Jindal Steel Limited · NSE:JINDALSTEL
Jindal Steel — Jindal Steel & Power — Q4 FY25 Earnings Presentation
43 slides from Jindal Steel's earnings presentation, Apr 30, 2025
Slide 1: Exchange filing cover letter
April 30, 2025 BSE Limited National Stock Exchange of India Limited 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 corp
Slide 2: Q4FY25 & FY25 Earnings Presentation
Jindal Steel & Power Ltd. Q4FY25 & FY25 Earnings Presentation 30th April 2025
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation may contain certain forward looking statements concerning steel sector, economy and Jindal Steel & Power Limited (JSP) future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could
Slide 4: Building a Nation of Our Dreams
BUILDING A NATION OF OUR DREAMS Over 3 Decades Of Excellence
Slide 5: JSPL at a Glance
JSPL at a Glance Growth Focussed Strong Financials Sustainability Driven • Scaling up world-class, integrated • Net Debt/EBITDA at 1.26x • World's first and largest coal steel production capacity gasification plant for steel-making • Strong liquidity of INR 5,885 cr • Innovative, value-added product
Slide 6: World-class assets – On the cusp of transformative expansion
World-class assets – On the cusp of transformative expansion Mining Iron Making 10.42 MTPA 16.82 MTPA Liquid Steel 9.6 MTPA 15.6 MTPA Finished Steel 7.25 MTPA 14.45 MTPA Flats Iron-ore Direct Reduce Iron (DRI) Steel Melting Shop (SMS) 2.5 3.0 MTPA 6.0 MTPA 1.2 MTPA 3.11 MTPA 7.5 MTPA 3.12 MTPA 5.12
Slide 7: Agenda
Agenda Performance Highlights Industry Update Operational Highlights CSR Financials Projects Update Guidance © 2025 Jindal Steel & Power. All rights reserved.
Slide 8: Performance Highlights
JinvaL? STEEL Ls 44 Performance Highlights cS ar G44 [Al
Slide 9: Consolidated Performance Highlights – FY25
Consolidated Performance Highlights – FY25 INR 58,044 cr INR 9,570 cr INR 4,248 cr Gross Revenue* Adjusted EBITDA# Adjusted Profit after Tax# 8.12 MT 7.97 MT 1.26x Highest ever Highest ever sales Net Debt to EBITDA production Other key highlights • Highest ever production at Angul: DRI, BOF & EAF •
Slide 10: Industry Update
Ls 44 cS ar G44 [Al Industry Update
Slide 11: India Remains Key to Global Steel Growth
India Remains Key to Global Steel Growth World China India 160 20% 1780 2% 900 0% 1% 15% -1% 150 1770 1% 15% -1% 880 140 1760 8% 8% -1% -1% 0% 130 10% 1750 -3% -2% -3% 1,767 120 1,772 -1% 860 1,751 1740 -3% 5% 860 869 896 110 156 143 133 1730 -2% 840 -4% 100 0% CY23 CY24E CY25E CY23 CY24E CY25E CY23
Slide 12: China – domestic steel demand weak, exports elevated
China – domestic steel demand weak, exports elevated Crude Steel Production Steel Demand (Apparent Steel Consumption) 1,200 8% 7% 6% 9% 1200 9% 8% 9% 18% 1,000 4% 1% 4% -3% 0% -1% -2% 1% 1000 0% 8% -2% -1% -2% -4% -3% -3% -6% -3% 800 -1% 800 -2% 869 873 862 928 993 1,054 1,031 1,016 1,024 991 973 76
Slide 13: India Steel – Four years of continuous double-digit demand growth
India Steel – Four years of continuous double-digit demand growth Crude Steel Capacity and Utilisation % Crude Steel Production Finished Steel Consumption 155 20% 190 85% 155 13% 14% 15% 16% 11% 12% 180 83% 13% 15% 80% 135 135 9% 10% 81% 8% 170 79% 78% 79% 9% 6% 10% 160 77% 115 115 5% 77% 5% 6% 5% 3
Slide 14: India Steel Scenario – FY25
India Steel Scenario – FY25 Crude Steel Production (mt) Finished Steel Consumption (mt) India remains net importer in FY25 • Finished Steel consumption grew at 12% +5% +12% during FY25 (both flats and longs) 152.0 reflecting strong underlying economic 144.3 152.0 136.3 growth. Consumption grew 3% se
Slide 15: Key Steel and RM Prices Trend
Key Steel and RM Prices Trend HRC: India domestic and Export FOB Coking Coal: Premium HCC (CNF Australia origin) • Domestic HRC and TMT prices HRC (INR/t) Q4FY24 Q3FY25 Q4FY25 Abs YoY Abs QoQ HCC (USD/t) Q4FY24 Q3FY25 Q4FY25 Abs YoY Abs QoQ started trending upwards in Dom Mum 53,600 47,765 48,431 -5
Slide 16: Operational Highlights
JinvaL? STEEL Ls 44 Operational Highlights cS ar G44 [Al
