Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q4 FY22 Earnings Presentation
29 slides from Jindal Stainless's earnings presentation, May 5, 2022
Slide 1: Exchange intimation letter for earnings presentation
05th May, 2022 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 & FY22 Earnings Presentation
JINDAL STAINLESS LTD and JINDAL STAINLESS (HISAR) LTD Q4& FY22 Earnings Presentation May 5, 2022
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: Standalone Operational and Financial Performance
Standalone Operational 3 and Financial Performance
Slide 5: JSL: Key Financials Highlights
JSL: Key Financials Highlights Sales Volume (‘000 MT) Sales Composition 1,011 825 Export 32% 255 248 269 Domestic 68% Q4 FY21 Q3 FY22 Q4 FY22 FY21 FY22 Shift (%) QoQ: 9% YoY: 6% 23% Exports sales doubled in Q4FY22 on YoY basis, despite volatility and global disruptions in raw material supply and log
Slide 6: JSL: Key Financials Highlights
JSL: Key Financials Highlights Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA Discussions (Standalone) 2,791 20,312 11,679 1396 5,368 6,287 739 761 3,810 521 Q4 FY21 Q3 FY22 Q4 FY22 FY21 FY22 Q4 FY21 Q3 FY22 Q4 FY22 FY21 FY22 Shift (%) QoQ: 17% YoY: 65% 74% Shift (%) QoQ
Slide 7: JSHL: Key Financials Highlights
JSHL: Key Financials Highlights Sales Volume (‘000 MT) Sales Composition 702 577 Export 18% 182 184 179 Domestic 82% Q4 FY21 Q3 FY22 Q4 FY22 FY21 FY22 Shift (%) QoQ: (3)% YoY: (2)% 22% • Specialty Products Division (SPD) sales grew by 32% in FY22 on YoY basis • Recorded highest ever quarterly sales
Slide 8: JSHL: Key Financials Highlights
JSHL: Key Financials Highlights Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA 13,549 Discussions (Standalone) 1,940 8,400 1003 3,820 3,802 520 537 2,758 364 Q4 FY21 Q3 FY22 Q4 FY22 FY21 FY22 Q4 FY21 Q3 FY22 Q4 FY22 FY21 FY22 Shift (%) QoQ: (0)% YoY: 38% 61% Shift (%) Qo
Slide 9: Market Update
Market Update Railways – wagons, coaches, Process Industry metros Infrastructure • Outlook remains positive for wagons on • Desalination plants, Ethanol new orders and good demand • 1st Stainless steel foot over bridge plant, Bio refinery, Fertilizer (FOB) commissioned in Naupada, • In coaches, high
Slide 10: Key Raw Materials- Price trend
Key Raw Materials- Price trend Nickel (USD/ MT) 26,395 19,125 17,573 15,930 19,821 17,359 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Note: Average quarterly prices; Source: LME Ferrochrome (INR/ MT) 1,18,782 1,15,895 94,675 1,10,840 68,775 90,650 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 9 Note: Aver
Slide 11: JSL: Debt Position & Key Ratios
JSL: Debt Position & Key Ratios Borrowings (Standalone) As on As on As on (INR crore) Mar.2022 Mar.2021 Mar.2020 1.4 Net Debt/Equity Lenders’ Debt Long term debt 1,455 1530 2,357 0.9 Short term borrowing 290 319 398 0.5 Total Lenders’ Debt 1,744 1849 2,755 Inter corporate loan from 1,050 1,050 900 r
Slide 12: JSHL: Debt Position & Key Ratios
JSHL: Debt Position & Key Ratios Borrowings (Standalone) As on As on As on (INR crore) Mar.2022 Mar.2021 Mar.2020 Net Debt/Equity 1.1 Long term debt 1,205 1,250 1,929 0.6 Short term borrowing (less 0.4 421 127 90 than 12 months) Total Debt 1,626 1,376 2,019 Cash & Bank balances 21 8 19 FY20 FY21 FY2
Slide 13: Merger Overview
Merger Overview 12
Slide 14: Complementing Strengths
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 Blade Steel, Stai
Slide 15: Merger: JSL, JSHL
