Maharashtra Seamless announced that the Board of Directors of the Company at its meeting held on 23 May 2018, has recommended a final dividend of Rs.6.00 per share (i.e.120%), subject to the approval of the shareholders.

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Net profit of Maharashtra Seamless rose 125.85% to Rs 88.42 crore in the quarter ended March 2018 as against Rs 39.15 crore during the previous quarter ended March 2017. Sales rose 39.87% to Rs 630.12 crore in the quarter ended March 2018 as against Rs 450.50 crore during the previous quarter ended March 2017.

For the full year,net profit rose 36.35% to Rs 198.42 crore in the year ended March 2018 as against Rs 145.52 crore during the previous year ended March 2017. Sales rose 49.22% to Rs 2123.48 crore in the year ended March 2018 as against Rs 1423.04 crore during the previous year ended March 2017.

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The Board of Maharashtra Seamless at its meeting held on 24 May 2018 has approved the scheme of amalgamation between Maharashtra Seamless Finance, a wholly owned subsidiary of the company and Jindal Premium Connections with Maharashtra Seamless.

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Maharashtra Seamless has bagged an order of Rs. 522 crore (US$ 81.40 million) from Oil & Natural Gas Corpn for the supply of seamless casings for their Oil & Gas exploration activities.

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