Is Maharashtra Seamless a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Maharashtra Seamless Ltd is a average quality company .

Is Maharashtra Seamless undervalued or overvalued?

The key valuation ratios of Maharashtra Seamless Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Maharashtra Seamless share price return in the past 10 years?

Maharashtra Seamless Ltd share price has appreciated 14.8% annually (CAGR) over the past ten years.

Is Maharashtra Seamless a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Maharashtra Seamless Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Maharashtra Seamless Ltd - Stock Valuation and Financial Performance

Name: Maharashtra Seamless
Brand: Maharashtra Seamless

BSE: 500265 | NSE: MAHSEAMLES | Steel & Iron Products | Small Cap

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Maharashtra Seamless Share Price

₹625 -0.25 -0.04%
as on 31-Oct'24 16:01

10 Year X-Ray of Maharashtra Seamless:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	7.3%	2.8%	9.5%	10.3%	15.3%	1.9%	6.1%	13.4%	20.7%	23.8%	-
Value Creation Index ⓘ	-0.5	-0.8	-0.3	-0.3	0.1	-0.9	-0.6	0.0	0.5	0.8	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,355	1,015	1,428	2,130	3,040	2,617	2,225	3,975	5,707	5,403	5,087
Sales YoY Gr.	-	-25.1%	40.8%	49.1%	42.8%	-13.9%	-15%	78.6%	43.6%	-5.3%	-
Adj EPS ⓘ	6.6	1.2	10.4	14.1	26.5	21.7	19	52	59.9	71.5	64.5
YoY Gr.	-	-82.2%	789.7%	35.8%	87.3%	-18%	-12.6%	174%	15.1%	19.4%	-
BVPS (₹) ⓘ	169	160.4	209.9	221.7	237.8	232.6	242.1	294.7	350.9	418.6	435.5
Adj Net Profit ⓘ	88.2	15.6	140	189	355	291	254	697	803	958	864
Cash Flow from Ops. ⓘ	-48.9	18.8	174	87	-183	749	501	-272	908	1,048	-
Debt/CF from Ops. ⓘ	-0	0.4	0.1	0.2	-2.7	1.1	1.4	-2.3	0.3	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	16.6%	12.2%	34.4%	-5.3%
Adj EPS ⓘ	30.4%	22%	55.6%	19.4%
BVPSⓘ	10.6%	12%	20%	19.3%
Share Price	14.8%	27.4%	34.5%	-11.7%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	3.2	0.6	5.1	6.6	11.5	9.2	8	19.4	18.5	18.6	15.1
Op. Profit Mgn % ⓘ	8.1	3.5	15.4	14.4	21.9	21.1	20.1	15.2	18.5	22.7	19.7
Net Profit Mgn % ⓘ	6.5	1.5	9.8	8.9	11.7	11.1	11.4	17.6	14.1	17.7	17
Debt to Equity ⓘ	0	0	0	0	0.2	0.3	0.2	0.2	0.1	0	0
Working Cap Days ⓘ	306	428	300	230	229	314	371	224	163	171	133
Cash Conv. Cycle ⓘ	166	220	141	117	101	91	75	89	103	118	117

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 34.41%

Net Profit is growing at healthy rate in last 3 years 55.57%

Return on Equity has declined versus last 3 years average to 15.10%

Sales growth is not so good in last 4 quarters at -9.99%

Latest Financials - Maharashtra Seamless Ltd.

	Standalone	Consolidated
TTM EPS (₹)	64.5	63
TTM Sales (₹ Cr.)	5,087	5,089
BVPS (₹.) ⓘ	435.5	443.5
Reserves (₹ Cr.) ⓘ	5,769	5,875
P/BV ⓘ	1.43	1.41
PE ⓘ	9.68	9.91

From the Market
52 Week Low / High (₹)	562.65 / 1099.05
All Time Low / High (₹)	3.56 / 1099.05
Market Cap (₹ Cr.)	8,364
Equity (₹ Cr.)	67
Face Value (₹)	5
Industry PE ⓘ	33.2

Management X-Ray of Maharashtra Seamless:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Maharashtra Seamless

