Maharashtra Seamless Ltd

Mah. Seamless Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Maharashtra Seamless Ltd

₹ 641 1.98%
22 Nov - close price
jindal.com BSE: 500265 NSE: MAHSEAMLES
About

Incorporated in 1988, Maharashtra Seamless Ltd manufactures seamless pipes & tubes, ERW pipes. It is also in the business of renewable power generation and rig operations[1]

Key Points

Business Overview:[1]
MSL is a part of the D. P. Jindal Group. It manufactures Seamless and Electric Resistance Welded (ERW) pipes. It has also developed a renewable power portfolio
Product Categories:
a) Electrical Resistance Welding Pipes:[2]
Company manufactures MS Black ERW
pipes and Galvanized ERW pipes in various sizes, grades and specifications. ERW pipes have various applications like fencing, line pipe, scaffolding etc.
b) Seamless Pipe:[3]
It is a pipe without a seam or a weld-joint
in contrast to Seam or Welded pipe. MSL
is also the only manufacturer in India to
offer the maximum size range upto 20”
catering to customers across all sectors.
It exports to US, Canada, Latin America,
Europe, Africa & Asia
c) Coated Pipes:[4]
Pipeline coating protects ERW /Seamless pipes from corrosion, from moisture, other harmful chemicals. Types of coatings available are 3 LPE (External 3 Layer Polyethylene)-link, 3LPP (External 3 Layer Polypropylene)-link,
FBE (External Fusion Bonded Epoxy (Single / Dual Layer))-link, Internal Epoxy Coating-link

Website BSE NSE
  • Market Cap ₹ 8,589 Cr.
  • Current Price ₹ 641
  • High / Low ₹ 1,099 / 563
  • Stock P/E 9.94
  • Book Value ₹ 436
  • Dividend Yield 1.56 %
  • ROCE 23.8 %
  • ROE 18.9 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 23.4% CAGR over last 5 years

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

Part of BSE 250 SmallCap Index BSE Industrials BSE 400 MidSmallCap Index BSE Allcap Nifty 500 Multicap 50:25:25

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
811 947 1,419 1,334 1,148 1,337 1,623 1,223 1,535 1,430 1,215 1,151 1,291
687 808 1,224 1,103 967 1,092 1,311 979 1,202 1,061 939 1,025 1,060
Operating Profit 124 139 195 231 181 245 312 244 333 370 276 126 231
OPM % 15% 15% 14% 17% 16% 18% 19% 20% 22% 26% 23% 11% 18%
32 22 5 13 20 18 30 33 29 35 44 65 91
Interest 10 11 11 10 10 9 5 7 1 1 0 1 1
Depreciation 26 26 35 34 26 34 34 34 25 25 25 25 25
Profit before tax 120 123 154 199 164 221 304 237 336 378 295 165 296
Tax % 23% 26% 26% 27% 25% 24% -2% 9% 24% 26% 24% 18% 24%
93 91 114 146 123 168 310 216 256 280 223 136 224
EPS in Rs 6.92 6.82 8.53 10.93 9.18 12.52 23.13 16.10 19.07 20.92 16.66 10.15 16.73
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,722 1,206 1,355 1,015 1,428 2,130 3,040 2,617 2,225 3,975 5,707 5,403 5,087
1,551 1,118 1,246 979 1,208 1,824 2,376 2,065 1,777 3,371 4,669 4,180 4,085
Operating Profit 171 88 110 36 220 306 664 551 448 603 1,038 1,223 1,003
OPM % 10% 7% 8% 4% 15% 14% 22% 21% 20% 15% 18% 23% 20%
70 63 83 95 85 67 -77 -399 -102 90 82 141 234
Interest 6 3 4 7 10 9 16 48 48 41 36 8 3
Depreciation 37 37 29 70 69 74 78 79 105 121 136 109 100
Profit before tax 198 111 160 54 226 290 493 25 193 531 949 1,246 1,134
Tax % 22% 13% 23% 42% 36% 32% 47% 181% 27% -34% 16% 22%
153 97 123 31 146 198 262 -21 142 711 793 975 864
EPS in Rs 10.87 7.07 9.15 2.35 10.86 14.81 19.58 -1.54 10.57 53.09 59.18 72.76 64.46
Dividend Payout % 28% 42% 27% 53% 23% 20% 15% -81% 17% 5% 8% 14%
Compounded Sales Growth
10 Years: 16%
5 Years: 12%
3 Years: 34%
TTM: -11%
Compounded Profit Growth
10 Years: 31%
5 Years: 23%
3 Years: 51%
TTM: -9%
Stock Price CAGR
10 Years: 15%
5 Years: 28%
3 Years: 36%
1 Year: -30%
Return on Equity
10 Years: 8%
5 Years: 9%
3 Years: 19%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 35 34 34 34 34 34 34 34 34 34 67 67 67
Reserves 2,787 2,757 2,769 2,654 2,779 2,938 3,153 3,083 3,210 3,919 4,639 5,547 5,773
11 15 1 7 18 15 489 802 718 633 244 0 0
272 351 292 452 454 462 656 999 1,176 686 834 851 875
Total Liabilities 3,105 3,157 3,096 3,147 3,285 3,449 4,332 4,918 5,137 5,271 5,784 6,465 6,715
1,254 1,231 1,164 1,110 1,086 1,222 1,162 1,923 1,844 2,129 2,011 1,945 1,901
CWIP 52 18 33 31 118 17 23 29 9 13 14 3 2
Investments 697 698 620 662 836 719 759 796 882 548 1,121 1,993 2,530
1,101 1,211 1,278 1,343 1,245 1,490 2,388 2,170 2,402 2,581 2,638 2,524 2,281
Total Assets 3,105 3,157 3,096 3,147 3,285 3,449 4,332 4,918 5,137 5,271 5,784 6,465 6,715

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
286 73 -49 19 174 87 -183 749 501 -272 908 1,048
-218 38 120 19 -151 -34 -181 -1,027 -307 435 -466 -722
-80 -89 -84 -41 -20 -49 415 221 -146 -147 -457 -320
Net Cash Flow -12 21 -14 -3 3 4 51 -57 47 16 -16 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 68 102 80 95 79 68 59 51 76 52 41 35
Inventory Days 155 186 189 246 192 133 149 163 233 193 147 175
Days Payable 12 62 25 65 55 34 53 130 197 64 29 32
Cash Conversion Cycle 212 226 243 276 216 166 156 84 112 180 159 177
Working Capital Days 181 259 281 399 257 216 232 181 147 175 135 136
ROCE % 6% 3% 4% 2% 9% 10% 20% 14% 11% 13% 21% 24%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
64.90% 67.00% 67.08% 67.26% 67.64% 67.80% 67.80% 67.86% 67.86% 68.00% 68.00% 68.04%
1.00% 1.15% 1.28% 2.67% 3.08% 2.84% 5.96% 7.98% 10.50% 11.96% 9.23% 7.97%
3.14% 3.41% 3.69% 4.00% 3.76% 3.92% 4.18% 4.26% 4.19% 3.81% 5.26% 4.34%
30.96% 28.44% 27.95% 26.08% 25.52% 25.43% 22.05% 19.89% 17.44% 16.22% 17.49% 19.65%
No. of Shareholders 28,76027,64030,97536,51349,03347,26150,77154,87961,98969,66377,50096,466

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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