Maharashtra Seamless Ltd (NSE:MAHSEAMLES)

Q2 2026 Maharashtra Seamless Ltd Earnings Call Transcript

Nov 5, 2025 / 10:30 AM GMT

Release Date Price: ₹573

Transcript

Key Points

Positve

Maharashtra Seamless Ltd (BOM:500265) successfully dispatched 13,000 tons of seamless pipes in Q2 FY26, maintaining the same level as the previous quarter.
The company's order book has improved by 20% from the previous quarter, now standing at 1,378 crores.
The credit rating remains at AA plus, the highest the company has received in the past 112 years.
The treasury is being judiciously managed, with a balance of 3,115 crores as of September 30, 2025.
The company has quadrupled its dividend payouts in recent years, maintaining a strong return to shareholders.

Negative

Margins were impacted due to a slowdown in the oil and gas sector, continuous Chinese dumping, and a notional markdown of inventory.
Revenue declined by 5% in Q2 FY26 compared to Q1 FY26, with EBITDA declining by 27% and PAT by 44%.
The company faces challenges from Chinese dumping, which affects margins across the domestic industry.
There is a decline in other income on a quarterly basis, despite an increase on a half-yearly basis.
Exports have not improved significantly due to tariff issues, affecting the company's international market performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MHSM.NS - Maharashtra Seamless Ltd
Q2 2026 Maharashtra Seamless Ltd Earnings Call
Nov 05, 2025 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Maharashtra Seamless Q2 F 526 earnings conference call hosted by ICICS Securities. As a reminder, all participant lines will be in listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need an assistance during the conference call, please signal an operator by pressing then 0 on your touchstone phone.

Please note that the conference is being recorded. I now hand the conference over to Mr. Vikash Singh.

Thank you and over to you, sir.

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Unidentified_2 [2]
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