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Maharashtra Seamless

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	1,355	1,015	1,428	2,130	3,040	2,617	2,225	3,975	5,707	5,403
Operating Expenses ⓘ	1,246	983	1,208	1,824	2,377	2,081	1,779	3,371	4,673	4,180
Manufacturing Costs	217	160	195	311	362	340	274	457	602	616
Material Costs	947	740	921	1,399	1,877	1,596	1,360	2,713	3,726	3,286
Employee Cost	42	46	52	62	70	75	67	76	96	109
Other Costs ⓘ	38	37	40	53	67	70	77	124	250	170
Operating Profit ⓘ	110	31	220	305	664	536	446	603	1,034	1,223
Operating Profit Margin (%)	8.1%	3.1%	15.4%	14.3%	21.8%	20.5%	20.1%	15.2%	18.1%	22.6%
Other Income ⓘ	83	99	85	68	70	66	91	90	86	141
Interest ⓘ	4	7	10	9	16	48	48	41	36	8
Depreciation ⓘ	29	70	69	74	78	79	105	121	136	109
Exceptional Items ⓘ	0	0	0	0	-146	-450	-191	0	0	0
Profit Before Tax ⓘ	160	54	226	290	493	25	193	531	949	1,246
Tax ⓘ	37	23	80	92	231	46	51	-181	156	271
Profit After Tax	123	31	146	198	262	-21	142	711	793	975
PAT Margin (%)	9.0%	3.1%	10.2%	9.3%	8.6%	-0.8%	6.4%	17.9%	13.9%	18.0%
Adjusted EPS (₹)	9.2	2.4	10.9	14.8	19.6	-1.5	10.6	53.1	59.2	72.8
Dividend Payout Ratio (%)	27%	53%	23%	20%	15%	-81%	17%	5%	8%	14%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	2,802	2,688	2,813	2,971	3,186	3,117	3,244	3,952	4,706	5,614
Share Capital ⓘ	33	33	33	33	33	33	33	33	67	67
Reserves ⓘ	2,769	2,654	2,779	2,938	3,153	3,083	3,210	3,919	4,639	5,547
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	1	7	13	9	484	756	621	515	162	0
Long Term Debt	1	0	11	6	446	750	621	515	162	0
Short Term Debt	0	7	2	3	39	6	0	0	0	0
Trade Payables	66	132	139	130	273	570	733	479	296	292
Others Liabilities ⓘ	227	320	321	338	388	475	540	325	621	559
Total Liabilities ⓘ	3,096	3,147	3,285	3,449	4,332	4,918	5,137	5,271	5,784	6,465
Fixed Assets
Gross Block	1,697	1,710	1,755	1,966	1,983	2,822	2,842	3,650	3,667	3,711
Accumulated Depreciation	532	600	669	743	821	899	998	1,329	1,465	1,574
Net Fixed Assetsⓘ	1,164	1,110	1,086	1,222	1,162	1,923	1,844	2,320	2,202	2,137
CWIP ⓘ	33	31	118	17	23	29	9	13	14	3
Investmentsⓘ	620	662	836	719	759	796	882	548	1,121	1,993
Inventories	490	499	484	509	769	712	870	1,432	1,503	1,573
Trade Receivables	298	265	309	394	495	367	461	562	644	521
Cash Equivalents	16	3	6	10	60	3	50	66	50	55
Others Assetsⓘ	474	576	446	577	1,064	1,088	1,021	330	249	183
Total Assets ⓘ	3,096	3,147	3,285	3,449	4,332	4,918	5,137	5,271	5,784	6,465

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	-49	19	174	87	-183	749	501	-272	908	1,048
PBT ⓘ	160	54	226	291	494	25	195	532	950	1,246
Adjustment ⓘ	-34	7	12	39	189	539	294	98	112	2
Changes in Working Capital ⓘ	-140	-20	7	-160	-691	315	35	-920	-86	14
Tax Paid ⓘ	-34	-23	-71	-83	-175	-130	-23	18	-67	-215
Cash Flow From Investing Activity ⓘ	120	19	-151	-34	-181	-1,027	-307	423	-466	-722
Capex	-23	-13	-132	-110	-23	-846	-9	-6	-19	-32
Net Investments	119	9	235	236	99	-167	-197	114	-477	-797
Others ⓘ	24	24	-254	-161	-257	-14	-102	315	29	107
Cash Flow From Financing Activityⓘ	-84	-41	-20	-49	415	221	-146	-147	-457	-320
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	-1	11	-6	444	317	-133	-109	-357	-165
Interest Paid ⓘ	-3	-7	-10	-6	-14	-57	-41	-36	-31	-6
Dividend Paid ⓘ	-40	-33	-17	-34	-40	-40	-17	-24	-34	-67
Others ⓘ	-41	0	-4	-3	25	0	45	21	-36	-82
Net Cash Flow ⓘ	-14	-3	3	4	51	-57	47	4	-16	6

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	5.48	1.43	5.86	6.86	8.52	-0.66	4.45	19.78	18.33	18.91
ROCE (%)	7.28	2.75	9.47	10.28	15.29	1.93	6.11	13.39	20.67	23.77
Asset Turnover Ratio	0.47	0.36	0.49	0.64	0.78	0.57	0.44	0.76	1.03	0.88
PAT to CFO Conversion(x)	-0.4	0.61	1.19	0.44	-0.7	N/A	3.53	-0.38	1.15	1.07
Working Capital Days
Receivable Days	80	93	67	59	53	60	68	47	39	39
Inventory Days	116	163	114	84	77	103	130	106	94	104
Payable Days	41	49	54	35	39	97	175	82	38	33

Maharashtra Seamless Ltd Stock News

Maharashtra Seamless Ltd FAQs

What is the share price of Maharashtra Seamless?

