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Maharashtra Seamless Ltd.

BSE: 500265 Sector: Metals & Mining
NSE: MAHSEAMLES ISIN Code: INE271B01025
BSE LIVE 15:40 | 14 Dec 465.15 -9.90
(-2.08%)
OPEN

477.05

HIGH

478.80

LOW

460.00

NSE 15:44 | 14 Dec 465.55 -9.70
(-2.04%)
OPEN

472.00

HIGH

477.50

LOW

456.00

OPEN 477.05
PREVIOUS CLOSE 475.05
VOLUME 3838
52-Week high 512.95
52-Week low 225.00
P/E 20.23
Mkt Cap.(Rs cr) 3,117
Buy Price 0.00
Buy Qty 0.00
Sell Price 463.00
Sell Qty 40.00
OPEN 477.05
CLOSE 475.05
VOLUME 3838
52-Week high 512.95
52-Week low 225.00
P/E 20.23
Mkt Cap.(Rs cr) 3,117
Buy Price 0.00
Buy Qty 0.00
Sell Price 463.00
Sell Qty 40.00

Maharashtra Seamless Ltd. (MAHSEAMLES) - Company History

Maharashtra Seamless Limited (MSL), incorporated on 10th May 1988, is the flagship company of the well diversified DP Jindal group. The Company is engaged in the manufacture of seamless pipes (various capacities), which find application in oil exploration, boilers, pipelines, petrochemicals etc. The plant is located at Raigad, Maharashtra, and is equipped with state-of-the-art machinery. The company has a technical collaboration with Mannesmann Demag Huttentechnik, Germany. MSL uses the world-renowned CPE technology and is capable of producing size range from 3/4' OD to 7' OD in hot finished and from 10 mm OD to 108 mm OD in cold drawn and cold pilgered condition. Besides seamless pipes and tubes, the company also makes large diameter Electric Resistance Welded (ERW) pipes from size 8' to 20' and wall thickness from 3.2 mm to 12.70 mm. About 20 per cent of the production of MSL is exported to USA and 7 per cent to other countries. The Company had signed a Memorandum of Understanding (MoU) for continuous supply of Steel Billets in the year 1994-95. MSL agreed with Salosha Investments and Financial Services Ltd and Shree Ambaji Properties Ltd during the year 1995-96 for manufacturing activities. In September of the year 2000 the company's new project of Electric Resistance Welded (ERW) Pipes for producing 4' OD to 21' OD ERW Pipes with an installed capacity of 50,000 M.T. per annum at Pipe Nagar, Maharashtra was commissioned. In the year 2001-02, the company production capacity was doubled from 50,000 MT to 1, 00,000 MT. During the year 2004-2005, the company entered into joint venture with Hydril LP to manufacture premium joint connections to facilitate company consolidation in both domestic and international market of seamless pipes by going to new export avenues. In same year of 2004-2005 the company expanded its production facilities, using plug mill technology supported by world class revelers, to manufacture for the first time in India, large size seamless pipes of diameter upto 14 inches and wall thickness upto 40 mm. As on 4th January 2008, the company acquired seamless plant in Romania with an installed capacity of 200,000 TPA. In the same year, the company opened its export branch in USA to facilitate better services and customer support to its large base of Oil Country Tubular Goods (OCTG) and Line pipe customers in USA, Canada and Latin America. In June of the same year 2008, MSL had bagged export orders worth USD 45 million from USA. The company has also received domestic order worth Rs 860 million from Indian Oil Corporation (IOC). MSL plans to set up a 1 million ton per year billet plant in Maharashtra to feed its planned seamless pipe expansion. The backward integration project at Dubri in Orissa is part of MSL's aim to increase pipe capacity to 5, 00,000 tons per year from the current 3, 50,000 tons. The proposed steel plant will manufacture billets for captive consumption. Estimated to cost USD 44.8 million (about Rs 1800 million), the project involves relocation of the firm's newly acquired pipe plant in Romania to India.