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Maharashtra Seamless Limited Q2 FY26 results deck summary

NSE: MAHSEAMLES · BSE: 500265

Results deck of 4 Nov 2025, summarised by AI from the filing.

Q2 FY26 revenue from operations ₹1158 cr and PAT ₹130 cr; order book ₹1378 cr as on 31 October 2025.

Key takeaways

  1. Order book Order book ₹1378 cr as on 31 October 2025, with ONGC & OIL orders of ₹376 cr and others ₹1002 cr.
  2. Capex Total capital expenditure ₹852 cr to be financed through internal accruals; net cash ₹3105 cr as on 30 September 2025.
  3. Shareholding Promoter holding increased to 69.05%; FII holding decreased to 9.86% and DII holding decreased to 3.63%.

Original filing on BSE

Maharashtra Seamless Limited Q1 FY27 results

As filed: Revenue ₹1,091 cr (−5% year on year), EBITDA ₹183 cr (+9% year on year), PAT ₹266 cr (+16% year on year), EBITDA margin 16.8% (+209 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,280 cr (−10% year on year), EBITDA ₹238 cr (−17% year on year), PAT ₹103 cr (−58% year on year), EBITDA margin 18.6% (−153 bps). Score 35 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was well below it. EBITDA margin fell 153 bps year on year. Profit fell 58% from last quarter. Share price after the results: −0.7% in 28 days (Nifty 500: +2.2%).
  • Q3 FY26: Revenue ₹1,090 cr (−23% year on year), EBITDA ₹152 cr (−46% year on year), PAT ₹243 cr (+30% year on year), EBITDA margin 14.0% (−592 bps). Score 24 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was above it. EBITDA margin fell 592 bps year on year. Other income 62% of PBT. Revenue fell 6% from last quarter. Share price after the results: +12.0% in 30 days (Nifty 500: +0.4%).
  • Q2 FY26: Revenue ₹1,159 cr (−10% year on year), EBITDA ₹122 cr (−47% year on year), PAT ₹125 cr (−43% year on year), EBITDA margin 10.5% (−735 bps). Score 19 of 100, Below trend. Revenue and profit growth were below the company's own trend; EBITDA growth was well below it. EBITDA margin fell 735 bps year on year. Other income 44% of PBT. Profit fell 46% from last quarter. Share price after the results: −0.1% in 30 days (Nifty 500: +0.3%).
  • Q1 FY26: Revenue ₹1,145 cr (−1% year on year), EBITDA ₹168 cr (+35% year on year), PAT ₹230 cr (+78% year on year), EBITDA margin 14.7% (+390 bps). Score 60 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 390 bps year on year. Other income 53% of PBT. Revenue fell 19% from last quarter. Share price after the results: −7.0% in 30 days (Nifty 500: −2.5%).
  • Q4 FY25: Revenue ₹1,418 cr (+17% year on year), EBITDA ₹285 cr (+6% year on year), PAT ₹242 cr (+11% year on year), EBITDA margin 20.1% (−212 bps). Score 63 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA and profit growth were in line with it. EBITDA margin fell 212 bps year on year. Share price after the results: +6.2% in 30 days (Nifty 500: +1.7%).
  • Q3 FY25: Revenue ₹1,408 cr (−2% year on year), EBITDA ₹280 cr (−24% year on year), PAT ₹186 cr (−33% year on year), EBITDA margin 19.9% (−597 bps). Score 39 of 100, Below trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were below it. EBITDA margin fell 597 bps year on year. Profit fell 15% from last quarter.
  • Q2 FY25: Revenue ₹1,292 cr (−16% year on year), EBITDA ₹231 cr (−31% year on year), PAT ₹220 cr (−12% year on year), EBITDA margin 17.9% (−381 bps). Score 2 of 100, Below trend. EBITDA margin fell 381 bps year on year. Other income 31% of PBT. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Maharashtra Seamless Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.