MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) financials

MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Incorporated in 1988, Maharashtra Seamless Ltd manufactures seamless pipes & tubes, ERW pipes. It is also in the business of renewable power generation and rig operations[1]

Market Cap: ₹7,844Cr.
Current Price: ₹585
Stock P/E: 10.4
ROE: 10.3%
ROCE: 13.8%
Book Value: ₹512
Dividend Yield: 1.71%
52W High / Low: ₹768/500

In Jun 2026, MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) reported sales ₹1,091 Cr and net profit ₹271 Cr.

Annual TTM: sales ₹4,620 Cr, net profit ₹755 Cr.

Shareholding: Promoters 70.30% (Sep 2026), FIIs 9.93% (Sep 2026), DIIs 3.87% (Sep 2026), Public 15.90% (Sep 2026), No. of Shareholders 80,339% (Sep 2026).

MAHSEAMLES quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,291	1,408	1,416	1,143	1,158	1,090	1,280	1,091
Expenses	1,060	1,128	1,131	974	1,035	937	1,041	908
Operating Profit	231	280	285	169	123	153	239	184
OPM %	18%	20%	20%	15%	11%	14%	19%	17%
Other Income	91	2	40	160	76	200	-51	175
Interest	1	1	1	0	0	1	1	1
Depreciation	25	25	25	25	25	29	31	31
Profit before tax	296	256	299	303	174	324	156	327
Tax %	24%	26%	19%	23%	25%	24%	31%	17%
Net Profit	224	190	243	234	130	247	108	271
EPS in Rs	16.73	14.19	18.10	17.45	9.67	18.45	8.03	20.21
Raw PDF	—	—	—	—	—	—	—	—

MAHSEAMLES profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,617	2,225	3,975	5,707	5,403	5,266	4,671	4,620
Expenses	2,065	1,777	3,371	4,669	4,180	4,343	3,985	3,920
Operating Profit	551	448	603	1,038	1,223	923	686	699
OPM %	21%	20%	15%	18%	23%	18%	15%	15%
Other Income	-399	-102	90	82	141	196	383	400
Interest	48	48	41	36	8	3	3	3
Depreciation	79	105	121	136	109	100	110	115
Profit before tax	25	193	531	949	1,246	1,016	957	980
Tax %	181%	27%	-34%	16%	22%	22%	25%	—
Net Profit	-21	142	711	793	975	793	718	755
EPS in Rs	-1.54	10.57	53.09	59.18	72.76	59.17	53.60	56.36
Dividend Payout %	-81%	17%	5%	8%	14%	17%	19%	—

MAHSEAMLES balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	34	34	34	34	67	67	67	67
Reserves	3,153	3,083	3,210	3,919	4,639	5,547	6,206	6,791
Borrowings	489	802	718	633	244	0	0	13
Other Liabilities	656	999	1,176	686	834	846	686	843
Total Liabilities	4,332	4,918	5,137	5,271	5,784	6,460	6,959	7,714
Fixed Assets	1,162	1,923	1,844	2,129	2,011	1,945	1,859	1,860
CWIP	23	29	9	13	14	3	10	69
Investments	759	796	882	548	1,121	1,993	2,836	3,828
Other Assets	2,388	2,170	2,402	2,581	2,638	2,519	2,254	1,958
Total Assets	4,332	4,918	5,137	5,271	5,784	6,460	6,959	7,714

MAHSEAMLES cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	-183	749	501	-272	908	1,048	607	966
Cash from Investing Activity	-181	-1,027	-307	435	-466	-722	-486	-807
Cash from Financing Activity	415	221	-146	-147	-457	-320	-137	-123
Net Cash Flow	51	-57	47	16	-16	6	-15	36
Free Cash Flow	-206	-97	492	-278	889	1,015	586	797
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-1%	159%	117%	-48%	94%	103%	84%	165%

