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Maharashtra Seamless Ltd.

BSE: 500265 Sector: Metals & Mining
NSE: MAHSEAMLES ISIN Code: INE271B01025
BSE 00:00 | 05 Aug 314.30 -0.30
(-0.10%)
OPEN

316.45

HIGH

319.60

LOW

313.20

NSE 00:00 | 05 Aug 313.95 -0.75
(-0.24%)
OPEN

314.70

HIGH

319.85

LOW

312.05

OPEN 316.45
PREVIOUS CLOSE 314.60
VOLUME 4385
52-Week high 349.95
52-Week low 194.00
P/E 7.47
Mkt Cap.(Rs cr) 2,106
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 316.45
CLOSE 314.60
VOLUME 4385
52-Week high 349.95
52-Week low 194.00
P/E 7.47
Mkt Cap.(Rs cr) 2,106
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Maharashtra Seamless Ltd. (MAHSEAMLES) - Chairman Speech

Company chairman speech

Dear Shareholders

Last few months have seen the world undergone unbelievabletransformation. We have witnessed unprecedented challenge as the world came to a grindinghalt and the basic existence of humankind came under severe threat due to Covid 19. Gloomand doom overtook the entire globe leaving very little hope in each one of us. But we havefought back and every passing day promises a brighter tomorrow rekindling optimism onceagain.

As a nation we did an incredible job in the face of this adversity.Dynamic and bold leadership of the honourable Prime Minister motivated each one of us tofight back with social distancing wearing masks and washing hands. Once again theexemplary courage and sacrifice displayed by fellow countrymen marked the true Indianspirit. We should all be proud of ourselves and make sure that we do not lower our guardas the threat of Covid 19 still looms over our heads.

As a socially responsible citizen of this great nation your companypro-actively dedicated itself to the cause of social welfare during these difficult times.During the lockdown the company ensured that all nearby villages were kept safe andhealthy. Free ration masks sanitizers and other necessities were distributed to each andevery household in surrounding villages. This ensured that these poor villagers couldcomply with lockdown and be protected from this deadly virus. Our employees donated ' 2Crore towards PMCARE Fund. Free COVID wards were created in your company's hospitalto give medical care to those infected. Your company will continue to fulfil its promiseto all stakeholders by way of full compliance with all the health safety guidelines issuedby GOI and WHO.

The company is returning to its normal operations gradually since thelifting of the lockdown. The goal during this period was to strike the right balancebetween the welfare of our employees and interest of our shareholders.

I am glad to share the news that we were able to deliver a reasonablyhealthy quarter both in terms of financial performance as well as safety of our employees.We are proud that the company demonstrated versatility and innovative thinking therebyensuring a quick recommencement of business in the face of such uncertain times. Adoptinglatest technology tools ensured that the customers were kept informed at all times and allpossible measures were taken to fulfil our marketing commitments to the extent possibleduring a very challenging environment.

Your company is now well on course to carry on the strong performanceof the past as it marches ahead with cautious optimism. We are hopeful that variouseconomic measures announced by the honourable Prime Minister and Finance Minister underthe “Atma Nirbhar” mission will contribute significantly to your company'sbright future. We foresee a strong return of momentum in infrastructure and energy sectorwhich will be directly beneficial to your company. We have completed the acquisition ofUnited Seamless Tubular Limited and a dedicated team is working to start trial productionsoon. This acquisition will broaden the product mix and add some more value addedproducts. The acquisition will be accretive to the earnings of the company.

We continue to focus on strengthening our core business of pipes alongwith further growth in our renewable energy vertical. Your company now has in excess of 70MW of renewable energy capacity including solar and wind which has contributedsignificantly in lowering our power cost. We believe that clean energy is an obligation ofeach one of us towards Mother Earth and we will continue to reduce our carbon foot printvigorously.

Your company shall continue to work tirelessly in the interest of itsshareholders customers vendors banks employees and all other stakeholders. I wouldlike to thank each one of you for your continuous faith in the company and wish that weall emerge from this adversity much stronger and resilient. I would like to speciallythank our shareholders who have supported us in all our endeavours to build a company thateach one of us should be proud of.

Thank you

D. P Jindal

.