Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q1 FY26 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Jul 30, 2025
Slide 1: E-Communication to stock exchanges
E-Communication MSL/SEC/SE/2025-26 30 July 2025 BSE Limited National Stock Exchange of India Limited 25th Floor, P.J. Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Mumbai-400001 Bandra - Kurla Complex Bandra (E), Mumbai-400051 Stock Code: 500265 Scrip Code: MAHSEAMLES Sub: Earnings Presentatio
Slide 2: Earnings Presentation Quarter ending 30 June 2025
Earnings Presentation Quarter ending 30 June 2025 30 July 2025 1
Slide 3: Forward Looking & Disclaimer Statement
Forward Looking & Disclaimer Statement This document contains “forward-looking statements” about our business, financial performance, skills and prospects. Statements about our plans, intentions, expectation, beliefs, estimates, prediction or similar expression for the future are forward-looking sta
Slide 4: Maharashtra Seamless – Segments & Capacities
Maharashtra Seamless – Segments & Capacities Seamless Pipes ERW Pipes Renewable Energy Rig • Maharashtra • Solar • New generation • 52.50 MW AC at offshore jack up rig • 450,000 mt/annum • API certified Maharashtra & • High frequency Rajasthan • Currently being • Telangana • PSL 2 refurbished for ne
Slide 5: Products & Industries served
Products & Industries served Industries Seamless ERW Others Served Pipes Pipes (Coated & Premium Connections, Pipe Fittings) Agriculture ✓ Automotive ✓ Bearing ✓ Chemical ✓ ✓ Drinking Water ✓ Engineering ✓ Fertilizers ✓ Housing ✓ Irrigation ✓ Mechanical ✓ Oil and Gas ✓ ✓ ✓ Petrochemical ✓ ✓ Power ✓
Slide 6: Quarterly Highlights – Maharashtra Seamless
Quarterly Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 2400 420 36% 280 285 1382 1410 1456 1600 1216 1303 280 231 24% 169 126 18% 20% 20% 800 140 15% 12% Rs. crore Rs. crore 11% 0 0 0% Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 PAT & PAT margin EP
Slide 7: Profit & Loss – Comparison
Profit & Loss – Comparison Rs. crore Particulars MSL Q1 FY26 Q4 FY25 Q1 FY25 FY25 FY24 Revenue from operations 1143 1416 1151 5266 5403 Add: Other income 160 40 65 197 141 Total revenue 1303 1456 1216 5463 5544 Less: Expenses Cost of materials consumed (797) (903) (789) (3286) (3250) Change of inven
Slide 8: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 7200 1500 1223 30% 5790 5544 5463 1038 4065 922 4800 1000 15% 23% 20% 20% 2316 446 18% 18% 2400 500 10% Rs. crore Rs. crore 603 0 0 0% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 PAT & PAT margin EPS (on ex-bonus bas
Slide 9: Operational & Financial Performance
Operational & Financial Performance Particulars Q1 FY26 Q4 FY25 Q1 FY25 FY25 FY24 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 109 22 118 29 95 25 442 91 394 100 Sales (kMT) 103 20 118 26 94 25 442 90 399 103 EBITDA (Rs. Cr) 126 19 188 68 84 13 720 89 1035 76 EBI
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q1 FY26 Q4 FY25 Rs. crore 18 6 17 12 19 68 Total Total EBIDTA - 169 EBIDTA - 285 188 Seamless 126 ERW Renewable Energy Q1 FY25 FY25 12 46 Rig 67 17 89 13 Total Total EBIDTA - 126 84 EBIDTA - 922 720 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars June 25 March 25 March 24 Preference / Preference / Preference / Equity Equity Equity ICD ICD ICD Related Parties Jindal Premium Connections 4 5 4 5 4 3 MSL Finance 3 - 3 - 3 - Maharashtra Seamles
Slide 12: Key Balance Sheet Items – Liquid investments
Key Balance Sheet Items Liquid investments Rs. crore Particulars June 25 March 25 March 24 • Investments in bonds are sub-divided into tax free bonds, perpetual bonds Long duration and corporate bonds. Bonds & NCD 514 638 696 • The investment in bonds because of Corporate Deposits (LIC & ICICI) 20 2
Slide 13: Borrowings – Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars June 25 March 25 March 24 Loan for capex 5 - - Gross Debt (A) - - - Less: Liquid investments (refer slide 11) (2919) (2630) (1859) ICDs given (refer slide 10) - - - Liquidity available (B) (2919) (2630) (1859) • Net cash pos
Slide 14: Corporate Guarantee reduction schedule
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars June 25 March 25 March 24 Corporate Guarantees NIL NIL NIL • No corporate guarantees outstanding from 31 March 2024 onwards. www.alimtiaz.com 13
Slide 15: Capital Allocation
Capital Allocation Industry and Market Trends Estimated annual Sl. Particulars Rs. crore Location turnover increase 1 Heat treatment, finishing facilities & EMI for capacity enhancement 184 Narketpally By Rs. 800 crores 2 Solar plant (captive) to enhance annual cost savings by Rs. 20 crore 80 (USTPL
Slide 16: Order book of MSL as on 25 July 2025
Order book of MSL as on 25 July 2025 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 261* 27 - 288 25% orders of Rs. 27 crore ^Includes cylinder pipes Others 669 129^ 63 861 75% orders of Rs. 93 crore Total 930 156 63 1149 100% Our order book is supported
Slide 17: Government Policies
Government Policies Anti-Dumping Duty: • The Ministry of Finance, on recommendation of Directorate General of Trade Remedies (DGTR), has extended anti-dumping duty by way of a minimum import price for a further period of 5 years from 28 October 2021 on various types of seamless pipes from China. Pol
Slide 18: Sales & Marketing Update
Sales & Marketing Industry Update and Market Trends New discoveries Suryamani and Vajramani, were made by ONGC in OALP-VI block MB-OSHP-2020/2 and OALP-III block MB-OSHP- 2018/1, both in the offshore Mumbai basin. In the Mahanadi basin discoveries were made in the MN-DWHP-2018/1 block, previously cl
Slide 19: Market Trends – Huge Potential
Market Trends – Huge Potential OPEC has revised its global oil demand in calendar year 2025 to 104 mn barrels per day with increased requirement being met from non-OPEC countries such as USA, Norway & Canada. Global oil demand will improve on account of increased air & road travel and infrastructure
Slide 20: Shareholding Structure – 30 June 2025
Shareholding Structure – 30 June 2025 16.63% 68.87% Key changes – Q1 FY26 v/s Q4 FY25 4.08% • Promoter holding increased to 68.87% Promoters 10.42% FII • FII holding increased from 9.63% to 10.42% DII • DII holding increased from 3.96% to 4.08% Others • FII + DII increased from 13.59% to 14.50% • No
Slide 21: Marquee Customers
Marquee Customers Oil and Gas Infrastructure www.alimtiaz.com 20
Slide 22: Investor Contact
Investor Contact Kaushal Bengani Deputy General Manager Investor Relations & Finance Tel. No.: +91-124-4624177 E-Mail: kaushal@mahaseam.com www.jindal.com CIN: L99999MH1988PLC080545 21