Slide 17: Operational highlights
Operational highlights Crude Steel Production (mt) Sales (mt) Flats as a % of +2% total sales volume 37% 41% 42% 32% 43% 7.9 8.1 +4% 7.7 8.0 +3% +6% +6% +12% 2.1 2.0 2.1 2.0 1.9 2.1 Q4FY24 Q3FY25 Q4FY25 FY24 FY25 Q4FY24 Q3FY25 Q4FY25 FY24 FY25 Domestic Sales (mt) Exports (mt) +7% Export as a % of 11
Slide 18: Sector wise, value-added sales and retail segment performance
Sector wise, value-added sales and retail segment performance Sector wise Sales distribution TMT Sales Distribution, in ‘000 tonnes Share of Number of 65% 63% 66% 3,810 4,700 4,912 VAS dealers 4% 4% 4% 606 510 598 13% 11% 14% 11% 12% 12% 45% 51% 52% 33% 31% 34% 43% 55% 49% 48% 39% 36% Q4FY24 Q3FY25
Slide 19: Transforming Customer Experience
Transforming Customer Experience Panther Connect for Samman for Nirmaan for Launched connected Salesforce Dealers influencers system for Salesforce, Dealers & Influencers • Integrated app for 360° customer view • Panther Connect helps sales team manage relationships & secure data in the cloud • Deal
Slide 20: Proud Supplier to Iconic Projects
Proud Supplier to Iconic Projects Pamban Bridge Delhi Mumbai Expressway Noida International Airport Bharat Mandapam Chenab Bridge Ganga Expressway Convention Centre Proud supplier of steel to nation to augment the vision of “Viksit Bharat” Slide 19 © 2025 Jindal Steel & Power. All rights reserved.
Slide 21: CSR
Ls 44 cS ar G44 [Al CSR
Slide 22: Empowering our Communities Achievement of FY25
Empowering our Communities Achievement of FY25 Environment and agriculture Health & Nutrition • 10,000+ farmers benefitted through modern agricultural • 64,147 adolescent girls benefited from anemia reduction equipment, training & support • 1 lakh+ children improved in BMI and school enrollment • IN
Slide 23: Awards and Recognitions
Awards and Recognitions • 7th ICC CSR Impact Award’2025 in two categories: Winners Trophy for Jindal Asha; Special Jury Award for Kishori Express • Global CSR Award 2024 by GEEF for CSR Management Company of the Year 2024 category • CSR Times Award-2024 for Sustainable Livelihood & Eradicating Extre
Slide 24: O.P. Jindal Global University, Sonipat – India’s No.1 Private University
O.P. Jindal Global University, Sonipat – India’s No.1 Private University AT A GLANCE 15,000+ 1,100+ Students Faculties 7,900+ 525+ Publications Collaborations 45+ 12 Programmes Schools India’s First Constitution Museum established at OPJGU Imparting world class education Conferred the status of an “
Slide 25: O.P. Jindal University, Raigarh – Empowering Excellence
O.P. Jindal University, Raigarh – Empowering Excellence AT A GLANCE 2,200+ 120+ Students Faculties 7,000+ 70+ Publications Collaborations 30+ 45 Research Projects Labs Academic collaborations with The University of Texas, USA; Colorado School of Mines, USA; National Institute of Technology Jamshedpu
Slide 26: Financials
Ls 44 cS ar G44 [Al Financials
Slide 27: FY25 Highlights – Consolidated
FY25 Highlights – Consolidated ₹ 58,044 cr ₹ 9,570 cr ₹ 12,008 ₹ 4,248 cr Gross revenue* FY25 Adjusted EBITDA# FY25 Adjusted EBITDA per ton FY25 Adjusted PAT FY25^ FY24 - ₹ 58,115 cr FY24 - ₹ 10,231 cr FY24 - ₹ 13,339 FY24 - ₹ 5,943 cr 8.12 MT 7.97 MT ₹ 11,957 cr 1.26 Steel Production FY25 Steel Sal
Slide 28: Q4FY25 Highlights – Consolidated
Q4FY25 Highlights – Consolidated ₹ 15,525 cr ₹ 2,482 cr ₹ 11,651 ₹ 1,099 cr Gross revenue* Q4FY25 Adjusted EBITDA# Q4FY25 Adjusted EBITDA per ton Q4FY25 Adjusted PAT Q4FY25^ Q3FY25 - ₹ 13,707 cr Q3FY25 - ₹ 2,133 cr Q3FY25 - ₹ 11,209 Q3FY25 - ₹ 951 cr Q4FY24 - ₹ 15,749 cr Q4FY24 - ₹ 2,512 cr Q4FY24 -
Slide 29: FY25 Net Debt and EBITDA bridge
FY25 Net Debt and EBITDA bridge Consolidated Net Debt Movement (INR cr) 11,203 -1,192 11,957 -6,229 8,175 As at 31st Mar’24 Debt repayment New Debt Raised Change in C&CE As at 31st Mar’25 Consolidated Adjusted EBITDA Movement (INR cr) 10,231 330 9,570 -1,805 495 88 231 FY24 Volume NSR Cost Subsidiar
Slide 30: Q4FY25 Net Debt and EBITDA bridge
