Interim report
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7 MAHARASHTRA SEAMLESS LIMITED INTERIM CORPORATE OFFICE : Plot No.106, institutional Sector-44, Gurgaon-122 002 Haryana (India) Phone No. : 91-124-4624000, 2574326, 2574325, 2574728 Fax : 91-124-2574327 E-mail : contact@mahaseam.com Website : www.jindal.com CIN No: L99999MH1988PLC080545 CORPORATE OFFICE : Plot No. 30, Institutional Sector-44, Gurgaon-122 002 Haryana (India) E-Communication MSL/SEC/SE/2025-26 4th November, 2025 BSE Limited National Stock Exchange of India Limited 25" Floor, P.J. Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Mumbai-400001 Bandra - Kurla Complex Bandra (E), Mumbai-400051 Stock Code: 500265 Scrip Code: MAHSEAMLES Sub: Compliances under SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 Re: Outcome of Board Meeting held on 4th November, 2025 Dear Sir/Madam, Pursuant to applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, we wish to inform you that the Board of Directors of the Company at its meeting held on today i.e. 4th November, 2025, inter-alia, has considered and approved the Un-audited consolidated and standalone financial results for the quarter and half year ended 30th September, 2025. A copy of duly signed Un-audited financial results along with limited review report thereon issued by M/s Kanodia Sanyal & Associates, Statutory Auditors of the Company, are enclosed. The meeting of the Board of Directors commenced at 03:00 P.M. and concluded at 04:05 P.M. You are requested to kindly take the same on record. Thanking you, For Maharashtra Seamless Limited Ram Ji Nigam Company Secretary Encl.- As stated above REGD. OFF. & WORKS Pipe Nagar, Village, Sukeli, N.H.17, B.K.G. Road, Taluka-Roha, Distt. Raigad-402 126 (Maharashtra) Phone : 02194-238511, 238512, 238567, 238569 * Fax : 02194-238513 MUMBAI OFFICE : 402, Sarjan Plazo, 100 Dr, Annic Besant Road, Opp. Telco Showroom, Vvorli, Murmbai-400 016 Phones : 022-2490 2570 /72 /74@ Fax : 022-2492 5473 HEAD OFFICE : 5, Pusa Road, 2nd Floor, New Delhi-110005 Phones : 011-28752862, 28756631 Email jpidelhi@bol.net.in KOLKATA OFFICE : Sukhsagar Apartment, Flat No. 6A, &th Floor, 2/5, Sarat Bose Road, Kolkata - 700 020 Phone ; 033-2455 9982, 2454 0053, 2454 0056 ® Fax : 033 - 2474 2290 E-mail : ms!i@cal.vsni.net.in CHENNAI OFFICE : 3A, Royal Court. 41, Venkatnarayana Road, T. Nagar Chennai-600017 Phone : 044-2434 2231* Fax : 044-2434 7990
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‘Kanodia Sanyal & Associates Ox CHARTERED ACCOUNTANTS INDIA Independent Auditor’s Review Report on the Quarterly and Year to date Unaudited Standalone Financial Results of the Company Pursuant to the regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended To the Board of Directors Maharashtra Seamless Limited 1. We have reviewed the accompanying statement of Standalone unaudited financial results (Statement) of M/s MAHARASHTRA SEAMLESS LIMITED, (“the Company”) for the quarter ended 30.09.2025 and Year to date from April 1, 2025 to September 30 2025 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, read with SEBI Circular No. CIR/CFD/CMD1/80/2019 dated July 19, 2019(‘the Circular’). 2. This Statement which is the responsibility of the Company’s Management and has been approved by the Board of Directors, has been preparéd in accordance with the recognition and measurement principals laid down in the Indian Accounting Standard 34 “ Interim Financial Reporting “ (Ind AS 34), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the circular is the responsibility of the Company’s management and has been approved by the Board of Directors of the Company. Our responsibility is to issue a report on these financial statements based on our review. 3. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Engagements to “Review of Interim Financial information performed by the Independent Auditor of the Entity” Statements issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and an analytical procedure applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion, 4. Based on our review conducted procedures performed as state above para 3 as stated above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with the recognition and measurement principles laid down in the applicable Accounting Standards i.e. Indian Accounting Standards(“ Ind AS”) specified under section 133 of the Companies Act,2013 as amended , fead with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Kanodia Sanyal & Associates Chartered Accountants FR (Rajendra ki Partner Membership Number 016121 UDIN: 250\6\2\BMOTLQ235 68 Place: New Delhi Date: 04'" November 2025 1520, Ansal Tower, 38, Nehru Place, New Delhi - 110 019 (INDIA) Tel. : +91-11-26452344, 26467214, 41000897, E-mail - admin@ksaadvisors.org
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MAHARASHTRA SEAMLESS LIMITED (D.P. JINDAL GROUP COMPANY )} Registered Office: Pipe Nagar, Village Sukeli, NH 17, BKG Road, Taluka Roha, Distt. Raigad-402 126 (Maharashtra) Tel. No. 02194-238511: Email: Secretarial@mahaseam.com, Website:www.jindal.com Corporate Office: Plot No. 30, Institutional Sector - 44, Gurugram - 122 003 (Haryana) Interim Corporate Office: Plot No.106, Institutional Sector-44, Gurugram-122 003 (Haryana) CIN - L99999MH1988PLCO080545 UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER & HALF YEAR ENDED 30TH SEPTEMBER 2025 (Rs. in Crores, except per share data) Sl. Particulars Quarter Ended Half Year Ended Year Ended Audited No. 30-Sep-25 | 30-Jun-25 | 30-Sep-24 | 30-Sep-25 | 30-Sep-24 | 31-Mar-25 1 Revenue from operations a. Sales / Income from Operations 4,158.50} 1,142.86] 1,291,25] 2,301.36) 2,442.10 5,265.90 b. Other Operating Income * we = i “i = Total Income from Operations 1,158.50] 1,142.86] 1,291.25] 2,301.36] 2,442.10 5,265.90 2 Other Income 757A 159.71 9.74 745.44 1595.45 197 24 3 Total Revenue (1+2) 1,234.23 1,302.57 1,381.99 | 2,536.80 | 2,597.55 5,463.14 4 Expenses a. Cost of materials consumed 710.30 796,73 785,07 | 1,507.03} 1,574.31 3,285.94 b, Purchase of Stock in trade x = = = - - c. Change of inventories of finished goods, work in progress and stock in trade 73.03 (80.97) 9.37 (7.94) 14.49 30.31 d. Employees benefits expenses 32.97 32,02 30,20 64,99 60,34 121,54 #. Finance Costs 0.42 0.48 0.84 0.90 171 2.99 f. Depreciation and amor tisulion experises 25.08 24,85 25.06 49,93 49.96 100.48 g. Other Expenses 218.91 226,25 235.60 445.16 436.01 906.12 Total Expenses 1,060.71 999.36] 1,086.14} 2,060.07] 2,136.82 4,447.38 5 Profit before exceptional Items & Tax (3-4) 173.52 303.21 295.85 476.73 460.73 1,015.76 A Frceptional Items . . . . * 7 Profit before Tax (5-6) 173.52 303.21 295.85 476.73 460.73 1,015.76 8 Tax Expenses Current Tax 31.31 47,26 64.62 78.57 99.45 224.30 Deferred Tax . 12.60 22.09 7,03 34,69 1,13 3.69 Adjustment Relating to Eartier Years = - - = - (5.08) Total Tax Expenses 43,91 69.35 71,65 113.26 100.58 222.91 5 Net Profit after tax (7-8) 129.61 233.86 224.20 363.47 360.15 792.85 10 Other Comprehensive Income Other Comprehensive income not to be reclassified to profit/(loss) in subsequent years Remeasurement of defined Benefit Plans (Net Of Tax) 0.06 0.05 0.01 0.11 0.03 0.22 11 Total Comprehensive Income (Net of Tax) (9+10) 128.67 233.91 224,21 363,58 360,18 793.07 12 Paid up Equity Share Capital (Face Value of Rs. 5/- each) 67,00 67,00 67.00 67.00 67.00 67.00 13 Earning per Share (EPS) - Basic/Diluted Earning Per Share Not Annualised {Rs.) 9.67 17.45 16.73 27.12 26.88 59.17 14 Other Equity 6,205.92 ——E
