Anand Seamless Export Share Drops to 5.15% as Domestic Sales Rise

Anand Seamless’s export share dropped to 5.15% of revenue from operations in 2025-26, from 35.23% in 2023-24. Export revenue declined to Rs 2.8848 crore from Rs 12.9983 crore, while domestic revenue increased to Rs 53.1188 crore from Rs 23.9019 crore, shifting the company’s sales mix towards India.

Why did Anand Seamless’s export share drop to 5.15%?

Anand Seamless’s export share dropped because exports remained far below their 2023-24 level while domestic sales expanded. Exports were Rs 2.8848 crore, or 5.15% of Rs 56.0036 crore in revenue from operations, in 2025-26. In 2023-24, exports were Rs 12.9983 crore, or 35.23% of total revenue from operations of Rs 36.9002 crore.

The disclosed geography data does not identify a specific cause for the export decline. It shows exports falling to Rs 2.3722 crore, or 7.07% of revenue from operations, in 2024-25 before increasing by Rs 0.5126 crore to Rs 2.8848 crore in 2025-26. Total revenue from operations rose by Rs 22.4573 crore in 2025-26, however, led by domestic sales.

Anand Seamless’s export share therefore fell by 30.08 percentage points between 2023-24 and 2025-26, while the domestic share rose by the same amount to 94.85%. This is a revenue-from-operations measure, not an order-book or shipment measure. A higher export share would require export revenue to grow faster than the company’s domestic revenue base.

Which domestic markets account for Anand Seamless revenue?

Anand Seamless was concentrated in Gujarat and Maharashtra in 2025-26. Gujarat generated Rs 30.5174 crore, or 54.49% of total revenue from operations, and Maharashtra generated Rs 9.9361 crore, or 17.74%. Together, these two states accounted for Rs 40.4535 crore, or 72.23%, of the Rs 56.0036 crore total.

The two-state concentration increased from 41.21% in 2023-24. Gujarat revenue rose from Rs 11.7670 crore in 2023-24 to Rs 19.4889 crore in 2024-25 and Rs 30.5174 crore in 2025-26. Maharashtra revenue moved from Rs 3.4404 crore to Rs 2.2159 crore and then Rs 9.9361 crore over the same three financial years.

Other reported domestic markets were smaller in 2025-26. Madhya Pradesh contributed Rs 3.1999 crore, Kerala Rs 2.4995 crore, Haryana Rs 1.5781 crore, Telangana Rs 1.3171 crore and West Bengal Rs 1.1276 crore. These six states, including Gujarat and Maharashtra, contributed Rs 50.1756 crore, or 89.59%, of 2025-26 revenue from operations.

How did Anand Seamless’s export markets change?

Anand Seamless reported five export destinations with revenue in 2025-26, and each contributed below Rs 1 crore. The United Arab Emirates was the largest at Rs 74.00 lakh, followed by the Sultanate of Oman at Rs 71.26 lakh, Germany at Rs 58.68 lakh, the United States of America at Rs 46.56 lakh and Saudi Arabia at Rs 37.98 lakh. Germany had no reported revenue in either 2024-25 or 2023-24.

The export mix was materially different in 2023-24. The United Arab Emirates then contributed Rs 5.6742 crore and Kuwait contributed Rs 3.8833 crore, together representing Rs 9.5575 crore of the Rs 12.9983 crore export total. In 2025-26, Kuwait, Jordan, Spain and Serbia had no reported export revenue in the geography table.

Oman and Saudi Arabia recovered from their 2024-25 levels but did not return to their 2023-24 levels. Oman increased from Rs 6.74 lakh in 2024-25 to Rs 71.26 lakh in 2025-26, compared with Rs 1.4886 crore in 2023-24. Saudi Arabia increased from Rs 10.79 lakh to Rs 37.98 lakh, compared with Rs 59.26 lakh in 2023-24, while United States revenue declined from Rs 53.40 lakh to Rs 46.56 lakh across the two years.

What is Anand Seamless doing to expand overseas sales?

Anand Seamless has appointed sole distributors in Abu Dhabi, Oman and Saudi Arabia and marketing representatives for the European market to increase its international share. As of March 31, 2026, the company stated that it had exported to Middle East locations including Abu Dhabi, Saudi Arabia and Oman, and to European countries including Germany. Its international sales channels include traders or stockists, authorised distributors and certain marketing representatives in Europe.

Anand Seamless’s geographic strategy is to enter new regions across India and selected international markets, supported by enhanced distribution networks and local manufacturing collaborations. The company states that it began exporting to Abu Dhabi and Saudi Arabia in 2015 and started exports to the United States in 2023. It does not disclose sales targets, distributor volumes, expected export revenue or a timetable for the stated expansion.

The company also identifies a dedicated Export Business Team that works through agents and distributors. Before tenders and non-tender quotations are submitted, its sales process includes technical, production, costing and commercial reviews, with management approval for bids and revised offers. Distribution appointments alone therefore do not establish future revenue; customer orders, production and dispatch must follow for the overseas plan to affect reported sales.

How does product revenue relate to the geographic shift?

Anand Seamless increased revenue in both of its main product categories during 2025-26, although the disclosure does not split product revenue between domestic and export markets. Seamless tubes and pipes generated Rs 37.3777 crore, or 66.74% of revenue from operations, compared with Rs 25.4528 crore, or 75.87%, in 2024-25. Finned tubes generated Rs 17.5271 crore, or 31.30%, compared with Rs 7.1669 crore, or 21.36%, a year earlier.

The product comparison shows that finned tubes gained 9.94 percentage points of the revenue mix between 2024-25 and 2025-26, while seamless tubes and pipes declined by 9.13 percentage points. Anand Seamless manufactures seamless tubes and pipes in carbon steel, alloy steel and stainless steel, as well as finned tubes. The company cites ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications, along with stated Indian Boiler Regulation approvals and Pressure Equipment Directive certification for products sold in Europe.

Conclusion

Anand Seamless’s revenue mix became predominantly domestic in 2025-26, when domestic revenue reached Rs 53.1188 crore and 94.85% of revenue from operations. The change from 2023-24 combines a Rs 10.1135 crore reduction in export revenue with a Rs 29.2169 crore increase in domestic revenue, while Gujarat and Maharashtra supplied 72.23% of the latest-year total.

The disclosed plan to watch is the use of sole distributors in Abu Dhabi, Oman and Saudi Arabia and marketing representatives in Europe, alongside proposed entry into selected international markets. Anand Seamless has not disclosed targets or a planned revenue contribution from these channels, so later geography-wise revenue data will indicate whether export growth can outpace domestic sales.