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“ With our established product range upto 7” dia. of Seamless Pipes and Tubes, we are now all set to accept all requirements upto 14” dia.” 2
Chairman's Statement Dear Shareholders, The world economy has seen lots of turnarounds in various sectors. In the last one year steel industry has witnessed the heights and also the changed trend. Maharashtra Seamless continued its path on the progress with the Gross Turnover of Rs.879 crores in the financial year 2004-05. With our established product range upto 7” of Seamless Pipes and Tubes we are now all set to accept all requirements upto 14” in Seamless as our new mill has already gone into production in this higher dia range. Now we would meet the requirements of the entire range of Pipes in all alloy and non-alloy grades. With the committed teamwork we are confident to meet the challenges in the times to come in any market scenario. However, we will not stop here. We are fully committed to enhance the scale, competitiveness, efficiency and the productivity at all levels and in all areas. With this motive only we have already decided to setup our own steel plant in Orissa, which will basically feed all of the raw material requirements of Maharashtra Seamless Ltd. In line with the growth of the Indian Economy, your Company is also on its way to achieve its mission of growth and prosperity. The track record of consistent & impressive performance posted by the company year after year speaks about such growth. Total Quality Management (TQM), Cost Control and aggressive marketing have become integral part of the systems of your company. Currently, the market for Seamless & ERW Pipes is growing at a rapid pace. With more emphasis being given on exploration, drilling and laying of cross country Line pipes, pipe Industry is having a very promising future outlook. The company is confident that with the combination of market growth and the expansion project, the company would be able to garner the major chunk of the growth in Pipe Industry. There is competition from International players like China and East European countries. Reduction in Import Duty on pipes and tubes may pose some threat to Indian manufacturers in the coming years as Government may go for lower tariff structure in the future. Your company is ready to face this challenge. When the competition intensifies with price playing a major role, cost management which we are practicing continuously can contribute effectively to profitability. The ultimate challenge will be to manage intense competition and optimize the benefits of productivity and profitability improvement measures. Our long-term goal is to maximize returns on shareholders' wealth for our esteemed shareholders, which is reflected in the financial performance achieved by the Company. We hope to receive the continued support and patronage of all of our associates, which will add to our determination to achieve spectacular results in the coming years. 3 D.P. Jindal
Page 1 and 2: 17TH ANNUAL REPORT 2004-2005 Expand
Page 3: MAHARASHTRA SEAMLESS LIMITED CONTEN
Page 7 and 8: Message from the Managing Director
Page 9 and 10: MAHARASHTRA SEAMLESS LIMITED NOTICE
Page 11 and 12: MAHARASHTRA SEAMLESS LIMITED ANNEXU
Page 13 and 14: MAHARASHTRA SEAMLESS LIMITED DIVIDE
Page 15 and 16: MAHARASHTRA SEAMLESS LIMITED c) Imp
Page 17 and 18: MAHARASHTRA SEAMLESS LIMITED CORPOR
Page 19 and 20: MAHARASHTRA SEAMLESS LIMITED 4. REM
Page 21 and 22: MAHARASHTRA SEAMLESS LIMITED Stock
Page 23 and 24: AUDITORS’ CERTIFICATE To The Memb
Page 25 and 26: MAHARASHTRA SEAMLESS LIMITED FINANC
Page 27 and 28: AUDITORS’ REPORT To The Members o
Page 29 and 30: (b) According to the information an
Page 31 and 32: MAHARASHTRA SEAMLESS LIMITED PROFIT
Page 33 and 34: MAHARASHTRA SEAMLESS LIMITED SCHEDU
Page 41 and 42: MAHARASHTRA SEAMLESS LIMITED 8 Stoc
Page 43 and 44: MAHARASHTRA SEAMLESS LIMITED 14. In
Page 45 and 46: MAHARASHTRA SEAMLESS LIMITED IV. RA
Page 47 and 48: MAHARASHTRA SEAMLESS LIMITED Additi
Page 49 and 50: MAHARASHTRA SEAMLESS LIMITED CASH F

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