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business | IST

Maharashtra Seamless has 40% exposure to ONGC, says MD Saket Jindal

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In an interview to CNBC-TV18, Saket Jindal, managing director, Maharashtra Seamless Ltd (MSL) said, "We have around 40 percent of exposure to the oil and gas sector in upstream. ONGC has 80 percent out of the upstream. Downstream it is 15 percent."

Maharashtra Seamless Ltd (MSL), the flagship company of DP Jindal Group, on Friday said it has around 40 percent general exposure to Oil and Natural Gas Corporation (ONGC).
In an interview to CNBC-TV18, Saket Jindal, managing director, said, "We have around 40 percent of exposure to the oil and gas sector in upstream. ONGC has 80 percent out of the upstream. It is 15 percent, downstream."
Jindal said the company got certain orders in ONGC recently and there are few tenders but it will take some time.
According to Jindal, Maharashtra Seamless has less export orders due to slowdown, however, domestic order book is good.
In seamless business, MSL can do 2.5 lakh tonne this year, he mentioned.
For entire discussion, watch video.