MSL), established in 1988 and headquartered in India, is a leading manufacturer of seamless and ERW (electric resistance welded) steel pipes and tubes. The company is part of the DP Jindal Group and caters to a diverse range of sectors including oil and gas, power, automotive, infrastructure, and engineering. Leveraging state-of-the-art manufacturing facilities at Raigad (Maharashtra) and Hyderabad (Telangana), MSL offers products meeting stringent international standards, ensuring its significant presence both in domestic and export markets.
Reg. 34 (1) Annual Report.
Corrigendum to the Annual Report for the Financial Year 2025-26. In page no. 124 in Independent Auditors' Report on Consolidated Financial Statement wherein at part of the sentence reading 'except for the effects of the matter described in the Basis for Qualified Opinion Paragraph' had been inadvertently mentioned in the report. Kindly read the same after deletion of above sentence.
Letter Sent To Shareholders For Annual Report Web-Link And Path
Attached
Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper advertisement published in newspaper regarding Notice of Annual General Meeting including e-voting information sent to shareholders
Business Responsibility and Sustainability Reporting (BRSR)
Business Responsibility and Sustainability Report (BRSR) of the Company for the financial year 2025-26
Reg. 34 (1) Annual Report.
Annual Report for the Financial Year 2025-26.
Notice Of 38Th Annual General Meeting
Notice of 38th Annual General Meeting and Annual Report for ten financial year 2025-26
Announcement under Regulation 30 (LODR)-Newspaper Publication
Intimation regarding publication of Pre AGM Notice and Record Date
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Attached
Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper publication of financial results for the quarter ended on 30th June, 2026
Audio Recording Of Conference Call Dated 8Th August, 2026
Attached
Announcement under Regulation 30 (LODR)-Investor Presentation
Earning Presentation Q1FY27
Announcement under Regulation 30 (LODR)-Change in Management
Appointment of Mr. Shiv Kumar Singhal as Whole-time Director and Dr. Raj Kamal Agarwal as Independent Director of the Company
Record Date For Dividend
Record date for dividend
Board Meeting Outcome for Outcome Of Board Meeting
Outcome of Board Meeting
Un-Audited Financial Results For The Quarter Ended 30Th June 2026
Un-audited financial results for the quarter ended 30th June 2026
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Schedule of Analyst/ Investor Meet
Announcement under Regulation 30 (LODR)-Demise
Intimation of sad demise of Mr. Ashok Bhandari, Independent Director of the Company
Maharashtra Seamless Ltd
About
Maharashtra Seamless Ltd (MSL), established in 1988 and headquartered in India, is a leading manufacturer of seamless and ERW (electric resistance welded) steel pipes and tubes. The company is part of the DP Jindal Group and caters to a diverse range of sectors including oil and gas, power, automotive, infrastructure, and engineering. Leveraging state-of-the-art manufacturing facilities at Raigad (Maharashtra) and Hyderabad (Telangana), MSL offers products meeting stringent international standards, ensuring its significant presence both in domestic and export markets.
MSL's integrated operations span the full pipe manufacturing value chain—from steel procurement to pipe production and finishing activities. The company’s robust R&D capabilities, quality assurance processes, and focus on operational efficiencies have cemented its reputation for reliability and technical expertise. MSL continues to drive innovation in product development, including value-added coated and premium connection pipes, to support demanding applications in energy and infrastructure verticals.
Business Model & Strategy
Maharashtra Seamless Ltd earns revenue primarily through the manufacture and sale of seamless and ERW pipes and tubes. Its primary customer segments include oil and gas exploration companies, power utilities, infrastructure developers, and large engineering firms. The company secures long-term supply contracts with public sector undertakings and private enterprises, ensuring steady order inflows.
Strategic growth initiatives include capacity expansion, backward integration (such as acquiring steel-making assets), and technology upgrades to maintain high manufacturing standards. MSL diversifies its product offerings to serve new geographies and end-use industries, emphasizing export market development. Ongoing investments in sustainable manufacturing and quality certifications further strengthen customer trust and market reach.
