Maharashtra Seamless Limited ("MSL" or the "Company"), India's largest manufacturer of seamless pipes, announced its unaudited Standalone results for Q3 FY2019.
Q3 FY 2019 Standalone Financial Highlights:
- Total Revenue of Rs. 786 Crore, up 39%
- Total Pipes Production Volumes of 103,959 MT
- Seamless Pipes Production Volume of 87,069 MT
- ER W Pipes Production Volume of 16,890 MT
- EBITDA of Rs. 157 Crore, up 158%
- PBT of Rs. 143 Crore, up 151%
- PAT of Rs. 93 Crore, up 139%
Q3 FY 2019 Operational Highlights:
- Total pipes production up I 0% yoy, at 104k MT
- Strong seamless pipes production at 87k MT, 12% yoy
- ERW production up 5% yoy at 17k MT
- Continued ramp-up of Seamless Pipes capacities
- 350k MTP A Nagothane and 200k MTP A Mangaon plants are expected to reach to full capacity by June 2019
- Strong order book position of Rs. 1,300 Crore at end-December vs Rs. 950 Crore at end-September
- Generated 65% of power requirement through renewable sources
- NCLT approved MSL resolution plan for USTPL having capacity of 350k MTPA. Acquisition expected to be completed soon
Commenting on MSL's results and performance, Mr. Saket Jindal, Managing Director, said: "The Maharashtra Seamless team has delivered very strong results for Q3 FY2019, with PAT of Rs. 93 crore, up 139% compared to last year. We are India's largest seamless pipes producer, and one of the most efficient globally. Our production was up 10%, and margins were strong as the global demand environment was supportive and we remained efficient on the cost front.
We are in the process ,of completing the acquisition of United Seamless (USTPL) through the IBC process. USTPL has a seamless pipes capacity of 350k MTPA, and will further strengthen our market position, and generate long-term shareholder value."
Shares of MAHARASHTRA SEAMLESS LTD. was last trading in BSE at Rs.463.2 as compared to the previous close of Rs. 466.15. The total number of shares traded during the day was 16938 in over 743 trades.
The stock hit an intraday high of Rs. 478 and intraday low of 463. The net turnover during the day was Rs. 7971444.