Maharashtra Seamless Ltd.

BSE: MAHSEAMLES500265ISIN INE271B01025

Industrials
Iron & Steel Products
BSE 500

Share price

₹556.00+9.20 (+1.68%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹768.00
52W low: ₹500.00
Off 52W high: -27.60%
1M return: -18.89%
3M return: -4.43%
6M return: -12.07%
1Y return: -3.03%
20D avg volume: 20,371
50 DMA: ₹642.68
200 DMA: ₹602.21

Key ratios Consolidated

Market cap: ₹7,450 Cr
Current price: ₹556.00
52W high / low: ₹768.00 / ₹500.00
Face value: ₹5.00
P/E: 10.11
P/B: 1.08
EPS (TTM): ₹55.01
Book value / share: ₹513.17
ROE: —
ROCE: 13.00%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-63.34 Cr
Interest cover: 370.39
Dividend yield: 1.80%
Dividend / share (TTM): ₹10.00
Payout: 18.18%
Cash conversion cycle: 113.4 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,091	1,280	1,090	1,159	1,145	1,418	1,408	1,292	1,151	1,215	1,431	1,535
	174.42	47.91	199.95	75.76	159.76	39.97	1.72	90.73	64.80	44.00	34.81	29.97
	1,266	1,232	1,290	1,234	1,305	1,458	1,410	1,383	1,216	1,259	1,466	1,565
	939.49	1,074	967.55	1,062	1,002	1,158	1,154	1,087	1,052	969.17	1,088	1,229
	742.44	783.69	654.24	710.35	799.02	904.54	808.16	785.07	789.24	779.43	728.67	946.13
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	36.61	35.14	33.27	33.31	32.40	31.21	30.73	30.57	30.38	27.47	26.82	27.40
	0.53	0.85	0.82	0.43	0.48	0.50	0.52	0.81	0.93	0.46	0.69	0.72
	30.63	31.25	28.76	25.19	24.96	25.39	25.28	25.24	25.01	23.82	25.74	25.74
	238.33	234.64	203.45	219.31	226.30	243.89	226.78	235.76	201.78	190.52	179.55	238.61
	326.13	157.72	322.69	172.81	302.84	299.24	255.51	295.72	163.32	289.73	378.37	335.90
	0.00	-3.04	0.00	0.00	-3.19	0.00	0.00	0.00	0.00	0.00	-4.05	0.00
	326.13	154.68	322.69	172.81	299.65	299.24	255.51	295.72	163.32	289.73	374.32	335.90
	56.01	48.33	76.81	43.91	69.35	56.61	65.69	71.65	28.93	71.45	98.16	80.56
	266.40	102.84	242.65	125.23	230.30	242.26	186.06	220.16	128.84	218.28	276.16	250.62
	19.88	7.67	18.12	9.35	17.19	18.06	13.89	16.42	9.65	16.30	20.59	18.69
Key metrics
	357.29	186.78	352.27	198.43	325.09	325.13	281.31	321.77	189.26	314.01	400.75	362.36
	32.70%	14.60%	32.30%	17.10%	28.40%	22.90%	20.00%	24.90%	16.40%	25.80%	28.00%	23.60%
	24.40%	8.00%	22.30%	10.80%	20.10%	17.10%	13.20%	17.00%	11.20%	18.00%	19.30%	16.30%
	—	2.10%	—	2.50%	—	4.40%	—	—	—	—	—	—
	-4.70%	-9.70%	-22.60%	-10.30%	-0.50%	16.70%	-1.60%	-15.90%	—	—	—	—
