Maharashtra Seamless shares gain 5% after Q4 results; cash on books lends support

Shares of Maharashtra Seamless Ltd gained nearly 5% on Tuesday, May 27 after the company reported a stable set of earnings for the fourth quarter after market hours on Monday.

The company's revenue during the March quarter went up by 17% from last year to ₹1,417 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) went up by 3% year-on-year to ₹283.9 crore.

EBITDA margin for the period narrowed to 20% from 22.66% during the same quarter last year, but saw a marginal expansion from the December quarter figure of 19.87%. A 32% jump in the company's other expenses weighed on the margins.

Net profit for the period went up by 11% from the year-ago quarter to ₹242 crore, despite a 9% drop in other income. The profitability was also aided by a lower tax rate.

However, the order book of the company, which stood at ₹1,584 crore as of May 20, 2025, provides visibility only for one more quarter. Out of the total order book, ONGC and Oil India orders are worth ₹512 crore, while the rest are from other entities.

What could provide some support for the stock is the cash on the company's books. As of March 31, Maharashtra Seamless had cash worth ₹2,630, which is 29% of the company's overall market capitalisation, which stood at ₹9,289 crore as of Monday' closing.

Promoters hold 68.86% stake in the company at the end of the fourth quarter of the financial year 2025.

Shares of Maharashtra Seamless Ltd gained 4.7% to hit an intraday high of ₹726 per share. The stock has declined 5.2% this year, so far.

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