While the lower EBITDA for Maharashtra Seamless in the June 2024 quarter is primarily attributed to a decrease in net sales and overall profitability. Specifically, the company’s net sales declined by 5.88% year-over-year, from Rs. 1,222.94 crore in June 2023 to Rs. 1,150.98 crore in June 2024, I see this as a lack of commitment (read Quality of Management – poor execution).
Additionally, the company’s net profit also saw a substantial decline of 37.41%, further impacting overall financial performance.
(Ref Mah Seamless Consolidated June 2024 Net Sales at Rs 1,150.98 crore, down 5.88% Y-o-Y).
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