Maharashtra Seamless secured orders worth ₹256 crore; shares jump over 2%

Shares of Maharashtra Seamless are buzzing in early trade on Thursday as the company received a seamless pipe order from a domestic entity in the oil & gas sector. The shares of the company made an intraday high of ₹619 apiece on the NSE on Thursday.

The company’s exchange filing read,” We are pleased to inform you that the Company has received an order with a basic value of ₹256 crores approx. for the supply of seamless pipes”. The order is for the supply of seamless pipes from a domestic company, which is expected to be completed in the next 2 quarters.

In the latest quarter, the revenue slipped marginally during the June 2025 quarter. A decline of about ₹1142 crore was observed as compared to ₹1150 crore during the corresponding quarter last year. Handsome Net Profit growth of 72.02% reported above the corresponding previous quarter figure of ₹233.8 crore to ₹135.9 crore. As of Q1FY26, the current order book stands at ₹1,149 crore, down by ₹400 crore, primarily due to Chinese dumping, sluggish tender issuance in the oil & gas sector.

Maharashtra Seamless is engaged in manufacturing steel pipes and tubes. The Company operates through two segments: Steel Pipes & Tubes, and Power - Electricity. It offers electric resistance welding (ERW) pipes, including mild steel (MS) and galvanized pipes and American Petroleum Institute (API) line pipes; seamless pipes, such as hot finished pipes and tubes, cold drawn tubes and boiler tubes; coated pipes, including three layer polyethylene coating, fusion bonded epoxy coating, internal coating and three layer polypropylene, and pipe fittings.

Shares of the company posted a muted performance in the last year with high volatility. Since last September shares have traded 3% lower and 11% lower on a YTD basis.