Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q2 FY2025 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Oct 28, 2024
Slide 1: E-Communication to stock exchanges
E-Communication MSL/ SEC/ SE/202 4-25 28 October 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 30 September 2024
Earnings Presentation Quarter ending 30 September 2024 28 October 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 1259 1382 280 231 24% 1216 26% 22% 23% 126 18% 800 140 12% Rs. crore Rs. crore 11% 0 0 0% Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q2 FY25 Q1 FY25 Q2 FY24 Revenue from operations 1291 1151 1535 • United Seamless Tubulaar Pvt. Add: Other income 91 65 29 Ltd. (USTPL) had been Total revenue amalgamated with 1382 1216 1564 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 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 Q2 FY25 Q1 FY25 Q2 FY24 H1 FY25 H1 FY24 FY24 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 107 24 95 25 107 27 202 49 201 48 394 100 Sales (kMT) 107 21 94 25 105 28 200 46 195 49 399 103 EBITDA (Rs. Cr)
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q2 FY25 Q1 FY25 Rs. crore 12 12 16 3 17 Total Total 13 EBIDTA - 231 EBIDTA - 126 84 Seamless 200 ERW Renewable Energy Q2 FY24 FY24 16 11 67 45 Rig 16 76 Total Total EBIDTA - 333 EBIDTA - 1223 290 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 September 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 Se
Slide 12: Key Balance Sheet Items
Key Balance Sheet Items Liquid investments Rs. crore Particulars Sep 24 March 24 March 23 •Investments in bonds are sub-divided Long duration into tax free bonds, perpetual bonds Bonds & NCD 715 696 291 and corporate bonds. Corporate Deposits (LIC & ICICI) 20 20 - Listed Equity Investments 23 22 8 •
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars Sep 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 September 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 corpor
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 20 October 2024
Order book of MSL as on 20 October 2024 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 788* - - 788 46% orders of Rs. 63 crore ^Includes cylinder pipes Others 676 139^ 97 912 54% orders of Rs. 78 crore Total 1464 139 97 1700 100% Our order book is suppor
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 September 2024
Shareholding Structure – 30 September 2024 19.61% 68.04% Key changes – Q2 FY25 v/s Q1 FY25 4.38% • Promoter holding increased to 68.04% Promoters • FII holding decreased from 9.23% to 7.97% FII 7.97% • DII holding decreased from 5.38% to 4.38% DII Others • FII + DII decreased from 14.61% to 12.35% •
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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