Mahalaxmi Seamless Ltd

₹ 10.4 4.92%

05 Oct - close price

mls.com, www.mahalaxmitubes.com BSE: 513460

About

Incorporated in 1992, Mahalaxmi
Seamless Ltd is in the business
of Cold drawn Seamless Pipes
and Tubes^[1]

Key Points

Business Overview:^[1]^[2]
MSL manufactures cold-drawn seamless pipes and tubes used in various industries such as oil and gas, petrochemicals, engineering, and power.
As of FY25, the company is in the business of creating software to automate business processes of various clients and developing software products.

Website BSE

Market Cap ₹ 5.51 Cr.
Current Price ₹ 10.4
High / Low ₹ 11.6 / 7.05
Stock P/E
Book Value ₹ -1.02
Dividend Yield 0.00 %
ROCE 6.73 %
ROE %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -0.21% over past five years.

* 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

Industrials Capital Goods Industrial Products Iron & Steel Products

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0.45	0.47	0.46	0.47	0.45	0.49	0.47	0.45	0.45	0.45	0.48	0.51	0.62
	0.24	0.28	0.29	0.30	0.26	0.31	0.29	0.27	0.23	0.27	0.33	0.77	0.41
Operating Profit	0.21	0.19	0.17	0.17	0.19	0.18	0.18	0.18	0.22	0.18	0.15	-0.26	0.21
OPM %	46.67%	40.43%	36.96%	36.17%	42.22%	36.73%	38.30%	40.00%	48.89%	40.00%	31.25%	-50.98%	33.87%
	0.01	-1.56	0.01	0.02	0.02	0.01	0.00	0.00	0.01	0.01	0.01	0.00	0.02
Interest	0.03	0.03	0.02	0.02	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.07	0.04
Depreciation	0.12	0.12	0.12	0.09	0.08	0.08	0.10	0.09	0.07	0.03	0.05	0.05	0.04
Profit before tax	0.07	-1.52	0.04	0.08	0.08	0.06	0.03	0.04	0.11	0.11	0.06	-0.38	0.15
Tax %	28.57%	1.32%	25.00%	-162.50%	-12.50%	-16.67%	-33.33%	-100.00%	18.18%	9.09%	0.00%	-13.16%	0.00%
	0.05	-1.54	0.03	0.21	0.08	0.06	0.04	0.07	0.09	0.10	0.06	-0.33	0.16
EPS in Rs	0.09	-2.92	0.06	0.40	0.15	0.11	0.08	0.13	0.17	0.19	0.11	-0.62	0.30
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	18.62	11.04	10.72	3.90	1.87	1.87	1.91	2.02	1.83	1.84	1.86	1.89	2.06
	18.07	11.08	12.34	3.59	1.21	1.25	0.97	0.99	1.00	1.09	1.18	1.60	1.78
Operating Profit	0.55	-0.04	-1.62	0.31	0.66	0.62	0.94	1.03	0.83	0.75	0.68	0.29	0.28
OPM %	2.95%	-0.36%	-15.11%	7.95%	35.29%	33.16%	49.21%	50.99%	45.36%	40.76%	36.56%	15.34%	13.59%
	0.93	0.15	0.63	-0.20	0.11	0.28	0.33	0.13	0.09	-1.53	0.03	0.02	0.04
Interest	0.90	0.93	0.62	0.51	0.30	0.43	0.46	0.19	0.11	0.10	0.21	0.21	0.21
Depreciation	0.65	0.59	0.60	0.60	0.60	0.58	0.55	0.52	0.47	0.44	0.31	0.20	0.17
Profit before tax	-0.07	-1.41	-2.21	-1.00	-0.13	-0.11	0.26	0.45	0.34	-1.32	0.19	-0.10	-0.06
Tax %	85.71%	3.55%	2.71%	0.00%	-30.77%	-9.09%	-53.85%	-20.00%	-14.71%	-6.82%	-31.58%	-20.00%
	-0.13	-1.46	-2.28	-1.00	-0.09	-0.09	0.40	0.54	0.39	-1.24	0.25	-0.07	-0.01
EPS in Rs	-0.25	-2.76	-4.32	-1.89	-0.17	-0.17	0.76	1.02	0.74	-2.35	0.47	-0.13	-0.02
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-16%
5 Years:	0%
3 Years:	1%
TTM:	11%

