Maharashtra Seamless rose 1.50% to Rs 670.70 after the company announced that it has received an order valued at approximately Rs 298 crore for the supply of seamless pipes in the oil and gas sector.
According to an exchange filing, the said order, awarded by a domestic entity, will be executed through gradual dispatches over the next few quarters based on customer requirements.The company clarified that the contract does not fall under related party transactions, and the promoter group has no interest in the awarding entity.
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.
The companys consolidated net profit fell 32.6% to Rs 186.07 crore in Q3 FY25 as against Rs 275.95 crore in Q3 FY24. Revenue from operations shed 1.6% to Rs 1,408.11 crore posted in the quarter ended 31 December 2024.
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