	15.70%	-57.50%	30.40%	-43.10%	78.70%	11.00%	-32.60%	-12.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	4,620	4,674	5,269	5,404	5,716	4,200
	498.04	387.56	197.22	142.20	88.87	110.86
	5,022	5,062	5,466	5,546	5,805	4,311
	4,043	4,106	4,452	4,323	4,852	3,777
	2,891	2,947	3,287	3,250	3,728	3,019
	0.00	0.00	0.00	—	—	—
	138.33	134.12	122.89	109.33	96.38	81.80
	2.63	2.58	2.76	8.47	38.32	50.70
	115.83	110.16	100.92	109.72	137.73	137.86
	895.73	883.70	908.21	810.00	853.92	639.85
	979.35	956.06	1,014	1,223	953.09	534.50
	-3.04	-3.04	0.00	0.00	0.00	0.00
	976.31	953.02	1,014	1,223	953.09	534.50
	225.06	238.40	222.88	271.15	156.08	101.18
	737.12	701.02	777.32	951.68	767.58	404.05
	55.02	52.33	58.02	70.99	57.07	56.75
Key metrics
	1,095	1,066	1,117	1,341	1,129	723.06
	23.69%	22.80%	21.20%	24.80%	19.80%	17.20%
	15.95%	15.00%	14.80%	17.60%	13.40%	9.60%
	—	13.00%	15.00%	—	—	—
	-12.21%	-11.30%	-2.50%	-5.50%	36.10%	—
	-16.12%	-9.80%	-18.30%	24.00%	90.00%	—
	—	763.57	586.42	—	—	—
	—	1.33	0.78	—	—	—
	—	0.00	0.00	—	—	—
	—	-63.34	-41.72	—	—	—
	—	113.4	127.6	—	—	—
Balance sheet
	—	7,739	7,033	—	—	—
	—	5,558	4,435	—	—	—
	—	76.70	41.82	—	—	—
	—	564.68	653.49	—	—	—
	—	1,139	1,342	—	—	—
	—	99.82	72.68	—	—	—
	—	1,862	1,862	—	—	—
	—	251.34	152.48	—	—	—
	—	392.25	271.33	—	—	—
	—	13.36	0.10	—	—	—
	—	4.67	0.00	—	—	—
	—	8.69	0.10	—	—	—
	—	6,876	6,340	—	—	—
Cash flow
	—	933.24	609.63	—	—	—
	—	-774.81	-485.28	—	—	—
	—	-122.74	-137.10	—	—	—
	—	169.67	23.21	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,091	1,280	1,090	1,158	1,143	1,416	1,408	1,291	1,151	1,215	1,430	1,535
	175.12	-47.99	199.92	75.73	159.71	40.22	1.57	90.74	64.71	43.89	34.78	29.10
	1,266	1,232	1,290	1,234	1,303	1,456	1,410	1,382	1,216	1,259	1,465	1,564
	939.53	1,073	966.09	1,061	999.36	1,157	1,154	1,086	1,051	963.93	1,087	1,228
	742.27	783.74	654.23	710.30	796.73	903.47	808.16	785.07	789.24	779.65	728.52	945.99
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	36.15	34.61	32.69	32.97	32.02	30.78	30.42	30.20	30.14	27.24	26.66	27.24
	1.39	0.83	0.80	0.42	0.48	0.77	0.51	0.84	0.87	0.45	0.68	0.72
	30.59	31.14	28.64	25.08	24.85	25.33	25.19	25.06	24.90	24.83	25.26	25.26
	238.18	233.82	202.72	218.91	226.25	243.56	226.55	235.60	200.41	184.30	179.47	238.48
	326.79	158.87	323.97	173.52	303.21	299.17	255.86	295.85	164.88	294.75	378.45	336.14
