Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q4 FY21 Earnings Presentation
26 slides from Jindal Stainless's earnings presentation, May 21, 2021
Slide 1: Exchange filing cover letter: revised earnings presentation
21st May, 2021 BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot no. C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai-400051 Ph. 022
Slide 2: Q4 & FY21 Earnings Presentation
JINDAL STAINLESS LTD and JINDAL STAINLESS (HISAR) LTD Q4 & FY21 Earnings Presentation May 19, 2021
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which has been prepared by Jindal Stainless Limited/Jindal Stainless (Hisar) Limited (referred to “respective company (ies)”) for this joint earning presentation, are purely for information purposes only and is not, and i
Slide 4: Q4 & FY21 Results Overview
Q4 & FY21 Results Overview 3
Slide 5: COVID-19 relief efforts by Jindal Stainless
COVID-19 relief efforts by Jindal Stainless Jindal Stainless consistently supplying Liquid Medical Oxygen (LMO) of ~9.5 MT from Hisar plant (JSHL) and 40 MT from its Jajpur plant (JSL) each day to 50+ medical facilities in Haryana, Delhi- NCR , Odisha, Andhra Pradesh, and other states to serve the
Slide 6: JSL: Key Financials Highlights – Q4 & FY21
JSL: Key Financials Highlights – Q4 & FY21 Net Revenue from operations EBITDA 1,396 12,320 11,679 1,175 445 521 2,904 3,452 3,810 241 Q4 FY20 Q3 FY21 Q4 FY21 FY20 FY21 Q4 FY20 Q3 FY21 Q4 FY21 FY20 FY21 Shift (%) QoQ: 10% YoY: 31% (5%) Shift (%) QoQ: 17% YoY: 116% 19% PAT 428 265 153 152 -22 Q4 FY20
Slide 7: JSL: Key Operational Update – Q4 & FY21
JSL: Key Operational Update – Q4 & FY21 Sales Volume (MT) 916 825 Thousands 221 251 255 Q4 FY20 Q3 FY21 Q4 FY21 FY20 FY21 Shift (%) QoQ: 2% YoY: 15% (10%) Sales Composition – Q4 FY21 Sales Composition – FY21 Export Export 16% 19% Domestic Domestic 84% 81% 6 Note: Standalone financials
Slide 8: JSL: Q4 & FY21 Financial and Operational Discussions (Standalone)
JSL: Q4 & FY21 Financial and Operational Discussions (Standalone) Revenue for Q4 & FY21 stood at Rs. 3,810 crore & Rs. 11,679 crore respectively o Despite a challenging business environment, sales volume for FY21 stood at 824,825 MT EBITDA for Q4 & FY21 stood at Rs. 521 crore & Rs. 1,396 crore r
Slide 9: JSHL: Key Financials Highlights – Q4 & FY21
JSHL: Key Financials Highlights – Q4 & FY21 Net Revenue from operations EBITDA 8,340 8,400 1,003 862 2,822 2,758 351 364 2,030 174 Q4 FY20 Q3 FY21 Q4 FY21 FY20 FY21 Q4 FY20 Q3 FY21 Q4 FY21 FY20 FY21 Shift (%) QoQ: (2%) YoY: 36% 1% Shift (%) QoQ: 4% YoY: 110% 16% PAT 478 320 226 190 94 Q4 FY20 Q3 FY2
Slide 10: JSHL: Key Operational Update – Q4 & FY21
JSHL: Key Operational Update – Q4 & FY21 Sales Volume (MT) Thousands 600 577 149 191 182 Q4 FY20 Q3 FY21 Q4 FY21 FY20 FY21 Shift (%) QoQ: (5%) YoY: 23% (4%) Sales Composition – Q4 FY21 Sales Composition – FY21 Export Export 8% 8% Domestic Domestic 92% 92% 9 Note: Standalone financials
Slide 11: JSHL: Q4 & FY21 Financial and Operational Discussions (Standalone)
JSHL: Q4 & FY21 Financial and Operational Discussions (Standalone) Q4 & FY21 revenue stood at Rs. 2,758 crore and Rs. 8,400 crore respectively o Despite Pandemic related challenges, sales volume for FY21 recorded at 576,631 MT EBITDA for Q4 & FY21 stood at Rs. 364 crore and Rs.1,003 crore respec
Slide 12: Key Raw Materials – Price Trend
Key Raw Materials – Price Trend Nickel (USD/MT) 17,573 15,450 15,930 15,930 14,210 12,723 12,215 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q3FY21 Q4FY21 Note: Average quarterly prices; Source: LME Fe Chrome (Rs/MT) 94,675 65,583 68,775 61,800 60,950 63,875 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 11 Note:
Slide 13: Management Comment
Management Comment “Our agile business strategy throughout the year, despite the pandemic induced challenges, has helped Jindal Commenting on the Stainless deliver a strong performance. A steady demand in performance, Mr. the domestic market across segments during the fourth Abhyuday Jindal, Managin
Slide 14: JSL: Debt Position & Key Ratios
