Jai Balaji Industries Limited · NSE:JAIBALAJI
Jai Balaji Industries — Q4 FY25 Earnings Presentation
45 slides from Jai Balaji Industries's earnings presentation, May 13, 2025
Slide 1: Stock exchange intimation letter
^ JAI BALAJI INDUSTRIES LIMITED Ref : JBIL/SE/2025-26 Date : 13th May 2025 To To The Manager The Manager, Listing Department, Dept, of Corporate Services National Stock Exchange of India Limited BSE Limited "EXCHANGE PLAZA", C -l, Block G Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (E) Da
Slide 2: Jai Balaji Industries Ltd. Q4 & FY25 Investor Presentation
JAI BALAJI INDUSTRIES LTD. (JBIL) Creating a better tomorrow, Today! Q4 & FY25 Investor Presentation (May’2025)
Slide 3: This presentation and the accompanying slides (the “Presentation”), which have been prepared by Jai
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Jai Balaji Industries Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not f
Slide 4: Agenda
1 About the Company 04 - 09 2 Q4 & FY25 Performance Highlights 10 - 19 3 Investment Thesis 20 - 31 4 Annexure 32 - 44
Slide 5: Message from Mr. Aditya Jajodia
“Despite industry-wide challenges in FY25, particularly a temporary slowdown in government orders, we delivered a resilient performance and continued to strengthen our core competencies. Our strategic focus on the value-added segments of DI Pipes and Specialized Ferro Alloys remains unwavering, and
Slide 6: About the Company
About the Company
Slide 7: One of the largest manufacturers of value-added products
One of the largest manufacturers of Value-added products (DI Pipes & Specialized Ferro Alloys) in 3 Star Export House; Exporting to more than 40 the private sector in Eastern India. Countries One of the largest manufacturers of Value-added products (DI Pipes & 4 manufacturing units present Specializ
Slide 8: Objective and Targets
Objective Target o Capacity enhancement - - DI Pipes capacity expected to grow to 6L TPA Focus on DI Pipes, - Ferro Alloys capacity is expected grow to 1.9L TPA Specialized Ferro Alloys and Value-added Products o Achieved Target of increasing utilization rate above 85%; the goal now is to maintain t
Slide 9: Focus on value-added products
Ductile Iron Pipes Specialized Ferro Alloys Management’s strategy is to focus on Value-Added Products like Ductile Iron Pipes and Specialized Ferro Alloys for margin expansion and sustainability JBIL is focused on being a Value-Added and Specialized Product company 8
Slide 10: FY26 targets
01 - Revenue Growth 02 - DI Pipes Production 25%-30% Over 4 Lakh Tons 02 01 03 04 – EBITDA Margin 04 03 – CAPEX 16%-17% Rs. 1,750 Million 9
Slide 11: Q4 & FY25 Performance Highlights
Q4 & FY25 Performance Highlights
Slide 12: Performance Snapshot
Performance Snapshot Strategic Net Term Debt Reduction Robust Capex Plan o FY25 Financial Performance o Net Term Debt as on 31st o Strong Capex plan of Rs. (YoY) – Revenue, Adjusted Mar’25 is Rs. 2,214 Mn. The 10,000 Mn in place – out of this EBITDA and PAT decreased company has been sanctioned Rs.
Slide 13: Net Term Debt
Net Term Debt (Rs. Mn) Present Debt pertains to Kotak Mahindra Bank, Tata Capital Limited and co-lenders 34,079 31,496 FY25 Net Debt to EBITDA = 0.25x (Performed significantly better than the expectation to maintain Net Debt to EBITDA at around 0.6 on 31st March’2025 guided earlier) 8,712 JBIL conti
Slide 14: Capex status
Capex (in Rs. Mn.) Capacity After Products (Location) Existing Capacity Capacity Addition Current Status Expansion Balance to be Total Already incurred incurred Capitalized Under CWIP Specialized Products In Q3FY25 capacity was 3 lakh T. Further, 2,04,000 T has DI Pipes 504,000 TPA 96,000 TPA 600,00
Slide 15: FY25 and Quarter Highlights
Revenue Adjusted EBITDA & Margin (%)* PAT & PAT Margin (%) 14% 9% 15% 5% Quarter Highlights 18,456 15,895 2,730 2,574 1,363 755 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 15% 14% 14% 9% 64,138 63,508 FY25 Highlights 9,752 8,721 8,796 5,579 FY24 FY25 FY24 FY25 FY24 FY25 14 Numbers are in Millions unle
Slide 16: Production and sales
Sponge Iron (‘000 T) Pig Iron (‘000 T) Billets (‘000 T) 543 166 237 247 Production 144 429 152 114 70 64 41 39 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 182 159 203 78 65 153 59 Sales 45 50 38 20 13 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25
Slide 17: Production and sales: TMT, Ferro Alloys, DI Pipes
