Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q3 FY2025 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Jan 27, 2025
Slide 1: Stock exchange intimation letter
E-Communication MSL/ SEC/ SE/202 4-25 27 January 2025 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 2024
Earnings Presentation Quarter ending 31 December 2024 27 January 2025 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% 1465 276 280 1600 1382 1410 280 231 24% 1259 1216 26% 23% 126 18% 20% 800 140 12% Rs. crore Rs. crore 11% 0 0 0% Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q3 FY25 Q2 FY25 Q3 FY24 Revenue from operations 1408 1291 1430 • United Seamless Tubulaar Pvt. Add: Other income 2 91 35 Ltd. (USTPL) had been Total revenue amalgamated with 1410 1382 1465 Maharashtra Seamless Ltd. (MSL) vide order of Na
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 15% 23% 20% 20% 2316 446 18% 2400 500 10% Rs. crore Rs. crore 603 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 Q3 FY25 Q2 FY25 Q3 FY24 9M FY25 9M FY24 FY24 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 122 10 107 27 98 28 324 62 299 76 394 100 Sales (kMT) 124 18 107 21 107 28 324 64 302 77 399 103 EBITDA (Rs. Cr)
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q3 FY25 Q2 FY25 Rs. crore 15 12 12 16 5 3 Total Total EBIDTA - 280 EBIDTA - 231 Seamless 248 200 ERW Renewable Energy Q3 FY24 FY24 15 12 67 45 Rig 18 76 Total Total EBIDTA - 370 EBIDTA - 1223 325 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 December 24 March 24 March 23 Preference / Preference / Preference / Equity Equity Equity ICD ICD ICD Related Parties Jindal Premium Connections 4 4 4 3 4 3 MSL Finance 3 - 3 - 3 - Maharashtra Sea
Slide 12: Key Balance Sheet Items
Key Balance Sheet Items Liquid investments Rs. crore Particulars Dec 24 March 24 March 23 •Investments in bonds are sub-divided Long duration into tax free bonds, perpetual bonds Bonds & NCD 648 696 291 and corporate bonds. Corporate Deposits (LIC & ICICI) 20 20 - Listed Equity Investments 20 22 8 •
Slide 13: Key Balance Sheet Items: Borrowings – Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars Dec 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 Telan
Slide 14: Key Balance Sheet Items
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars December 24 March 24 March 23 Discovery Drilling NIL NIL 181 •No corporate guarantees outstanding from 31 March 2024 onwards. •The timeline committed to shareholders 3 years ago for complete discharge of all corpora
Slide 15: Capital Allocation
Capital Allocation Industry and Market 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 Rs. 20 crore 80 (USTPL
Slide 16: Order book of MSL as on 20 January 2025
Order book of MSL as on 20 January 2025 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 519* - 52 571 34% orders of Rs. 82 crore ^Includes cylinder pipes Others 777 178^ 148 1103 66% orders of Rs. 102 crore Total 1296 178 200 1674 100% Our order book is s
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 2025 to 104 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 and infrastructure growth. Strat
Slide 20: Shareholding Structure – 31 December 2024
Shareholding Structure – 31 December 2024 18.95% 68.07% Key changes – Q3 FY25 v/s Q2 FY25 3.86% • Promoter holding increased to 68.07% Promoters 9.12% • FII holding increased from 7.97% to 9.12% FII • DII holding decreased from 4.38% to 3.86% DII Others • FII + DII increased from 12.35% to 12.98% •
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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