Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q4 FY2022 Earnings Presentation
23 slides from Maharashtra Seamless's earnings presentation, May 27, 2022
Slide 1: Exchange filing cover letter for earnings presentation
MSL/SEC/SE/2022-23 May 27, 2022 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 Stock Code: MAHSEAMLES Sub: Earnings Presentation Dear Sir/Mada
Slide 2: Earnings Presentation Quarter & year ending 31 March 2022
Earnings Presentation Quarter & year ending 31 March 2022 27 May 2022 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 Rig Renewable Energy • MSL • New generation • Wind • 450,000 mt/annum offshore jack up rig • 7 MW at • API certified Maharashtra • USTPL • Operating with • High frequency • 100% subsidiary 98% efficiency on 3 • PSL 2 • Solar • 200
Slide 5: Products & Industries served
Products & Industries served Industries Seamless ERW Others Served Pipes Pipes (Coated & Premium Connections, Pipe Fittings) Agriculture Automotive Bearing Chemical Engineering Fertilizers Housing Irrigation Mechanical Oil and Gas Petrochemical Power Drinking Water
Slide 6: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 4000 3644 800 40% 664 3110 551 3000 600 539 30% 446 2668 2316 Rs. crore Rs. crore 2000 400 306 20% 2228 22% 21% 20% 1000 200 14% 15% 10% 0 0 0% FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Profit after tax Earnings pe
Slide 7: Quarterly Highlights – Maharashtra Seamless
Quarterly Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 1300 1195 40% 240 969 975 843 180 159 30% 124 139 637 118 Rs. crore Rs. crore 650 120 20% 19% 325 60 15% 15% 13% 10% 0 0 0% Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Profit after tax Earnings per share 160
Slide 8: Quarterly Highlights – United Seamless Tubulaar
Quarterly Highlights – United Seamless Tubulaar Total revenue EBIDTA & EBIDTA margin 300 40 36 40% 226 30 225 193 30 30% 146 17 Rs. crore Rs. crore 150 20 20% 86 9 75 10 16% 16% 10% 10% 12% 0 0 0% Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Profit after tax Earnings per share (assuming 1
Slide 9: Operational & Financial Performance
Operational & Financial Performance Maharashtra Seamless Limited (MSL) Particulars Q4 FY22 Q3 FY22 Q4 FY21 FY22 FY21 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 98 19 79 19 84 15 315 74 244 64 Sales (kMT) 100 24 80 23 71 13 315 80 235 63 EBITDA (Rs. Cr) 133 11 1
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q1 FY22 Q2 FY22 Rs. crore 6 15 15 7 Seamless 58 15 ERW 39 87 Rig Q3 FY22 Q4 FY22 Renewable Energy 13 15 5 11 8 In Q4 FY22, rig Jindal Explorer was under refurbishment. After refurbishment, rig was re- deployed under new contract in May 22. 113 133 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items – Investments & ICDs
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars March 22 March 21 •Preference shares Equity Preference / ICD Equity Preference / ICD of Rs. 500 crore & ICD of Rs. 50.51 Indian Entities crore in USTPL not Jindal Premium Connections 4 3 4 3 consi
Slide 12: Key Balance Sheet Items – Liquid investments
Key Balance Sheet Items Liquid investments – Long term & short term Rs. crore •Investments in bonds are sub-divided into Particulars March 22 March 21 tax free bonds (40%) and perpetual bonds Long term (60%) both of which have a high yield. Bonds & Debentures 307 283 •These bonds have low risk as th
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore •Loan taken for USTPL acquisition has total annual repayment of Rs. 42 crore till Particulars March 22 March 21 March 2025 and thereafter, total annual Loan for USTPL acquisition @ 6.40% p.a. 336 375 repayment of Rs. 52.50 crore till Fe
Slide 14: Key Balance Sheet Items – Corporate Guarantee & SBLC
Key Balance Sheet Items Corporate Guarantee & SBLC Rs. crore Particulars March 22 March 21 Discovery Drilling 218 257 Maharashtra Seamless (Singapore) 76 147 Total 294 404 •Corporate guarantee outstanding of Rs. 218 crore (~ USD 28.80 mn) is for bank loan availed by Discovery Drilling against rig Ji
Slide 15: Order book details as on 31 March 2022
Order book details as on 31 March 2022 Order book of MSL Rs. crore Order book of USTPL Rs. crore Segment Seamless ERW Total % Segment Seamless % Domestic 539 34 573 41% Cylinder Pipes 123 47% Export 322 35 357 25% Export 114 44% Downstream 72 220 292 21% Domestic 25 9% ONGC & OIL 191 - 189 13% Total
Slide 16: Dispatch Target & Margin Outlook for FY 2022-23
Dispatch Target & Margin Outlook for FY 2022-23 MSL FY 2021-22 FY 2022-23 Segment % increase projected Actual kMT Projected kMT Seamless 315 350 11% ERW 80 88 10% USTPL FY 2021-22 FY 2022-23 Segment % increase projected Actual kMT Projected kMT Seamless 73 120 64% •We expect margins of domestic and
Slide 17: Government Policies
Government Policies Export Duty: • Recent imposition of export duty on iron-ore & certain steel products excludes seamless & ERW pipes. • This will improve domestic raw material availability and lead to lower raw material costs. Anti-Dumping Duty: • The Ministry of Finance, on recommendation of Dire
Slide 18: MSL – Sales & Marketing Update and Industry Trends
MSL – Sales Industry & Marketing and Update Market Trends Successfully increased market penetration in USA, Canada, Europe & Middle-East on a consistent basis. There was strong demand of casing and tubing pipes as markets had re-opened after COVID-19 impact and demand reached pre-pandemic levels. In
Slide 19: USTPL – Sales & Marketing Update
USTPL – Sales Industry and & Marketing Market Update Trends Mill has been certified by American Petroleum Institute with API 5CT for Casings & Coupling Stock, API 5L for Line Pipes and API Q1 (Quality Management System) licenses. USTPL has been certified for Indian Boiler Regulations (IBR) and has a
Slide 20: Market Trends – Huge Potential
Market Trends – Huge Potential Recent sanctions on Russia have lead to revocation of API license from Russian mills by American Petroleum Institute. Additionally, the absence of Ukrainian suppliers in the market has left a huge vacuum in the seamless OCTG market. All European customers are now turni
Slide 21: Shareholding Structure – 31 March 2022
Shareholding Structure – 31 March 2022 3.41% 1.15% 67.00% Marquee investors 28.44% L & T Mutual Fund Promoters ITI Mutual Fund Others Taurus Mutual Fund DII FII Aequitas Equity Scheme Turnaround Opportunities Fund DFA Investment Dimensions Group Key points – Q4 FY 2022 Dimensional Emerging Markets V
Slide 22: Marquee Customers
Marquee Customers Oil and Gas Infrastructure www.alimtiaz.com 21
Slide 23: Investor Contacts
Investor Contacts Danish Parvaiz Bhat Chief Financial Officer Tel. No.: +91-124-4624320 E-Mail: danish@mahaseam.com Kaushal Bengani Senior Manager – Investor Relations Tel. No.: +91-124-4624177 E-Mail: kaushal@mahaseam.com www.jindal.com CIN: L99999MH1988PLC080545 22
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