Maharashtra Seamless Ltd. — Earnings Release 2019

Feb 12, 2019

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Phone No.: 91-124-4624000, 2574326, 2574325, 2574728• Fax: 91-124-2574327 E-mail : contact@mahaseam.com Website : www.jindal.com GIN No: L99999MH1988PLC080545

12th February, 2019

Ref.: MSL/G/SEC/SE/2018-19/

BSE Limited Corporate Relationship Department l st Floor, New Trading Ring Rotunda Building, P J Towers Dalal Street, Fort MUMBAI - 400 001 Stock Code : 500265

National Stock Exchange of India Ltd. "Exchange Plaza", C-1, Block G, Bandra-Kurla Complex, Bandra (El, Mumbai - 400 05 l

Scrip ID MAHSEAMLES

Sub: Press Release

Dear Sir,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of Press Release, being issued by the Company.

This is for your information and record please.

Thanking you,

Yours faithfully,

For MAHARASHTRA SEAMLESS LIMITED

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J, . 1NJ26 L _______ _ . REGO. OFF. & WORKS

REGO. OFF. & WORKS

Pipe Nagar, Village, Sukeli. N.H.17, B.K.G. Road, Taluka-Roha, Distt. Raigad-402 126 (Maharashtra) Phone: 02194-238511, 238512, 238567, 238569 •Fax: 02194-238513

MUMBAI OFFICE

402, Sarjan Plaza, 100 Or. Annie Besant Road, Opp. Telco Showroom, Worli, Mumbai-400 018 Phones: 022-2490 2570 /72 /74• Fax: 022-2492 5473 5, Pusa Road, 2nd Floor, New Delhi-110005 Phones: 011-28752862, 28756631 Email: jpldelhi@bol.net.in Phone: 033-2455 9982, 2454 0053, 2454 0056 •Fax: 033 -Sukhsagar Apartment, Flat No. 8A, 8th Floor, 2/5, Sarat Bose Road, Kolkata - 700 020 2474 2290 E-mail: msl@cal.vsnl.net.in i-600017 Phone: 044-2434 2231• Fax: 044-2434 7990 3A, Royal Court. 41, Venkatnarayaria Road, T. Nagar Chenna

HEAD OFFICE KOLKATA OFFICE

CHENNAI OFFICE

� MAHARASHTRA � SEAMLESS LIMITED

February 12, 2019

Press Release

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New Delhi, India, February 12, 2019 - Maharashtra Seamless Limited ("MSL" or the "Company"), India's largest manufacturer of seamless pipes, announced its unaudited Standalone results for Q3 FY2019.

Q3 FY 2019 Standalone Financial Highlights:

• Total Revenue of Rs. 786 Crore, up 39%

• Total Pipes Production Volumes of 103,959 MT

• Seamless Pipes Production Volume of87,069 MT

• ER W Pipes Production Volume of 16,890 MT

• EBlTDA of Rs. 157 Crore, up 158%

• PBT of Rs. 143 Crore, up 151%

• PAT of Rs. 93 Crore, up 139%

Q3 FY 2019 Operational Highlights:

• Total pipes production up I 0% yoy, at 104k MT

• Strong seamless pipes production at 87k MT, 12% yoy

• ERW production up 5% yoy at 17k MT

• Continued ramp-up of Seamless Pipes capacities

• 350k MTP A Nagothane and 200k MTP A Mangaon plants are expected to reach to full capacity by June 2019

• Strong order book position of Rs. 1,300 Crore at end-December vs Rs. 950 Crore at end-September

• Generated 65% of power requirement through renewable sources

• NCL T approved MSL resolution plan for USTPL having capacity of 350k MTPA. Acquisition expected to be completed soon

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MAHARASHTRA SEAMLESS LIMITED

February 12, 2019

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Press Release

Commenting on MSL's results and performance, Mr. Saket Jindal, Managing Director, said:

"The Maharashtra Seamless team has delivered very strong results for Q3 FY2019, with PAT of Rs. 93 crore, up 139% compared to last year. We are India's largest seamless pipes producer, and one of the most efficient globally. Our production was up 10%, and margins were strong as the global demand environment was supportive and we remained efficient on the cost front.

We are in the process ,of completing the acquisition of United Seamless (USTPL) through the IBC process. USTPL has a seamless pipes capacity of 350k MTPA, and will further strengthen our market position, and generate long-term shareholder value."

Standalone Financial Performance:

(Rs. Crore) Production Volume (MT) Seamless (MT) ERW(MT)	Q3 F\2019 103,959 87,069	Q3 FY2018 Y-o-Y % Q2 F\2019 Q-o-Q% 94,178 10% 81,830 27%
		78,074 12% 63,991 36%
	16,890	16,104 5% 17,839 (5)% 96,135 1% 94,487 3% 81,782 (2)% 75,761 6%
Sales Volume (MT) Seamless(MT)	97,056 80,123
ERW(MT)	16,933	14,353 18% 18,726 _(10)% _
Total Income from Operations	786	562 39% 703 12%
EBITDA Seamless	157 141	61 158% 128 23% 50 185% 104 35% 6 (8)% 11 (50)%
ERW	5
EBITDA Margin	20.0%	10.8% 18.2%
EBIT	146	61 138% 138 6%
£BIT Margin	18.6%	10.9% 19.6%
PBT	143	57 151% 136 5%
PET Margin	18.2%	10.1% 19.3%
PAT PAT Margin	93 11.8%	39 139% 88 5% 6.9% 12.6%
Basic EPS(Rs.)	13.85	5.79 139% 13.21 5%
EBITDA/ton(Rs.)
Seamless	17,630	6,061 191% 13,783 28%
ERW	3,160	4,062 (22)% 5,719 (45)%

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MAHARASHTRA SEAMLESS LIMITED

February 12, 2019

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Press Release

Maharashtra Seamless Limited at a Glance:

Maharashtra Seamless Limited (BSE: 500265; NSE: MAHSEAMLES) is engaged in manufacturing steel pipes and tubes. The Company operates through two segments: Steel Pipes & Tubes, and Power - Electricity.

It offers electric resistance welding (ERW) pipes, including mild steel (MS) and galvanized pipes and American Petroleum Institute (AP!) line pipes; seamless pipes, such as hot finished pipes and tubes, cold drawn tubes and boiler tubes; coated pipes, including three layer polyethylene coating, fusion bonded epoxy coating, internal coating and three layer polypropylene, and pipe fittings. The Company's manufacturing plant has a capacity to produce 550,000 tons per annum of carbon and alloy steel hot finished and cold finished seamless pipes with size range from 10.3 millimeters (mm) to 508.0 mm. Its electric resistance welding (ERW) pipes manufacturing plant has a capacity to produce 200,000 tons of pipe

It has a 7 MW wind power and 11 MW of Solar power generating plant in Maharashtra and a 25 MW solar power plant in Rajasthan. In aggregate 43 MW ofrenewal,energy resource.

For further information, please contact:

Ashok Soni, CFO Ashwin Bajaj / Ajay Tambhale D.P. Jindal Group Churchgate Partners +91 124 462 4320 +91 22 6169 5988 ashok@mahaseam.com msl@churchgatepartners.com

Disclaimer:

Some of the statements contained in this press release are "forward-looking statements". Forward looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future Oil & Gas Prices and their impact on investment programs by Oil & Gas Companies, economic & political conditions. We can not assure that outcome of this forward­ looking statements will be realized.

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