ONGC will utilize these pipes for its oil and gas exploration activities in Rajasthan, Gujarat, Andhra Pradesh, Assam and Tripura.

“As India is ramping up its exploration and production activities in oil and gas sector, the company expects sustainable improvement in domestic demand for its products,” Maharashtra Seamless said in a statement.

Maharashtra Seamless (MSL) manufactures seamless pipes & tubes with the finest quality and wide product range using the world renowned CPE technology. MSL made a foray in the ERW pipe category and also started coated facility. The company has also diversified into renewable power generation and rig operations.

The company's consolidated net profit jumped 59.91% to Rs 153.23 crore on a 93.25% increase in sales to Rs 1,334.37 crore in Q1 FY23 over Q1 FY22.