Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q1 FY25 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Jul 29, 2024
Slide 1: Exchange filing cover letter: Earnings Presentation
E-Communication MSL/ SEC/ SE/202 4-25 29 July 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 Presenta
Slide 2: Earnings Presentation Quarter ending 30 June 2024
Earnings Presentation Quarter ending 30 June 2024 29 July 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% 333 1564 1465 276 1600 1256 1259 280 244 24% 1216 26% 22% 23% 20% 126 800 140 12% Rs. crore Rs. crore 11% 0 0 0% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q1 FY25 Q4 FY24 Q1 FY24 Revenue from operations 1151 1215 1223 • United Seamless Tubulaar Pvt. Add: Other income 65 44 33 Ltd. (USTPL) had been Total revenue amalgamated with 1216 1259 1256 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 Q1 FY25 Q4 FY24 Q1 FY24 FY24 FY23 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 95 25 95 24 94 21 394 100 432 85 Sales (kMT) 94 25 97 26 90 21 399 103 436 82 EBITDA (Rs. Cr) 84 13 216 31 204 11 1035 76 895 69 EBITDA/
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q1 FY25 Q4 FY24 Rs. crore 12 18 11 17 31 Total 13 Total EBIDTA - 126 84 EBIDTA - 276 Seamless 216 ERW Renewable Energy Q1 FY24 FY24 Rig 18 11 67 45 76 11 Total Total EBIDTA - 244 EBIDTA - 1223 204 1035 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars June 24 March 24 March 23 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 Seamles
Slide 12: Key Balance Sheet Items – Liquid investments
Key Balance Sheet Items Liquid investments Rs. crore Particulars June 24 March 24 March 23 •Investments in bonds are sub-divided Long duration into tax free bonds, perpetual bonds Bonds & NCD 705 696 291 and corporate bonds. Corporate Deposits (LIC & ICICI) 20 20 - Listed Equity Investments 24 22 8
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars June 24 March 24 March 23 Loan for Telangana plant acquisition - - - • In view of sufficient internal accruals and Loan for rig acquisition - - 244 rising interest rates, long term loans taken for Gross Debt (A) - - 244 Tela
Slide 14: Key Balance Sheet Items – Corporate Guarantee reduction
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars June 24 March 24 March 23 Discovery Drilling NIL NIL 181 •No corporate guarantees outstanding from 31/03/2024 onwards. •The timeline committed to shareholders 2.5 years ago for complete discharge of all corporate gu
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 July 2024
Order book of MSL as on 25 July 2024 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 917* - - 917 51% orders of Rs. 144 crore ^Includes cylinder pipes Others 561 243^ 91 895 49% orders of Rs. 201 crore Total 1478 243 91 1812 100% Our order book is support
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 – 30 June 2024
Shareholding Structure – 30 June 2024 17.39% 68.00% Key changes – Q1 FY25 v/s Q4 FY24 5.38% • Promoter holding remained at 68.00% Promoters • FII holding decreased from 11.97% to 9.23% FII 9.23% • DII holding increased from 3.95% to 5.38% DII Others • FII + DII decreased from 15.90% to 14.60% • No.
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