Maharashtra Seamless Limited · NSE:MAHSEAMLES
Maharashtra Seamless — Q1 FY2024 Earnings Presentation
22 slides from Maharashtra Seamless's earnings presentation, Aug 1, 2023
Slide 1: E-Communication to stock exchanges
E-Communication MSL/ SEC/ SE/2022-23 01 August 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: MAHSEAMLES Sub: Earnings Present
Slide 2: Earnings Presentation Quarter & year ending 30 June 2023
Earnings Presentation Quarter & year ending 30 June 2023 01 August 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 • Solar offshore jack up rig • 52.50 MW AC at • 450,000 mt/annum • API certified Maharashtra & • Operating with • High frequency Rajasthan 98% efficiency on 3 • Telangana • PSL 2
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 1347 1435 1355 249 1256 300 231 245 244 24% 18% 18% 19% 20% 800 150 17% 12% Rs. crore Rs. crore 0 0 0% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 PAT & PAT margin EP
Slide 7: Profit & Loss – Quarterly comparison
Profit & Loss – Quarterly comparison Rs. crore Particulars MSL Q1 FY24 Q4 FY23 Q1 FY23 Revenue from operations 1223 1623 1334 • United Seamless Tubulaar Pvt. Add: Other income 33 31 13 Ltd. (USTPL) had been Total revenue 1256 1654 1347 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 Q1 FY24* Q4 FY23 Q1 FY23 FY23 FY22 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 94 21 119 32 106 18 431 85 356 74 Sales (kMT) 90 21 117 28 107 17 436 82 358 80 EBITDA (Rs. Cr) 204 11 258 25 205 19 895 69 456 73 EBIT
Slide 10: EBIDTA Mix – Maharashtra Seamless
EBIDTA Mix – Maharashtra Seamless Q1 FY24 Q4 FY23 Rs. crore 11 16 13 18 11 25 Total Total EBIDTA - 244 EBIDTA - 312 Seamless 204 258 ERW Renewable Energy Q1 FY23 FY23 13 59 15 Rig 19 69 Total EBIDTA - 1038 205 895 www.alimtiaz.com 9
Slide 11: Key Balance Sheet Items – Investments & ICDs
Key Balance Sheet Items Unquoted Equity/Preference Share investments & ICDs given Rs. crore Particulars June 23 March 23 March 22 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 (S
Slide 12: Key Balance Sheet Items – Liquid investments
Key Balance Sheet Items Liquid investments – Long term & short term Rs. crore Particulars June 23 March 23 March 22 Long duration Bonds (PSU) & Debentures 291 291 307 • Investments in bonds are sub-divided into tax free bonds (40%) and Listed Equity Investments 15 8 16 perpetual bonds (60%). (A) 306
Slide 13: Key Balance Sheet Items – Borrowings, Gross & Net Debt
Key Balance Sheet Items Borrowings – Gross & Net Debt Rs. crore Particulars June 23 March 23 March 22 Loan for Telangana plant acquisition - - 334 • In view of sufficient internal accruals and Loan for rig acquisition - 244 299 rising interest rates, loans taken for Gross Debt (A) - 244 633 Telangan
Slide 14: Key Balance Sheet Items – Corporate Guarantee reduction schedule
Key Balance Sheet Items Corporate Guarantee reduction schedule Rs. crore Particulars Actual Projected March 22 March 23 June 23 September 23 March 24 September 24 Discovery Drilling 218 181 166 152 117 - • Corporate guarantee outstanding of Rs. 166 crore (~ USD 20.25 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 25 July 2023
Order book of MSL as on 25 July 2023 Rs. crore Segment Maharashtra Telangana ERW Total % Remarks *Includes drill pipes ONGC & OIL 849* - 34 883 51% orders of Rs. 142 crore **Includes cylinder pipes Exports & Others 569 91** 182 842 49% orders of Rs. 64 crore Total 1418 91 216 1725 100% We expect mar
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 – 30 June 2023
Shareholding Structure – 30 June 2023 4.31% 5.96% 67.80% Key changes – Q1 FY24 v/s Q4 FY23 21.93% • Promoter holding remained unchanged at 67.80% Promoters • FII holding increased from 2.84% to 5.96% Others • DII holding increased from 4.05% to 4.31% DII FII • No. of FIIs increased from 94 to 131 Pr
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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