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Maharashtra Seamless Limited (500265) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Maharashtra Seamless Limited ₹1,360, price ₹698, upside +94.7%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Thin data
Sep 24, 2026
Maharashtra Seamless Limited
500265 · BSECheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
✓Fair value ₹1,360 · Strongly undervalued (+94.7%)
!Quality 46/100
!Mixed Growth (revenue 5y +14.8 %/yr)
!Loss over the last twelve months · -3.5% net margin (TTM) · fiscal year 2025 14.8%
✓Low debt
✓0.4% dividend yield · Sustainable
!Narrow moat 37/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹135.21 – ₹1,031 · fair‑value band ₹867.34 – ₹2,060 · the ₹698.45 price screens below the ₹1,360 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Maharashtra Seamless Limited manufactures and sells seamless steel pipes and tubes in India. It operates in three segments: Steel Pipes & Tubes, Power ? Electricity, and RIG.
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Maharashtra Seamless Limited manufactures and sells seamless steel pipes and tubes in India. It operates in three segments: Steel Pipes & Tubes, Power ? Electricity, and RIG. The company offers mild steel and galvanized pipes, API line pipes, oil country tubular goods (OCTG) pipes, and OTCG casing and tubing products; and hot finished pipes and tubes, cold drawn and boiler tubes, and OCTG drill pipes. It also provides coated pipes, including 3 layer polyethylene coated pipes; fusion bonded epoxy coated pipes; 3 layer polypropylene coated pipes; and internal epoxy coating pipes, as well as connections and pipe fittings. In addition, the company operates a rig; and operates a 5 MW solar power plant in Rajasthan, as well as 7 MW wind power project in Maharashtra. Its products are used in the oil and gas, hydro carbon process, bearing industry, automotive, boiler, heat exchanger, plumbing and firefighting, structural, general engineering, railways, sewage and water well, and hydraulic cylinder sectors. The company was incorporated in 1988 and is headquartered in New Delhi, India.
Stock analysis
Maharashtra Seamless Limited (500265) currently trades at ₹698.45, while our model-based Fair Value estimate is ₹1,360, implying the stock looks roughly 48.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,764 per share, and 23 of the 26 models we run sit above the ₹698.45 price.
Bear case: the Dividend Discount group reads lowest at ₹221.31, and 3 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹867.34 (bear) to ₹2,060 (bull), the price of ₹698.45 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Maharashtra Seamless Limited reported revenue of ₹52.7B in FY2025 versus ₹23.1B in FY2021, a compound +22.9%/yr. Reported net income was ₹7.8B in FY2025, compounding +67.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹14.9B (≈ $155M) · P/E ratio 57.8 · P/S ratio 8.53 · EPS (TTM) ₹3.84 · Dividend yield 0.4% · Net margin 14.8% · Return on equity −0.5% · Return on assets (EBIT) 11.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at 95%, 500265 screens cheaper than that median.
