Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q4 FY2023 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, May 26, 2023
Slide 1: Exchange covering letter for earnings presentation
E-Communication MSL/SEC/SE/2022 -23 26 May 2023 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: MAHSE AMLES Sub: Earnings Presentati
Slide 2: Earnings Presentation Quarter & year ending 31 March 2023
Earnings Presentation Quarter & year ending 31 March 2023 26 May 2023 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 • Wind offshore jack up rig • 7 MW at • 450,000 mt/annum • API certified Maharashtra • Operating with • High frequency 98% efficiency on 3 • Telangana • PSL 2 • Solar year contra
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 450 36% 1654 312 1600 1424 1347 1435 1355 249 300 231 245 24% 195 17% 18% 18% 19% 800 150 12% Rs. crore Rs. crore 14% 0 0 0% Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q4 FY23 Q3 FY23 Q4 FY22 Revenue from operations 1623 1337 1419 • United Seamless Tubulaar Pvt. Add: Other income 31 18 5 Ltd. (USTPL) had been Total revenue 1654 1355 1424 amalgamated with MSL vide order of National Company Law Tribunal,
Slide 8: Annual Highlights – Maharashtra Seamless
Annual Highlights – Maharashtra Seamless Total revenue EBIDTA & EBIDTA margin 6600 5790 1200 1038 45% 4065 4400 800 30% 603 446 2316 2200 400 20% 15% 18% Rs. crore Rs. crore 15% 0 0 0% FY21 FY22 FY23 FY21 FY22 FY23 PAT & PAT margin EPS (on ex-bonus basis) 793 75 840 711 30% 59 53 50 560 20% 18% 280
Slide 9: Operational & Financial Performance
Operational & Financial Performance Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 119 32 97 21 118 19 431 85 356 74 Sales (kMT) 117 28 99 24 123 24 436 82 358 80 EBITDA (Rs. Cr) 258 25 201 24 170 11 895 69 456 73 EBITD
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q4 FY23 Q3 FY23 Rs. crore 16 13 14 6 25 24 Total Total EBIDTA - 312 EBIDTA - 245 Seamless 258 201 ERW Renewable Energy Q4 FY22 FY23 15 59 15 Rig 11 69 Total Total EBIDTA - 196 EBIDTA - 1038 170 895 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars March 23 March 22 March 21 Preference / Preference / Preference / Equity Equity Equity ICD ICD ICD Investments Jindal Premium Connections 4 3 4 3 4 3 MSL Finance 3 - 3 - 3 - Maharashtra Seamless (
Slide 12: Key Balance Sheet Items – Liquid investments
Key Balance Sheet Items Liquid investments – Long term & short term Rs. crore Particulars March 23 March 22 March 21 Long term Bonds (PSU) & Debentures 291 307 283 • Investments in bonds are sub-divided into tax free bonds (40%) and Listed Equity Investments 8 16 14 perpetual bonds (60%). (A) 299 32
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars March 23 March 22 March 21 • In view of sufficient internal accruals and Loan for USTPL acquisition rising interest rates, loan taken for USTPL - 334 375 acquisition was prepaid in full on 10 October (Prepaid in full on 10 O
Slide 14: Key Balance Sheet Items – Corporate Guarantee reduction schedule
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars Actual Projected March 21 March 22 March 23 September 23 March 24 September 24 Discovery Drilling 257 218 181 152 117 - • Corporate guarantee outstanding of Rs. 181 crore (~ USD 22.05 mn) is for bank loan availed by
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 21 May 2023
Order book of MSL as on 21 May 2023 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 1063* - 71 1134 55% orders of Rs. 143 crore **Includes cylinder pipes Exports & Others 730 101** 98 929 45% orders of Rs. 64 crore Total 1793 101 169 2063 100% We expect m
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 Large orders from ONGC have been received which will be executed over next 2-3 quarters. As domestic demand is robust and new oil blocks „Amrit‟ and „Moonga‟ have been recently discovered in Mumbai offshore, fresh orders are expected considering ou
Slide 19: Market Trends – Huge Potential
Market Trends – Huge Potential OPEC sees global oil demand hitting 101.8 mn barrels per day in 2023, up from 99.55 mn barrels per day in 2022 with increased requirement being met from non-OPEC countries such as USA, Norway & Canada. Global oil demand will exceed supplies by an average of roughly 1.5
Slide 20: Shareholding Structure – 31 March 2023
Shareholding Structure – 31 March 2023 4.05% 2.84% 67.80% Key changes – Q4 FY23 v/s Q3 FY23 25.31% • Promoter holding increased from 67.63% to 67.80%. • DII holding increased from 3.89% to 4.05%. Promoters • FII holding decreased from 3.08% to 2.84%. Others • In Q1 FY24, FII holding and number of FI
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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