Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q2 FY2024 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Nov 1, 2023
Slide 1: Exchange filing cover letter: Earnings Presentation
E-Communication MSL/SEC/SE/2022 -23 01 November 2023 BSE Limited National Stock Exchange of India Limited 25th Floor, P.J. Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Mumbai-400001 Bandra - Kurla Complex Bandra (E), Mumbai-400051 Stock Code: 500265 Scrip Code: MAHSE AMLES Sub: Earnings Prese
Slide 2: Earnings Presentation Quarter ending 30 September 2023
Earnings Presentation Quarter ending 30 September 2023 01 November 2023 1
Slide 3: Forward Looking & Disclaimer Statement
Forward Looking & Disclaimer Statement This document contains “forward-looking statements” about our business, financial performance, skills and prospects. Statements about our plans, intentions, expectation, beliefs, estimates, prediction or similar expression for the future are forward-looking sta
Slide 4: Maharashtra Seamless – Segments & Capacities
Maharashtra Seamless – Segments & Capacities Seamless Pipes ERW Pipes Renewable Energy Rig • New generation • Maharashtra • Solar offshore jack up rig • 52.50 MW AC at • 450,000 mt/annum • API certified Maharashtra & • Operating with • High frequency Rajasthan 98% efficiency on 3 • Telangana • PSL 2
Slide 5: Products & Industries served
Products & Industries served Industries Seamless ERW Others Served Pipes Pipes (Coated & Premium Connections, Pipe Fittings) Agriculture Automotive Bearing Chemical Drinking Water Engineering Fertilizers Housing Irrigation Mechanical Oil and Gas Petrochemical Power
Slide 6: Quarterly Highlights – Maharashtra Seamless
Quarterly Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 2400 450 36% 1654 312 333 1435 1564 1600 1355 1256 300 249 245 244 24% 20% 22% 18% 18% 19% 800 150 12% Rs. crore Rs. crore 0 0 0% Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q2 FY24 Q1 FY24 Q2 FY23 Revenue from operations 1535 1223 1413 • United Seamless Tubulaar Pvt. Add: Other income 29 33 21 Ltd. (USTPL) had been Total revenue 1564 1256 1434 amalgamated with MSL vide order of National Company Law Tribunal
Slide 8: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 6600 5790 1200 1038 45% 4065 4400 800 30% 603 446 2316 2200 400 20% 15% 18% Rs. crore Rs. crore 15% 0 0 0% FY21 FY22 FY23 FY21 FY22 FY23 PAT & PAT margin EPS (on ex-bonus basis) 793 75 840 711 30% 59 53 50 560 20% 18% 280
Slide 9: Operational & Financial Performance
Operational & Financial Performance Particulars Q2 FY24 Q1 FY24 Q2 FY23 H1 FY24 H1 FY23 FY23 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 107 27 94 21 110 13 201 48 216 31 431 85 Sales (kMT) 105 28 90 21 113 13 195 49 220 30 436 82 EBITDA (Rs. Cr) 29
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q2 FY24 Q1 FY24 Rs. crore 16 11 18 11 16 11 Total Total EBIDTA - 333 EBIDTA - 244 Seamless 290 204 ERW Renewable Energy Q2 FY23 FY23 59 15 Rig 114 2 69 Total Total EBIDTA - 249 EBIDTA - 1038 232 895 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars September 23 March 23 March 22 Preference / Preference / Preference / Equity Equity Equity ICD ICD ICD Investments Jindal Premium Connections 4 3 4 3 4 3 MSL Finance 3 - 3 - 3 - Maharashtra Seamle
Slide 12: Key Balance Sheet Items – Liquid investments
Key Balance Sheet Items Liquid investments Rs. crore Particulars Sep 23 March 23 March 22 Long duration Bonds 326 291 307 • Investments in bonds are sub-divided into tax free bonds, perpetual bonds Corporate Deposits (LIC & ICICI) 20 - - and corporate bonds. Listed Equity Investments 16 8 16 (A) 362
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars Sep 23 March 23 March 22 Loan for Telangana plant acquisition - - 334 • In view of sufficient internal accruals and Loan for rig acquisition - 244 299 rising interest rates, loans taken for Gross Debt (A) - 244 633 Telangana
Slide 14: Key Balance Sheet Items – Corporate Guarantee reduction schedule
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars Actual Projected March 22 March 23 Sep 23 December 23 March 24 Sep 24 Discovery Drilling 218 181 153 136 118 - • Corporate guarantee outstanding of Rs. 153 crore (~ USD 18.45 mn) is for bank loan availed by Discover
Slide 15: Capital Allocation
Capital Allocation Industry – From and Market FY 24 to FY 26 Trends Estimated annual Sl. Particulars Rs. crore Location turnover increase 1 Heat treatment, finishing facilities & EMI for capacity enhancement 184 Narketpally By Rs. 800 crores 2 Solar plant (captive) to enhance annual cost savings by
Slide 16: Order book of MSL as on 25 October 2023
Order book of MSL as on 25 October 2023 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 524* - 10 534 37% orders of Rs. 134 crore ^Includes cylinder pipes Exports & Others 477 211^ 237 925 63% orders of Rs. 108 crore Total 1001 211 247 1459 100% We expect
Slide 17: Government Policies
Government Policies Anti-Dumping Duty: • The Ministry of Finance, on recommendation of Directorate General of Trade Remedies (DGTR), has extended anti-dumping duty by way of a minimum import price for a further period of 5 years from 28 October 2021 on various types of seamless pipes from China. Atm
Slide 18: Sales & Marketing Update
Sales & Marketing Industry Update and Market Trends Orders from ONGC have been executed in Q2 and will continue in Q3 & Q4 as well. As domestic demand is robust and new oil blocks „Amrit‟ and „Moonga‟ have been recently discovered in Mumbai offshore, fresh orders are expected considering our offerin
Slide 19: Market Trends – Huge Potential
Market Trends – Huge Potential OPEC sees global oil demand hitting 101.8 mn barrels per day up from 99.55 mn barrels per day in 2022 with increased requirement being met from non-OPEC countries such as USA, Norway & Canada. Global oil demand will exceed supplies by an average of roughly 1.5 million
Slide 20: Shareholding Structure – 30 September 2023
Shareholding Structure – 30 September 2023 7.98% 4.38% Key changes – Q2 FY24 v/s Q1 FY24 67.86% 19.78% • Promoter holding increased from 67.80% to 67.86% Promoters • FII holding increased from 5.96% to 7.98% Others • DII holding increased from 4.31% to 4.38% DII FII • No. of FIIs & DIIs increased Pr
Slide 21: Marquee Customers
Marquee Customers Oil and Gas Infrastructure www.alimtiaz.com 20
Slide 22: Investor Contact
Investor Contact Kaushal Bengani Deputy General Manager Investor Relations & Finance Tel. No.: +91-124-4624177 E-Mail: kaushal@mahaseam.com www.jindal.com CIN: L99999MH1988PLC080545 21
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