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Statement Of Assets and Liabilities Particulars As At 30-Sep-25| 31-Mar-25 Assets 1. Non - Current Assets {a) Property, Plant and Equipment (b) Capital work in progress (c) Financial Assets (i) Investments (ii) Loans (iii) Other Financial Assets (d) Other Non - Current Assets 2. Current Assets (a) Inventories (b) Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash & Cash Equivalents {iv) Bank Balance other than iii above (v) Other Financial Assets (c) Current Tax Assets (Net) (d) Other Current Assets Total Assets 1,813.31] 1,859.28 42,22 9.94 618.37 633,74 7.56 5.12 10.83 7.65 16.91 17.12 2,509.20] 2,532.85 1,258.62] 1,339.01 2,716.88] 2,202.61 545.02 658.00 33.31 38.71 2.66 2.13 29.62 37.53 72,30 82.42 86.69 65,95 4,745.10] 4,426.36 7,254.30| 6,959.21 Particufars As At 30-Sep-25] 31-Mar-25 Equity And Llabllitles Equity (a) Equity Share Capital (b) Other Equity Liabilities 1. Non Current Llabilitles (a) Financial Liabllities {i} Borrowings (li) Other Financial Liabllities (b) Deferred Revenue (‘c) Deferred Tax Liabilities (Net) 2. Current Liabllitles (a) Financial Liabilities (i} Trade Payables (a) Total outstanding dues of micro & small enterprises (b) Total outstanding dues other than micro & small enterprises (ii) Other Financial Liabilities (b) Other Current Liabilities (c) Provisions Total Equity and Liabilitles 67.00 67.00 6,435.50| 6,205.92 6,502.50] 6,272.92 9.90 0.10 3.21 3.26 48.81 50.93 396.97 362.24 458.89 416.53 5.59 5.02 171.73 146,48 1.31 2,13 $0.02 58.21 64.26 57.92 292.91 269.76 7,254.30) 6,959.21
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Statement of Standalone Cash Flow Particulars __Half YearEnded __ 30-Sep-25| 30-Sep-24 A. Cash Flow from Operating Activities Profit Before Tax including other comprehensive income (not to be 476.84 460.76 reclassified) as per Statement of Profit and Loss Adjustments for: Depreciation and Amortisation 49,93 49.96 (Profit}/Loss on Sale / Write off of Fixed Assets (Net) (0.01) . Finance Costs 0.90 1.71 Net Gain on Sale of Investments (200.24) (104,12) Interest Income (23,27) (38.81) Dividend Income - (0.13) Rental Income (0.27) (0.26) Cash Flow from Operating Activities before Working Capital Changes 303.88 369.14 Changes in Working Capital: Adjustments for (Increase) / Decrease in Operating Assets: Inventories 80.39 310.64 Trade Receivables and Other Receivables 95.84 (167.98) Adjustments for increase / (Decrease) in Operating Liabilities: Trade Payables and Other Liabilities 23.68 25.45 Cash Flow from Operating Activities after Working Capital Changes 503.79 537.22 Net Income Tax (Paid) / Refunds (68.45) 7.39 Net Cosh Flow from / (uscd in) Operating Activities (A) 435.34 544.61 B. Cash Flow from Investing Activities Capital Expenditure on Property, Plant and Equipment (36.45) (5.78) Proceeds from Sale of Property, Plant and Equipment 0.22 * Non Current Loans and Advances (Net) (2.58) (1.30) Current Investments - Purchased (1,695.29)| (2,244.95) - Proceeds from Sale 1,206.56) 1,831.65 Purchase of Non Current Investments - Others - {60.11} Proceeds from Sale of Non Current Investment - Others 190.20 41.00 Interest Income 20.90 30.87 Dividend Received 0.13 Rent Income 0.27 0.26 Net Cash Flow from / (used in) Investing Activities (B) (316.17)} (408.23) C. Cash Flow from Financing Activities Proceeds / (Repayment) of Long - Term Borrowings 9.80 - Finance Costs (0.50) (1.71) Dividend Paid (133.47)| (133.27) Net Cash Flow from / {used in) Financing Activities (C) (124.57)| (134.98) Net Increase / (Decrease) in Cash and Cash Equivalents (A+B+C) (5.40) 1.40 Cash and Cash Equivalents at the Beginning of the Year 38.71 53.56 Cash and Cash Equivalents at the End of the Perlod 33.31 54.96 ea a Ls a! i Wa ! ie Le i 4 Is! r&
