Maharashtra Seamless said that it has received its first order of subsea sour service seamless pipes from an esteemed customer with basic value of approximately Rs 130 crore.
The company has displayed its technical expertise by successfully developing subsea sour service seamless pipes in-house in its continuous efforts to provide import substitution products and enhance margins.
Subsea sour service seamless pipes are high value addition pipes and are used for subsea transportation of crude oil and gas in high pressure environments. Capacities for these pipes have been developed for the first time in India keeping in view the government's policy of Aatmanirbhar Bharat.
Maharashtra Seamless (MSL) manufactures seamless pipes & tubes with the finest quality and wide product range using the world renowned CPE technology. MSL made a foray in the ERW pipe category and also started coated facility. The Company has also diversified into renewable power generation and rig operations.
On consolidated basis, pipes & tubes manufacturer reported a net profit of Rs 98.81 crore as against a net loss of Rs 57.54 crore. Net Sales jumped 100% year on year to Rs 1418.99 crore in the quarter ended 31 March 2022.
Shares of Maharashtra Seamless advanced 0.77% at Rs 671.45 on the BSE.
In the past one year, the stock has zoomed 107.49% while the benchmark Sensex has gained 1.13% during the same period.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app