Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q3 FY2022 Earnings Presentation
29 slides from Jindal Stainless's earnings presentation, Feb 10, 2022
Slide 1: Intimation of Earnings Presentation to Stock Exchanges
JSLln \ JINDAL STAINLESS 10 th February, 2022 BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot no. C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai
Slide 2: Q3 & 9M FY22 Earnings Presentation
JINDAL STAINLESS LTD and JINDAL STAINLESS (HISAR) LTD Q3& 9MFY22 Earnings Presentation February 10, 2022
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which has been prepared by Jindal Stainless Limited/Jindal Stainless (Hisar) Limited (referred to “respective company (ies)”) for this joint earning presentation, are purely for information purposes only and is not, and i
Slide 4: Standalone Operational and Financial Performance
Standalone Operational 3 and Financial Performance
Slide 5: JSL: Key Financials Highlights – Q3FY22
JSL: Key Financials Highlights – Q3FY22 Sales Volume (‘000 MT) Sales Composition 742 570 Export 26% 251 257 248 Domestic 74% Q3 FY21 Q2 FY22 Q3 FY22 9M FY21 9M FY22 Shift (%) QoQ: (4)% YoY: (1)% 30% Continued to register profitable growth by harnessing export markets 4
Slide 6: JSL: Key Financials Highlights – Q3FY22
JSL: Key Financials Highlights – Q3FY22 Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA 14,025 Discussions (Standalone) 2,030 7,870 4,815 5,368 874 711 739 3,452 445 Q3 FY21 Q2 FY22 Q3 FY22 9M FY21 9M FY22 Q3 FY21 Q2 FY22 Q3 FY22 9M FY21 9M FY22 Shift (%) QoQ: 11% YoY: 56
Slide 7: JSHL: Key Financials Highlights – Q3FY22
JSHL: Key Financials Highlights – Q3FY22 Sales Volume (‘000 MT) Sales Composition 523 394 Export 15% 191 188 184 Domestic 85% Q3 FY21 Q2 FY22 Q3 FY22 9M FY21 9M FY22 Shift (%) QoQ: (2)% YoY: (8)% 33% • Increased Specialty Products Division (SPD) sales by 32% on YoY basis • Recorded highest ever quar
Slide 8: JSHL: Key Financials Highlights – Q3FY22
JSHL: Key Financials Highlights – Q3FY22 Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA Discussions (Standalone) 1,403 9,748 5,641 639 3,415 3,820 501 520 2,822 351 Q3 FY21 Q2 FY22 Q3 FY22 9M FY21 9M FY22 Q3 FY21 Q2 FY22 Q3 FY22 9M FY21 9M FY22 Shift (%) QoQ: 12% YoY: 35
Slide 9: Market Update
Market Update Railways – wagons, coaches, Process Industry metros • Outlook remains positive • Desalination plants, Ethanol plant, • In coaches, higher demand Infrastructure Bio refinery, Fertilizer plants, fleet expected in FY23 • Railways notified use of stainless mode nuclear projects saw good st
Slide 10: Key Raw Materials- Price trend
Key Raw Materials- Price trend Nickel USD/ MT 19,821 17,573 17,359 19,125 15,930 14,210 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Note: Average quarterly prices; Source: LME Ferrochrome (INR/ MT) 1,15,895 1,18,782 94,675 90,650 65,583 68,775 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 9 Note: Average
Slide 11: JSL: Debt Position & Key Ratios
JSL: Debt Position & Key Ratios Borrowings (Standalone) As on As on As on (INR crore) Dec 2021 Mar.2021 Mar.2020 1.4 Net Debt/Equity Lenders’ Debt Long term debt 1,373 1530 2,357 0.9 0.7 Short term borrowing 493 319 398 Total Lenders’ Debt 1,867 1849 2,755 Inter corporate loan from 1,050 1,050 900 r
Slide 12: JSHL: Debt Position & Key Ratios
JSHL: Debt Position & Key Ratios Borrowings (Standalone) As on As on As on (INR crore) Dec 2021 March 2021 March 2020 Net Debt/Equity 1.1 Long term debt 1,211 1,250 1,929 0.6 Short term borrowing (less 0.5 394 127 90 than 12 months) Total Debt 1,604 1,376 2,019 Cash & Bank balances 9 8 19 FY20 FY21
Slide 13: Merger Overview
Merger Overview 12
Slide 14: Complementing Strengths
Complementing Strengths JSL JSHL Jajpur, Odisha Hisar, Haryana Key Plant Location Raw Material Hub, Port Proximity Key Consumption Hub Proximity 1.1 MTPA Integrated facility along with 0.8 MTPA with Specialized Product backward integration (Ferro Chrome and Division (SPD) including Blade Steel, Stai
Slide 15: Resilient Operational Performance
