NSEI:MAHSEAMLES

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Executive Summary

Maharashtra Seamless Limited manufactures and sells seamless steel pipes and tubes in India.


Snowflake Analysis

Adequate balance sheet and fair value.

Share Price & News

How has Maharashtra Seamless's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MAHSEAMLES's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.7%

MAHSEAMLES

8.4%

IN Metals and Mining

7.4%

IN Market


1 Year Return

-51.8%

MAHSEAMLES

-32.3%

IN Metals and Mining

-17.6%

IN Market

Return vs Industry: MAHSEAMLES underperformed the Indian Metals and Mining industry which returned -33.2% over the past year.

Return vs Market: MAHSEAMLES underperformed the Indian Market which returned -19.9% over the past year.


Shareholder returns

MAHSEAMLESIndustryMarket
7 Day12.7%8.4%7.4%
30 Day-3.6%11.2%6.7%
90 Day-31.9%-13.3%-11.1%
1 Year-51.0%-51.8%-29.7%-32.3%-16.0%-17.6%
3 Year-34.8%-37.3%-26.9%-34.4%-5.4%-10.4%
5 Year22.3%12.8%10.7%-9.9%19.3%8.0%

Price Volatility Vs. Market

How volatile is Maharashtra Seamless's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Maharashtra Seamless undervalued compared to its fair value and its price relative to the market?

5.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MAHSEAMLES (₹214.75) is trading above our estimate of fair value (₹50.66)

Significantly Below Fair Value: MAHSEAMLES is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MAHSEAMLES is good value based on its PE Ratio (5.6x) compared to the Metals and Mining industry average (7.4x).

PE vs Market: MAHSEAMLES is good value based on its PE Ratio (5.6x) compared to the Indian market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MAHSEAMLES's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MAHSEAMLES is good value based on its PB Ratio (0.4x) compared to the IN Metals and Mining industry average (0.6x).


Next Steps

Future Growth

How is Maharashtra Seamless forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

20.4%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Maharashtra Seamless has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Maharashtra Seamless performed over the past 5 years?

26.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MAHSEAMLES has a large one-off loss of ₹2.0B impacting its December 31 2019 financial results.

Growing Profit Margin: MAHSEAMLES's current net profit margins (8.5%) are higher than last year (8%).


Past Earnings Growth Analysis

Earnings Trend: MAHSEAMLES's earnings have grown significantly by 26.1% per year over the past 5 years.

Accelerating Growth: MAHSEAMLES's earnings growth over the past year (12.9%) is below its 5-year average (26.1% per year).

Earnings vs Industry: MAHSEAMLES earnings growth over the past year (12.9%) exceeded the Metals and Mining industry -6.8%.


Return on Equity

High ROE: MAHSEAMLES's Return on Equity (6.9%) is considered low.


Next Steps

Financial Health

How is Maharashtra Seamless's financial position?


Financial Position Analysis

Short Term Liabilities: MAHSEAMLES's short term assets (₹22.2B) exceed its short term liabilities (₹4.3B).

Long Term Liabilities: MAHSEAMLES's short term assets (₹22.2B) exceed its long term liabilities (₹8.6B).


Debt to Equity History and Analysis

Debt Level: MAHSEAMLES's debt to equity ratio (23.5%) is considered satisfactory.

Reducing Debt: MAHSEAMLES's debt to equity ratio has increased from 21.4% to 23.5% over the past 5 years.

Debt Coverage: MAHSEAMLES's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: MAHSEAMLES's interest payments on its debt are well covered by EBIT (27.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Maharashtra Seamless's current dividend yield, its reliability and sustainability?

2.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MAHSEAMLES's dividend (2.79%) is higher than the bottom 25% of dividend payers in the Indian market (0.83%).

High Dividend: MAHSEAMLES's dividend (2.79%) is low compared to the top 25% of dividend payers in the Indian market (3.47%).


