MAHSEAMLES Q1 FY27 Guidance vs Delivery (MAHSEAMLES Management Mirror)

FY27 Dispatch Guidance Initiated at 4,10,000-4,30,000 Tons; Q1 FY27 Volumes Hit 96,000 Tons on Gas Supply Disruptions

In the Sep'25 Qtr, management guided that the company was on track to manufacture 4,00,000 tons of seamless pipes in FY26. By the Jun'26 Qtr concall, management noted that FY26 total dispatches reached 4,19,000 tons. For FY27, management initiated new full-year dispatch guidance of 4,10,000 to 4,30,000 tons. During the Jun'26 Qtr, actual dispatches stood at 96,000 tons, below the usual run rate of 1,05,000 to 1,10,000 tons due to gas supply disruptions at the Telangana plant in April. Management expects Q2 FY27 dispatches to rebound to 1,05,000 to 1,10,000 tons now that the gas supply issue is resolved. Active capacity utilization currently operates around the 70% to 75% range of 5,50,000 tons of capacity.