Q1 2025 Maharashtra Seamless Ltd Earnings Call Transcript
Key Points
- The company's treasury improved significantly, reaching INR2,203 crore as of June 30, 2024, and generated substantial returns.
- The order book increased from INR1,754 crore to INR1,812 crore, indicating a strong demand environment.
- No ICDs to unrelated entities or corporate guarantees are outstanding, resolving a major concern from previous years.
- Dividend for FY24 was quadrupled compared to FY22, showing a commitment to shareholder returns.
- The seamless pipe market remains buoyant, driven by strong demand in the capital goods and oil and gas sectors.
- EBITDA fell by 54% to INR126 crore, and EPS fell by 40%, indicating a significant decline in profitability.
- Sales realization fell due to increased competition, lower raw material prices, and dumping from Chinese manufacturers.
- A preventive maintenance shutdown in one of the mills led to a production loss of around 15,000 tonnes.
- High-value orders were not dispatched due to the shutdown, leading to an inventory markdown and impacting earnings.
- Exports have been slow for more than a year, with no significant revival in key markets like the US and Canada.
Ladies and gentlemen, good day, and welcome to the Maharashtra Seamless Limited Q1 FY25 earnings conference call hosted by PhillipCapital India Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Vikash Singh from PhillipCapital India Private Limited. Thank you. And over to you, Mr. Singh.
Good afternoon, everyone, and welcome to Maharashtra Seamless 1Q FY25 con call. From management side, we have with us Mr. Kaushal Bengani, Deputy General Manager, Investor Relationship and finance. Without taking much time, I will give the dais to Kaushal for his opening remarks. Kaushal, over to you.
Thank you, Vikash. Good afternoon, shareholders and thank you for joining our earnings call. In Q1 FY25, whilst dispatches were slightly lower than previous quarter, our earnings was significantly impacted, both
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