



Metals & Mining | Small Cap
Maharashtra Seamless Ltd demonstrates a strong financial standing, particularly excelling in solvency, growth, coverage, and profitability. The company efficiently manages its debt and showcases impressive growth in revenue, operating profit, and earnings per share. Its ability to cover interest and dividends is also remarkable. Profitability metrics, including gross profit margin and returns on capital, equity, and assets, are robust. However, there are areas needing attention. Liquidity, while generally adequate, could be improved, especially concerning cash management. Efficiency in fixed asset and capital turnover needs enhancement to optimize asset utilization. Despite these challenges, Maharashtra Seamless Ltd's strong financial foundation and growth trajectory position it well for future success in the General Industrials sector.
Maharashtra Seamless Ltd demonstrates a strong financial standing, particularly excelling in solvency, growth, coverage, and profitability. The company efficiently manages its debt and showcases impressive growth in revenue, operating profit, and earnings per share. Its ability to cover interest and dividends is also remarkable. Profitability metrics, including gross profit margin and returns on capital, equity, and assets, are robust. However, there are areas needing attention. Liquidity, while generally adequate, could be improved, especially concerning cash management. Efficiency in fixed asset and capital turnover needs enhancement to optimize asset utilization. Despite these challenges, Maharashtra Seamless Ltd's strong financial foundation and growth trajectory position it well for future success in the General Industrials sector.
Overall Valuation Score
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Price Movement Indicator
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P/E RATIO (TTM)
12.12
Industry Median
16.82
Small Cap Median
16.10
P/E RATIO
12.41
P/B RATIO
1.27
Industry Median
1.87
Small Cap Median
1.71
P/S RATIO
1.84
Industry Median
1.29
Small Cap Median
1.28
Others
PEG RATIO
0.00
EV/EBITDA RATIO
8.11
The Calculations Shown Above Are Based on the Last Traded Price (LTP) of ₹649.6 as on Sep 1, 2026.
The company exhibits strong growth across various metrics. Impressive revenue growth indicates increasing market demand and effective sales strategies. Operating profit growth reflects enhanced operational efficiency and profitability. Earnings per share growth signals increasing shareholder value. Asset growth suggests strategic investments and expansion. Net income growth underscores overall financial performance and profitability.
| Growth Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue Growth Rate | 82.45 | 35.74 | -5.46 | -2.5 | -11.29 |
| Operating Profit Growth Rate | 32.2 | 73.41 | 18.6 | -24.27 | -26.43 |
| Earnings Per Share (EPS) Growth | 605.19 | 10.56 | 24.41 | -18.27 | -9.81 |
| Asset Growth Rate | 0.6 | 8.74 | 12.36 | 6.84 | 10.04 |
| Net Income Growth Rate | 471.9 | 10.98 | 23.96 | -18.38 | -9.78 |
Revenue Growth Rate
Operating Profit Growth Rate
Earnings Per Share (EPS) Growth
Asset Growth Rate
Net Income Growth Rate
Peer Comparison empowers investors to evaluate a company against its industry peers using key financial metrics like P/E ratio, EPS, and profit margins. It helps identify whether a company is overvalued, undervalued, or performing in line with competitors. Investors can use this data to spot opportunities, assess risks, and make informed decisions. This contextual view adds depth beyond standalone company analysis.
