Maharashtra Seamless Weak Q2 Result: Margin Pressure, Order Book Growth & Export Trends | ET Now　 #ETNOW

Maharashtra Seamless’ Deputy GM of Investor Relations & Finance, Kaushal Bengani, joins ET Now to decode the company’s Q2 performance and outlook. While revenues stayed steady, margins were impacted by Chinese dumping in seamless pipes and inventory revaluation under IND-AS. Bengani highlights that the order book rose 20% YoY to ₹1,378 crore, signaling a healthier demand pipeline.
He also discusses the soft export environment amid U.S. tariff uncertainty, steady domestic oil & gas demand, and expects margins to improve sequentially as notional effects reverse in coming quarters.

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