Maharashtra Seamless Ltd

(MAHSEAMLES)

Maharashtra Seamless Limited (MSL), a company of the well-diversified DP Jindal Group, was incorporated on 10th May 1988 and is well-known for manufacturing seamless pipes and tubes of superior quality. The plant is located in Raigad Maharashtra and equipped with state-of-the-art machinery. The company has a technical collaboration with Mannesmann Demag Huttentechnik, Germany, and produces size range from 3/4” OD to 7” OD in hot finished and from 10 mm OD to 108 mm OD in cold drawn and cold pilgered condition. The company also produces ERW pipes from 8” to 20” and wall thickness from 3.2 mm to 12.70 mm. As on 31st March 2019, the company had 6 subsidiaries, 2 of which were registered in India while the other 4 were located outside India.

The company entered into the Renewable Power Generation and Rig Operations business in 2000 and commissioned another joint venture in 2004-05 in order to manufacture premium joint connections. In 2008, MSL acquired a seamless plant located in Romania and opened an export branch in USA to facilitate better services and customer support in USA, Canada and Latin America. Following this, the company had received export orders of USD 45 million from USA and domestic orders of Rs 860 million from Indian Oil Corporation (IOC). To meet the company's planned seamless pipe expansion, MSL plans to set up a 1 million ton per year billet plant in Maharashtra.

From 2013-14, MSL completed a buyback of equity shares worth Rs. 100 crore for Rs. 69.21 crore with the company's paid up capital after buyback being Rs. 33.49 crore. As on 31st March 2022, the company has 7 subsidiaries, of which 2 are wholly owned subsidiary companies registered in India and 4 are registered outside India. During this period, the company commissioned a 20 MW Solar Power Plant in Jodhpur Rajasthan, a 1 MW rooftop solar power plant in Nagothane, 10 MW captive power plants in Beed Maharashtra, 1.5 MWp Rooftop Power Solar Plants at its own manufacturing sites and 21 MWp Solar Power Plant in Solapur Maharashtra. The company also successfully acquired United Seamless Tubular Pvt. Ltd. (USTPL) in 2019 and purchased Offshore Jack Up Drilling Rig for USD 100 million from Star

Share Price: ₹618.75 per share as on 11 Oct, 2024 04:01 PM
Market Capitalisation: ₹8,365.77Cr as of today
Revenue: ₹1,150.98Cr as on June 2024 (Q2 24)
Net Profit: ₹128.84Cr as on June 2024 (Q2 24)
Listing date: 14 Dec, 1994
Chairperson Name: D P Jindal