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SEGMENT REVENUE, RESULTS & CAPITAL EMPLOYED Particulars Quarter Ended Half Year Ended Year Ended 30-Sep-25| 30-Jun-25] 30-Sep-24) 30-Sep-25] 30-Sep-24] 31-Mar-25 Audited 1 Segment Revenue a. Steel Pipes & Tubes 1,152.27) 1,126.44 1,267.21] 2,278.71) = 2,392.87 5,167.62 b. Power - Electricity 19,42 20,84 18.79 40.26 39.44 78.01 c. Rig - 9.06 17,73 9.06 35.19 70.69 d. Others /Unallocated 75.73 159.71 90.74 235.44 155.45 197.24 Total Income 1,247.42} 1,316.05) 1,394.47) 2,563.47 2,622.95 5,513.56 Less: Inter segment revenue 13.19 13.48 12.48 26.67 25.40 50.42 1,234.23) 1,302.57} 1,381.99} 2,536.80) 2,597.55 5,463.14 2 Segment Results : Profit before tax and interest (EBIT) from each Segment a. Steel Pipes & Tubes 91.74 129.09 186.83 220.83 267,90 743.87 b. Power - Electricity 13.15 14.50 13.26 28.05 27.58 54.53 c. Rig (6.68) (0.01) 5.86 (6.69) 11.51 23.11 d. Others /Unallocated 75.73 159.71 90.74 235.44 155.45 197.24 Total 173.94 303.69 296.69 477.63 462.44 1,018.75 Less: i) Interest & Financial Charges 0.42 0.48 0.84 0.90 1.71 2.99 Total Profit Before Tax 173.52 303.21 295.85 476.73 460.73 1,015.76 3 Seprrivdil ASSELS a. Steel Pipes & Tubes 2,937.53] 3,183.72} 3,138.86] 2,937.53) 3,138.86 3,116.02 b. Power - Electricity 243.36 246.35 255.35 243.36 255.35 250.92 c, Rig 629.64 628.48 660.90 629,64 660.90 632.53 d. Others /Unallocated 3,443.77] 3,283.33] 2,659.76] 3,443.77] 2,659.76 2,959.74 Totall 7,254.30] 7,341.88] 6,714.87| 7,254.30| 6,714.87] _ 6,959.21 4 Segment Liabilities a. Steel Pipes & Tubes 337.17 401,82 $13.81 337,17 $13.81 321.79 b. Power - Electricity 1.57 1.58 1.32 1.57 1.32 2.01 c. Rig 16.10 0.05 0.10 16.10 0.10 0.26 d. Others /Unallocated 396.96 431,60 359.60 356.96 359.60 362.23 Total 751.80 835.05 874.83 751.80 874.83 686.29 Notes: 1. |The above financial results were reviewed by the Audit Committee and approved by the Seard of Directors at their meeting held on 4th November 2025 and have undergone ‘Limited Review' by Statutory Auditors of the Company. 2 |Tax Liability/ Provision written off is based upon the estimated tax computation for the whole year and excess/short provision will be adjusted in the last quai ler. 3 ‘|Figures for the previous periods have been re-grouped / rearranged / recast to make them comparable with the figures of the current period. For Maharashtra Seamless Limited cw e Sofpel Ji ds. Saket JIndal Place : New Delhi Managing Director Date : 4th November, 2025 BIN:00405736
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Kanodia Sanyal & Associates Or CHARTERED ACCOUNTANTS INDIA Independent Auditor’s Review Report _on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended To The Board of Directors Maharashtra Seamless Limited 1. We have reviewed the accompanying statement of unaudited Consolidated financial results of MAHARASHTRA SEAMLESS LIMITED, (“the Parent”) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) and its share of the profit after tax and total comprehensive income of its joint ventures and associates for the quarter ended 30.09.2025 and Year to date from April 1, 2025 to September 30, 2025 (“the statement”) attached herewith, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular No. CIR/CFD/CMD1/80/2019 dated July 19, 2019(‘the Circular’). 