In view of its high order book and strong liquidity position, the company went ahead with this prepayment entirely from its internal accruals to become completely debt free, said the company.

This is the second instance of voluntary prepayment of long term loan in the past 8 months.

Maharashtra Seamless manufactures carbon and alloy steel seamless pipes, ERW (Electrical Resistance Welding) steel and castings pipes. The company also owns a wind power mill.

The company's consolidated net profit declined 5.8% to Rs 370.04 crore despite of 14.4% rise in net sales to Rs 1,632.73 crore in Q4 FY23 over Q4 FY22.