| NO | Company Name | Health Score | P/E Ratio | Valuation | OPM | EPS | Latest Profit & Loss |
|---|---|---|---|---|---|---|---|
| 1 | Indian Metals & Ferro Alloys Ltd | 8.49 | 16.55 | Overvalued | 587.00 | 78.65 | 425.00 |
| 2 | Maharashtra Seamless Ltd | 8.17 | 12.41 | Neutral | 668.00 | 53.59 | 701.00 |
| 3 | Kalyani Steels Ltd | 8.10 | 15.24 | Neutral | 361.00 | 58.45 | 258.00 |
| 4 | Jai Balaji Industries Ltd | 7.74 | 11.51 | Neutral | 522.00 | 1.59 | 293.00 |
| 5 | Sunflag Iron & Steel Company Ltd | 7.40 | 30.24 | Overvalued | 477.00 | 11.13 | 202.00 |
| 6 | Man Industries (India) Ltd | 7.19 | 33.56 | Highly Overvalued | 439.00 | 26.11 | 170.00 |
| 7 | Pennar Industries Ltd | 6.69 | 16.10 | Neutral | 355.00 | 7.51 | 139.00 |
| 8 | Electrosteel Castings Ltd | 6.50 | 32.12 | Neutral | 359.00 | 2.12 | 161.00 |
| 9 | NMDC Steel Ltd | 5.02 | 228.05 | Neutral | 1518.00 | 0.20 | 59.00 |
| 10 | Jayaswal Neco Industries Ltd | 4.63 | -65.90 | Neutral | 230.00 | 4.77 | -94.00 |
| 11 | KIRLFER | N/A | N/A | N/A | N/A | N/A | N/A |
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Overall Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Market Sentiment
Analysis Driven By 26 Technical Indicators From The 1 Hour Timeframe
Trend Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bearish
Momentum Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Neutral
Volatility Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Bullish
Volume Score
Strong Bearish
Bearish
Neutral
Bullish
Strong Bullish
Strong Bullish
Analyzing moving average trends and crossovers. Green/Red badges indicate if the current condition passes or fails.
Comparing stock price performance (normalized) against benchmark indices over time.
Recent daily trading volume represented as a bar chart, alongside historical averages.
Current closing price relative to the 52-week highest and lowest prices.
Concall Report⬤2nd Feb 26
Q3 FY26 Earnings Conference Call
NEUTRAL SENTIMENT
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Maharashtra Seamless Ltd. is a leading Indian manufacturer of seamless and ERW pipes and tubes, catering to critical sectors like oil & gas, infrastructure, and general engineering. It holds a significant market share in specialized piping solutions, known for quality and diverse product offerings.
P/E Ratio (TTM): Price to Earnings ratio shows how much an investor pays for every rupee of the company's earnings. Maharashtra Seamless Ltd's P/E ratio (TTM) is 12.12, compared to the industry median of 16.82 and large cap median of 16.10.
P/B Ratio: Price to Book ratio compares a company's market price to its book value per share. Maharashtra Seamless Ltd's P/B ratio is 1.27, compared to the industry median of 1.87 and large cap median of 1.71.
P/S Ratio: Price to Sales ratio compares a company's market value to its total revenue. Maharashtra Seamless Ltd's P/S ratio is 1.84, compared to the industry median of 1.29 and large cap median of 1.28.
PEG Ratio: PEG ratio adjusts the P/E ratio for expected earnings growth. Maharashtra Seamless Ltd's PEG ratio is 0.80.
EV/EBITDA Ratio: This ratio compares a company's enterprise value to its earnings before interest, tax, depreciation, and amortization. Maharashtra Seamless Ltd's EV/EBITDA ratio is 8.11.
Return on Equity (ROE): ROE measures how much profit a company generates from shareholders' invested capital. Maharashtra Seamless Ltd's ROE is 10.19%.
Return on Assets (ROA): ROA measures how efficiently a company converts its assets into net profit. Maharashtra Seamless Ltd's ROA is 8.63%.
Return on Capital Employed (ROCE): ROCE measures how efficiently a company generates profit from all the capital it employs. Maharashtra Seamless Ltd's ROCE is 14%.
Operating Margin: Operating margin shows what percentage of revenue remains after covering operating expenses. Maharashtra Seamless Ltd's operating margin is 14.29%.
Net Margin: Net margin shows what percentage of revenue converts into final net profit. Maharashtra Seamless Ltd's net margin is 15%.
Current Ratio: The current ratio measures a company's ability to pay short-term liabilities using short-term assets. Maharashtra Seamless Ltd's current ratio is 2.32.
Debt to Equity Ratio: This ratio shows the proportion of debt a company uses relative to shareholders' equity. Maharashtra Seamless Ltd's debt-to-equity ratio is 0.
Interest Coverage Ratio: This ratio shows how easily a company can pay interest on its outstanding debt from its operating earnings. Maharashtra Seamless Ltd's interest coverage ratio is 314.