2. This Statement which is the responsibility of the Parent’s Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34” Interim Financial Reporting “(Ind AS 34), prescribed under Section 133 of the Companies Act,2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India read with Circular. Our responsibility is to express a conclusion on these financial statements based on our review, 3. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Engagements to “Review of Interim Financial information performed by the Independent Auditor of the Entity” Statements issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of India under regulation 33(8) of the Regulation, to extent applicable. 4. The Statement includes the results of the entities as mentioned below: SI. | Subsidiaries Joint Ventures Associates No. | Maharashtra Seamless (Singapore) | Dev Drilling Pte Ltd. Jindal Pipe (Singapore) Pte Pte. Ltd Ltd. II Maharashtra Seamless Finance Star Drilling Pte Ltd Limited ill Jindal Premium Connections Pvt Ltd IV Discovery Oil and Mines Pte Ltd. V Internovia Natural Resources FZ LLC VI | Zircon Drilling Supplies and Trading FZE 1520, Ansal Tower, 38, Nehru Place, New Delhi - 110 019 (INDIA) Tel. : +91-11-26452344, 26467214, 41000897, E-mail : admin@ksaadvisors.org
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Kanodia Sanyal e£ Associates CHARTERED ACCOUNTANTS Cx | INDIA 5. Based on our review conducted procedures performed as state above para 3 as stated above, nothing has come to our attention that causes us to believe that the accompanying statement read with notes therein, prepared in accordance with the recognition and measurement principles laid down in the afore-said Indian Accounting Standard and other accounting principles generally accepted in India , has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended , including the manner in which it is to be disclosed , or that it contains any material misstatement. 6. The consolidated unaudited financial results include the interim financial information of three subsidiaries located Outside India, which have not been reviewed by their respective auditors, whose interim financial information reflect total assets of Rs. 9.58 crores as at 30 September, 2025, total revenue of Rs. 0.04 crores and Rs. 2.32 crores for the quarter and six-month period ended on 30 September, 2025, total net profit/ (loss) after tax of Rs. (.074) crores and Rs. (0.12) crores for the quarter and six-month period ended on 30 September, 2025 respectively, total comprehensive income/ (loss) of Rs. 0.26 crores and Rs. 0.21 crores for the quarter and six-month period ended on 30 September, 2025 respectively and cash flows (net) of Rs. -2.21 crores for the period ended 30 September, 2025 as considered in the consolidated unaudited financial results. As per information given to us by the management of the reporting company’s JV namely Gondkhari Coal Mining Ltd has reported NIL profit/loss in their financial results for quarter ended 30 September, 2025. Hence, these consolidated quarter results of the Group do not include any financial information relating to its JV. The interim financial results of the said JV are not available for reviewed. According to information and explanations given to us by the Management, these interim financial results are not material to the Group. The consolidated unaudited financial results also include the Group’s share of net profit/ (loss) after tax of Rs. (3.67) crores and Rs. (6.86) crores for the quarter and six-month period ended on 30 September, 2025 respectively and total comprehensive income/ (loss) of Rs. (2.69) crores and Rs. (5.89) crores for the quarter and six-month period ended on 30 September, 2025 respectively as considered in the consolidated unaudited financial results, in respect of one joint venture and two associates, based on their interim financial information which have not been reviewed by their respective auditors. The financial information has been prepared in accordance with accounting principles generally accepted in their respective countries. Our conclusion on the statement is not modified in respect of the above matters. For Kanodia Sanyal & Associates Chartered Accountants Partner Place: New Delhi Membership Number: 016121 Date: 04" November, 2025 UDIN: 2501 6\2IBMOTLR3050 1520, Ansal Tower, 38, Nehru Place, N i . e , 38, , New Delhi - 110 019 Tel. : +91-11-26452344, 26467214, 41000897, E-mail - Sete Hadi ssc
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MAHARASHTRA SEAMLESS LIMITED (D.2,NDAL GKUUP LCUMPANY } Website:www.jindal.com Corporate Office: Plot No. 30, Institutional Sector - 44, Gurugram - 122 003 (Haryana) Interim Corporate Office: Plot No.106, Institutional Sector-44, Gurugram-122 G03 (Haryana) Registered Office: Pipe Nagar, Village Sukeli, NH 17, BKG Road, Taluka Roha,Distt. Raigad-402 126 (Maharashtra) Tel. No. 02194-238511: Emall: Secretarial@mahaseam.com, CIN -199999MH198aPLCog0545 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER & HALF YEAR ENOED 30TH SEPTEMBER 2025 (Rs. in Crores, except per Share data) sl. Particulars Quarter Ended Half Year Ended Year Ended Audited No. 30-Sep-25 30-Jun-25 20-Sep 24 30 Sep 25 30 Scp 24 31 Mar-25 1 Revenue from operations a. Sales / Income from Operations 1,158.67 1,145.27 1,291.81 2,303.94 2,442.79 5,268.67 b. Other Operating Income : . - = = - Total Income from Operations 1,158.67 1,145.27 “1,291.81 2,303.94 2,442.79 5,268.67 2 Other Income 75.76 159.76 90,73 235,52 455,53 197.22 3 Total Revenue (1+2) 1,234.43 1,305.03 1,382.54 2,539.46 2,998.32 5,465.89 4 Expenses a. Cost of materials consumed 710,35 799.02 785,07 1,509.37 1,574.31 3,287.01 b. Purchase of Stack In trade = = - . s é ¢. Lhange of inventories of tintshed goods, work In prorress and stock in trade 4,03 (40,4 /) Wal (4.94) 14.49 4,41 d. Employees benefits expenses 33.31 32.40 30.57 65.71 60.95 122.89 é, Finance Costs 0,43 0.48 0,81 0,91 1,74 2,76 f, Depreciation and amortisation expenses 25.19 24,96 25.24 50.15 50.25 100,92 g, Other Expenses 219,31 226.30 235.76 445.61 437.54 908,21 Total Expenses 1,061.62 1,002,19 1,086.82 2,063.81 2,139.28 4,452.10 5 Profil befuie Shate of Profit / (Loss) from Investment in Associales & Joint Ventures, 172.81 302.84 295,72 475.65 459.04 1,013.79 pyrentional Items & Tay (4-4) 6 Share of Profit / {Loss} from Investment in Associates & Joint Ventures (3.67) (3.19) (3.91) (6.86) (9.46) (13.59) 7 Exceptional Items - . = - “ g Profit before Tax (5+6-7) 169.14 299,65 291,81 468.79 449.58 1,000,20 9 Tax Expenses Current Tax 31.31 47,26 64.62 78.57 99.45 224,31 Deferred Tax 12.60 22.09 7.03 34,69 1.13 3.70 Provision Written Back due to amalgamation (Current Tax & Deferred Tax) = (5,13) Total Tax Expenses 43,91 69,35 71,65 113.26 100.58 222,88 10 Net Profit after tax (8-9) 125,23 230,30 220.16 355,53 349,00 777,32 11 Other Comprehensive income i, Ore Cumprelensive eure tu be reclassified te prufil/(luss) in subsequent yeats Fxchange Differences in Translating the financials statements of foreign oneratinns 156 (0.92) 0.21 1.54 0.26 1.25 ii, Other Comprehensive income not to be reclassified to profit/(lass) in subsequent years a, Remeasurement of defined Benefit Plans {Net Of Tax) 0.06 0.05 0.01 