Fair Value models
Bear ₹867.34
Fair Value ₹1,360
Bull ₹2,060
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹1.34 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
₹785.41
₹1,182
₹1,722
80
Growth DCF
₹776.94
₹1,129
₹1,581
78
Owner Earnings
₹1,143
₹1,721
₹2,509
76
All 26 models by family
DCF Models
FCF DCF
₹785.41
₹1,182
₹1,722
80
Owner Earnings
₹1,143
₹1,721
₹2,509
76
5Y Revenue Exit
₹792.18
₹1,295
₹1,954
71
5Y EBITDA Exit
₹868.80
₹1,447
₹2,145
74
5Y P/E Exit
₹1,102
₹1,908
₹2,800
69
10Y Revenue Exit
₹757.07
₹1,181
₹1,787
66
10Y EBITDA Exit
₹819.67
₹1,274
₹1,918
67
10Y P/E Exit
₹949.82
₹1,557
₹2,369
63
Earnings-Based
Graham-Dodd
₹789.10
₹3,191
₹4,341
64
Lynch FV
₹796.87
₹1,138
₹1,480
61
PEG = 1.0
₹796.87
₹1,138
₹1,480
57
EPV
₹793.89
₹888.41
₹965.13
74
Dividend Discount
Gordon GGM
₹139.31
₹233.33
₹302.86
68
DDM Multi-Stage
₹139.31
₹221.31
₹251.03
67
Multiples
P/E Multiple
₹1,480
₹1,973
₹2,466
63
P/S Multiple
₹884.67
₹1,180
₹1,474
58
P/B Multiple
₹1,480
₹1,973
₹2,466
55
EV/EBIT
₹1,293
₹1,722
₹2,150
66
EV/EBITDA
₹1,038
₹1,382
₹1,726
67
EV/Revenue
₹831.92
₹1,186
₹1,540
53
Asset-Based
NCAV (Graham)
₹473.13
₹634.00
₹946.27
54
Growth DCF
Growth DCF
₹776.94
₹1,129
₹1,581
78
Rev-Margin DCF
₹792.18
₹1,290
₹1,907
71
Economic Profit
Residual Income
₹797.88
₹877.50
₹1,087
76
ROIC Compounder
₹793.89
₹888.41
₹986.46
72
Growth Earnings
Growth-Adj P/E
₹1,234
₹1,764
₹2,293
67
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Set up alert →Quality Score breakdown
Overall quality
46/100
Of which business quality 49 · Market factors (momentum, volatility) 65
Profitability
54
Margins and returns on capital today
Quality Growth
16
Are margins and returns improving?
Cashflow
55
Earnings quality: real cash, not paper profit
Fin. Strength
63
Balance sheet, leverage, solvency risk
Investment
57
Disciplined investing over empire-building
Low Volatility
73
Calm price path (market factor)
Momentum
59
Price trend over the last 3–12 months (market factor)
52W Momentum
66
Distance to the 52-week high (market factor)
Net Issuance
40
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Start year 2020 (pandemic). Over 10 years: +14.5% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.3%
’14
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’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+36.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+35.9%
Dividend (yield on the price)0.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 16%
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Steel · 406 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation Multiplesvs Steel median · lower = cheaper
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $236.24 | $116.49 | −51% |
| ArcelorMittal S.A MT | €59.82 | €35.15 | −41% |
| Steel Dynamics, Inc STLD | $230.39 | $127.93 | −44% |
| JSW Steel Limited JSWSTEEL | ₹1,233 | ₹1,095 | −11% |
| Tata Steel Limited TATASTEEL | ₹178.00 | ₹147.10 | −17% |
| Reliance, Inc RS | $393.04 | $211.55 | −46% |
| Baoshan Iron & Steel Co 600019 | ¥5.84 | ¥8.07 | +38% |
| POSCO Holdings 005490 | 311,000 KRW | 155,270 KRW | −50% |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥2.09 | ¥0.5300 | −75% |
| Jindal Steel Limited JINDALSTEL | ₹1,165 | ₹516.27 | −56% |
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Frequently asked questions
Is Maharashtra Seamless Limited (500265) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹1,360 versus a price of ₹698.45, about +95% upside (undervalued).
What is the fair value of 500265?
Our model-based fair value for Maharashtra Seamless Limited is ₹1,360 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹698.45.
What is the quality score of 500265?
Maharashtra Seamless Limited has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Maharashtra Seamless Limited (500265)?
Our model-based price target is the fair value of ₹1,360 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ₹867.34, optimistic scenario ₹2,060. It is a calculation from audited fundamentals, not an analyst target.
What is the Maharashtra Seamless Limited stock forecast for 2026?
Our models put fair value at ₹1,360, about +95% upside versus a price of ₹698.45 (undervalued). Cautious scenario ₹867.34, optimistic scenario ₹2,060. The calculation is refreshed regularly with new filings.
