Maharashtra Seamless Ltd. (MSL), established in 1988, stands as a prominent manufacturer of seamless and ERW (Electric Resistance Welded) steel pipes and tubes in India. Operating as the flagship company of the renowned DP Jindal Group, MSL has carved a niche for itself in the steel industry, catering to diverse sectors such as oil and gas, power generation, refineries, automobiles, infrastructure, and engineering. The company is recognized for its cutting-edge technology and commitment to quality, producing seamless pipes renowned for their superior durability and reliability, essential for critical applications like energy transmission and drilling. Beyond its core manufacturing expertise, MSL has diversified into renewable energy and rig services, aligning with sustainable practices and contributing to India’s energy and infrastructure growth. With an expanding domestic and international footprint, MSL upholds a reputation for innovation, operational excellence, and a forward-looking approach to meet evolving industry demands.
Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
Promoters + | 67.86% | 68.00% | 68.00% | 68.04% | 68.06% |
FIIs + | 10.50% | 11.96% | 9.23% | 7.97% | 9.12% |
DIIs + | 4.19% | 3.81% | 5.26% | 4.34% | 3.85% |
Public + | 17.44% | 16.22% | 17.49% | 19.65% | 18.96% |
No. of Shareholders | 61,989 | 69,663 | 77,500 | 96,466 | 1,29,024 |
The shareholding pattern of Maharashtra Seamless reflects a dynamic shift in stakeholder engagement over the year, showcasing changes across various investor categories and an increasing shareholder base. As of December 2023, promoters held a majority stake of 67.86%, which marginally increased to 68.06% by December 2024, indicating consistent promoter confidence in Maharashtra Seamless. Foreign Institutional Investors (FIIs) exhibited variability, starting at 10.50% in December 2023, peaking at 11.96% in March 2024, and settling at 9.12% by December 2024, highlighting fluctuating interest from international stakeholders. Domestic Institutional Investors (DIIs) maintained a moderate presence, ranging from 3.81% to 5.26% during the period. The public shareholding witnessed notable growth, increasing from 17.44% in December 2023 to 18.96% by December 2024, reflecting heightened retail participation. The number of shareholders surged significantly from 61,989 in December 2023 to 1,29,024 by December 2024, underscoring growing market interest and confidence in Maharashtra Seamless.
Latest News on Maharashtra Seamless
Maharashtra Seamless Ltd. (MSL) has recently garnered attention by securing a substantial order valued at approximately ₹298 crore, highlighting its strong foothold in the seamless pipe manufacturing sector. The order, awarded by a domestic entity, involves the supply of seamless pipes tailored to meet the critical demands of the oil and gas sector, a domain known for its stringent quality and performance standards. The company plans to execute this contract in a phased manner over the upcoming quarters, aligning with the specific requirements and timelines set by the client. This achievement underscores MSL’s technical expertise, production capabilities, and its ability to cater to high-value contracts within a competitive industry landscape.
Below are the trading platforms that you can use to purchase Maharashtra Seamless shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
When | Maximum Price | Minimum Price |
April 2025 | 725.77 | 558.28 |
May 2025 | 704.63 | 542.02 |
June 2025 | 736.34 | 566.41 |
July 2025 | 721.90 | 555.31 |
August 2025 | 744.23 | 572.48 |
September 2025 | 753.16 | 579.35 |
October 2025 | 772.74 | 594.42 |
November 2025 | 792.06 | 609.28 |
December 2025 | 827.70 | 636.69 |
In 2025, the share price of Maharashtra Seamless is projected to exhibit a consistent upward trend throughout the year. Starting with April, the maximum price is expected to reach ₹725.77, while the minimum may stand at ₹558.28. By December, the stock is anticipated to peak at a maximum of ₹827.70, with a minimum of ₹636.69.
