Shares of Maharashtra Seamless Ltd fell over 5% in early trade after the company reported a significant 32.6% year-on-year (YoY) drop in net profit for Q3 FY25. The net profit for the quarter ending December 31, 2024, stood at ₹186.1 crore, compared to ₹276 crore in the same period last year.
The company’s operating revenue decreased 1.6% year over year to ₹1,408.1 crore from ₹1,431.1 crore in the same quarter of FY24. In terms of operations, EBITDA fell sharply by 24.4% to ₹279.6 crore from ₹369.9 crore the previous year. Pressure on operational efficiency was reflected in the Q3 FY25 EBITDA margin, which dropped from 25.9% to 19.9%.
During its latest board meeting, Maharashtra Seamless announced key leadership changes. Arup Mandal was appointed as the new Chief Financial Officer (CFO) and key managerial personnel, effective January 27, 2025. Additionally, the board approved the reappointment of Saket Jindal as Managing Director for a five-year term starting April 1, 2025, subject to shareholder approval.
Maharashtra Seamless shares opened at ₹603.00, reaching a high of ₹608.00 and a low of ₹580.50 during the session. The stock is trading near its 52-week low of ₹566.50, significantly below its 52-week high of ₹1,097.00.
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