Maharashtra Seamless Q2 results: Profit falls 42% to ₹73 crore, revenue rises nearly 10%
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Maharashtra Seamless Q2 results: Profit falls 42% to ₹73 crore, revenue rises nearly 10% By:Srabastee BiswasNovember 13, 2026 | 15:53 IST - Published OnNov 13, 2026 | 15:53 IST - Last Updated OnNov 13, 2026 | 15:53 IST AI Summary A sharp drop in bottom-line profitability contrasted with steady operational gains, as core steel pipe revenues climbed alongside higher operating earnings. The board announced a key executive appointment and progressed with a strategic corporate demerger. Discover how the management plans to offset margin pressures moving forward. Maharashtra Seamless reported a 41.6% year-on-year decline in consolidated net profit to ₹72.94 crore for the September quarter from ₹125.23 crore in the corresponding quarter last year. Revenue from operations increased 9.6% to ₹1,269.80 crore in the September quarter, from ₹1,158.67 crore a year ago. Total revenue, including other income, stood at ₹1,268.25 crore, compared with ₹1,234.43 crore in the year-ago period. The company's consolidated EBITDA rose 8.9% year-on-year to ₹134 crore in Q2FY27, against ₹123 crore in the corresponding quarter of the previous financial year. However, the EBITDA margin remained largely unchanged at 10.55%, compared with 10.61% a year ago. Profit before tax declined to ₹93.64 crore in the September quarter from ₹169.14 crore in the year-ago period. The company reported total tax expenses of ₹20.70 crore during the quarter, against ₹43.91 crore in the corresponding period last year. Also read: Manappuram Finance shares decline nearly 4% even after CLSA upgrade on Q2 results For the first half of FY27, Maharashtra Seamless recorded revenue from operations of ₹2,361 crore, compared with ₹2,303.94 crore in the corresponding period last year. Consolidated net profit for the six months stood at ₹339.34 crore, against ₹355.53 crore a year earlier. The company's EBITDA for the first half of the financial year was ₹253.50 crore, while the EBITDA margin stood at around 10.7%. The steel pipes and tubes segment remained the largest contributor to revenue. It recorded revenue of ₹1,247.74 crore in Q2 FY27, compared with ₹1,152.27 crore in the corresponding quarter last year. The power and electricity segment reported revenue of ₹20.73 crore, against ₹19.42 crore a year ago. The rig segment contributed ₹15.39 crore during the quarter. Also read: Maharashtra Seamless posts 16% rise in Q1 profit; revenue slips 5% Separately, the company's board approved the appointment of Manish Kumar Khandelwal as Chief Financial Officer, effective November 13, 2026. Khandelwal, 54, holds a master's degree in management from Stanford University's Graduate School of Business and a master's in management studies from Sydenham Institute of Management. He has around 30 years of experience in finance, strategic acquisitions, business growth, stakeholder management, legal and regulatory matters, and human capital. The board also noted that the scheme for demerger of two business undertakings into wholly owned subsidiaries, MSL Seamless Tubes and United Seamless, had been filed with the stock exchanges for approval. Maharashtra Seamless shares closed at ₹543.10 on the NSE, down ₹27.50 or 4.82%. Also read: Maharashtra Seamless shares fall 6% after board approves demerger of two separate entities Add as preferred sourceFollow CNBC-TV18 on Google and never miss an update! Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go! Home/Market News/Maharashtra Seamless Q2 results: Profit falls 42% to ₹73 crore, revenue rises nearly 10%
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