TMT (‘000 T) Ferro Alloys (‘000 T) DI Pipes (‘000 T) 124 282 253 115 242 Production 220 82 33 30 69 69 58 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 249 239 257 216 84 Sales 74 75 66 72 58 22 19 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 Q4FY24 Q4FY25 FY24 FY25 16
Slide 18: Realisations per ton
Sponge Iron Pig Iron Billets 37,677 26,957 35,274 26,691 26,002 42,626 32,929 28,954 39,139 39,765 39,413 39,265 40,473 27,209 35,939 Q4FY24 Q3FY25 Q4FY25 FY24 FY25 Q4FY24 Q3FY25 Q4FY25 FY24 FY25 Q4FY24 Q3FY25 Q4FY25 FY24 FY25 TMT Ferro Alloys DI Pipes 188,142 45,743 45,091 44,849 46,995 176,311 45,
Slide 19: Profit and loss statement
Particulars (Rs. Million) Q4FY25 Q4FY24 YoY Q3FY25 QoQ FY25 FY24 YoY Revenue from Operations 15,895 18,456 -14% 14,864 7% 63,508 64,138 -1% Cost of Goods Sold 10,771 11,891 -9% 9,540 13% 40,658 41,436 -2% Employee Benefits Expense 480 352 37% 448 7% 1,765 1,543 14% Other Expenses 3,315 3,805 -13% 2,
Slide 20: Balance sheet
Particulars (Rs. Million) 31st Mar'25 31st Mar'24 Particulars (Rs. Million) 31st Mar'25 31st Mar'24 ASSETS EQUITY AND LIABILITIES Non Current assets EQUITY (a) Property, Plant and Equipment 16,095 13,773 (a) Equity share capital 1,825 1,637 (b) Capital work-in-progress 1,274 1,162 (b) Other equity 1
Slide 21: Investment Thesis
Investment Thesis
Slide 22: Investment thesis
Fully Integrated Strong Financial & 1 5 Operations Operational Performance Significant Capacity 2 Cost Effective Enhancement through 6 Logistics Infrastructure Internal Accruals Capacity Expansion in Strategic Location 3 DI Pipes & Specialized 7 of Assets Ferro Alloys 4 Progress towards Net Term 8 C
Slide 23: Backward integration and high margin products
Value-added & Backward Integration Intermediate & Finished Products Specialized Products Sinter Sponge Iron Steel Billets Ductile Iron Pipes HIGH MARGIN PRODUCTS Capacity = 908,000 T Coke Capacity = 345,000 T Capacity = 394,000 T Capacity = 504,000 T Pig Iron TMT Bars Ferro Alloys Capacity = 350,000
Slide 24: DI Pipes industry and government programs
DI Pipes Industry is expected to grow at 13%-15% CAGR Industry in near future. It is used for water transportation and drainage system “JAL JEEVAN MISSION” and “MISSION AMRUT Government SAROVAR” infrastructure development plan has led Programs to increased requirement of DI Pipes and Jai Balaji is c
Slide 25: Specialized Ferro Alloys
Continuing exports of Ferro Alloys to major countries around the world and secured 3 Star Export House Status Features of our High-Grade Ferro Alloys o High chrome content o Lower carbon content o Lower trace elements o Lower sulphur/phosphorus Revenues from Sold at Specialized Ferro significant All
Slide 26: Revenue, gross profit, EBITDA and PAT trends
Revenue Gross Profit 25,000 Gross Profit Gross Margin 40% 35% 36% 35% 20,000 29% 30% 30% 26% 15,000 25% 64,138 63,508 20% 61,251 22,702 22,851 10,000 15% 46,925 18,255 13,680 10% 27,852 5,000 7,158 5% - 0% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Adjusted EBITDA* Profit After Tax 12,000 15%
Slide 27: Return on Capital Employed and Return on Equity
Return on Capital Employed Return on Equity 58% 48% 39% 33% 26% NEGATIVE NEGATIVE 10% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 26 ROCE = EBIT/Capital Employed; ROE = PAT/Shareholders Fund
Slide 28: Capacity utilization
Sponge Iron Pig Iron Billets 73% 72% 45% 69% 42% 60% 62% 39% 94% 99% 86% 80% 71% 26% 26% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 TMT Ferro Alloys DI Pipes 89% 91% 84% 97% 97% 93% 64% 83% 85% 86% 75% 52% 60% 53% 43% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25
Slide 29: Capacity Expansion Plans
Capacity Expansion Plans (Tons) Lowest cost capacity expansion A plans, Economies of scale, DI Pipes Operational efficiencies 600,000 504,000 Setting up of Iron ore beneficiation B plant of 6Lac Tons which will be 300,000 240,000 utilized for beneficiation of low grade iron ore dump C Cost effective
Slide 30: Railway sidings
1 2 3 JBIL is the one of Have dedicated Approx. 3 tons of the few companies Railway Sidings raw material is with Railway Sidings at both loading in required for every 1 and has 3 Railway Odisa and ton of steel & Co. Sidings which leads unloading at our saves significant to increased plant. costs by
Slide 31: Plant locations
