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Maharashtra Seamless Ltd

NSE: MAHSEAMLES BSE: 500265

560.15

(-0.57%)

Wed, 08 Apr 2026, 09:25 pm

Maharashtra Seamless Analysis

dividend

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Pros

  • Dividends paid are well covered by earnings (6.4x coverage).
  • Maharashtra Seamless's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.76%).
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Cons

  • No dividend growth in 10 years.
  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Maharashtra Seamless's dividend is below the markets top 25% of dividend payers in India (3.08%).

health

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Pros

  • Maharashtra Seamless is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Maharashtra Seamless is profitable, therefore cash runway is not a concern.
  • Maharashtra Seamless is profitable, therefore cash runway is not a concern.
  • Debt is covered by short term assets, assets are 2.9x debt.
  • Maharashtra Seamless's cash and other short term assets cover its long term commitments.
  • Interest payments on debt are well covered by earnings (EBIT is 27.9x coverage).
  • Maharashtra Seamless's level of debt (23.5%) compared to net worth is satisfactory (less than 40%).
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Cons

  • Operating cash flow is negative therefore debt is not well covered.
  • The level of debt compared to net worth has increased over the past 5 years (21.4% vs 23.5% today).
  • High level of physical assets or inventory.

management

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Pros

  • The tenure for the Maharashtra Seamless board of directors is about average.
  • Saket's remuneration is about average for companies of similar size in India.
  • The average tenure for the Maharashtra Seamless management team is over 5 years, this suggests they are a seasoned and experienced team.
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Cons

  • Saket's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.

misc

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Pros

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    Cons

    • Maharashtra Seamless is not covered by any analysts.
    • Maharashtra Seamless has significant price volatility in the past 3 months.

    past

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    Pros

    • Maharashtra Seamless has delivered over 20% year on year earnings growth in the past 5 years.
    • Maharashtra Seamless has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
    • Maharashtra Seamless's earnings growth has exceeded the IN Metals and Mining industry average in the past year (12.9% vs -4.8%).
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    Cons

    • Maharashtra Seamless's 1-year earnings growth is less than its 5-year average (12.9% vs 26.1%)
    • Maharashtra Seamless used its assets less efficiently than the IN Metals and Mining industry average last year based on Return on Assets.
    • Maharashtra Seamless has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).

    value

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    Pros

    • Maharashtra Seamless is good value based on assets compared to the IN Metals and Mining industry average.
    • Maharashtra Seamless is good value based on earnings compared to the IN Metals and Mining industry average.
    • Maharashtra Seamless is good value based on earnings compared to the India market.
    • NSEI:MAHSEAMLES is up 8.7% outperforming the Metals and Mining industry which returned 7.5% over the past month.
    • NSEI:MAHSEAMLES is up 8.7% along with the India market (8%) over the past month.
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    Cons

    • Maharashtra Seamless's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).
    • Maharashtra Seamless's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).
    • MAHSEAMLES underperformed the Metals and Mining industry which returned -28.6% over the past year.
    • MAHSEAMLES underperformed the Market in India which returned -14.5% over the past year.

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