Maharashtra Seamless Secures ₹298 Crore Order, Targets Strong Volume Growth

Maharashtra Seamless Limited (MSL) has secured a significant order worth approximately ₹298 crore for the supply of seamless pipes in the oil and gas sector. The contract, awarded by a domestic entity, will be executed in phases over the coming quarters. The company remains optimistic about its growth prospects, targeting steady volume expansion in the years ahead.

Major Order Secured in Oil and Gas Sector

MSL disclosed in a regulatory filing on March 16 that it has secured an order worth ₹298 crore. The seamless pipe manufacturer clarified that the deal does not involve related party transactions, and its promoter group holds no stake in the awarding entity. The order will be fulfilled through phased deliveries based on customer demand over the next few quarters.

Growth Outlook and Financial Performance

MSL anticipates a volume growth of 7-8% for its seamless pipes business in FY25. Kaushal Bengani, Deputy General Manager, stated, “In the last financial year, we dispatched around 4,00,000 tonnes of seamless pipes. This year, in nine months, we have dispatched 3,24,000 tonnes of seamless pipes, and we expect that we will dispatch around 4,35,000 tonnes of seamless pipes in the entire financial year, which gives a volume growth of around 7 to 8% on a year-on-year basis.”

Looking ahead, the company aims to dispatch around 5,00,000 tonnes by FY27. For Q3FY25, MSL reported a revenue of ₹1,408 crore, with margins at 19.87% and a profit after tax of ₹186 crore. As of January 20, 2025, the company’s total order book stood at ₹1,674 crore. Additionally, EBITDA per tonne is projected to be ₹16,500 for FY25.

Maharashtra Seamless Share Performance 

As of March 17, 2025, at 11:35 AM, the shares of Maharashtra Seamless Ltd are trading at ₹649.20 per share, reflecting a decline of 1.84% from the previous closing price. Over the past month, the stock has registered a surge of 7.14%

Conclusion

With a robust order pipeline and a clear growth trajectory, MSL is well-positioned for steady expansion in the seamless pipes sector. The company’s strong financial performance and targeted dispatch volumes indicate confidence in its long-term strategy.

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