Jindal Stainless Limited · NSE:JSL
Jindal Stainless — H1 FY2023 Earnings Presentation
26 slides from Jindal Stainless's earnings presentation, Nov 3, 2022
Slide 1: NAVNEET Digitally RAGHUVAN RAGHUVANSHI SHI
NAVNEET Digitally NAVNEET signed by RAGHUVAN RAGHUVANSHI Date: 2022.11.03 SHI 18:29:30 +05'30'
Slide 2: Q2 & H1FY23 Earnings Presentation
JINDAL STAINLESS LTD and JINDAL STAINLESS (HISAR) LTD Q2 & H1FY23 Earnings Presentation Nov 3, 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 Q2FY23 495 506 Export 5% 257 270 236 Domestic 95% Q2 FY22 Q1 FY23 Q2 FY23 H1FY22 H1FY23 Shift (%) QoQ: 15% YoY: 5% 2% Agile business model allowed efficient increase of sales volumes across domestic segments viz. Auto, Lifts & E
Slide 6: JSL: Key Financials Highlights
JSL: Key Financials Highlights Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA 10,779 Discussions (Standalone) 1290 8,656 934 5,336 5,442 711 4,815 523 411 Q2 FY22 Q1 FY23 Q2 FY23 H1 FY22 H1 FY23 Q2 FY22 Q1 FY23 Q2 FY23 H1 FY22 H1 FY23 Shift (%) QoQ: 2% YoY: 13% 25% Shift
Slide 7: JSHL: Key Financials Highlights
JSHL: Key Financials Highlights Sales Volume (‘000 MT) Sales Composition Q2FY23 339 Export 316 8% 188 183 132 Domestic 92% Q2 FY22 Q1 FY23 Q2 FY23 H1 FY22 H1 FY23 Shift (%) QoQ: 39% YoY: (3)% (7)% Adapting to the changed market dynamics and intensified focus on domestic sales supported the volume gr
Slide 8: JSHL: Key Financials Highlights
JSHL: Key Financials Highlights Net Revenue from operations JSL: Q2&H1FY22 Financial and Operational EBITDA Discussions (Standalone) 883 6,519 5,927 611 3,448 501 3,415 3,071 316 295 Q2 FY22 Q1 FY23 Q2 FY23 H1 FY22 H1 FY23 Q2 FY22 Q1 FY23 Q2 FY23 H1 FY22 H1 FY23 Shift (%) QoQ: 12% YoY: 1% 10% Shift
Slide 9: Market Update
Market Update Railways – wagons, coaches, Infrastructure Process Industry metros • Infrastructure sector has been doing • India Railways' thrust on increasing good with positive outlook; Stainless freight business to support wagon Steel use in structural applications • Government’s emphasis on deman
Slide 10: Key Raw Materials- Price trend
Key Raw Materials- Price trend Nickel (USD/ MT) 28,940 26,395 19,125 19,821 22,063 17,359 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Note: Average quarterly prices; Source: LME Ferrochrome (INR/ MT) 1,18,782 1,17,746 1,15,895 1,10,840 97,073 90,650 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 9 Note: Av
Slide 11: JSL: Debt Position & Key Ratios
JSL: Debt Position & Key Ratios Borrowings (Standalone) As on Sep As on As on (INR crore) 2022 June 2022 Mar.2022 Net Debt/Equity 0.9 Lenders’ Debt Long term debt 1,883 1,644 1,455 0.5 0.5 Short term borrowing 343 560 290 Total Lenders’ Debt 2,227 2,204 1,744 Inter corporate loan from 1,050 1,050 1,
Slide 12: JSHL: Debt Position & Key Ratios
JSHL: Debt Position & Key Ratios Borrowings (Standalone) As on As on As on (INR crore) Sep 2022 June 2022 Mar.2022 Net Debt/Equity 0.6 Long term debt 1,190 1,199 1,205 0.4 Short term borrowing (less 0.2 256 196 421 than 12 months) Total Debt 1,446 1,395 1,626 Cash & Bank balances 493 23 21 FY21 FY22