Merger: JSL, JSHL APPOINTED DATE • April 1, 2020 • Board approval of the scheme of arrangement • Stock Exchanges/SEBI approval MAJOR EVENTS • Shareholders and Creditors approvals • NCLT approval • Implementation of Scheme Shareholders and creditors of JSL and JSHL approved the ‘Scheme of Arrangement
Slide 16: Robust Operational Performance
Robust Operational Performance Revenue EBITDA 32,620 4,740 19,175 2,408 FY21 FY22 FY21 FY22 Interest Cost PBT 612 3,886 327 1,337 FY21 FY22 FY21 FY22 15 Note: Standalone proforma financials (merged entity); All figures in INR. crore unless stated
Slide 17: Consolidating Balance Sheet Strength
Consolidating Balance Sheet Strength Net Debt (INR Cr) Net Debt / Equity Net Debt / EBITDA 0.8 (33)% 2.3 0.5 4,718 1.3 0.3 3,125 3,162 0.7 Mar’20 Mar’21 Mar’22 Mar’20 Mar’21 Mar’22 Mar’20 Mar’21 Mar’22 Balance sheet strengthening with financial prudence Consistent improvement in Leverage ratios
Slide 18: Annexure
Annexure 17
Slide 19: JSL: Abridged P&L Statement (Standalone)
JSL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q4FY22 Q4FY21 Q3FY22 FY22 FY21 Change (%) Change (%) Change (%) Revenue from operations 6,287 3,810 65% 5,368 17% 20,312 11,679 74% Total Expenditure 5,526 3,288 68% 4,629 19% 17,521 10,283 70% EBITDA 761 521 46% 739 3% 2,79
Slide 20: JSL: Abridged P&L Statement (Consolidated)
JSL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q4FY22 Q4FY21 Q3FY22 FY22 FY21 Change (%) Change (%) Change (%) Revenue from operations 6,564 3,914 68% 5,670 16% 21,223 12,188 74% Total Expenditure 5,722 3,371 70% 4,873 17% 18,236 10,764 69% EBITDA 842 542 55% 797 6% 2,
Slide 21: JSHL: Abridged P&L Statement (Standalone)
JSHL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q4 FY22 Q4 FY21 Q3 FY22 FY22 FY21 Change (%) Change (%) Change (%) Net revenue from operations 3,802 2,758 38% 3,820 (0%) 13,549 8,400 61% Total Expenditure 3,265 2,394 36% 3,300 (1%) 11,609 7,397 57% EBITDA 537 364 47% 520
Slide 22: JSHL: Abridged P&L Statement (Consolidated)
JSHL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q4 FY22 Q4 FY21 Q3 FY22 FY22 FY21 Change (%) Change (%) Change (%) Net revenue from operations 4,318 3,103 39% 4,173 3% 15,011 9,400 60% Total Expenditure 3,714 2,697 38% 3,604 3% 12,858 8,273 55% EBITDA 605 406 49% 569 6
Slide 23: 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 Iberjindal S.L, 65% Subsidiaries /Investment ● Merger of JSL Lifestyle (mobility business), JSL Spain Media and JSCMS into JSL JSL Lifestyle (mobility
Slide 24: Capex Overview
\ | | | j yt Capex Overview ~ Ii
Slide 25: Leveraging World class Jajpur Infra & Hisar Speciality Product Leadership
Leveraging World class Jajpur Infra & Hisar Speciality Product Leadership JSL - Doubling Stainless Steel JSHL – Multiplying Speciality Capacity Products Augmenting Stainless Steel Melt capacity Strengthening product mix with expansion in value from 1.1MTPA to 2.1MTPA added product segment Incr
Slide 26: Integrated operations for Atmanirbhar Bharat
Integrated operations for Atmanirbhar Bharat Existing Incremental Total JSL Est. Capex Est. JSL Projects Capacity Capacity MTPA INR Cr Completion MTPA MTPA SMS 1.10 1.00 2.10 530 Q3 FY23 Combo Line 1,250 Q4 FY23 HRAP 0.80 0.45 1.25 CRAP 0.45 0.30 0.75 Ferro Chrome 0.25 0.10 0.35 315 Q3 FY24 Quality
Slide 27: Shareholding Pattern
Shareholding Pattern JSL JSHL Floating Stock (%) Floating Stock (%) Retail & Retail & Others FII Others FII 8.7% 20.5% 16.3% Promoters Other 15.1% Other 30.1% Promoters 69.9% 41.1% 58.9% DII DII 6.3% 4.3% 26 Note – Data as on 31st March, 2022
Slide 28: 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 29: Thank You
Thank You 28