MAHSEAMLES

- Mr. Arup Mandal has resigned from the position of Chief Financial Officer (CFO) of Maharashtra Seamless Limited. - His resignation is effective from the closure of 2nd July, 2026, due to personal reasons.

- Mr. Arup Mandal resigned as the Chief Financial Officer (CFO) of Maharashtra Seamless Limited. - The resignation is effective from the close of business on July 2, 2026, due to personal reasons.

- Mr. Pithelis Raj Santhanamarian resigned from the post of Whole-time Director of Maharashtra Seamless Limited, effective June 30, 2026. He will continue to serve as a Non-Executive Director.

- The Special Resolution for shifting the registered office from the State of Maharashtra to the State of Haryana, and consequential amendment in the Memorandum of Association, was approved by shareholders through Postal Ballot. - The resolution passed with a requisite majority effective from June 24, 2026, with 99.99% of total votes polled in favour.

- Trading Window for designated persons closed from July 1, 2026. - It will reopen 48 hours after the declaration of financial results for the quarter ended June 30, 2026. - The date of the Board Meeting for these results will be intimated later.

- The previously approved Scheme of Arrangement by the Board of Directors is under further review. - The scheme will be placed before a subsequent Board Meeting for approval and submitted to Stock Exchanges thereafter.

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).