Maharashtra Seamless manufactures iron and steel products at scale (₹8,206.83 Cr market cap, quarterly revenue ₹1,090–1,280 Cr) with zero debt and PE 11.13. Despite financial stability, stock declined 7.93% over 1y amid wide profitability swings (OPM 10.59%–18.66%, EPS ₹7.67–₹20.21).
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Generated analysis · source review pending
2,528 historical price candles were omitted because the exchange source has not been verified.
No red flags triggered.
Structured signal from quality, growth, valuation and momentum.
₹ crore, by fiscal year
% of revenue, by fiscal year
Comparable companies from the narrowest available industry classification.
Reported profit and loss, balance sheet, cash flow and growth history.
Annual operating, return, leverage and working-capital ratios.
Current futures and options contracts with compact option-chain pages.
Mutual-fund schemes that disclosed a holding in the company.
Annual reports, exchange filings, offer documents, ratings and earnings-call material.
Upcoming dates and the company’s corporate-action history.
Latest exchange announcements, filings and downloadable documents.
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.8% | 38.7% | 39.6% | 31.8% | 34.8% | 39.2% | 37% | 36.3% |
| EBITDA margin % | 21.8% | 20.4% | 20.2% | 14.6% | 18.2% | 22.2% | 17.5% | 14.6% |
| EBIT margin % | 19.2% | 17.1% | 14.9% | 11.3% | 15.8% | 20.2% | 15.6% | 12.2% |
| PAT margin % | 6.6% | 4.3% | 5.3% | 9.6% | 13.4% | 17.6% | 14.8% | 15% |
| Working capital | ||||||||
| Receivable days | — | — | 75 | 48 | 41 | 35 | 45 | 44 |
| Inventory days | — | — | 255 | 183 | 148 | 175 | 148 | 140 |
| Payable days | — | — | 194 | 61 | 30 | 32 | 17 | 31 |
| NWC days | — | — | 135 | 170 | 159 | 178 | 176 | 153 |
| Leverage | ||||||||
| Current ratio | — | — | 2.05 | 3.38 | 5.85 | 8.39 | 16.34 | 14.17 |
| Debt to EBITDA | — | — | 1.98 | 1.16 | 0.23 | 0 | 0 | 0.02 |
| Debt to equity | — | — | 0.28 | 0.18 | 0.05 | 0 | 0 | 0 |
| Interest coverage | 16.9 | 7.9 | 7.7 | 11.5 | 25.9 | 145.4 | 368.3 | 371.6 |
| Asset turnover | — | — | 0.43 | 0.78 | 0.98 | 0.82 | 0.75 | 0.6 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.3% | 7.5% | 13.1% | 14.4% | 11.1% | 9.1% |
| Return on capital employed % | — | — | 10% | 13.1% | 20% | 21.5% | 15.7% | 13.6% |
| Return on equity % | — | — | 3.7% | 10.1% | 16.1% | 16.6% | 12.3% | 10.2% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.
| Holder (%) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 67.86% | 67.86% | 68% | 68% | 68.04% | 68.07% | 68.86% | 68.87% | 69.05% | 69.81% | 70.28% | 70.28% | |
| 7.99% | 10.5% | 11.97% | 9.23% | 7.97% | 9.12% | 9.63% | 10.42% | 9.86% | 9.52% | 9.59% | 9.72% | |
| 4.38% | 4.31% | 3.95% | 5.38% | 4.38% | 3.86% | 3.96% | 4.08% | 3.63% | 2.91% | 3.29% | 3.84% | |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 19.77% | 17.33% | 16.08% | 17.39% | 19.61% | 18.95% | 17.55% | 16.63% | 17.46% | 17.76% | 16.84% | 16.16% | |
| No. of shareholders | — | — | — | — | — | — | — | — | 94,257 | 92,943 | 88,783 | 83,466 |
Promoter holding up 2.42 percentage points since Sep 2023.
| Person | Deal | Shares | Value | Holding | Filed |
|---|---|---|---|---|---|
| Odd & Even Trades & Finance LimitedPromoter Group | BuyMarket Purchase | 48,500 | ₹0 | 0.00% → 8.82% | 19 Aug 20257(2) |
Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.