Resilient Operational Performance Revenue EBITDA 29,136 4,329 22,896 3,444 19,175 2,408 FY21 TTM 9M FY22 FY21 TTM 9M FY22 Interest Cost PBT 609 3,488 2,786 386 253 1,197 FY21 TTM 9M FY22 FY21 TTM 9M FY22 14 Note: Standalone proforma financials; All figures in INR. crore unless stated otherwise TTM :
Slide 16: Consolidating Balance Sheet Strength
Consolidating Balance Sheet Strength Net Debt (INR Cr) Net Debt / Equity Net Debt / EBITDA 0.8 2.3 -29% 0.5 0.4 4,718 1.3 3,125 3,372 0.8 Mar’20 Mar’21 Dec’21 Mar’20 Mar’21 Dec’21 Mar’20 Mar’21 Dec’21 Consistent deleveraging has been strengthening the balance sheet Leverage ratios have been one
Slide 17: Merger: JSL, JSHL
Merger: JSL, JSHL APPOINTED DATE • April 1, 2020 • Board approval of the scheme of arrangement MAJOR EVENTS • Stock Exchanges/SEBI approval EXPECTED COMPLETION • Shareholders and Creditors approvals IN H1 FY23 • NCLT approval • Implementation of Scheme • Received Stock Exchanges/SEBI approval in 1st
Slide 18: Annexure
Annexure 17
Slide 19: JSL: Abridged P&L Statement (Standalone)
JSL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q3FY22 Q3FY21 Q2FY22 9M_FY22 9M_FY21 Change (%) Change (%) Change (%) Revenue from operations 5,368 3,452 56% 4,815 11% 14,025 7,870 78% Total Expenditure 4,629 3,007 54% 4,104 13% 11,995 6,995 71% EBITDA 739 445 66% 711 4%
Slide 20: JSL: Abridged P&L Statement (Consolidated)
JSL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q3FY22 Q3FY21 Q2FY22 9M_FY22 9M_FY21 Change (%) Change (%) Change (%) Revenue from operations 5,670 3,585 58% 5,027 13% 14,729 8,275 78% Total Expenditure 4,873 3,111 57% 4,279 14% 12,584 7,393 70% EBITDA 797 473 68% 748 7
Slide 21: JSHL: Abridged P&L Statement (Standalone)
JSHL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q3 FY22 Q3 FY21 Q2 FY22 9M FY22 9M FY21 Change (%) Change (%) Change (%) Net revenue from operations 3,820 2,822 35% 3,415 12% 9,748 5,641 73% Total Expenditure 3,300 2,471 34% 2,914 13% 8,344 5,003 67% EBITDA 520 351 48% 5
Slide 22: JSHL: Abridged P&L Statement (Consolidated)
JSHL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q3 FY22 Q3 FY21 Q2 FY22 9M FY22 9M FY21 Change (%) Change (%) Change (%) Net revenue from operations 4,173 3,147 33% 3,743 11% 10,693 6,298 70% Total Expenditure 3,604 2,759 31% 3,176 13% 9,145 5,576 64% EBITDA 569 387 47
Slide 23: Proposed Structure Post Merger
Proposed Structure Post Merger Public Promoter 42.9% 57.1% ● Merger of JSHL into JSL JSL JSHL ● Swap ratio 1:1.95 PT Jindal Stainless 99.9% Indonesia Iberjindal S.L, 65% Subsidiaries /Investment ● Merger of JSL Lifestyle (mobility business), JSL Spain Media and JSCMS into JSL JSL Lifestyle (mobility
Slide 24: Capex Overview
\ | | | j yt Capex Overview ~ Ii
Slide 25: Leveraging World class Jajpur Infra & Hisar Speciality Product Leadership
Leveraging World class Jajpur Infra & Hisar Speciality Product Leadership JSL - Doubling Stainless Steel JSHL – Multiplying Speciality Capacity Products Augmenting Stainless Steel Melt capacity Strengthening product mix with expansion in value from 1.1MTPA to 2.1MTPA added product segment Incr
Slide 26: Integrated operations for Atmanirbhar Bharat
Integrated operations for Atmanirbhar Bharat Existing Incremental Total JSL Est. Capex Est. JSL Projects Capacity Capacity MTPA INR Cr Completion MTPA MTPA SMS 1.10 1.00 2.10 530 Q3 FY23 Combo Line 1,250 Q4 FY23 HRAP 0.80 0.45 1.25 CRAP 0.45 0.30 0.75 Ferro Chrome 0.25 0.10 0.35 315 Q3 FY24 Quality
Slide 27: Shareholding Pattern
Shareholding Pattern JSL JSHL Floating Stock (%) Floating Stock (%) Retail & Retail & Others Others 9.2% FII FII 16.9% 20.1% Promoters Other 15.0% Other 31.4% Promoters 68.6% 41.1% 58.9% DII DII 7.2% 4.1% 26 Note – Data as on 31st December, 2021
Slide 28: Contact Us
Contact Us Jindal Stainless Ltd.: Jindal Stainless Ltd. (JSL) is amongst the leading stainless steel manufacturing companies in the world and India's largest stainless steel manufacturer. The Company operates an Goutam Chakraborty / Shreya Sharma integrated stainless steel plant at Jajpur, Odisha. T
Slide 29: Thank You
Thank You 28