Installed Plant Location Facilities Products Capacity (MT) • Ferro Alloys • Ferro Silicon • 30,118 Baktarnagar, Alloys/Ferro Chrome Unit I Burdwan, • DRI • Sponge Iron • 1,05,000 West Bengal • Power • Power • 18.3 MW • Pig Iron • Blast Furnace • 5,49,500 Rajbandh, • DIP • Ductile Iron Pipe • 5,04,00
Slide 32: Strategy going forward
Continuously working on improving operational 1 Lowest cost Capex 3 efficiencies, cost reduction, through internal accruals modernization/technological upgradation Focusing more on Value-added products like DI Pipes and Sustained Focus on Net Term Specialized Ferro Alloys for 2 Debt Reduction for a
Slide 33: Annexure
Annexure
Slide 34: Strategic steps
Improving Operational Efficiencies Balance Sheet Strengthening Strategic Steps 1 2 3 4 5 Increasing Increased Sustained Focus Promoters Expansion of Capacity focus on on Net Term Debt subscribing to capacities of Utilizations production of Reduction for a share warrants value-added via Value-Added S
Slide 35: Process flow and sales channels
Manganese Ore/ Non-coking Coal Iron Ore Lumps /Fines Coking Coal Chrome Ore. DRI Sinter Coke Oven Ferro Alloys Sales Channel Induction Furnace & Pig Iron / Hot metal Free Fuel Billet From Blast Furnace Material Movement CPP Captive Power 101.10 MW Waste Gases from BF under TMT / Bars/ Wire Rods Duct
Slide 36: SWOT analysis
Strengths Weakness Opportunities Threats S W O T o Fully integrated steel company o Weak performance in the o Strengthening of Special Grade o Ongoing inflation o Diversified product range past Ferro Alloys market o Geopolitical Instability o Experienced leadership o Commodity price impacts o “Jal J
Slide 37: Board of Directors
Mr. Aditya Jajodia Mr. Sanjiv Jajodia Mr. Rajiv Jajodia Mr. Gaurav Jajodia Mr. Bimal Kumar Choudhary Chairman & Managing Director Whole Time Director Whole Time Director Whole Time Director Executive Director Mr. Ashim Kumar Mr. Rajendra Prasad Mr. Pradip Kumar Ms. Swati Bajaj Ms. Mamta Jain Mukherj
Slide 38: Historical production
Sponge Iron Pig Iron Billets 543,185 176,038 252,290 166,271 242,489 237,157 246,770 479,468 149,815 152,390 447,444 438,461 428,638 208,621 214,563 362,551 103,708 101,778 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 TMT Ferro Alloys DI Pipes 281,913 123
Slide 39: Historical sales
Sponge Iron Pig Iron Billets 181,604 273,055 90,965 256,661 159,528 158,650 232,687 235,363 74,268 75,070 78,003 127,404 131,791 132,340 203,323 65,218 59,496 152,871 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 TMT Ferro Alloys DI Pipes 248,694 77,017 77
Slide 40: Historical realisations per ton
Sponge Iron Pig Iron Billets 45,642 34,058 32,522 40,527 39,139 47,903 28,954 35,939 44,580 42,626 27,209 40,473 22,039 28,468 25,176 31,381 18,397 27,516 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 TMT Ferro Alloys DI Pipes (Including Freight) 53,720 17
Slide 41: Five-year profit and loss
Particulars (Rs. Million) FY25 FY24 FY23 FY22 FY21 Revenue from Operations 63,508 64,138 61,251 46,925 27,852 Cost of Goods Sold 40,658 41,436 42,996 33,245 20,693 Employee Benefits Expense 1,765 1,543 1,288 1,089 887 Other Expenses 12,418 12,096 14,405 10,508 5,318 EBITDA 8,668 9,063 2,562 2,083 95
Slide 42: Five-year balance sheet
Equity & Liabilities Assets Particulars (Rs. Million) FY25 FY24 FY23 FY22 FY21 Particulars (Rs. Million) FY25 FY24 FY23 FY22 FY21 Equity & Liabilities Assets Equity Non‐Current Assets - Property, Plant and Equipment 16,095 13,773 11,268 11,601 11,766 Share Capital 1,825 1,637 1,455 1,105 1,105 Right
Slide 43: Community and CSR activities
World Environment Day Celebration Tree Plantation Free Distribution of Artificial Limbs Use of Artificial Limb Callipers Health Check-ups Organised Scholarship for Young Generation 42
Slide 44: Share Holding Pattern
Share Holding Pattern Sr. No. Category of Shareholders No. of Shares Held Holding (%) 1 Promoter & Promoter Group 59,15,20,230 64.84% 31.49% 2 Public a Domestic Institutions 9,82,901 0.11% b Foreign Portfolio Investors 3,24,92,692 3.56% 3.56% 64.84% c Non-Institutions 28,72,55,607 31.49% 0.11% Total
Slide 45: Investor Relations and Company Contact
Investor Relations Contact: Sana Kapoor Go India Advisors sana@GoIndiaAdvisors.com M:+91 81465 50469 Sheetal Khanduja Go India Advisors sheetal@GoIndiaAdvisors.com M:+91 97693 64166 Company Contact: Mr. RK Sharma - CFO r.k.sharma@jaibalajigroup.com Mr. Ajay Tantia – CS atantia@jaibalajigroup.com Mr.
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