Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q4 FY2024 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, May 21, 2024
Slide 1: E-Communication to stock exchanges
E-Communication MSL/ SEC/ SE/202 4-25 21 May 2024 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: MAHSEAMLES Sub: Earnings Presentat
Slide 2: Earnings Presentation Quarter & year ending 31 March 2024
Earnings Presentation Quarter & year ending 31 March 2024 21 May 2024 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 420 370 36% 312 333 1654 1564 276 1465 244 1600 1256 1259 280 24% 26% 22% 23% 19% 20% 800 140 12% Rs. crore Rs. crore 0 0 0% Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q4 FY24 Q3 FY24 Q4 FY23 Revenue from operations 1215 1430 1623 • United Seamless Tubulaar Pvt. Add: Other income 44 35 31 Ltd. (USTPL) had been Total revenue amalgamated with 1259 1465 1654 Maharashtra Seamless Ltd. (MSL) vide order of N
Slide 8: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 7200 1500 1223 30% 5790 5544 1038 4800 4065 1000 23% 20% 20% 603 2316 446 18% 2400 500 15% 10% Rs. crore Rs. crore 0 0 0% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 PAT & PAT margin EPS (on ex-bonus basis) 975 90 1050 30% 73
Slide 9: Operational & Financial Performance
Operational & Financial Performance Particulars Q4 FY24 Q3 FY24 Q4 FY23 FY24 FY23 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 95 24 98 28 119 32 394 100 432 85 Sales (kMT) 97 26 107 28 117 28 399 103 436 82 EBITDA (Rs. Cr) 210 31 325 18 258 25 1029 76 895 69 EBI
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q4 FY24 Q3 FY24 Rs. crore 17 15 12 18 18 31 Total Total EBIDTA - 276 EBIDTA - 370 Seamless 210 325 ERW Renewable Energy Q4 FY23 FY24 Rig 16 13 68 50 25 76 Total Total EBIDTA - 312 EBIDTA - 1223 258 1029 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars March 24 March 23 March 22 Preference / Preference / Preference / Equity Equity Equity ICD ICD ICD Related Parties 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 March 24 March 23 March 22 Long duration Bonds & NCD 696 291 307 •Investments in bonds are sub-divided into tax free bonds, perpetual bonds Corporate Deposits (LIC & ICICI) 20 - - and corporate bonds. Listed Equity Investments 22 8 16
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars March 24 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, long term loans taken for Gross Debt (A) - 244 6
Slide 14: Key Balance Sheet Items – Corporate Guarantee reduction schedule
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars Actual March 22 March 23 March 24 Discovery Drilling 218 181 NIL •There are no corporate guarantees given by the Company as on 31/03/2024. •The timeline committed to shareholders 2 years ago for complete discharge o
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 15 May 2024
Order book of MSL as on 15 May 2024 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 1048* - 5 1053 60% orders of Rs. 129 crore ^Includes cylinder pipes Others 443 118^ 140 701 40% orders of Rs. 84 crore Total 1491 118 145 1754 100% Our order book is suppo
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 & Oil India are being procured and dispatched rapidly as domestic demand is robust. ONGC has made significant natural gas discoveries in the Mahanadi basin. The discoveries were made in the MN- DWHP-2018/1 block, previously classif
Slide 19: Market Trends – Huge Potential
Market Trends – Huge Potential OPEC has revised its global oil demand in 2024 to 104.4 mn barrels per day from 102 mn barrels per day with increased requirement being met from non-OPEC countries such as USA, Norway & Canada. Global oil demand will improve on account of increased air & road travel an
Slide 20: Shareholding Structure – 31 March 2024
Shareholding Structure – 31 March 2024 16.08% 68.00% Key changes – Q4 FY24 v/s Q3 FY24 3.95% • Promoter holding increased from 67.86% to 68.00% Promoters 11.97% • FII holding increased from 10.50% to 11.97% FII • FII + DII holding increased from 14.81% to 15.92% DII Others • No. of FIIs increased fr
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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