Q4FY25 Net Debt and EBITDA bridge Consolidated Net Debt Movement (INR cr) 13,551 -2,222 -787 11,957 1,415 As at 31st Dec’24 Debt repayment New Debt Raised Change in C&CE As at 31st Mar’25 Consolidated Adjusted EBITDA Movement (INR cr) 2,482 2,133 198 -258 -75 231 253 Q3FY25 Volume NSR Cost Subsidiar
Slide 31: Strengthening Fundamentals to Drive Sustainable Growth
FY20 35,918 FY21 22,146 FY22 8,876 FY23 6,953 Net Debt (INR cr) Slide 30 FY24 11,203 -67% Q1FY25 10,462 Q2FY25 12,464 Q3FY25 13,551 Q4FY25 11,957 © 2025 Jindal Steel & Power. All rights reserved. FY20 4.56 FY21 1.53 FY22 0.57 FY23 0.70 Net Debt/EBITDA (x) FY24 -72% 0.70 Q1FY25 1.00 Q2FY25 1.21 Q3FY2
Slide 32: Capital allocation framework – status update
Capital allocation framework – status update Our commitment Current status • Continue to invest in steel & ancillary business ✓ Continue to invest - Angul expansion Scope & area of • Saradhapur mines won (mines, power, ports) with green tech operations • Acquired ASL • Primarily in India (Organic +
Slide 33: Financial Performance – Consolidated
Financial Performance – Consolidated INR cr Quarterly Performance Full Year Performance Particulars Q4FY25 Q3FY25 Q4FY24 FY25 FY24 Gross Revenue* 15,525 13,707 15,749 58,044 58,115 Net Revenue 13,255 11,777 13,521 49,932 50,183 Adjusted EBITDA** 2,482 2,133 2,512 9,570 10,231 Depreciation + Amortiza
Slide 34: Financial Performance – Standalone
Financial Performance – Standalone INR cr Quarterly Performance Full Year Performance Particulars Q4FY25 Q3FY25 Q4FY24 FY25 FY24 Gross Revenue* 15,267 13,395 15,847 57,025 57,504 Net Revenue 13,087 11,452 13,788 48,932 49,766 Adjusted EBITDA** 2,416 2,027 2,501 9,052 10,124 Depreciation + Amortizati
Slide 35: Key factors influencing the consolidated performance – FY25
Key factors influencing the consolidated performance – FY25 All figures in INR Cr Key factors • Production volume up 2% YoY driven by higher capacity utilization Volumes • Sales volume grew 4% YoY due to higher capacity utilization and inventory liquidation • Revenue was flattish YoY driven by 4% vo
Slide 36: Key factors influencing the consolidated performance – Q4FY25
Key factors influencing the consolidated performance – Q4FY25 All figures in INR Cr Key factors Volumes • Production volume up 6% QoQ due to higher capacity utilization at 88% in FY25 • Sales volume up 12% QoQ on account of higher production & inventory liquidation • Revenue grew 13% QoQ driven by 1
Slide 37: Projects Update
Ls 44 cS ar G44 [Al Projects Update
Slide 38: Proposed Capex Framework from FY26 to FY28
Proposed Capex Framework from FY26 to FY28 Capex framework (INR cr) 3,423 47,043 8,113 901 5,445 Sustenance 797 9,583 7,212 2,626 Growth 998 25,924 8,585 2,749 41,598 23,175 Upto FY25 FY26E FY27E FY28E Announced Capex Ex-JV Capex 24,954 8,517 7,197 3,423 44,091 On track to deliver 6 mtpa capacity in
Slide 39: Angul Expansion Update … (1/2)
Angul Expansion Update … (1/2) Blast Furnace - 2 Basic Oxygen Furnace – 2 • Gas stoves lighted in Q4FY25 • BOF - 2 progressing as per timelines • First Hot Metal tapping expected in Q1FY26 • SFT has already been started • Target commissioning in Q2FY26 Slide 38 © 2025 Jindal Steel & Power. All right
Slide 40: Angul Expansion Update … (2/2)
Angul Expansion Update … (2/2) SBPP Slurry pipeline CRM complex 82% completed Progressive commissioning of various 1st module of 525MW ready; CTO awaited lines in FY26 100% RoW obtained Utkal B1 1,710 TPD ASU Coal pipe RMHS BOF3 & PP2 Mine opening permission received; 1st Coal Commissioned, ramp up
Slide 41: Guidance
Ls 44 cS ar G44 [Al Guidance
Slide 42: FY26 Guidance
FY26 Guidance FY25 8.12 MT 7.97 MT Production Sales FY26 Guidance 9.0 – 10.0 MT 8.5 – 9.0 MT Production Sales Incremental steel production from 0.2 – 0.3 MT 0.7 – 1.6 MT From existing operations From new expansion Slide 41 © 2025 Jindal Steel & Power. All rights reserved.
Slide 43: Investor Relations Contact
Investor Relations Contact: ir@jindalsteel.com © 2025 Jindal Steel & Power All rights reserved.