Maharashtra Seamless spurts after order win

Maharashtra Seamless gained 1.49% to Rs 371.20 after the company bagged a Rs 237 crore order from Oil and Natural Gas Corporation.

The scope of the order is to supply seamless casings pipes. The announcement was made during market hours today, 8 October 2021.

Maharashtra Seamless manufactures carbon and alloy steel seamless pipes, ERW (Electrical Resistance Welding) steel and castings pipes. The company also owns a wind power mill.

On a consolidated basis, the company posted a 113.7% rise in net profit to Rs 96.16 crore on a 50.4% increase in net sales to Rs 690.48 crore in Q1 FY22 over Q1 FY21.

 

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