Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q1 FY2023 Earnings Presentation
26 slides from Maharashtra Seamless's earnings presentation, Jul 25, 2022
Slide 1: E-Communication: Earnings Presentation intimation to exchanges
E-Communication MSL/ SEC/ SE/2022-23 25 July 2022 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 Presentat
Slide 2: Earnings Presentation Quarter ending 30 June 2022
Earnings Presentation Quarter ending 30 June 2022 25 July 2022 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 • MSL • New generation • Wind • 450,000 mt/annum offshore jack up rig • 7 MW at • API certified Maharashtra • USTPL • Operating with • High frequency • 100% subsidiary 98% efficiency on 3 • PSL 2 • Solar • 200
Slide 5: Management Focus & Strategy
Management Focus Industry and & Strategy Market Trends 1. Strategy – Realignment by Management to: • Increase focus on pipes and renewable energy segments • Reduce exposure to other segments 2. Internal accruals – Currently being utilised for working capital requirements. Going forward, Rs. 530 cror
Slide 6: 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 7: Highlights – Maharashtra Seamless (Consolidated)
Highlights – Maharashtra Seamless (Consolidated) Total revenue EBIDTA & EBIDTA margin 1600 1444 1353 240 220 36% 1161 168 1200 983 180 160 27% 120 135 722 Rs. crore Rs. crore 800 120 18% 17% 16% 400 60 14% 14% 12% 9% 0 0 0% Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Profit
Slide 8: Highlights – Maharashtra Seamless (Standalone)
Highlights – Maharashtra Seamless (Standalone) Total revenue EBIDTA & EBIDTA margin 1300 1195 40% 1068 240 969 180 975 843 180 159 30% 124 139 637 118 Rs. crore Rs. crore 650 120 20% 19% 17% 325 60 15% 15% 13% 10% 0 0 0% Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Profit af
Slide 9: Highlights – United Seamless Tubulaar
Highlights – United Seamless Tubulaar Total revenue EBIDTA & EBIDTA margin 300 279 60 53 40% 226 225 193 45 36 30% 146 30 Rs. crore Rs. crore 150 30 20% 86 10% 17 19% 75 15 16% 16% 10% 12% 9 0% 0 0 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Profit after tax Earnings per sh
Slide 10: Standalone Profit & Loss for Q1 FY23 v/s Q4 FY22
Standalone Profit & Loss for Q1 FY23 v/s Q4 FY22 Rs. crore Particulars MSL USTPL Q1 FY23 Q4 FY22 Q1 FY23 Q4 FY22 • USTPL is a wholly owned Revenue from operations 1058 1192 278 225 subsidiary of MSL. Add: Other income 10 3 1 1 • Scheme of Total revenue 1068 1195 279 226 amalgamation has been filed o
Slide 11: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 4000 3644 800 40% 664 3110 551 3000 600 539 30% 446 2668 2316 Rs. crore Rs. crore 2000 400 306 20% 2228 22% 21% 20% 1000 200 14% 15% 10% 0 0 0% FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Profit after tax Earnings pe
Slide 12: Operational & Financial Performance
Operational & Financial Performance Maharashtra Seamless Limited (MSL) Particulars Q1 FY23 Q4 FY22 Q1 FY22 FY22 FY21 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 84 18 98 19 54 16 315 74 244 64 Sales (kMT) 85 17 100 24 57 17 315 80 235 63 EBITDA (Rs. Cr) 154 19 1
Slide 13: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q1 FY22 Q1 FY23 Rs. crore 15 13 19 6 58 Seamless 39 154 ERW Rig Q4 FY22 FY22 15 18 Renewable Energy 57 11 73 392 133 www.alimtiaz.com 12
Slide 14: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars June 22 March 22 March 21 • Preference shares of Rs. 500 crore, ICD of Preference / Preference / Preference / Rs. 50.51 crore & Equity Equity Equity ICD ICD ICD equity shares of Rs. Indian Entitie
Slide 15: Key Balance Sheet Items: Liquid investments