Compounded Profit Growth
10 Years:	7%
5 Years:	%
3 Years:	%
TTM:	-104%

Stock Price CAGR
10 Years:	5%
5 Years:	8%
3 Years:	12%
1 Year:	11%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5.29	5.29	5.29	5.29	5.29	5.28	5.28	5.28	5.28	5.28	5.28	5.28
Reserves	-1.18	-2.65	-4.92	-5.92	-6.01	-6.09	-5.69	-5.15	-4.76	-6.01	-5.75	-5.82
	4.71	8.04	4.76	4.19	6.32	5.47	4.90	1.84	1.36	1.54	2.34	1.94
	7.89	5.08	4.66	3.34	3.03	2.90	2.72	2.35	2.22	2.34	1.10	1.61
Total Liabilities	16.71	15.76	9.79	6.90	8.63	7.56	7.21	4.32	4.10	3.15	2.97	3.01
	6.82	6.35	5.88	5.40	4.80	4.23	3.69	3.18	2.85	2.42	2.21	2.02
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03
	9.89	9.41	3.91	1.50	3.83	3.33	3.52	1.14	1.25	0.73	0.76	0.96
Total Assets	16.71	15.76	9.79	6.90	8.63	7.56	7.21	4.32	4.10	3.15	2.97	3.01

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1.69	-2.72	1.11	1.30	0.58	0.50	0.69	-5.00	0.82	-0.61	0.42	0.33
	0.59	-0.32	0.93	-0.07	-2.36	0.85	0.25	8.07	0.06	0.53	-1.26	-0.42
	-2.01	2.60	-2.05	-1.48	1.71	-1.27	-0.93	-2.98	-0.47	0.07	-0.34	-0.56
Net Cash Flow	0.27	-0.43	-0.01	-0.25	-0.07	0.08	0.01	0.10	0.40	-0.01	-1.17	-0.64
Free Cash Flow	1.69	-2.83	1.16	1.17	0.58	0.49	0.68	-5.01	0.67	-0.62	-0.28	0.33
CFO/OP	307%	6,625%	-75%	435%	106%	87%	83%	58%	99%	-81%	62%	114%

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	57.83	31.08	10.21	16.85	31.23	33.18	42.04	34.33	9.97	7.93	31.40	30.90
Inventory Days	151.30	473.89	154.54	12.71
Days Payable	200.62	226.97	133.20	147.09
Cash Conversion Cycle	8.51	277.99	31.56	-117.53	31.23	33.18	42.04	34.33	9.97	7.93	31.40	30.90
Working Capital Days	-43.91	-93.23	-131.43	-143.19	-286.93	-191.28	-170.08	-65.05	-195.46	-388.80	-349.30	-289.68
ROCE %	8.87%	-4.51%	-22.52%	-5.29%	3.71%	6.24%	15.74%	19.81%	23.38%	26.02%	29.85%	6.73%

Insights

In beta

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Lease rental income from factory leased to Jindal Saw Ltd (Rent from Investment Property)
Rs. Lakhs

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x		x	x	x	x		x

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Number of employees
count

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Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	45.52%	45.52%	45.84%	45.84%	45.84%	45.84%	45.84%	45.84%	45.84%	45.84%	45.84%	45.84%
	54.48%	54.48%	54.16%	54.16%	54.16%	54.16%	54.16%	54.16%	54.15%	54.16%	54.16%	54.16%
No. of Shareholders	5,252	5,326	5,301	5,347	5,416	5,586	5,581	5,554	5,646	5,661	5,636	5,635

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	44.41%	45.47%	45.64%	45.64%	45.64%	45.64%	45.52%	45.84%	45.84%	45.84%	45.84%
	55.59%	54.53%	54.36%	54.36%	54.36%	54.36%	54.48%	54.16%	54.16%	54.16%	54.16%
No. of Shareholders	4,996	4,962	4,952	4,948	4,965	5,198	5,283	5,301	5,581	5,636	5,635

Mahalaxmi Seamless Ltd

Mahalaxmi Seamless Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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