Management Overview
10 MembersMr.Dharam Pal Jindal
Non-Executive - Non Independent Director-Chairperson related to PromoterMr.Saket Jindal
Executive Director-MDMr.Raghav Jindal
Executive Director-MDMr.Ashok Bhandari
Non-Executive - Independent DirectorMr.Kamal Kishore Bhartia
Non-Executive - Independent DirectorMr.Mohan Gupta
Non-Executive - Independent DirectorMrs.Roma Kumar
Non-Executive - Independent DirectorMr.Pithelis Raj Santhana Marian
Executive DirectorMr.Arup Mandal
Chief Financial OfficerMr.Ram Ji Nigam
Company Secretary & Compliance OfficerAwards & Recognition
5 Awards- Recognized among the top seamless pipe manufacturers in India on multiple industry lists (2024, 2025)
- ISO 9001, ISO 14001, and OHSAS 18001 certified for quality, environment, and safety management
- Awarded for excellence in exports by Engineering Export Promotion Council (EEPC India)
- Included in corporate ESG assessments by reputed third-party agencies (2024)
- Regular supplier to major national oil companies and public sector undertakings
Market Information
Company Timeline
37+ Years of Excellence | 8 Major Milestones
Incorporation of Maharashtra Seamless Ltd
Commissioned first seamless pipe plant at Raigad, Maharashtra
Initial Public Offering (IPO) and stock exchange listing
Expansion with new ERW pipe plant
Acquisition of United Seamless Tubulaar Pvt. Ltd.
Capacity expansion and technology upgrades at Raigad facility
Introduction of new value-added coated pipe and premium connections line
Enhanced ESG disclosures and green manufacturing initiatives launched
The Next Evolution
Contact Information
Registered Office
Pipe Nagar, Village Sukeli, N.H.-17,, B.K.G Road, Talika Roha,
Tel: 02194-238511 / 238512 / 238567 / 238569,
Fax: 02194-238513,
Email: secretarial@mahaseam.com
Website: jindal.com
Registrars
Alankit Assignments Ltd
Tel: 011 - 42541234,23541234
Corporate Actions
13| Purpose | Ex Date | Record Date | BC Start | BC End |
|---|---|---|---|---|
Dividend ₹10 per share | 01 Sep 2026 Tuesday | 01 Sep 2026 Tuesday | - | - |
Dividend ₹10 per share | 14 Aug 2025 Thursday | 14 Aug 2025 Thursday | - | - |
Dividend ₹10 per share | 14 Aug 2024 Wednesday | 14 Aug 2024 Wednesday | - | - |
Dividend ₹5 per share | 14 Aug 2023 Monday | 14 Aug 2023 Monday | - | - |
Bonus issue 1:1 | 25 Nov 2022 Friday | 28 Nov 2022 Monday | - | - |
Dividend ₹5 per share | 07 Sep 2022 Wednesday | 08 Sep 2022 Thursday | - | - |
Final Dividend ₹3.50 per share | 14 Sep 2021 Tuesday | 15 Sep 2021 Wednesday | - | - |
Final Dividend ₹2.50 per share | 14 Sep 2020 Monday | 15 Sep 2020 Tuesday | - | - |
Dividend ₹6 per share | 09 Sep 2019 Monday | 11 Sep 2019 Wednesday | - | - |
Dividend ₹6 per share | 17 Sep 2018 Monday | - | 19 Sep 2018 Wednesday | 20 Sep 2018 Thursday |
Dividend ₹5 per share | 12 Sep 2017 Tuesday | - | 14 Sep 2017 Thursday | 19 Sep 2017 Tuesday |
Dividend ₹2.50 per share | 12 Sep 2016 Monday | - | 15 Sep 2016 Thursday | 20 Sep 2016 Tuesday |
Dividend ₹5 per share | 14 Aug 2015 Friday | - | 18 Aug 2015 Tuesday | 20 Aug 2015 Thursday |
₹8,697 Cr.
