Maharashtra Seamless Q2 PAT falls 43% YoY to Rs 125 cr; revenue declines 11% amid weak demand

Maharashtra Seamless posted a subdued Q2 FY26 performance, impacted by weaker demand conditions and lower realizations across key product categories.

On a consolidated basis, the company?s net profit declined 43.1% to Rs 125.23 crore on a 10.7% fall in total revenue to Rs 1,234.43 crore in Q2 FY26 over Q2 FY25. Profit before tax tumbled 42.0% year-on-year to Rs 169.14 crore in the quarter ended September 2025.

Total expenses fell 2.3% YoY to Rs 1,061.62 crore during the quarter. Employee benefits expense rose 9% to Rs 33.31 crore, while other expenses slipped 7% to Rs 219.31 crore compared with the same period last year, reflecting controlled cost measures.

Maharashtra Seamless manufactures carbon and alloy steel seamless pipes, ERW (electrical resistance welding) steel, and casting pipes. The company also owns a windmill.

Shares of Maharashtra Seamless declined 1.23% to settle at Rs 573.40 on the BSE.

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