The order, awarded by a domestic entity, will be executed through gradual dispatches over the next few quarters as per customer requirements. MSL confirmed that the contract does not fall under related party transactions, and the company’s promoter group has no interest in the awarding entity.
The seamless pipes and tubes industry player expects a volume growth of 7-8% in 2024-25 (FY25) for its seamless pipes business. In a conversation with CNBC-TV18, Kaushal Bengani, Deputy General Manager said, “In last financial year, we dispatch around 400,000 tonne of seamless pipes. This year, in nine months, we have dispatched 324,000 tonne of seamless pipes, and we expect that we will dispatch around 435,000 tonne of seamless pipes in the entire financial year, which gives a volume growth of around 7 to 8% on year-on-year basis.”
The company expects to dispatch approximately 500,000 tonne in 2026-27 (FY27), setting its growth target for tonnage. In the October-December 2024 quarter (Q3FY25), the company reported revenue of ₹1,408 crore, with margins at 19.87% and a profit after tax of ₹186 crore. The total order book as of January 20, 2025, stands at ₹1,674 crore. EBITDA per tonne is expected to be ₹16,500 for 2024-25.
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