₹651
₹690 / 501
11.81
₹513.17
1.27
₹55.02
₹5.00
1.54 %
Manage Ratio
FINANCIALS
| Annual Results | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | - | - | - | 3,142 | 2,695 | 2,396 | 4,311 | 5,805 | 5,546 | 5,466 | 5,062 | 5,022 |
| Expenses | - | - | - | 2,523 | 2,256 | 2,020 | 3,777 | 4,852 | 4,323 | 4,452 | 4,106 | 4,043 |
| Profit | - | - | - | 202 | 115 | 121 | 404 | 768 | 952 | 777 | 701 | 737 |
| Tax | - | - | - | 231 | 46 | 51 | 101 | 156 | 271 | 223 | 238 | 225 |
| EPS | - | - | - | 35 | 13 | 15 | 57 | 57 | 71 | 58 | 52 | 19.88 |
| Ratios | - |
Cash Flow
Consolidated Figures in Rs. Crores
| Annual Balance Sheet | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | - | - | - | 4,795 | 5,239 | 5,356 | 5,388 | 5,859 | 6,589 | 7,033 | 7,739 | - |
| Equity And Liabilities | - | - | - | 4,795 | 5,239 | 5,356 | 5,388 | 5,859 | 6,589 | 7,033 | 7,739 | - |
Shareholding Pattern
Numbers in Percentages
| Quarterly SHP Announcement Date | Mar 2016 12 Apr '16 | Mar 2017 31 Mar '17 | Mar 2018 31 Mar '18 | Mar 2019 17 Apr '19 | Mar 2020 12 May '20 | Mar 2021 14 Apr '21 | Mar 2022 12 Apr '22 | Mar 2023 14 Apr '23 | Mar 2024 08 Apr '24 | Mar 2025 04 Apr '25 | Mar 2026 07 Apr '26 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Goverments | - | - | - | 0.59% | - | - | - | - | - | - | - | - |
| Promoter And Promoter Group | - | - | - | 61.89% | 62.93% | 63.78% | 67.00% | 67.80% | 68.00% | 68.86% | 70.28% | - |
| Non Institutions | - | - | - | 27.31% | 26.91% | 29.26% | 28.44% | 25.30% | 16.09% | 17.55% | 16.84% | - |
| FII | - | - | - | - | - | - | - | 2.84% | 11.97% | 9.63% | 9.59% | - |
| DII | - | - | - | - | - | - | - | 4.05% | 3.95% | 3.96% | 3.29% | - |
| Total | - | - | - | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | - |
Maharashtra Seamless Ltd
Maharashtra Seamless Ltd
Maharashtra Seamless Ltd (MSL), established in 1988 and headquartered in India, is a leading manufacturer of seamless and ERW (electric resistance welded) steel pipes and tubes. The company is part of the DP Jindal Group and caters to a diverse range of sectors including oil and gas, power, automotive, infrastructure, and engineering. Leveraging state-of-the-art manufacturing facilities at Raigad (Maharashtra) and Hyderabad (Telangana), MSL offers products meeting stringent international standards, ensuring its significant presence both in domestic and export markets.
MSL's integrated operations span the full pipe manufacturing value chain—from steel procurement to pipe production and finishing activities. The company’s robust R&D capabilities, quality assurance processes, and focus on operational efficiencies have cemented its reputation for reliability and technical expertise. MSL continues to drive innovation in product development, including value-added coated and premium connection pipes, to support demanding applications in energy and infrastructure verticals.
Maharashtra Seamless Ltd earns revenue primarily through the manufacture and sale of seamless and ERW pipes and tubes. Its primary customer segments include oil and gas exploration companies, power utilities, infrastructure developers, and large engineering firms. The company secures long-term supply contracts with public sector undertakings and private enterprises, ensuring steady order inflows.
Strategic growth initiatives include capacity expansion, backward integration (such as acquiring steel-making assets), and technology upgrades to maintain high manufacturing standards. MSL diversifies its product offerings to serve new geographies and end-use industries, emphasizing export market development. Ongoing investments in sustainable manufacturing and quality certifications further strengthen customer trust and market reach.
Recognized among the top seamless pipe manufacturers in India on multiple industry lists (2024, 2025)
ISO 9001, ISO 14001, and OHSAS 18001 certified for quality, environment, and safety management
Awarded for excellence in exports by Engineering Export Promotion Council (EEPC India)
Included in corporate ESG assessments by reputed third-party agencies (2024)
Regular supplier to major national oil companies and public sector undertakings
Incorporation of Maharashtra Seamless Ltd
Commissioned first seamless pipe plant at Raigad, Maharashtra
Initial Public Offering (IPO) and stock exchange listing
Expansion with new ERW pipe plant
Acquisition of United Seamless Tubulaar Pvt. Ltd.
Capacity expansion and technology upgrades at Raigad facility
Introduction of new value-added coated pipe and premium connections line
Enhanced ESG disclosures and green manufacturing initiatives launched
Peer Comparison
| S.No. | Company Name | CMP (₹) | Market Cap (₹ Cr) | Div Yld (%) | NP Qtr (₹ Cr) | Qtr Profit Var (%) | Sales Qtr (₹ Cr) | Qtr Sales Var (%) | ROCE (%) | ROE (%) | Book Value (₹) | EPS TTM (₹) | TTMPE Ratio (₹) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Not Found Data | |||||||||||||
Coming Soon
Heatmap View
Premium Feature| Company | CMP (₹) | MCap (₹ Cr) | EPS TTM (₹) | ||||||||||
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Financial Ratios
Premium Feature| Company Name | P/E (TTM) | EPS (₹) | D/E | NPM | GPM | ROE (%) | ROCE (%) | P/B | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Coming Soon