Company share prices are keep on changing according to the market conditions. The closing price of Maharashtra Seamless on 31-Oct-2024 16:01 is ₹625.0.

What is the market cap of Maharashtra Seamless?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Oct-2024 16:01 the market cap of Maharashtra Seamless stood at ₹8,364.2.

What is the P/E ratio of Maharashtra Seamless?

The latest P/E ratio of Maharashtra Seamless as of 31-Oct-2024 16:01 is 9.68.

What is the P/B ratio of Maharashtra Seamless?

The latest P/B ratio of Maharashtra Seamless as of 31-Oct-2024 16:01 is 1.43.

What is the 52-week high and low of Maharashtra Seamless?

The 52-week high of Maharashtra Seamless is ₹1,099.1 and the 52-week low is ₹562.6.

What is the TTM revenue of Maharashtra Seamless?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Maharashtra Seamless is ₹5,087 ( Cr.) .

About Maharashtra Seamless Ltd

Maharashtra Seamless Ltd (MSL) was incorporated on May 10, 1988. The company was conceived after noticing huge demand and supply gap in the seamless pipe market, which was met mostly through imports. This import substitute project was set up in 1991 at Nagothane (near Mumbai), Distt. Raigad (Maharashtra), to manufacture seamless pipes & tubes with the finest quality and wide product range using the world renowned CPE technology acquired through technical collaboration with Mannesmann Demag Huttentechnik Gmbh (MDH), Germany at a capital cost of Rs 69 crore. The project was appraised and financed by ICICI in participation with IDBI & IFCI and other banks. Mannesmann Demag is a world leader in steel and seamless pipe industry. Our state of the art plant is only the third of its kind in the world. The plant was commissioned in February 1992. The main plant and machinery was imported from USA based on MDH design.

Business area of the company

Maharashtra Seamless provides a whole range of high-class, customizable and innovative seamless pipes and tubes using state-of-art technology. The company also manufactures ERW Pipes and Coated Pipes. The company also engaged in the business of Wind Power, Steel Pipes & Tubes.

Products

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

Key customer segments

Oil & Gas
Hydro Carbon Process
Bearing Industry
Automotive
Boiler, Heat Exchanger
Plumbing & Firefighting
Structural
General Engineering
Railways
Sewage & Waterwell
Hydraulic Cylinder

Milestones

1989-92: MSL - Entry into Seamless Pipes: The 7” Seamless Pipe plant is set up. Commissioning the country’s first OCTG Seamless Pipe project, the 7” Seamless Pipe plant using CPE technology at Nagothane, Maharashtra (with technical knowhow from German giant Mannesmann Demag Huttentechnik, Gmbh). Today, it is the largest manufacturer of Seamless Pipes and Tubes in India.
2000: MSL sets up a plant to make 20” ERW pipe, largest diameter ERW pipes in India. Today, MSL is one of the largest ERW pipe manufacturers in the country.
2001: Entry into renewable energy: Wind Power MSL ventures into Wind Power energy with 7MW power plant at Satara, Maharashtra.
2004: Another Seamless Pipe manufacturing plant using Plug Mill process is set up at Nagothane. MSL now is capable of producing up to 14” dia. Seamless Pipes.
2005: Entry into Value added Products Premium Connections MSL sets up a JV with Hydril of USA to manufacture Premium Connections required in the most challenging oil & gas sector. Presently, named as Jindal Premium Connections Pvt. Ltd. and wholly owned by the D.P. Jindal Group.
2006: MSL sets up a 3LPP and 3LPE anti-corrosive coating facility near its pipe manufacturing plant. This facility can provide both external and internal coating to pipes up to 1250 mm dia.
2010: An expander added to 14” Seamless Pipe mill. MSL has extended its product range up to 20” diameter.
2012: MSL sets up Solar Power plant at Pokharan, Rajasthan. Allotted under the ‘Jawaharlal National Solar Mission’, the plant can generate 5 MW of power.
2012: Drill Pipes MSL sets up new manufacturing plant at Mangaon, Maharashtra, about 30 km from its main Nagothane plant. Plant capable of manufacturing 6” diameter Drill pipes for the drilling industry.
2017: 20 MW solar PV power project at Village Khetusar, Tehsil Bap, District Jodhpur, Rajasthan 1 MW Roof Top Solar plant at MSL Nagothane factory.
2020: Maharashtra Seamless acquires offshore jack up drilling rig.