Maharashtra Seamless Earnings Call Transcript: Key Takeaways

Highlights
Margins	EBITDA/ton at INR 15,600; expected to maintain/improve with product mix.
Order book	INR 1,709 Cr; 64% comprises higher-margin orders.
Demand visibility	Strong; 42% of order book from oil sector, 20% exports.
Management confidence	High optimism due to 31% order book growth and export revival.

Growth

Revenue grew 3% sequentially. EBITDA declined 23% to INR 184 Cr due to lower production from gas supply disruptions.

Order book reached record INR 1,709 Cr (up 31%). Yearly dispatch guidance of 410,000-430,000 tons. Telangana finishing line priority capex.

Gas supply disruptions in Telangana plant (resolved); expiring anti-dumping duties in Jan 2027; potential raw material price volatility.

EBITDA/ton guidance INR 10,000-15,000 → delivered INR 15,600 (= BEAT)
Start premium connection production in ~6 months → Delivered in Q1 FY27 (= BEAT)
Maintain/improve margins despite dumping → EBITDA/ton improved vs Q3 FY26 (= BEAT)

Telangana finishing line start in current quarter → Ordered INR 107 Cr equipment; priority capex (= PARTIAL)

Maintain tonnage dispatches → Dispatched 101k tons vs 103k tons previous (= MISS)

Source

Earnings Call Transcript filed with NSE, NSE: MAHSEAMLES. Summary written with AI assistance from the document.

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.