0.41 0.03 0,22 b. Falr Valuation of Equity Shares - + = = . (35.91) 0.06 0.05 0.01 0.11 u.u3 {35.69} Other Comprehensive Income for the Year (Net of Tax] (i+ii) 1.62 0.03 0,22 1.65 0.29 (34.44) 12 |Total Comprehensive Income {Net of Tax} (10+11) 126.85 230.33 220.38 357.18 349,29 742,88 Net Profit attribute to: ud. Ownuen uf the Company 118,26 180.82 226.08 955.58 510.95 F776 b. Non Controlling Interest (U,U3) (v.02) 0.08} (U.U5) (u,55) (0.14) Other Comprehensive Income attribule to: a, Owners of the Company 1,47 0.03 0.22) 1,50 0.29 (34.51) b. Non Controlling Interest 6.45 6.15 - 0.07 Total Comprehensive Income attribule to: a, Owners of the Company 126.73 230.35 220.30) 357.08 349.64 742.95 b. Non Controlling Interest 0.12 (0.02) 0.08 0.10 (0.35) (0.07) 13 Paid up Equity Share Capital (Face Value of Rs. 5/- each) 67,00 67,00 67,00 67.00 67.00 67,00 14 Earning per Share (EPS) - Basic/Diluted Earning Per Share Not Annualised (Rs.} 9.35 17.18 16.42 26.54 26.07 58.02 15 __|Other Equity 6,272.94
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Statement OF Assets and Liabilities As At Particulars 30-Sep-36 3Mar2e Assets 1. Non - Current Assets (a) Property, Plant and Equipment 1,816.57 1,862.30 (b} Capital work In progress 46.47 13.97 (c) Goodwill 1.25 1.25 (d) Financial Assets (I} Investments 668.43 689.83 {II) Loans 1.19 1,19 iii) Other Financlal Assets 12.85 9.49 (e) Other Non - Current Assets 20,25 20,46 2,567.01 2,598.49 2. Current Assets (a) Inventories 1,259.16 1,341.65 (b) Financial Assets (I} Investments 2,716.88 2,202.61 {li) Trade Receivables $42.33 653.49 (I) Cash & Cash Equivalents 34.30 41.82 (lv) Bank Balance other than Ill above 5,93 2.13 (v) Other Financial Assets 27.28 37,94 (c) Current Tax (Net) 72,38 82.48 (d) Other Current Assets 96.15 72.68 4,784.41 4,434.80) Total Assets 7,421.42 7,033.29 Particulars Ag At 30-Sep-25 31-Mar-25 Equlty And Liabilities Equity (a) Equity Share Capital 67.00 67.00 (b) Statutory Reserve 0.13 0.13 (c ) Other Equity 6,496.40 6,272,841 6,563.53 6,339.94 Liabilities 1. Non Current Liabilities (a) Financial Liabilities (i) Borrowings 9.99 0.10 (II) Trade Payables * 5.29 (Ul) Other Financial Liabilltles 3.21 3.26 {b) Provisions 0,19 0,19 (c) Deferred Revenue 54,10 50.94 (d) Deferred Tax Liabliltles (Net) 396,97 362,24 464,37 422.02 2. Current Liabllities (a) Financial Liabilitles (!) Trade Payables {a) Total outstanding dues of micro & small enterprises 5.59 5,04 {b) Total outstanding dues other than micro & smail enterprises 171.88 147.44 (li) Other Financial Liabilitles 1.35 2,13 (b) Other Current Liabllities 50.44 58.62 {c) Provisions 64.26 58.10 293.52 271.33 Total Equity and Liabilities 7,321.42 7,033.29
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Statement of Consolidated Cash Flaw Particulars A, Cash Flow from Operating Activities Profit Before Tax including other comprehensive income (not to be reclassified) as per Statement of Profit and Loss Adjustments for: Depreciation and Amortisation Share of (Profit) / Loss of JV & Associates Finance Costs Net Gain on Sale of Investments Interest Income Dividend Income Rental Income Cash Flow from Operating Activities before Working Capital Changes Changes in Working Capital: Adjustments for (increase) / Decrease in Operating Assets: Inventories Trade Receivables and Other Receivables Adjustments for increase / (Decrease) In Operating Liabliities: Trade Payables and Other Liabilities Cash Flow from Operating Activities after Working Capital Changes Net Income Tax {Paid} / Refunds Net Cash Flow from / (used in) Operating Activities (A) B. Cash Flow from Investing Activities Capital Expenditure