Maharashtra Seamless Limited announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company reported a decline in performance compared to the corresponding period last year, with net profit falling to ₹100 crore from ₹240 crore, reflecting a year-on-year (YoY) decrease of approximately 58.3%. Revenue from operations also contracted to ₹1,280 crore from ₹1,420 crore, marking a 9.8% decline YoY. The EBITDA stood at ₹236 crore compared to ₹280 crore in the same quarter last year, a decrease of 15.7%. The following table summarizes the financial performance:

Maharashtra Seamless Limited (MSL), a flagship company of the D.P. Jindal Group, is a prominent manufacturer in the steel pipe industry. It holds a significant position in the Indian market, particularly in the seamless pipes segment where it maintains a 55% market share. The company serves critical sectors including oil and gas, power, automotive, and engineering, providing a diverse range of products such as seamless pipes, ERW pipes, and coated pipes. In May 2026, the company incorporated wholly-owned subsidiaries, including ‘MSL Seamless Tubes’ and ‘United Seamless’, to expand its manufacturing and operational capabilities. Furthermore, the company was assigned an ESG score of 56 (Moderate) by NSE Sustainability Ratings and Analytics in April 2026. The company’s shareholding pattern includes various institutional investors such as Quant Mutual Fund and The Vanguard Group, alongside promoter-linked entities like Odd & Even Trades & Finance Pvt Ltd and Global Jindal Fin-Invest Ltd.