	0.00	-3.04	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	326.79	155.83	323.97	173.52	303.21	299.17	255.86	295.85	164.88	294.75	378.45	336.14
	56.01	48.30	76.81	43.91	69.35	56.64	65.69	71.65	28.93	71.46	98.16	80.56
	270.78	107.53	247.16	129.61	233.86	242.53	190.17	224.20	135.95	223.29	280.29	255.58
	20.21	8.02	18.44	9.67	17.45	18.10	14.19	16.73	10.15	16.66	20.92	19.07
Key metrics
	358.77	187.80	353.41	199.02	328.54	325.27	281.56	321.75	190.65	320.03	404.39	362.12
	32.90%	14.70%	32.40%	17.20%	28.70%	23.00%	20.00%	24.90%	16.60%	26.30%	28.30%	23.60%
	24.80%	8.40%	22.70%	11.20%	20.50%	17.10%	13.50%	17.40%	11.80%	18.40%	19.60%	16.60%
	—	2.10%	—	2.50%	—	4.50%	—	—	—	—	—	—
	-4.50%	-9.60%	-22.60%	-10.30%	-0.70%	16.50%	-1.60%	-15.90%	—	—	—	—
	15.80%	-55.70%	30.00%	-42.20%	72.00%	8.60%	-32.20%	-12.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	4,620	4,671	5,266	5,403	5,707	3,556
	402.78	387.37	197.24	141.17	82.93	88.24
	5,023	5,059	5,463	5,544	5,790	3,644
	4,039	4,099	4,447	4,298	4,841	3,163
	2,891	2,945	3,286	3,250	3,728	2,570
	0.00	0.00	0.00	—	—	—
	136.42	132.29	121.54	108.62	95.73	71.00
	3.44	2.53	2.99	8.44	35.75	39.91
	115.45	109.71	100.48	109.28	135.88	106.30
	893.63	881.70	906.12	785.99	848.12	522.98
	983.15	959.57	1,016	1,246	949.07	481.51
	-3.04	-3.04	0.00	—	—	—
	980.11	956.53	1,016	1,246	949.07	481.51
	225.03	238.37	222.91	271.16	156.08	101.06
	755.08	718.16	792.85	974.93	792.99	380.45
	56.34	53.59	59.17	72.76	59.18	56.78
Key metrics
	1,099	1,069	1,119	1,364	1,121	627.72
	23.79%	22.90%	21.30%	25.20%	19.60%	17.70%
	16.34%	15.40%	15.10%	18.00%	13.90%	10.70%
	—	13.10%	15.20%	—	—	—
	-12.14%	-11.30%	-2.50%	-5.30%	60.50%	—
	-15.23%	-9.40%	-18.70%	22.90%	108.40%	—
	—	796.84	585.48	—	—	—
	—	1.35	0.77	—	—	—
	—	0.00	0.00	—	—	—
	—	-61.34	-2.03	—	—	—
	—	111.7	85.0	—	—	—
Balance sheet
	—	7,714	6,959	—	—	—
	—	5,530	4,426	—	—	—
	—	74.70	2.13	—	—	—
	—	542.65	38.71	—	—	—
	—	1,138	1,339	—	—	—
	—	99.42	65.95	—	—	—
	—	1,860	1,859	—	—	—
	—	251.19	151.50	—	—	—
	—	391.48	269.76	—	—	—
	—	13.36	0.10	—	—	—
	—	4.67	0.00	—	—	—
	—	8.69	0.10	—	—	—
	—	6,858	6,273	—	—	—
Cash flow
	—	966.01	607.43	—	—	—
	—	-807.26	-485.67	—	—	—
	—	-122.76	-136.61	—	—	—
	—	169.17	21.95	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -6.46%
Sales CAGR 5Y: —
Profit CAGR 3Y: -3.25%
Profit CAGR 5Y: —
Sales YoY (TTM): -12.14%
Profit YoY (TTM): -15.23%

