Synopsis:
Maharashtra Seamless secured a ₹256 crore domestic order for seamless pipes in the oil and gas sector, with phased deliveries over the next two quarters.
During Thursday’s trading session, shares of a company involved in manufacturing seamless pipes, tubes and ERW pipes, surged nearly 3 percent on BSE, after the company announced securing an order worth nearly Rs. 256 crores from a domestic entity.
At 10:22 a.m., the shares of Maharashtra Seamless Limited were trading in the green at Rs. 616.8 on BSE, up by around 2.3 percent, as against its previous closing price of Rs. 603.25, with a market cap of Rs. 8,264.6 crores. The stock has delivered negative returns of around 5 percent in one year, and has fallen by over 7 percent in the last one month.
What’s the News
According to the latest regulatory filings with the stock exchanges, Maharashtra Seamless Limited has received an order with a basic value of around Rs. 256 crores from an undisclosed domestic entity. The order involves the supply of seamless pipes for the oil and gas sector, with gradual deliveries scheduled over the next two quarters in line with the customer’s requirements.
Financials & More
Maharashtra Seamless reported a marginal decline in revenue from operations, experiencing a year-on-year decrease of nearly 0.5 percent, from Rs. 1,151 crores in Q1 FY25 to Rs. 1,145 crores in Q1 FY26.
In contrast, the company’s net profit increased during the same period from Rs. 129 crores to Rs. 230 crores, representing an impressive rise of nearly 78 percent YoY.
As of July 2025, the company reported an order book of Rs. 1,149 crore. Of this, the ONGC & OIL segment accounted for Rs. 288 crore (25 percent), including drill pipe orders worth Rs. 27 crore, while the Other segment contributed Rs. 861 crore (75 percent), comprising cylinder pipe orders worth Rs. 93 crore. The company’s order book is supported by back-to-back raw material bookings, which help secure margins and mitigate the impact of raw material price fluctuations.
The company holds a 55 percent market share in the seamless pipes segment, supported by manufacturing facilities located at Nagothane and Mangaon in Maharashtra, and Narketpally in Telangana. In the API-certified high-frequency ERW pipes segment, it commands an 18 percent market share, with production operations based at Nagothane, Maharashtra. Additionally, the commissioning of finishing facilities at the Telangana plant will enable activation of the existing capacity of 1 lakh MT per annum.
Maharashtra Seamless Limited is engaged in the business of manufacturing seamless pipes & tubes with the finest quality and a wide product range using the world-renowned CPE technology, along with involvement in renewable power generation and rig operations. The company made a foray into the ERW pipe category in 2000.
Written by Shivani Singh
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