| Date | Client | Type | Venue | Side | Quantity | Price | Value |
|---|---|---|---|---|---|---|---|
| 29 Jun 2026 | SAKET JINDAL | Bulk | NSE | Sell | 12,70,000 | ₹619.38 | ₹78.66 Cr |
| 29 Jun 2026 | ODD & EVEN TRADES & FINANCE LIMITED | Bulk | NSE | Buy | 12,60,974 | ₹619.43 | ₹78.11 Cr |
| 5 Dec 2024 | GRAVITON RESEARCH CAPITAL LLP | Bulk | NSE | Sell | 14,79,573 | ₹735.21 | ₹108.78 Cr |
| 5 Dec 2024 | GRAVITON RESEARCH CAPITAL LLP | Bulk | NSE | Buy | 14,79,573 | ₹734.72 | ₹108.71 Cr |
| 19 Apr 2023 | JHANJHARI HOLDINGS PVT LTD | Bulk | NSE | Sell | 13,00,000 | ₹385.20 | ₹50.08 Cr |
Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.
Current officeholders as filed with BSE. A person holding two offices is listed once per office.
Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.
Documents link to external sources (exchange filings, company investor pages).
| Company | Mkt Cap | EV | Revenue | EBITDA | OPM | PAT | NPM | ROCE | ROE | WC Days |
|---|---|---|---|---|---|---|---|---|---|---|
| Welspun Corp LimitedWELCORPWELCORP | ₹68,741 Cr | ₹70,904 Cr | ₹17,300 Cr | ₹2,403 Cr | 13.3% | ₹2,309 Cr | 9.7% | 19.2% | 19.4% | 85 |
| Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO | ₹58,753 Cr | ₹59,205 Cr | ₹22,897 Cr | ₹1,841 Cr | 7.8% | ₹1,229 Cr | 5.2% | 30.8% | 25.3% | -12 |
| Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL | ₹29,244 Cr | ₹30,225 Cr | ₹19,574 Cr | ₹2,519 Cr | 12.6% | ₹860 Cr | 5.7% | 13.5% | 9.7% | 8 |
| Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI | ₹18,362 Cr | ₹18,666 Cr | ₹4,314 Cr | ₹732 Cr | 16.9% | ₹433 Cr | 11.9% | 17.8% | 12.5% | 210 |
| Jindal Saw LimitedJINDALSAWJINDALSAW | ₹17,286 Cr | ₹21,976 Cr | ₹18,263 Cr | ₹1,941 Cr | 12.4% | ₹653 Cr | 5.2% | 11.4% | 8.1% | 159 |
| Usha Martin LimitedUSHAMARTUSHAMART | ₹14,982 Cr | ₹15,128 Cr | ₹3,837 Cr | ₹768 Cr | 19.1% | ₹507 Cr | 12.6% | 20% | 15.4% | 190 |
| Godawari Power And Ispat LimitedGPILGPIL | ₹14,517 Cr | ₹14,943 Cr | ₹5,808 Cr | ₹1,263 Cr | 23.3% | ₹808 Cr | 14.9% | 20.1% | 14.9% | 73 |
| Gallantt Ispat LimitedGALLANTTGALLANTT | ₹12,793 Cr | ₹13,340 Cr | ₹4,437 Cr | ₹655 Cr | 16.2% | ₹436 Cr | 11% | 19.2% | 15.7% | 58 |
| Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES | ₹9,363 Cr | ₹9,377 Cr | ₹4,620 Cr | ₹696 Cr | 14.6% | ₹737 Cr | 15% | 13.6% | 10.6% | 153 |
| Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND | ₹8,863 Cr | ₹10,960 Cr | ₹7,589 Cr | ₹1,409 Cr | 18.6% | ₹564 Cr | 6.5% | 22.9% | 17.8% | 151 |
| Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG | ₹7,812 Cr | ₹8,286 Cr | ₹3,995 Cr | ₹476 Cr | 12.1% | ₹206 Cr | 5.1% | 3.8% | 2.3% | 95 |
| Man Industries (India) LimitedMANINDSMANINDS | ₹6,912 Cr | ₹7,411 Cr | ₹3,875 Cr | ₹532 Cr | 12.3% | ₹204 Cr | 4.8% | 18.4% | 9.2% | 114 |
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
Shareholder Meeting / Postal Ballot-Outcome of AGM
Reg. 34 (1) Annual Report.