What is the revenue of Maharashtra Seamless Limited (500265)?
Maharashtra Seamless Limited reported trailing-twelve-month revenue of about ₹22.0B (latest available figure, as of Sep 24, 2026).
Does Maharashtra Seamless Limited pay a dividend?
Maharashtra Seamless Limited currently shows a dividend yield of about 0.36% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Maharashtra Seamless Limited (500265)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Maharashtra Seamless Limited it is ₹1,360 per share (as of Sep 24, 2026), against a price of ₹698.45. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Maharashtra Seamless Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 500265 trades below its calculated fair value: price ₹698.45, fair value ₹1,360, a gap of about +95% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500265?
No. The price is what the market pays today (₹698.45); the fair value is what the company's own numbers justify (₹1,360). For Maharashtra Seamless Limited the two are ₹661.56 per share apart. That gap is exactly why we show both numbers side by side.
How much is Maharashtra Seamless Limited worth?
The market values Maharashtra Seamless Limited at about ₹14.9B (market capitalisation, as of Sep 24, 2026). Per share that is ₹698.45; our models calculate a fair value of ₹1,360 per share.
What do the bullish and bearish scenarios say about 500265?
Our models span a range for Maharashtra Seamless Limited: cautious scenario ₹867.34, base ₹1,360, optimistic ₹2,060 per share (as of Sep 24, 2026, price ₹698.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500265?
Maharashtra Seamless Limited trades at a price-to-earnings ratio of 57.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,360 is built from several models across several years.
How solid is the balance sheet of Maharashtra Seamless Limited (500265)?
Balance-sheet figures for Maharashtra Seamless Limited (as of Sep 24, 2026): return on equity −0.5%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 500265 from its 52-week high?
Maharashtra Seamless Limited trades at ₹698.45, about 5% below its 52-week high of ₹738.05 and 38% above the low of ₹505.35 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,360 is for.
Which stocks are comparable to Maharashtra Seamless Limited?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Maharashtra Seamless Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹698.45, calculated fair value ₹1,360 (+95%), Quality Score 46/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500265 calculated?
We run Maharashtra Seamless Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,360, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Maharashtra Seamless Limited currently trades 49 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Maharashtra Seamless Limited (500265)?
The closing price on Oct 1, 2026 was ₹698.45. Our model-based fair value is ₹1,360, about +95% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Maharashtra Seamless Limited right now?
The price is below even our cautious bear case (₹867.34). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹867.34 to ₹2,060) leaves room in how you read the outcome.
Key figures of Maharashtra Seamless Limited
How large is the market capitalisation of Maharashtra Seamless Limited (500265)?
The market capitalisation of Maharashtra Seamless Limited is ₹14.9B (≈ $155M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Maharashtra Seamless Limited (500265)?
The price-to-sales ratio of Maharashtra Seamless Limited is 8.53 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Maharashtra Seamless Limited (500265)?
Earnings per share at Maharashtra Seamless Limited are ₹3.84 (price ÷ EPS = P/E 57.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Maharashtra Seamless Limited (500265)?
The dividend yield of Maharashtra Seamless Limited is 0.4% (payout 65.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Maharashtra Seamless Limited (500265)?
The net margin of Maharashtra Seamless Limited is 14.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Maharashtra Seamless Limited (500265)?
The return on equity (ROE) of Maharashtra Seamless Limited is −0.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Maharashtra Seamless Limited (500265)?
On an EBIT basis the return on assets of Maharashtra Seamless Limited is 11.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Maharashtra Seamless Limited (500265)?
The operating margin of Maharashtra Seamless Limited is 15.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Maharashtra Seamless Limited (500265)?
Revenue at Maharashtra Seamless Limited is growing −26.8% versus a year earlier (3y avg +7.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Maharashtra Seamless Limited (500265)?
Earnings per share at Maharashtra Seamless Limited are growing −54.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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