Stability and Growth of Payments

Stable Dividend: MAHSEAMLES's dividend payments have been volatile in the past 10 years.

Growing Dividend: MAHSEAMLES's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (15.6%), MAHSEAMLES's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure


CEO

Saket Jindal (44yo)

5.17yrs

Tenure

₹25,561,200

Compensation

Mr. Saket Jindal, BBA serves as the Managing Director of Maharashtra Seamless Limited since April 1, 2015. Mr. Jindal serves as the Managing Director of Kailash Maharashtra Seamless Ltd. He has been Additi ...


CEO Compensation Analysis

Compensation vs Market: Saket's total compensation ($USD338.30K) is about average for companies of similar size in the Indian market ($USD330.71K).

Compensation vs Earnings: Saket's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Saket Jindal
MD & Director5.17yrs₹25.56m3.32% 477.5m
Dinesh Gupta
VP, Company Secretary & Compliance Officer10.5yrs₹2.63m0.00016% 23.0k
Shiv Singhal
Whole-Time Director3.42yrs₹5.00m0.0021% 301.0k
Sanjiv Gupta
Chief Financial Officer1.08yrsno datano data
Ambika Sahai
Chief Commercial Headno datano datano data

5.2yrs

Average Tenure

Experienced Management: MAHSEAMLES's management team is seasoned and experienced (5.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Saket Jindal
MD & Director5.17yrs₹25.56m3.32% 477.5m
Shiv Singhal
Whole-Time Director3.42yrs₹5.00m0.0021% 301.0k
Pattamadai Natraja Vijay
Independent Non-Executive Director6.83yrs₹310.00kno data
Dharam Jindal
Non-Executive Chairman5.17yrs₹31.56m1.33% 192.0m
Ashok Bhandari
Independent Director1.33yrsno data0.0075% 1.1m
S. Raj
Non-Executive Director14.67yrs₹250.00kno data
Sanjeev Ajay Rungta
Independent Non-Executive Director8.83yrs₹130.00kno data
Roma Kumar
Independent Non-Executive Director5.83yrs₹260.00kno data

6.3yrs

Average Tenure

65yo

Average Age

Experienced Board: MAHSEAMLES's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MAHSEAMLES insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Maharashtra Seamless Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Maharashtra Seamless Limited
  • Ticker: MAHSEAMLES
  • Exchange: NSEI
  • Founded: 1988
  • Industry: Steel
  • Sector: Materials
  • Market Cap: ₹14.402b
  • Shares outstanding: 67.00m
  • Website: https://www.jindal.com/msl

Location

  • Maharashtra Seamless Limited
  • 5, Pusa Road
  • 2nd Floor
  • New Delhi
  • Delhi
  • 110005
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
500265BSE (Mumbai Stock Exchange)YesEquity SharesININRJun 1996
MAHSEAMLESNSEI (National Stock Exchange of India)YesEquity SharesININRJun 1996

Biography

Maharashtra Seamless Limited manufactures and sells seamless steel pipes and tubes in India. It operates in two segments, Steel Pipes & Tubes, and Power – Electricity. The company offers mild steel and galvanized pipes, API line pipes, oil country tubular goods (OCTG) pipes, and OTCG casing and tubing products; and hot finished pipes and tubes, cold drawn and boiler tubes, and OCTG drill pipes. It also provides coated pipes, including external 3 layer polyethylene coated pipes; fusion bonded epoxy coated pipes; 3 layer polypropylene coated pipes; and internal epoxy coating pipes, as well as connections and pipe fittings. The company’s products are used in the oil and gas, hydro carbon process, bearing industry, automotive, boiler, heat exchanger, plumbing and firefighting, structural, general engineering, railways, sewage and water well, and hydraulic cylinder sectors. In addition, it operates a 7 MW wind power project in Satara District, Maharashtra. The company was incorporated in 1988 and is headquartered in New Delhi, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/02 13:14
End of Day Share Price2020/06/02 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.