Maharashtra Seamless Ltd - 500265 - Letter Sent To Shareholders For Annual Report Web-Link And Path
Announcement under Regulation 30 (LODR)-Newspaper Publication
Business Responsibility and Sustainability Reporting (BRSR)
Reg. 34 (1) Annual Report.
Notice Of 38Th Annual General Meeting
| Date | Category | Subject | Filing |
|---|---|---|---|
| 15 Sept 2026, 8:22 pm | AGM/EGM AGM | Shareholder Meeting / Postal Ballot-Scrutinizer''s Report | |
| 15 Sept 2026, 4:08 pm | AGM/EGM AGM | Shareholder Meeting / Postal Ballot-Outcome of AGM |
| 1 Sept 2026, 12:20 pm | Others Reg. 34 (1) Annual Report | Reg. 34 (1) Annual Report. |
| 25 Aug 2026, 7:24 pm | Company Update General | Maharashtra Seamless Ltd - 500265 - Letter Sent To Shareholders For Annual Report Web-Link And Path |
| 25 Aug 2026, 7:12 pm | Company Update Newspaper Publication | Announcement under Regulation 30 (LODR)-Newspaper Publication |
| 24 Aug 2026, 2:31 pm | Others Business Responsibility and Sustainability Reporting (BRSR) | Business Responsibility and Sustainability Reporting (BRSR) |
| 24 Aug 2026, 2:22 pm | Others Reg. 34 (1) Annual Report | Reg. 34 (1) Annual Report. |
| 24 Aug 2026, 2:17 pm | AGM/EGM AGM | Notice Of 38Th Annual General Meeting |
7 schemes · 3 fund houses
| Shares | ||||||
|---|---|---|---|---|---|---|
| Small Cap FundNEW | ICICI Prudential Mutual Fund | 4.24 L | 28.1 | 0.29% | 0.316% | — |
| Energy Opportunities Fund | ICICI Prudential Mutual Fund | 1.29 L | 8.58 | 0.1% | 0.097% | -0 |
| (Investment Manager for Motilal Oswal Mutual Fund) | Motilal Oswal Mutual Fund | 1.01 L | 6.7 | 0.27% | 0.075% | -2,212 |
| ESG Exclusionary Strategy Fund | ICICI Prudential Mutual Fund | 95,176 | 6.31 | 0.47% | 0.071% | +32,068 |
| BSE 500 ETF | ICICI Prudential Mutual Fund | 720 | 0.05 | 0.01% | 0.001% | +6 |
| IB18-Groww Nifty Total Market Index Fund | Groww Mutual Fund | 691 | 0.05 | 0.01% | 0.001% | +3 |
| (Investment Manager for Motilal Oswal Mutual Fund) | Motilal Oswal Mutual Fund | 115 | 0.01 | 0.01% | 0% | -0 |
Consolidated figures · ₹ crore
| ₹ Cr | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| 3,073 | 2,645 | 2,308 | 4,200 | 5,716 | 5,404 | 5,269 | 4,674 | |
| COGS | 1,882 | 1,620 | 1,393 | 2,866 | 3,726 | 3,286 | 3,317 | 2,975 |
| Gross profit | 1,191 | 1,025 | 915 | 1,334 | 1,991 | 2,118 | 1,951 | 1,699 |
| 522 | 515 | 476 | 751 | 980 | 919 | 1,045 | 1,031 | |
| 669 | 509 | 439 | 583 | 1,011 | 1,199 | 907 | 668 | |
| OPM % | 21.8% | 19.3% | 19% | 13.9% | 17.7% | 22.2% | 17.2% | 14.3% |
| Depreciation | 80 | 88 | 121 | 138 | 138 | 110 | 101 | 110 |