Key Balance Sheet Items Liquid investments – Long term & short term Rs. crore Particulars June 22 March 22 March 21 Long term Bonds (PSU) & Debentures 307 307 283 • Investments in bonds are sub-divided into tax free bonds (40%) and Listed Equity Investments 13 16 14 perpetual bonds (60%). (A) 320 32
Slide 16: Key Balance Sheet Items: Borrowings – Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore • USTPL acquisition loan of Rs. 323 crores Particulars June 22 March 22 March 21 has skewed repayment schedule with annual repayment of Rs. 42 crore till March 2025 Loan for USTPL acquisition @ 7.30% p.a. 323 336 375 and thereafter, ann
Slide 17: Key Balance Sheet Items: Corporate Guarantee & SBLC reduction schedule
Key Balance Sheet Items Corporate Guarantee & SBLC reduction schedule Rs. crore Particulars Actual Projected March 21 March 22 June 22 March 23 March 24 September 24 Discovery Drilling 257 218 215 175 113 - Maharashtra Seamless (Singapore) 147 76 79 - - - Total 404 294 294 175 113 - • Corporate guar
Slide 18: Order book details as on 20 July 2022
Order book details as on 20 July 2022 Order book of MSL Rs. crore Order book of USTPL Rs. crore Segment Seamless ERW Total % Segment Seamless % Domestic 672 22 694 39% Export 119 70% Export 571 - 571 32% Cylinder Pipes 29 17% Downstream 65 229 294 16% Domestic 22 13% ONGC & OIL 238 - 238 13% Total 1
Slide 19: Dispatch Target & Margin Outlook for FY 2022-23
Dispatch Target & Margin Outlook for FY 2022-23 MSL FY22 Q1 FY23 FY23 % achieved in Segment Actual kMT Actual kMT Target kMT Q1 FY23 Seamless 315 85 350 24% ERW 80 17 88 19% USTPL FY22 Q1 FY23 FY23 % achieved in Segment Actual kMT Actual kMT Target kMT Q1 FY23 Seamless 73 22 120 18% •During a financ
Slide 20: Government Policies
Government Policies Export Duty: • Recent imposition of export duty on iron-ore & certain steel products excludes seamless & ERW pipes. • This has improved domestic raw material availability and lead to reactivation of projects. Anti-Dumping Duty: • The Ministry of Finance, on recommendation of Dire
Slide 21: MSL – Sales & Marketing Update
MSL – Sales Industry & Marketing and Update Market Trends Enquiries and confirmed orders are at all time highs on account of Russia – Ukraine War. USA remains our largest export market where we have developed brand loyalty for „MAHA‟ brand. Keeping in view the market dynamics in USA, we have now sta
Slide 22: USTPL – Sales & Marketing Update
USTPL – Sales Industry and & Marketing Market Update Trends Mill has been certified by American Petroleum Institute with API 5CT for Casings & Coupling Stock, API 5L for Line Pipes and API Q1 (Quality Management System) licenses. USTPL has been certified for Indian Boiler Regulations (IBR) and has a
Slide 23: Market Trends – Huge Potential
Market Trends – Huge Potential Recent sanctions on Russia have lead to revocation of API license from Russian mills by American Petroleum Institute. Additionally, the absence of Ukrainian suppliers in the market has left a huge vacuum in the seamless OCTG market. American & European customers are no
Slide 24: Shareholding Structure – 30 June 2022
Shareholding Structure – 30 June 2022 3.70% 1.28% Institutional Investors 67.08% L & T Mutual Fund 27.94% ITI Mutual Fund Promoters Taurus Mutual Fund Others Aequitas Equity Scheme, Aequitas Investment DII Green Lantern Capital FII IIFL Turnaround Opportunities Fund Barclays Wealth Trustees India DF
Slide 25: Marquee Customers
Marquee Customers Oil and Gas Infrastructure www.alimtiaz.com 24
Slide 26: Investor Contact
Investor Contact Kaushal Bengani Senior Manager – Investor Relations Tel. No.: +91-124-4624177 E-Mail: kaushal@mahaseam.com www.jindal.com CIN: L99999MH1988PLC080545 25
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