MAHSEAMLES shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	68.06%	68.85%	68.87%	69.05%	69.81%	70.28%	70.28%	70.30%
FIIs	9.12%	9.63%	10.42%	9.86%	9.51%	9.58%	9.72%	9.93%
DIIs	3.85%	3.97%	4.09%	3.64%	2.91%	3.29%	3.84%	3.87%
Public	18.96%	17.54%	16.64%	17.46%	17.77%	16.83%	16.17%	15.90%
No. of Shareholders	1,29,024	1,05,737	93,504	94,257	92,943	88,783	83,466	80,339

MAHSEAMLES key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	59	51	76	52	41	35	46	42
Inventory Days	149	163	233	193	147	175	147	140
Days Payable	53	130	197	64	29	32	17	31
Cash Conversion Cycle	156	84	112	180	159	177	176	151
Working Capital Days	227	174	131	164	130	136	133	114
ROCE %	20%	14%	11%	13%	21%	24%	17%	14%

MAHSEAMLESUpdated 19 Oct 2026, 5:47

Maharashtra Seamless Ltd

MAHSEAMLESUpdated 19 Oct 2026, 5:47

Market Cap

₹7,844Cr.

Current Price

₹585

High / Low

₹768/500

Stock P/E

10.4

ROE10.3%

ROCE13.8%

Book Value₹512

Face Value₹5.00

Dividend Yield1.71%

About

Incorporated in 1988, Maharashtra Seamless Ltd manufactures seamless pipes & tubes, ERW pipes. It is also in the business of renewable power generation and rig operations[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	1223	7	979	33	34	237	9	216	16.1
Sep 2023	1535	1	1202	29	25	336	24	256	19.07
Dec 2023	1430	1	1061	35	25	378	26	280	20.92
Mar 2024	1215	0	939	44	25	295	24	223	16.66
Jun 2024	1151	1	1025	65	25	165	18	136	10.15
Sep 2024	1291	1	1060	91	25	296	24	224	16.73
Dec 2024	1408	1	1128	2	25	256	26	190	14.19
Mar 2025	1416	1	1131	40	25	299	19	243	18.1
Jun 2025	1143	0	974	160	25	303	23	234	17.45
Sep 2025	1158	0	1035	76	25	174	25	130	9.67
Dec 2025	1090	1	937	200	29	324	24	247	18.45
Mar 2026	1280	1	1041	-51	31	156	31	108	8.03
Jun 2026	1091	1	908	175	31	327	17	271	20.21

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	1355	4	1246	83	29	160	23	123	9.15
Mar 2016	1015	7	979	95	70	54	42	31	2.35
Mar 2017	1428	10	1208	85	69	226	36	146	10.86
Mar 2018	2130	9	1824	67	74	290	32	198	14.81
Mar 2019	3040	16	2376	-77	78	493	47	262	19.58
Mar 2020	2617	48	2065	-399	79	25	181	-21	-1.54
Mar 2021	2225	48	1777	-102	105	193	27	142	10.57
Mar 2022	3975	41	3371	90	121	531	-34	711	53.09
Mar 2023	5707	36	4669	82	136	949	16	793	59.18
Mar 2024	5403	8	4180	141	109	1246	22	975	72.76
Mar 2025	5266	3	4343	196	100	1016	22	793	59.17
Mar 2026	4671	3	3985	383	110	957	25	718	53.6
TTM	4620	3	3920	400	115	980	—	755	56.36