Consolidated

Sales CAGR 3Y: -6.49%
Sales CAGR 5Y: —
Profit CAGR 3Y: -2.98%
Profit CAGR 5Y: —
Sales YoY (TTM): -12.21%
Profit YoY (TTM): -16.12%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 70.29%

Holder	Type	Holding	Previous	Change
ODD & EVEN TRADES & FINANCE LIMITED	Promoter Group	19.44%	—	—
STABLE TRADING CO LIMITED	Promoter Group	17.98%	—	—
BRAHMADEV HOLDING AND TRADING LTD	Promoter Group	8.96%	—	—
GLOBAL JINDAL FIN INVEST LTD	Promoter Group	8.74%	—	—
SUDHA APPARELS LIMITED	Promoter Group	5.75%	—	—
HARYANA CAPFIN LIMITED	Promoter Group	4.99%	—	—
QUANT MUTUAL FUND - QUANT MULTI CAP FUND	Public	2.00%	—	—
SAKET JINDAL	Promoter	1.72%	—	—
JHANJHARI HOLDINGS P LTD	Public	1.03%	—	—
DHARAM PAL JINDAL	Promoter	0.54%	—	—
DHARAM PAL JINDAL AND SONS HUF	Promoter Group	0.47%	—	—
SAVITA JINDAL	Promoter Group	0.41%	—	—
SWOT TRADING AND SERVICES LLP	Promoter Group	0.41%	—	—
RAGHAV JINDAL	Promoter Group	0.25%	—	—
RAGHAV JINDAL HUF	Promoter Group	0.15%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Welspun Corp Limited	62,814	2,390.60	26.60	16.70%	+13.62% TTM	+9.55% TTM	+158.46%
APL Apollo Tubes Limited	60,557	2,198.30	46.60	28.20%	+15.83% TTM	+24.90% TTM	+23.52%
Shyam Metalics and Energy Limited S	35,594	1,231.00	58.56	12.00%	+6.12% TTM	+12.47% TTM	+38.81%
Ratnamani Metals & Tubes Ltd	17,208	2,453.80	33.44	16.30%	-16.31% TTM	-8.61% TTM	+0.53%
Jindal Saw Ltd.	16,560	253.35	32.58	10.80%	-0.73% TTM	-55.61% TTM	+48.64%
Usha Martin Ltd.	14,861	485.60	29.16	18.20%	+8.54% TTM	+25.85% TTM	+2.31%
GODAWARI POWER AND ISPAT LTD.	13,946	205.65	17.14	17.90%	+8.43% TTM	+8.78% TTM	-26.21%
GALLANTT ISPAT LIMITED	12,931	528.55	31.30	18.00%	+5.52% TTM	-17.31% TTM	-5.83%
Jayaswal Neco Industries Ltd S	8,870	91.72	12.94	24.20%	+18.34% TTM	+82.81% TTM	+21.19%
Maharashtra Seamless Ltd.	7,688	556.00	10.11	13.00%	-12.21% TTM	-16.12% TTM	-3.03%
Aeroflex Industries Limited	7,149	567.10	83.87	16.50%	+55.03% TTM	+87.04% TTM	+210.65%
Sunflag Iron & Steel Co. Ltd.	7,022	392.30	34.35	3.70%	+9.35% TTM	+4.58% TTM	+48.12%
Technocraft Industries (India) Ltd.	6,286	2,719.40	17.69	19.30%	+12.39% TTM	+33.31% TTM	+12.14%
Man Industries (India) Ltd	5,973	767.35	28.17	16.10%	+10.75% TTM	+26.33% TTM	+94.91%
Shivalik Bimetal Controls Ltd.	5,758	1,072.50	58.24	25.00%	+27.78% TTM	+33.44% TTM	+130.55%
Goodluck India Limited	5,320	542.70	24.86	19.40%	+18.76% TTM	+31.22% TTM	+32.51%
SAMBHV STEEL TUBES LIMITED	4,965	165.80	25.04	17.50%	—	—	+41.23%
Bansal Wire Industries Limited	4,950	59.80	5.97	16.20%	+20.27% TTM	+2.82% TTM	-2.99%
Surya Roshni Ltd.	4,758	206.40	14.41	15.00%	+11.69% TTM	+8.34% TTM	-31.93%
Electrosteel Castings Ltd.	4,302	68.60	35.12	5.10%	-15.69% TTM	-78.91% TTM	-23.36%
Kalyani Steels Ltd	3,778	864.65	13.40	16.20%	-1.11% TTM	+8.01% TTM	+1.58%
Venus Pipes & Tubes Limited S	3,757	1,840.60	40.76	22.80%	+21.73% TTM	+15.01% TTM	+45.10%
Kirloskar Industries Ltd	3,574	3,308.30	10.24	—	+3.82% TTM	-0.15% TTM	-12.15%
Vardhman Special Steels Ltd S	3,502	356.90	21.41	13.50%	+14.75% TTM	+68.58% TTM	+20.94%
Ratnaveer Precision Engineering Limited S	3,128	380.35	41.84	13.30%	+21.02% TTM	+45.53% TTM	—