When | Maximum Price | Minimum Price |
January 2026 | 852.53 | 655.79 |
February 2026 | 831.22 | 639.40 |
March 2026 | 847.84 | 652.19 |
April 2026 | 865.15 | 665.50 |
May 2026 | 856.58 | 658.91 |
June 2026 | 877.99 | 675.38 |
July 2026 | 860.78 | 662.14 |
August 2026 | 887.40 | 682.62 |
September 2026 | 905.15 | 696.27 |
October 2026 | 928.68 | 714.37 |
November 2026 | 951.90 | 732.23 |
December 2026 | 975.70 | 750.54 |
As we move forward into 2026, the share price of Maharashtra Seamless is expected to display remarkable growth throughout the year. Starting with January, the maximum price is projected to reach ₹852.53, while the minimum may stand at ₹655.79. By December, the stock is anticipated to achieve a peak maximum of ₹975.70, with a minimum of ₹750.54.
When | Maximum Price | Minimum Price |
January 2027 | 985.45 | 758.04 |
February 2027 | 1,010.72 | 777.48 |
March 2027 | 1,050.14 | 807.80 |
April 2027 | 1,029.55 | 791.96 |
May 2027 | 999.56 | 768.89 |
June 2027 | 1,044.54 | 803.50 |
July 2027 | 1,024.06 | 787.74 |
August 2027 | 1,055.73 | 812.10 |
September 2027 | 1,092.69 | 840.53 |
October 2027 | 1,121.09 | 862.38 |
November 2027 | 1,149.12 | 883.94 |
December 2027 | 1,177.85 | 906.04 |
When | Maximum Price | Minimum Price |
January 2028 | 1,201.41 | 924.16 |
February 2028 | 1,232.21 | 947.86 |
March 2028 | 1,280.27 | 984.82 |
April 2028 | 1,255.17 | 965.51 |
May 2028 | 1,218.61 | 937.39 |
June 2028 | 1,273.44 | 979.57 |
July 2028 | 1,248.48 | 960.37 |
August 2028 | 1,287.09 | 990.07 |
September 2028 | 1,332.14 | 1,024.72 |
October 2028 | 1,366.77 | 1,051.36 |
November 2028 | 1,400.94 | 1,077.65 |
December 2028 | 1,435.96 | 1,104.59 |
When | Maximum Price | Minimum Price |
January 2029 | 1,464.68 | 1,126.68 |
February 2029 | 1,502.24 | 1,155.57 |
March 2029 | 1,560.83 | 1,200.64 |
April 2029 | 1,530.22 | 1,177.09 |
May 2029 | 1,485.65 | 1,142.81 |
June 2029 | 1,552.51 | 1,194.24 |
July 2029 | 1,522.07 | 1,170.82 |
August 2029 | 1,569.14 | 1,207.03 |
September 2029 | 1,624.06 | 1,249.28 |
October 2029 | 1,666.29 | 1,281.76 |
November 2029 | 1,707.94 | 1,313.80 |
December 2029 | 1,750.64 | 1,346.65 |
When | Maximum Price | Minimum Price |
January 2030 | 1,785.65 | 1,373.58 |
February 2030 | 1,831.44 | 1,408.80 |
March 2030 | 1,902.87 | 1,463.74 |
April 2030 | 1,865.56 | 1,435.04 |
May 2030 | 1,811.22 | 1,393.25 |
June 2030 | 1,892.72 | 1,455.94 |
July 2030 | 1,855.61 | 1,427.39 |
August 2030 | 1,913.00 | 1,471.54 |
September 2030 | 1,979.96 | 1,523.04 |
October 2030 | 2,031.44 | 1,562.64 |
November 2030 | 2,082.22 | 1,601.71 |
December 2030 | 2,134.28 | 1,641.75 |
As we step into 2030, the share price of Maharashtra Seamless is projected to show significant advancements throughout the year. Beginning in January, the maximum price is expected to reach ₹1,785.65, while the minimum may settle at ₹1,373.58. By December, the stock is anticipated to achieve a remarkable maximum of ₹2,134.28, with a minimum of ₹1,641.75.