on Proparty, Plant and Equipment Proceeds from Sale of Property, Plant and Equipment Current Investments - Purchased - Proceeds from Sale Non Current Investments Purchased - Others Proceeds from Sale of Non Current Investment - Others Interest Income Share Application Money Paid Dividend Received Rent Income Net Cash Flow from / (used In) Investing Actlvities (B) C. Cash Flow from Financing Activities Proceeds / (Repayment) of Long - Term Borrowings Finance Costs Dividend Paid Net Cash Flow from / {used In} Financing Activittes (C) Net Increase / (Decrease) In Cash and Cash Equivalents (A+B+C} Foreign Currency Translation Cash and Cash Equivalents at the Beginning of the Year Cash and Cash Equivalents at the End of the Year Yoar Ended 30-Sep-25 30-Sep-24 468,90 449.61 50.15 $0.25 6.86 9.46 0.91 1.74 (200,24) (104.12) (23.34) (38.89) . (0.13) (0.27) {0.26} 302.97 367.66 B2.58 310,71 90,95 (166,95) 22.56 27.73 499,06 539,15 (68.46) 7.37 430.60) 546.52 (36.68) (8,64) 0.23 = (1,695.29) (2,244.95) 1,206.56 1,831.65 - {60.14} 190,20 41.00 21.05 31.02 = 0.13 0.27 0.26 (313.66) (409.64) 9.80 = (0.91) {1.74] (133.47} (133.27) (124,58) (135.01) (7.64) 1,87 0.12 . 41.82 54.52 34.30 56.39) =~ antiedend ee
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SEGMENT REVENUE, RESULTS & CAPITAL EMPLOYED Particulars Quarter Ended Half Year Ended Year Ended | Audited 30-Sep-25 30-Jun-25 30-Sep-24 30-Sep-25 30-Sep-24 31-Mar-25 1 Segrnen| Revenue a, Steel Pipes & Tubes 1,152.27 1,126.44 1,267.21 2,278.71 2,392 87 5,167.62 b. Power - Electricity 19.42 20,84 18.79 40.26 39,44 78.01 e. Rig = 9.06 17.73 9.06 35,19 70.69 d. Others /Unallocated 75.93 162,17 91.29 238.10 156,22 199.99 Total Income 1,247.62 1,318,541 1,395.02 2,566.13 2,623.72 5,516 31 Lets: Inter segment revenue 13818 15.48 12.48 26.67 25,40 $0.42 1,234.43 1,305.03 1,382.54 2,539.46 2,598.32 5,465.89 2 [Segment Results : Profit before tax and interest (EBIT) from each Segment a, Steel Pipes & Tubes 91.74 129.09 186.83 220,83 267,90 743,87 b. Power - Electricity 13.15 14,90) 13.26 28.05 27.58 54,53 c. Rig (6.68) {0.01} 5.86 (6.69) 11.51 23.11 d. Others /Unallocated 75.03 159,34 90,58 234.37 | 153,79 195.04 Total 173.24 303,32 296,53 476,56 460,78 1,016.55 Less: i) Interest & Financial Charges 0.43 0.48 0,81 0.91 1.74 2.76 ii) Other Unallocable Expenditure - + S et = Total Profit Before Tax 172.81 302.84 295.72 475.65 459,04 1,013.79 2 fegment Assets ja. Steel Pipes & Tubes 2,937.53 3,183.72 3,138.86 2,937.53 3,138.86 3,116.02 b, Power - Electricity 243.36 246,35 255.35 243,36 255.35 250.92 c. Rig 629.64 628.48 660.90 629,64 660.90 632.53 d. Others /Unallocated 3,510,89 3,352.87 2,772.19 3,510.89 2,772.19 3,033.82 Total 7,321.42 7,411.42 6,827.30 7,321.42 6,827.30 7,033,29 4 |Seernent Liabilities a. Steel Pipes & Tubes 337.17 401.82 513.81 337.17 513.81 321.79 b. Power - Electricity 1.57 1.58 4.32 157 1.32 2.01 ce, Rig 16,10 0.05 0.10 16.10 0,10 0.26 d, Others /Unallocated 403,03 437,70 365.82 403.03 365.82 369.29 Total, 757.87 841.15 481.05 757.87 884,05 693.35 Notes: 1 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 4th November 2025 and have undergone ‘Limited Rewlew' by Statutory Auditors of the Company. 2 Tax Liability/ Provision written off is based upon the estimated tax computation for the whole year and excess/short provision will be adjusted in the last quarter. 3 Figures for the previous periods have been re-grouped / rearranged / recast to make them comparable with the figures of the current period For Maharashtra Seamless Limited Sebet J 4 Saket Jindal Place : New Delhi Managing Director Date : 4th November, 2025 DIM :O0405 7365