| Interest | 39 | 64 | 56 | 51 | 38 | 8 | 3 | 3 |
| 279 | -197 | -89 | 111 | 89 | 142 | 197 | 385 | |
| Profit before tax | 433 | 161 | 173 | 505 | 924 | 1,223 | 1,000 | 939 |
| Tax | 231 | 46 | 51 | 101 | 156 | 271 | 223 | 238 |
| Tax % | 53.3% | 28.7% | 29.6% | 20% | 16.9% | 22.2% | 22.3% | 25.4% |
| 202 | 115 | 121 | 404 | 768 | 952 | 777 | 701 | |
| PAT margin % | 6.6% | 4.3% | 5.3% | 9.6% | 13.4% | 17.6% | 14.8% | 15% |
| EPS (₹) | — | 12.5 | 14.6 | 56.8 | 114.1 | 71 | 58 | 52.3 |
| EPS adjusted (₹) | — | — | 7.3 | 28.4 | 57.1 | 71 | 58 | 52.3 |
| — | 20% | 23.9% | 8.8% | 4.4% | 14.1% | 17.2% | 19.1% | |
| Annual report | Annual report for Mar 2019 | Annual report for Mar 2020 | Annual report for Mar 2021 | Annual report for Mar 2022 | Annual report for Mar 2023 | Annual report for Mar 2024 | Annual report for Mar 2025 | — |
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 96 | 96 | 34 | 34 | 67 | 67 | 67 | 67 |
| Reserves | 2,654 | 2,549 | 3,265 | 3,951 | 4,707 | 5,664 | 6,273 | 6,809 |
| 546 | 571 | 922 | 709 | 244 | 0 | 0 | 13 | |
| 410 | 467 | 1,135 | 695 | 841 | 858 | 693 | 849 | |
| Total equity & liabilities | 3,705 | 3,684 | 5,356 | 5,388 | 5,859 | 6,589 | 7,033 | 7,739 |
| 1,177 | 1,121 | 2,268 | 2,135 | 2,016 | 1,950 | 1,864 | 1,862 | |
| CWIP | 33 | 31 | 9 | 13 | 14 | 3 | 14 | 72 |
| Investments | 1,310 | 1,360 | 1,071 | 646 | 1,177 | 2,098 | 2,892 | 3,821 |
| 1,186 | 1,172 | 2,008 | 2,593 | 2,651 | 2,538 | 2,263 | 1,984 | |
| Total assets | 3,705 | 3,684 | 5,356 | 5,388 | 5,859 | 6,589 | 7,033 | 7,739 |
As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.
Latest reported period · 31 Mar 2026 · ₹ crore
| Segment | Revenue | Result | Assets | Liabilities | Capital employed | ROCE % |
|---|---|---|---|---|---|---|
| Steel Pipes & Tubes | 4,615.47 | 526.01 | 2,888.54 | 439.47 | 2,449.07 | 21.48 |
| Others /Unallocated | 390.49 | 383.91 |
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 122 | 241 | 93 | -183 | 748 | 447 | -283 | 917 | 1,042 | 610 | 933 | |
| 55 | -101 | 12 | -156 | -744 | -251 | 489 | -382 | -722 | -485 | -775 | |
| -141 | -133 | -95 | 387 | 7 | -210 | -220 | -542 | -320 | -137 | -123 | |
| Net cash flow | 37 | 7 | 10 | 49 | 11 | -15 | -13 | -8 | 0 | -13 | 36 |
| Free cash flow | — | — | — | — | — | 427 | -291 | 898 | 1,010 | 586 | 764 |
| CFO / Operating profit % | — | — | — | -27.3% | 138.4% | 96% | -46.2% | 88.1% | 86.9% | 66.3% | 137% |
| 3,929.48 |
| 413.2 |
| 3,516.28 |
| 10.92 |
| Power - Electricity | 80.34 | 57.85 | 237.58 | 0.88 | 236.7 | 24.44 |
| Rig | 30.73 | -9.13 | 683.44 | 9.04 | 674.4 | -1.35 |
₹ crore by fiscal year