Dividend Per Share (DPS): DPS shows the total dividend paid per share in the latest financial year. Maharashtra Seamless Ltd's DPS is ₹9.94.
Earnings Per Share (EPS): EPS shows how much profit is allocated to each outstanding share. Maharashtra Seamless Ltd's EPS is -9.81.
(Source line: "Ratios as of 09 Oct 2026, based on last traded price of ₹649.60. Data sourced from BSE/NSE Exchange Filings & Public Terminal Data.")
Founded: 1988
Headquarters: New Delhi, Delhi
Core Offerings: Seamless Pipes, ERW Pipes, Pipe Coatings, UOE Pipes, API Line Pipes
Stock Listing: NSE (MAHSEAMLES), BSE (500265)
Promoter: D. P. Jindal Group
1988: Incorporated to manufacture seamless pipes. 1992: Commenced commercial production of seamless pipes at Nagothane, Maharashtra. Expanded operations over the years to include ERW (Electric Resistance Welded) pipes and comprehensive pipe coating facilities. 2022: Acquired a controlling stake in Indian Seamless Metal Tubes Limited (ISMT Ltd.), significantly bolstering its market position and manufacturing capabilities in the seamless tube segment. Present: Continues as a key player in the Indian and international pipes and tubes market, serving diverse industries.
| Segment Name | Revenue % | EBITDA |
|---|---|---|
| Steel Products (Pipes & Tubes) | 100% | Operating Profit |
Seamless Pipes: Manufactures hot finished and cold drawn seamless pipes and tubes, ranging from 12 mm to 450 mm OD, primarily for oil & gas exploration, power, and general engineering sectors. Products conform to API, ASTM, ASME, and other international standards.
ERW Pipes: Produces Electric Resistance Welded (ERW) pipes from 1/2" to 20" OD, serving applications in oil & gas, water transmission, and various industrial sectors.
Pipe Coatings: Offers comprehensive external and internal pipe coating solutions, including 3LPE, FBE, and concrete weight coating, to enhance pipe longevity and performance in corrosive environments.
UOE Pipes: Engaged in the manufacturing of large diameter UOE pipes, crucial for high-pressure oil and gas pipelines, demonstrating advanced fabrication capabilities.
Mr. A. K. Jindal (Chairman) - A veteran industrialist with extensive experience in the steel and pipe manufacturing sector, guiding the company's strategic vision. Mr. Saket Jindal (Managing Director) - Holds a B.S. in Management and has been instrumental in driving the company's growth, operational efficiency, and strategic initiatives.
Indian Seamless Metal Tubes Limited (ISMT Ltd.)
Bonus Issue: 1:1 bonus share issued in 2008. Acquisition: Acquired a controlling stake in Indian Seamless Metal Tubes Limited (ISMT Ltd.) in 2022, a significant strategic move to consolidate market position.
The Maharashtra Seamless Ltd share price today is ₹649.60 on NSE (MAHSEAMLES), as of 11 Oct 2026.
As of 09 Oct 2026, Maharashtra Seamless Ltd share price is ₹649.60, with previous close ₹649.60. Today's range is ₹649.60 to ₹649.60. The 52-week range is ₹500.70 to ₹768.
As of today, Maharashtra Seamless Ltd's market cap is ₹8,607.2 crore (Mid Cap).
Maharashtra Seamless Ltd's current P/E ratio is 12.12, compared to the METALS & MINING sector average of 50.
Maharashtra Seamless Ltd's current P/B ratio is 1.27.
Maharashtra Seamless Ltd's current dividend yield is 1.53%. Last dividend of ₹6.00 per share was declared on 27-May-2024.
Maharashtra Seamless Ltd's EPS (TTM) is ₹-9.81.
Maharashtra Seamless Ltd. is a leading Indian manufacturer of seamless and ERW pipes and tubes, catering to critical sectors like oil & gas, infrastructure, and general engineering. It holds a significant market share in specialized piping solutions, known for quality and diverse product offerings.
Maharashtra Seamless Ltd is promoted by D. P. Jindal Group, holding 70.28% as of 09 Oct 2026.
Maharashtra Seamless Ltd is listed on NSE (MAHSEAMLES) and BSE (500265). Its next quarterly results are expected on Q1 FY25.