Maharashtra Seamless Ltd

₹ 390 0.58%
05 Dec - close price
About

Maharashtra Seamless Limited, incorporated in 1988, is engaged in the business of manufacturing of Steel Pipes and Tubes. It is also engaged in power generation. [1]

Key Points

Product Portfolio
ERW Pipes - MS & Galvanized Pipes, API Line Pipes, OCTG, OCTG Casing Tubing.
Seamless Pipes - Hot Finished Pipes & Tubes, Cold Drawn Tubes, Boiler Tubes, API Line Pipes, OCTG, OCTG Casing, and Tubing, OCTG Drill Pipe.
Coated Pipes - 3LPE, FBE, 3LPP, Internal Coating, Premium Connections, Pipe Fittings. [1]

  • Market Cap 5,229 Cr.
  • Current Price 390
  • High / Low 455 / 224
  • Stock P/E 9.99
  • Book Value 299
  • Dividend Yield 0.64 %
  • ROCE 12.5 %
  • ROE 10.5 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 17.6%

Cons

  • Company has a low return on equity of 7.39% over last 3 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

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
791 570 588 459 579 562 709 690 951 1,139 1,419 1,334 1,414
632 460 491 365 459 480 566 570 816 979 1,251 1,115 1,171
Operating Profit 158 110 97 94 120 83 142 120 135 160 168 220 243
OPM % 20% 19% 17% 21% 21% 15% 20% 17% 14% 14% 12% 16% 17%
19 15 -250 17 36 23 -164 32 32 22 25 18 22
Interest 16 16 14 16 15 13 12 11 11 12 17 11 13
Depreciation 20 20 28 29 29 36 27 35 34 34 35 35 34
Profit before tax 141 89 -194 66 112 56 -61 106 122 136 140 193 217
Tax % -30% 27% -9% 32% 26% 5% 3% 10% 22% 24% 23% 20% 19%
Net Profit 184 65 -211 45 83 53 -60 96 95 104 109 153 177
EPS in Rs 13.81 4.88 -18.20 1.43 6.24 3.94 -4.29 7.15 6.78 7.07 7.37 11.44 13.18
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
2,300 1,729 1,209 1,355 1,019 1,434 2,150 3,052 2,645 2,308 4,200 5,307
1,908 1,558 1,120 1,249 980 1,209 1,839 2,383 2,135 1,867 3,617 4,517
Operating Profit 392 172 89 105 38 225 311 669 509 441 583 790
OPM % 17% 10% 7% 8% 4% 16% 14% 22% 19% 19% 14% 15%
76 70 64 74 57 76 99 -117 -197 -91 111 87
Interest 6 7 5 20 26 34 42 39 64 56 51 52
Depreciation 21 38 37 31 71 71 76 80 88 121 138 139
Profit before tax 441 197 111 129 -2 196 292 433 161 173 505 687
Tax % 30% 23% 13% 29% -1,521% 41% 31% 53% 29% 30% 20%
Net Profit 308 152 102 118 -24 116 200 202 115 121 404 543
EPS in Rs 21.86 10.80 7.39 8.79 -1.81 9.21 15.73 17.48 6.26 7.32 28.37 39.06
Dividend Payout % 14% 28% 40% 28% -69% 27% 19% 17% 20% 24% 9%
Compounded Sales Growth
10 Years: 6%
5 Years: 24%
3 Years: 11%
TTM: 82%
Compounded Profit Growth
10 Years: 3%
5 Years: 30%
3 Years: 8%
TTM: 55%
Stock Price CAGR
10 Years: 10%
5 Years: 10%
3 Years: 29%
1 Year: 57%
Return on Equity
10 Years: 5%
5 Years: 8%
3 Years: 7%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
35 35 34 171 96 96 34 34 34 34 34 34
Reserves 2,721 2,779 2,765 2,763 2,549 2,650 2,896 3,037 3,171 3,265 3,663 3,968
87 151 138 779 602 640 626 1,059 1,145 922 709 637
379 276 352 451 499 532 483 666 889 1,135 982 966
Total Liabilities 3,222 3,241 3,288 4,026 3,684 3,856 4,039 4,795 5,239 5,356 5,388 5,606
1,329 1,260 1,231 1,472 1,121 1,095 1,235 1,173 2,364 2,268 2,135 2,069
CWIP 14 150 34 37 31 119 17 23 29 9 13 18
Investments 520 740 834 1,373 1,444 1,529 1,461 1,276 1,007 1,071 646 1,051
1,360 1,091 1,189 1,143 1,088 1,113 1,326 2,322 1,840 2,008 2,593 2,468
Total Assets 3,222 3,241 3,288 4,026 3,684 3,856 4,039 4,795 5,239 5,356 5,388 5,606

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
86 300 109 104 122 241 93 -183 748 447 -287
-96 -313 -59 -630 12 -107 13 -161 -730 -183 563
22 3 -26 527 -141 -133 -95 387 7 -285 -291
Net Cash Flow 12 -10 23 2 -6 2 10 44 25 -21 -16

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 57 67 102 80 96 79 66 59 50 75 48
Inventory Days 174 155 186 189 246 192 132 150 172 255 183
Days Payable 36 13 63 28 65 55 34 53 129 194 62
Cash Conversion Cycle 195 210 225 241 277 215 165 155 93 135 169
Working Capital Days 162 177 250 233 289 219 181 223 151 171 163
ROCE % 6% 2% 3% 0% 6% 9% 18% 11% 9% 13%

Shareholding Pattern

Numbers in percentages

10 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
62.82 62.93 62.93 63.04 63.78 63.78 63.73 63.82 64.90 67.00 67.08 67.26
1.81 1.55 1.07 1.01 0.96 0.91 0.91 1.05 1.00 1.15 1.28 2.67
8.50 8.61 7.73 7.48 6.84 6.05 5.12 4.37 3.14 3.41 3.69 4.00
26.87 26.91 28.28 28.46 28.42 29.26 30.23 30.76 30.96 28.44 27.95 26.08

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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