Financial Condition of Maharashtra Seamless
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
Sales + | 2,645 | 2,308 | 4,211 | 5,716 | 5,404 | 5,066 |
Expenses + | 2,135 | 1,867 | 3,628 | 4,705 | 4,205 | 4,174 |
Operating Profit | 509 | 441 | 583 | 1,011 | 1,199 | 892 |
OPM % | 19% | 19% | 14% | 18% | 22% | 18% |
Other Income + | -197 | -91 | 111 | 88 | 142 | 201 |
Interest | 64 | 56 | 45 | 38 | 8 | 3 |
Depreciation | 88 | 121 | 138 | 138 | 110 | 99 |
Profit before tax | 161 | 173 | 511 | 924 | 1,223 | 991 |
Tax % | 29% | 30% | -35% | 17% | 22% | |
Net Profit + | 115 | 121 | 692 | 768 | 952 | 753 |
EPS in Rs | 6.26 | 7.32 | 51.62 | 57.07 | 71 | 56.26 |
Dividend Payout % | 20% | 24% | 5% | 9% | 14% |
Maharashtra Seamless has demonstrated significant financial performance and growth over the years, reflecting its robust operations and ability to adapt to changing market dynamics. The company’s sales revenue increased steadily from ₹2,645 crore in March 2020 to a peak of ₹5,716 crore in March 2023 before stabilizing at ₹5,404 crore in March 2024, with a trailing twelve months (TTM) figure of ₹5,066 crore. Expenses followed a similar trend, rising from ₹2,135 crore in March 2020 to ₹4,205 crore in March 2024, showcasing the company’s scale of operations.
Operating profit showcased an upward trend, improving from ₹509 crore in March 2020 to ₹1,199 crore in March 2024, with an operating profit margin (OPM) peaking at 22% during the same year. This reflects Maharashtra Seamless’s efficient cost management and focus on profitability. Despite fluctuations, the company maintained strong profitability with a net profit of ₹952 crore in March 2024, up significantly from ₹115 crore in March 2020.
Key financial metrics, such as Earnings Per Share (EPS), rose sharply from ₹6.26 in March 2020 to ₹71 in March 2024, underscoring value creation for shareholders. The dividend payout ratio varied, with a notable increase from 9% in March 2023 to 14% in March 2024, reflecting a commitment to rewarding investors. Overall, Maharashtra Seamless’s financial trajectory highlights its strength in operational efficiency, profitability, and shareholder value.
FAQs
What is Maharashtra Seamless current market cap?
Maharashtra Seamless is presently valued at a market capitalization of ₹8,811 crore, reflecting its standing in the textile industry.
As of March 17, 2025, Maharashtra Seamless share price stands at ₹658, illustrating its current market valuation and investor sentiment.
In 2025, Maharashtra Seamless anticipates its share price to vary from ₹542.02 to ₹827.70 driven by its strategic initiatives and market dynamics.
Looking ahead to 2030, Maharashtra Seamless forecasts its share price to reach anywhere between ₹1,641.75 to ₹2,134.28 by December, underscoring long-term growth prospects.
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Conclusion
Maharashtra Seamless Ltd. has established itself as a leader in the seamless and ERW steel pipe manufacturing sector, supported by a robust financial performance and a dynamic shareholding pattern. The company’s consistent revenue growth, strong operating margins, and expanding shareholder base underscore its market strength and investor confidence. Diversification into renewable energy and rig services highlights its forward-looking approach, while securing significant orders reaffirms its technical prowess. With projected share price growth reaching a maximum of ₹2,134.28 by December 2030, Maharashtra Seamless is well-positioned for sustained growth, aligning with industry demands and contributing to India’s infrastructure development.
I personally do not hold Maharashtra Seamless shares at the time of writing.
What did we learn?
- 1 Shareholdings Patterns of Maharashtra Seamless
- 2 Latest News on Maharashtra Seamless
- 3 How to Purchase Maharashtra Seamless Shares in India?
- 4 Maharashtra Seamless Share Price Prediction: 2025 – 2030
- 4.1 Maharashtra Seamless Share Price Target 2025
- 4.2 Maharashtra Seamless Share Price Prediction 2026
- 4.3 Maharashtra Seamless Share Price Prediction 2027
- 4.4 Maharashtra Seamless Share Price Target 2028
- 4.5 Maharashtra Seamless Share Price Prediction 2029
- 4.6 Maharashtra Seamless Share Price Target 2030
- 5 Financial Condition of Maharashtra Seamless
- 6 FAQs
- 7 Conclusion