Slide 13: Merger Overview
Merger Overview 12
Slide 14: Merger & Acquisition Update
Merger & Acquisition Update JSL- JSHL MERGER APPOINTED DATE • Board approval of the scheme of arrangement • Stock Exchanges/SEBI approval April 1, 2020 MAJOR EVENTS • Shareholders and Creditors approvals SWAP RATIO • NCLT approval 1 : 1.95 • Implementation of Scheme Post approval of the shareholders
Slide 15: Merged Proforma: Stable Operational Performance
Merged Proforma: Stable Operational Performance Revenue EBITDA 4,740 35,348 4,085 32,620 16,744 1,526 FY22 TTM H1 FY23 FY22 TTM H1 FY23 Interest Cost PATPBT 327 331 2,949 2,571 163 836 FY22 TTM H1 FY23 FY22 TTM H1 FY23 14 Note: Standalone proforma financials; All figures in INR. crore unless stated
Slide 16: Consolidating Balance Sheet Strength
Consolidating Balance Sheet Strength Net Debt (INR Cr) Net Debt / Equity Net Debt / EBITDA 0.8 (42)% 2.3 4,718 3,162 2,757 0.3 0.3 0.7 0.7 Mar’20 Mar’22 Sep’22 Mar’20 Mar’22 Sep’22 Mar’20 Mar’22 Sep’22 Despite challenges in operational performance, balance sheet continues to remain strong Levera
Slide 17: Annexure
Annexure 16
Slide 18: JSL: Abridged P&L Statement (Standalone)
JSL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q2FY23 Q2FY22 Q1FY23 H1FY23 H1FY22 Change (%) Change (%) Change (%) Revenue from operations 5,442 4,815 13% 5,336 2% 10,779 8,656 25% Total Expenditure 5,031 4,104 23% 4,813 5% 9,844 7,366 34% EBITDA 411 711 (42%) 523 (21%)
Slide 19: JSL: Abridged P&L Statement (Consolidated)
JSL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q2FY23 Q2FY22 Q1FY23 H1FY23 H1FY22 Change (%) Change (%) Change (%) Revenue from operations 5,605 5,027 11% 5,474 2% 11,079 9,059 22% Total Expenditure 5,246 4,279 23% 4,925 7% 10,172 7,711 32% EBITDA 358 748 (52%) 549 (35
Slide 20: JSHL: Abridged P&L Statement (Standalone)
JSHL: Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q2 FY23 Q2 FY22 Q1 FY23 Change H1FY23 H1FY22 Change Change (%) (%) (%) Net revenue from operations 3,448 3,415 1% 3,071 12% 6,519 5,927 10% Total Expenditure 3,153 2,914 8% 2,755 14% 5,908 5,044 17% EBITDA 295 501 (41%) 316
Slide 21: JSHL: Abridged P&L Statement (Consolidated)
JSHL: Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. crore) Q2 FY23 Q2 FY22 Q1 FY23 Change H1FY23 H1FY22 Change Change (%) (%) (%) Net revenue from operations 3,926 3,743 5% 3,454 14% 7,380 6,520 13% Total Expenditure 3,603 3,176 13% 3,117 16% 6,720 5,540 21% EBITDA 323 567 (43%)
Slide 22: Capex Overview
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Slide 23: 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 24: Shareholding Pattern
Shareholding Pattern JSL JSHL Floating Stock (%) Floating Stock (%) Retail & Others Retail & 10.5% Others FII FII Other 14.4% Promoters 12.9% Other 22.1% 29.9% Promoters 70.1% 41.1% 58.9% DII DII 6.5% 4.6% 23 Note – Data as on 30th September, 2022
Slide 25: 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 26: Thank You
Thank You 25