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Maharashtra Seamless Limited Q2 FY26 earnings call summary

NSE: MAHSEAMLES · BSE: 500265

Earnings call of 5 Nov 2025, summarised by AI from the filing.

Q2 FY26 revenue ₹1,234 cr (declined 5%), EBITDA ₹123 cr (declined 27%), PAT ₹130 cr (declined 44%); margins impacted by Chinese dumping and oil and gas slowdown.

Key takeaways

  1. Q2 FY26 results Revenue ₹1,234 cr (declined 5%), EBITDA ₹123 cr (declined 27%), PAT ₹130 cr (declined 44%), EPS ₹10 per share.
  2. Guidance Seamless pipe production on track for 4 lakh tons this financial year; Telangana line to commence by end of this financial year.
  3. Order book Improved 20% from previous quarter to ₹1,378 cr.
  4. Margin drivers Margins impacted by oil and gas slowdown, Chinese dumping, and notional markdown of inventory.
  5. Risk Continuous Chinese dumping has affected margins of the entire domestic industry.

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.