Filings & corporate actions

Recent announcements

Receipt of order from Hon''ble Regional Director, Western Region-II, Mumbai for shifting of Registered Office19 Oct 2026 · Company Update / General
Attached12 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Attached7 Oct 2026 · Company Update / Scheme of Arrangement
Resignation of Mr. S.P. Raj form the Directorship of the Company26 Sep 2026 · Company Update / Resignation of Director
Intimation of closure of Trading Window25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Schedule of Analyst/Investor Meet23 Sep 2026 · Company Update / Analyst / Investor Meet
Voting Results along with Consolidated Scrutinizers'' Report of 38th Annual General Meeting held on 15th September, 202615 Sep 2026 · AGM/EGM / AGM
Summary of proceeding of the 38th Annual General Meeting held on 15th September, 202615 Sep 2026 · AGM/EGM / AGM
Corrigendum to the Annual Report for the Financial Year 2025-26. In page no. 124 in Independent Auditors' Report on Consolidated Financial Statement wherein at part of the sentence reading ....1 Sep 2026 · Others / Reg. 34 (1) Annual Report
Attached25 Aug 2026 · Company Update / General
Newspaper advertisement published in newspaper regarding Notice of Annual General Meeting including e-voting information sent to shareholders25 Aug 2026 · Company Update / Newspaper Publication
Business Responsibility and Sustainability Report (BRSR) of the Company for the financial year 2025-2624 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report for the Financial Year 2025-26.24 Aug 2026 · Others / Reg. 34 (1) Annual Report
Notice of 38th Annual General Meeting and Annual Report for ten financial year 2025-2624 Aug 2026 · AGM/EGM / AGM
Intimation regarding publication of Pre AGM Notice and Record Date21 Aug 2026 · Company Update / Newspaper Publication
Attached12 Aug 2026 · Company Update / Earnings Call Transcript
Newspaper publication of financial results for the quarter ended on 30th June, 202610 Aug 2026 · Company Update / Newspaper Publication
Attached8 Aug 2026 · Company Update / General
Earning Presentation Q1FY277 Aug 2026 · Company Update / Investor Presentation
Appointment of Mr. Shiv Kumar Singhal as Whole-time Director and Dr. Raj Kamal Agarwal as Independent Director of the Company7 Aug 2026 · Company Update / Change in Management
Record date for dividend7 Aug 2026 · Corp. Action / Record Date
Outcome of Board Meeting7 Aug 2026 · Board Meeting / Outcome of Board Meeting
Un-audited financial results for the quarter ended 30th June 20267 Aug 2026 · Result / Financial Results
Schedule of Analyst/ Investor Meet5 Aug 2026 · Company Update / Analyst / Investor Meet
Intimation of sad demise of Mr. Ashok Bhandari, Independent Director of the Company3 Aug 2026 · Company Update / Demise
Maharashtra Seamless Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/08/2026 ,inter alia, to consider and approve the Un-audited Financial ....29 Jul 2026 · Board Meeting / Board Meeting
Attached13 Jul 2026 · Company Update / Newspaper Publication
Attached7 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper advertisement regarding opening of special window for re-lodgment of transfer requests of physical shares4 Jul 2026 · Company Update / Newspaper Publication
Attached3 Jul 2026 · Company Update / Resignation of Chief Financial Officer (CFO)
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Odd & Even Trades & Finance Ltd1 Jul 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Attached30 Jun 2026 · Company Update / Change in Management
Voting Results of Postal Ballot through remote e-voting and Scrutinizer''s Report25 Jun 2026 · AGM/EGM / Postal Ballot
Intimation of Closure of Trading Window24 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Update on Scheme of Arrangement15 Jun 2026 · Company Update / General
Annual Secretarial Compliance Report for the year ended 31st March, 202627 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Newspaper advertisement regarding Postal Ballot Notice26 May 2026 · Company Update / Newspaper Publication
Submission of Postal Ballot Notice25 May 2026 · AGM/EGM / Postal Ballot
Newspaper publication of financial results for the quarter and year ended March 31, 202624 May 2026 · Company Update / Newspaper Publication
Attached22 May 2026 · Company Update / General

Corporate actions

Purpose	Ex date	Record date	Payment date
Dividend - Rs. - 10.0000	1 Sep 2026	1 Sep 2026	—
Dividend - Rs. - 10.0000	14 Aug 2025	14 Aug 2025	—
Dividend - Rs. - 10.0000	14 Aug 2024	14 Aug 2024	—

Board meetings

7 Aug 2026 Board Meeting - Financial Results