Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q3 FY2024 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Jan 30, 2024
Slide 1: E-Communication cover letter to stock exchanges
E-Communication MSL/ SEC/ SE/2022 -23 29 January 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 Prese
Slide 2: Earnings Presentation Quarter ending 31 December 2023
Earnings Presentation Quarter ending 31 December 2023 29 January 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 405 370 36% 312 333 1654 1564 1355 1465 245 244 1600 1256 270 24% 26% 20% 22% 18% 19% 800 135 12% Rs. crore Rs. crore 0 0 0% Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q3 FY24 Q2 FY24 Q3 FY23 Revenue from operations 1430 1535 1337 • United Seamless Tubulaar Pvt. Add: Other income 35 29 18 Ltd. (USTPL) had been Total revenue amalgamated with 1465 1564 1355 Maharashtra Seamless Ltd. (MSL) vide order of N
Slide 8: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 6600 5790 1200 1038 45% 4065 4400 800 30% 603 446 2316 2200 400 20% 15% 18% Rs. crore Rs. crore 15% 0 0 0% FY21 FY22 FY23 FY21 FY22 FY23 PAT & PAT margin EPS (on ex-bonus basis) 793 75 840 711 30% 59 53 50 560 20% 18% 280
Slide 9: Operational & Financial Performance
Operational & Financial Performance Particulars Q3 FY24 Q2 FY24 Q3 FY23 9M FY24 9M FY23 FY23 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 98 28 107 27 97 21 299 76 313 53 431 85 Sales (kMT) 107 28 105 28 99 24 302 77 319 54 436 82 EBITDA (Rs. Cr) 325
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q3 FY24 Q2 FY24 Rs. crore 15 12 16 11 18 16 Total Total EBIDTA - 370 EBIDTA - 333 Seamless 325 290 ERW Renewable Energy Q3 FY23 FY23 59 15 Rig 14 6 69 24 Total Total EBIDTA - 245 EBIDTA - 1038 201 895 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars December 23 March 23 March 22 Preference / Preference / Preference / Equity Equity Equity ICD ICD ICD Investments 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 Dec 23 March 23 March 22 Long duration Bonds & NCD 436 291 307 •Investments in bonds are sub-divided into tax free bonds, perpetual bonds Corporate Deposits (LIC & ICICI) 20 - - and corporate bonds. Listed Equity Investments 21 8 16 (A
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars Dec 23 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, loans taken for Gross Debt (A) - 244 633 Telangana
Slide 14: Key Balance Sheet Items – Corporate Guarantee reduction schedule
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars Actual Projected March 22 March 23 December 23 March 24 June 24 Sep 24 Discovery Drilling 218 181 136 118 101 - •Corporate guarantee outstanding of Rs. 136 crore (~ USD 16.35 mn) is for bank loan availed by Discover
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 26 January 2024
Order book of MSL as on 26 January 2024 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 528* 2 14 544 35% orders of Rs. 157 crore ^Includes cylinder pipes Others 668 117^ 234 1019 65% orders of Rs. 98 crore Total 1196 119 248 1563 100% We expect margins t
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 December 2023
Shareholding Structure – 31 December 2023 17.33% 67.86% Key changes – Q3 FY24 v/s Q2 FY24 4.31% • FII holding increased from 7.98% to 10.50% Promoters 10.50% • Mutual fund holding increased from 2.72% to 2.75% FII • FII + DII holding increased from 12.36% to 14.81% DII Others • No. of FIIs increased
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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