JSL: Debt Position & Key Ratios Borrowings (Standalone) As on As on As on (Rs. crore) Mar. 2021 Mar.2020 Mar.2019 Long term debt 1530 2,357 2,050 Net Debt/Equity Inter corporate loan from 1,050 900 900 1.7 related party# 1.4 OCRPS* - - 695 0.9 Total Long term debt 2,580 3,257 3,645 Short term borrow
Slide 15: JSHL: Debt Position & Key Ratios
JSHL: Debt Position & Key Ratios Borrowings (Standalone) As on March As on March As on March (Rs. crore) 2021 2020 2019 Net Debt/Equity 1.4 Long term debt 1,250 1,929 2,109 1.1 Short term borrowing (less than 127 90 72 0.6 12 months) Total Debt 1,376 2,019 2,181 Cash & Investments 8 19 19 Net Debt 1
Slide 16: Merger Overview: Complementing strengths
Merger Overview: Complementing strengths JSL JSHL Jajpur, Odisha Hisar, Haryana Key Plant Location Raw Material Hub, Port Proximity Key Consumption Hub Proximity 1.1 MTPA Integrated facility along with 0.8 MTPA with Specialized Product backward integration (Ferro Chrome and Division (SPD) including
Slide 17: Merged Entity Pro-forma Financials
Merged Entity Pro-forma Financials SS conglomerate with 1.9 mtpa capacity Improved performance in Last 9 months* Revenue Revenue : 19,175 17,233 17% 14,690 EBITDA : 2,408 Interest : 609 FY20 FY21 Net Debt : 3,125 609 EBITDA 2,291 1,508 52% Net Debt/ Equity : 0.5 Net Debt/ EBITDA : 1.3 FY20 FY21 * La
Slide 18: JSL, JSHL Merger: Progressing Well
JSL, JSHL Merger: Progressing Well APPOINTED DATE • April 1, 2020 • Board approval of the scheme of arrangement MAJOR EVENTS • Stock Exchanges/SEBI approval EXPECTED COMPLETION • Shareholders and Creditors approvals IN H2 FY22 • NCLT approval • Implementation of Scheme • Received Stock Exchanges/SEB
Slide 19: Proposed Structure Post Merger
Proposed Structure Post Merger Public Promoter 42.9% 57.1% ● Merger of JSHL into JSL JSL JSHL ● Swap ratio 1:1.95 PT Jindal Stainless 99.9% Indonesia 65% Subsidiaries /Investment ● Merger of JSL Lifestyle (mobility business), JSL Iberjindal S.L, Spain Media and JSCMS into JSL JSL Lifestyle (mobility
Slide 20: JSL: Abridged P&L Statement (Standalone)
JSL: Abridged P&L Statement (Standalone) YoY YoY Particular (Rs. crore) Q4 FY21 Q4 FY20 FY21 FY20 Change (%) Change (%) Revenue from operations 3,810 2,904 31% 11,679 12,320 (5%) Total Expenditure 3,288 2,662 24% 10,283 11,145 (8%) EBITDA 521 241 116% 1,396 1175 19% EBITDA/ton 20,438 10,917 87% 16,9
Slide 21: JSL: Abridged P&L Statement (Consolidated)
JSL: Abridged P&L Statement (Consolidated) YoY YoY Particular (Rs. crore) Q4 FY21 Q4 FY20 FY21 FY20 Change (%) Change (%) Revenue from operations 3,914 3,094 26% 12,188 12,951 (6%) Total Expenditure 3,371 2,873 17% 10,764 11,811 (9%) EBITDA 542 222 145% 1,424 1139 25% EBITDA margin (%) 13.9% 7.2% 67
Slide 22: JSHL: Abridged P&L Statement (Standalone)
JSHL: Abridged P&L Statement (Standalone) YoY YoY Particular (Rs. crore) Q4 FY21 Q4 FY20 FY21 FY20 Change (%) Change (%) Net revenue from operations 2,758 2,030 36% 8,400 8,340 1% Total Expenditure 2,394 1,857 29% 7,397 7,478 (1%) EBITDA 364 174 110% 1,003 862 16% EBITDA/ton 19,952 11,669 71% 17,387
Slide 23: JSHL: Abridged P&L Statement (Consolidated)
JSHL: Abridged P&L Statement (Consolidated) YoY YoY Particular (Rs. crore) Q4 FY21 Q4 FY20 FY21 FY20 Change (%) Change (%) Net revenue from operations 3,103 2,246 38% 9,400 9,379 0% Total Expenditure 2,697 2,064 31% 8,273 8,444 (2%) EBITDA 406 182 122% 1,127 935 21% EBITDA margin (%) 13.1% 8.1% 495
Slide 24: Shareholding Pattern
Shareholding Pattern JSL JSHL Floating Stock (%) Floating Stock (%) Retail & FII FII Others Retail & Promoters 20.7% Others Other 13.2% 11.4% Other 68.1% Promoters 17.6% 31.9% 42.3% 57.7% DII DII 7.3% 4.0% 23 Note – Data as on 31st March 2021
Slide 25: Contact Us
Contact Us Jindal Stainless Ltd.: Jindal Stainless Ltd. (JSL) is amongst the leading stainless steel manufacturing companies in the world and India's largest stainless steel manufacturer. The Company operates an Goutam Chakraborty / Shreya Sharma integrated stainless steel plant at Jajpur, Odisha. T
Slide 26: Thank You
Thank You 25