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	70.3%
FIIs	9.93%
DIIs	3.87%
Public	15.9%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Government	Public
Dec 2023	67.86%	10.5%	4.19%	—	17.44%
Mar 2024	68%	11.96%	3.81%	—	16.22%
Jun 2024	68%	9.23%	5.26%	—	17.49%
Sep 2024	68.04%	7.97%	4.34%	—	19.65%
Dec 2024	68.06%	9.12%	3.85%	—	18.96%
Mar 2025	68.85%	9.63%	3.97%	—	17.54%
Jun 2025	68.87%	10.42%	4.09%	—	16.64%
Sep 2025	69.05%	9.86%	3.64%	—	17.46%
Dec 2025	69.81%	9.51%	2.91%	—	17.77%
Mar 2026	70.28%	9.58%	3.29%	—	16.83%
Jun 2026	70.28%	9.72%	3.84%	—	16.17%
Sep 2026	70.3%	9.93%	3.87%	—	15.9%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	34	2769	1	292	3096	1164	33	620	1278	3096
Mar 2016	34	2654	7	452	3147	1110	31	662	1343	3147
Mar 2017	34	2779	18	454	3285	1086	118	836	1245	3285
Mar 2018	34	2938	15	462	3449	1222	17	719	1490	3449
Mar 2019	34	3153	489	656	4332	1162	23	759	2388	4332
Mar 2020	34	3083	802	999	4918	1923	29	796	2170	4918
Mar 2021	34	3210	718	1176	5137	1844	9	882	2402	5137
Mar 2022	34	3919	633	686	5271	2129	13	548	2581	5271
Mar 2023	67	4639	244	834	5784	2011	14	1121	2638	5784
Mar 2024	67	5547	0	846	6460	1945	3	1993	2519	6460
Mar 2025	67	6206	0	686	6959	1859	10	2836	2254	6959
Mar 2026	67	6791	13	843	7714	1860	69	3828	1958	7714

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	-49	120	-84	-14
Mar 2016	19	19	-41	-3
Mar 2017	174	-151	-20	3
Mar 2018	87	-34	-49	4
Mar 2019	-183	-181	415	51
Mar 2020	749	-1027	221	-57
Mar 2021	501	-307	-146	47
Mar 2022	-272	435	-147	16
Mar 2023	908	-466	-457	-16
Mar 2024	1048	-722	-320	6
Mar 2025	607	-486	-137	-15
Mar 2026	966	-807	-123	36

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	80	95	79	68	59	51	76	52	41	35	46	42
Inventory Days	189	246	192	133	149	163	233	193	147	175	147	140
Days Payable	25	65	55	34	53	130	197	64	29	32	17	31
Cash Conversion Cycle	243	276	216	166	156	84	112	180	159	177	176	151
Working Capital Days	281	397	255	215	227	174	131	164	130	136	133	114
ROCE %	4%	2%	9%	10%	20%	14%	11%	13%	21%	24%	17%	14%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of MAHARASHTRA SEAMLESS LTD (MAHSEAMLES)?

The reported market capitalisation for MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) is ₹7,844Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of MAHSEAMLES?

The current price shown for MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) on Fincrux is ₹585 with a 52-week high/low of ₹768/500.

What is the P/E ratio of MAHARASHTRA SEAMLESS LTD (MAHSEAMLES)?

The stock P/E for MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) is 10.4 on Fincrux, with ROE at 10.3% and ROCE at 13.8%.

What were MAHSEAMLES latest quarterly results?

For Jun 2026, MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) reported sales ₹1,091 Cr and net profit ₹271 Cr (figures in ₹ crore unless noted).

What are MAHSEAMLES annual sales and net profit?

For TTM, MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) shows sales of ₹4,620 Cr and net profit of ₹755 Cr on the Fincrux profit & loss statement.

Who owns MAHARASHTRA SEAMLESS LTD (MAHSEAMLES)?

Latest shareholding for MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) on Fincrux: Promoters 70.30% (Sep 2026), FIIs 9.93% (Sep 2026), DIIs 3.87% (Sep 2026), Public 15.90% (Sep 2026), No. of Shareholders 80,339% (Sep 2026).

Where can I find MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) financials?

MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show MAHSEAMLES balance sheet and cash flow?

Yes. The MAHARASHTRA SEAMLESS LTD (MAHSEAMLES) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 19 October 2026 at 5:47