MAHSEAMLES

Maharashtra Seamless Limited is seeking shareholder approval via Postal Ballot to shift its Registered Office from the State of Maharashtra to the State of Haryana. The move is proposed for better control, co-ordination, and reduction in costs, as the majority of directors operate from Gurugram/NCR. E-voting will occur from May 26, 2026, to June 24, 2026, with results expected within two working days thereafter.

Standalone Revenue ₹1,279.91 Cr vs ₹1,415.83 Cr (▼9.60% YoY), EBITDA ₹235.79 Cr vs ₹285.05 Cr (▼17.28% YoY), PAT ₹107.53 Cr vs ₹242.53 Cr (▼55.66% YoY) for the quarter ended March 31, 2026. EBITDA Margin 19.14% vs 19.58% (▼44bps). The Board recommended a dividend of INR 10.00 (200%) per equity share for FY 2025-26. Other key decisions include the proposed shifting of the Registered Office from Maharashtra to Haryana and the appointment of Cost Auditors for FY 2026-27.

Maharashtra Seamless Limited's Board approved a scheme of arrangement to demerge its Demerged Undertaking 1 (seamless pipe manufacturing and a solar plant, ₹793 Cr turnover in FY25-26) into MSL Seamless Tubes Limited, and Demerged Undertaking 2 (seamless pipe manufacturing, solar plants, and a rig, ₹693 Cr turnover in FY25-26) into United Seamless Limited. The appointed date for the demerger is October 1, 2026. Shareholders of Maharashtra Seamless Limited will receive 1 equity share of each Resulting Company (MSTL and USL) for every 5 equity shares held in MSL. The demerger aims to achieve focused business operations, improved strategic alignment, efficient capital allocation, and enhanced long-term stakeholder value.

Standalone Revenue ₹1,279.91 Cr vs ₹1,415.83 Cr (▼9.6% YoY), EBITDA ₹235.79 Cr vs ₹285.05 Cr (▼17.3% YoY), PAT ₹107.53 Cr vs ₹242.53 Cr (▼55.7% YoY). EBITDA Margin 18.4% vs 20.1% (▼170bps).

Standalone Operating Revenue ₹1,279.91 Cr vs ₹1,415.83 Cr (▼9.6% YoY), EBITDA ₹238.83 Cr vs ₹285.05 Cr (▼16.2% YoY), PAT ₹107.53 Cr vs ₹242.53 Cr (▼55.7% YoY). EBITDA Margin 18.66% vs 20.13% (▼147bps). The Board also recommended a dividend of INR 10.00 (200%) per equity share for FY2025-26.

Consolidated Revenue ₹1,280.11Cr vs ₹1,417.77Cr (▼9.72% YoY), EBITDA ₹231.18Cr vs ₹284.79Cr (▼18.78% YoY), PAT ₹102.84Cr vs ₹242.26Cr (▼57.55% YoY). EBITDA Margin 18.06% vs 20.09% (▼203bps).