Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q3 FY2023 Earnings Presentation
27 slides from Jindal Stainless's earnings presentation, Jan 23, 2023
Slide 1: Regulation 30 intimation to stock exchanges
_J J INDAL STAINLESS n January 23, 2023 BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department, Exchange Plaza, 5th Floor, I st Floor, New Trading Ring, Plot no. C/ 1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Sandra (E), Dalal Street, Fort, Mumbai - 40
Slide 2: Q3 & 9MFY23 Earnings Presentation
JINDAL STAINLESS LTD and JINDAL STAINLESS (HISAR) LTD Q3 & 9MFY23 Earnings Presentation January 23, 2023
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 and 3 Financial Performance
Slide 5: JSL: Key Financials Highlights
JSL: Key Financials Highlights Sales Volume (‘000 MT) Sales Composition Q3FY23 836 742 Export 3% 330 248 270 Domestic 97% Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23 Shift (%) QoQ: 22% YoY: 33% 13% 4
Slide 6: JSL: Key Financials Highlights
JSL: Key Financials Highlights Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA 16,999 Discussions (Standalone) 2030 14,025 1557 5,368 5,442 6,221 739 622 411 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: 14% YoY: 16% 21% Sh
Slide 7: JSHL: Key Financials Highlights
JSHL: Key Financials Highlights Sales Volume (‘000 MT) Sales Composition Q3FY23 523 Export 490 6% 184 183 174 Domestic 94% Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: (5)% YoY: (5)% (6)% 6
Slide 8: JSHL: Key Financials Highlights
JSHL: Key Financials Highlights Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA 10,285 Discussions (Standalone) 1404 9,748 950 3,820 3,448 3,765 520 295 339 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: 9% YoY: (1)% 6% Shif
Slide 9: Market Update
Market Update Railways – wagons, coaches, metros Infrastructure Process Industry • Demand push for BOXNHL wagons • Lifts and elevators segment has has been helpful. Outlook remains been stable with positive outlook positive • Demand for special grades e.g. • Focus on Vande Bharat Trainsets • Robust
Slide 10: Key Raw Materials- Price trend
Key Raw Materials- Price trend Nickel (USD/ MT) 28,940 26,395 22,063 25,292 19,821 19,125 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Note: Average quarterly prices; Source: LME Ferrochrome (INR/ MT) 1,18,782 1,10,840 1,17,746 1,15,895 97,073 1,00,558 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 9 Note:
Slide 11: JSL: Debt Position & Key Ratios
JSL: Debt Position & Key Ratios Borrowings (Standalone) As on Dec As on Sep As on Mar (INR crore) 2022 2022 2022 Net Debt/Equity 0.9 Lenders’ Debt Long term debt 1,846 1,883 1,455 0.5 Short term borrowing 185 343 290 0.3 Total Lenders’ Debt 2,031 2,227 1,744 Inter corporate loan from 1,050 1,050 1,0
Slide 12: JSHL: Debt Position & Key Ratios
JSHL: Debt Position & Key Ratios Borrowings (Standalone) As on Dec As on Sep As on Mar (INR crore) 2022 2022 2022 Net Debt/Equity 0.6 Long term debt 1,172 1,190 1,205 0.4 Short term borrowing (less 0.3 142 256 421 than 12 months) Total Debt 1,314 1,446 1,626 Cash & Bank balances 222 493 21 FY21 FY22
Slide 13: Merger Overview
Merger Overview 12
Slide 14: Merger & Acquisition Update
Merger & Acquisition Update JSL- JSHL MERGER APPOINTED DATE • Board approval of the scheme of arrangement • Stock Exchanges/SEBI approval April 1, 2020 MAJOR EVENTS • Shareholders and Creditors approvals SWAP RATIO • NCLT approval 1 : 1.95 • Implementation of Scheme Hon’ble National Company Law Trib
Slide 15: Merged Proforma: Performance
Merged Proforma: Performance Revenue EBITDA 4,740 35,541 3,773 32,620 25,817 2,477 FY22 TTM 9M FY23 FY22 TTM 9M FY23 Interest Cost PAT PBT 327 2,949 311 2,428 236 1,404 FY22 TTM 9M FY23 FY22 TTM 9M FY23 Note: The term “ proforma merged” refers to the post merged figures of entities of JSHL and JSL L
Slide 16: Consolidating Balance Sheet Strength
Consolidating Balance Sheet Strength Net Debt (INR Cr) Net Debt / Equity Net Debt / EBITDA 0.8 (40)% 2.3 4,718 3,162 2,824 0.3 0.3 0.7 0.7 Mar’20 Mar’22 Dec’22 Mar’20 Mar’22 Dec’22 Mar’20 Mar’22 Dec’22 Note: The term “ proforma merged” refers to the post merged figures of entities of JSHL and JSL Li
Slide 17: JUSL Performance
JUSL Performance EBITDA Interest Cost 236 216 635 590 480 162 FY22 TTM 9M FY23 FY22 TTM 9M FY23 PAT Net Debt PBT 2,402 194 2,030 1,964 148 151 FY21 FY22 9M FY23 FY22 TTM 9M FY23 16 All figures in INR. crore unless stated otherwise TTM : Trailing twelve months from Jan’22
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) Q3FY23 Q3FY22 Q2FY23 9MFY23 9MFY22 Change (%) Change (%) Change (%) Revenue from operations 6,221 5,368 16% 5,442 14% 16,999 14,025 21% Total Expenditure 5,598 4,629 21% 5,031 11% 15,443 11,995 29% EBITDA 622 739 (16%) 411 5
Slide 20: JSL: Abridged P&L Statement (Consolidated)
JSL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q3FY23 Q3FY22 Q2FY23 9MFY23 9MFY22 Change (%) Change (%) Change (%) Revenue from operations 6,350 5,670 12% 5,605 13% 17,428 14,729 18% Total Expenditure 5,825 4,873 20% 5,246 11% 15,997 12,584 27% EBITDA 525 797 (34%) 358
Slide 21: JSHL: Abridged P&L Statement (Standalone)
JSHL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q3FY23 Q3FY22 Q2FY23 Change 9MFY23 9MFY22 Change Change (%) (%) (%) Net revenue from operations 3,765 3,820 (1%) 3,448 9% 10,285 9,748 6% Total Expenditure 3,427 3,300 4% 3,153 9% 9,335 8,344 12% EBITDA 339 520 (35%) 295 15
Slide 22: JSHL: Abridged P&L Statement (Consolidated)
JSHL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q3FY23 Q3FY22 Q2FY23 Change 9MFY23 9MFY22 Change Change (%) (%) (%) Net revenue from operations 4,285 4,173 3% 3,926 9% 11,665 10,693 9% Total Expenditure 3,918 3,604 9% 3,603 9% 10,638 9,145 16% EBITDA 367 569 (35%) 323
Slide 23: Capex Overview
\ | | | j yt Capex Overview ~ Ii
Slide 24: Expansion Capex
Expansion Capex 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 Lab Expenses and Other balanc
Slide 25: Shareholding Pattern
Shareholding Pattern JSL JSHL Floating Stock (%) Floating Stock (%) Retail & Retail & FII Others Others FII 13.2% 9.5% 13.9% Other Other 22.5% Promoters 29.9% Promoters 41.1% 70.1% 58.9% DII DII 7.2% 4.7% 24 Note – Data as on 31st December, 2022
Slide 26: 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 integrated stainless steel plant at Jajpur, Odisha. The complex Goutam Chakraborty / Shr
Slide 27: Thank You
Thank You 26