Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q4 FY20 Earnings Presentation
21 slides from Jindal Stainless's earnings presentation, Jun 6, 2020
Slide 1: Exchange filing cover letter – Earnings presentation intimation
6 June, 2020 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 & FY20 Earnings Presentation
JINDAL STAINLESS LIMITED Q4 & FY20 Earnings Presentation June 6, 2020
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which has been prepared by Jindal Stainless Limited (the "Company"), has been prepared purely for information purposes only and is not, and is not intended to be, an offer, or solicitation of offer, or invitation or recom
Slide 4: Q4 & FY20 Results Overview
Q4 & FY20 Results Overview 3
Slide 5: Key Financials Highlights – Q4 & FY20
Key Financials Highlights – Q4 & FY20 Net Revenue from operations EBITDA 12,585 12,320 1,136 1,175 3,251 3,179 2,904 302 302 241 Q4 FY19 Q3 FY20 Q4 FY20 FY19 FY20 Q4 FY19 Q3 FY20 Q4 FY20 FY19 FY20 Shift (%) QoQ: (9%) YoY: (11%) (2%) Shift (%) QoQ: (20%) YoY: (20%) 3% PAT 139 153 56 32 -22 Q4 FY19 Q3
Slide 6: Key Operational Update – Q4 & FY20
Key Operational Update – Q4 & FY20 Sales Volume (MT) 852 916 Thousands 225 239 221 Q4 FY19 Q3 FY20 Q4 FY20 FY19 FY20 Shift (%) QoQ: (8%) YoY: (2%) 7% Sales Composition – Q4 FY20 Sales Composition – FY20 Export Export 22% 21% Domestic Domestic 78% 79% 5 Note: Standalone financials
Slide 7: Key Raw Materials – Price Trend
Key Raw Materials – Price Trend Nickel (USD/MT) 15,540 15,450 13,266 12,369 12,258 12,723 11,516 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Note: Average quarterly prices; Source: LME Fe Chrome (INR/ton) 75,617 76,583 71,400 69,304 64,258 64,258 60,950 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20
Slide 8: Q4 FY20 Financial and Operational Discussions (Standalone)
Q4 FY20 Financial and Operational Discussions (Standalone) Net revenue fell by 11% Y-o-Y at Rs. 2,904 crore o Sales volume was lower by 2% Y-o-Y largely due to muted economic sentiments given the COVID-19 outbreak EBITDA stood at Rs. 241 crore, down by 20% Y-o-Y o Steadily falling Nickel during
Slide 9: FY20 Financial and Operational Discussions (Standalone)
FY20 Financial and Operational Discussions (Standalone) Net Revenue remained almost flat Y-o-Y at Rs. 12,320 crore o The Company recorded the highest ever stainless steel production at 974 kt; Sales volume rose by 7% Y-o-Y to 916 kt EBITDA rose by 3% Y-o-Y to Rs. 1,175 crore o EBITDA/ tonne stoo
Slide 10: Management Comment
Management Comment “JSL recorded steady operational performance in FY19- 20. As GDP growth slowed down in the last quarter of the Commenting on fiscal, we witnessed erosion in margins. the performance, Mr. Abhyuday Going forward, we are turning our focus on growing Jindal, markets, such as the two-w
Slide 11: Abridged P&L Statement (Standalone)
Abridged P&L Statement (Standalone) YoY YoY Particular (Rs. crore) Q4 FY20 Q4 FY19 FY20 FY19 Change (%) Change (%) Net Revenue from operations 2,904 3,251 (11%) 12,320 12,585 (2%) Total Expenditure 2,662 2,949 (10%) 11,145 11,449 (3%) EBITDA 241 302 (20%) 1,175 1,136 3% EBITDA / ton 10,917 13,443 (1
Slide 12: Abridged P&L Statement (Consolidated)
Abridged P&L Statement (Consolidated) YoY YoY Particular (Rs. crore) Q4 FY20 Q4 FY19 FY20 FY19 Change (%) Change (%) Net Revenue from operations 3,094 3,547 (13%) 12,951 13,557 (4%) Total Expenditure 2,873 3,243 (11%) 11,811 12,393 (5%) EBITDA 222 304 (27%) 1,139 1,165 (2%) EBITDA / ton 10,015 13,52
Slide 13: Abridged Balance Sheet (Standalone)
Abridged Balance Sheet (Standalone) As at 31st As at 31st As at 31st As at 31st ASSETS (Rs. crore) EQUITY AND LIABILITIES (Rs. crore) Mar. 2020 Mar. 2019 Mar. 2020 Mar. 2019 ASSETS EQUITY AND LIABILITIES 1) Non-current assets (a) Equity Share capital 97 96 (a) Property, Plant & Equipment 5,938 6,113
Slide 14: Abridged Balance Sheet (Consolidated)
Abridged Balance Sheet (Consolidated) As at 31st As at 31st As at 31st As at 31st ASSETS (Rs. crore) EQUITY AND LIABILITIES (Rs. crore) Mar. 2020 Mar. 2019 Mar. 2020 Mar. 2019 ASSETS EQUITY AND LIABILITIES 1) Non-current assets (a) Equity Share capital 97 96 (a) Property, Plant & Equipment 6,148 6,3
Slide 15: Comfortable Debt Position
Comfortable Debt Position Borrowings (Standalone) As on As on As on (Rs. crore) Mar.2020 Mar.2019 Mar.2018 Long term debt 2,357 2,050 2,457 Inter corporate loan from related party 900 900 900 OCRPS* - 695 607 Net Debt/EBITDA Total Long term debt 3,257 3,645 3,963 3.7 Short term borrowing 398 473 766
Slide 16: Key Financial Ratios (Standalone)
Key Financial Ratios (Standalone) FY20 FY19 FY18 EBITDA margin (%) 9.5% 9.0% 11.9% PAT Margin (%) 1.2% 1.1% 3.0% Net Debt to Equity 1.4 1.7 2.0 Net Debt to EBITDA 3.1 3.6 3.7 Return on Equity (%) 6.0% 5.8% 15.5% Return on Capital employed (%) 11.6% 12.0% 15.6% Note: 1) Net Debt includes short-term &
Slide 17: Key Milestones achieved
Key Milestones achieved Redemption of Optionally Successfully exits Convertible Corporate Debt Redeemable Restructuring (CDR) Preference Shares (OCRPS) including recompense •Obtained all requisite •The Company fully redeemed approvals from authorities and the outstanding OCRPS of ~Rs. successfully e
Slide 18: JSL’s Response to COVID19 pandemic
JSL’s Response to COVID19 pandemic Immediate response to ensure safety: o Following the country-wide lockdown and subsequent guidelines by the centre and state governments to control the spread of COVID -19 led to shut down of the manufacturing facilities in JSL‟s Jajpur, Odisha plant from March 25,
Slide 19: Pledging of Promoters’ shares
Pledging of Promoters’ shares There is no loan raised against the promoters‟ shares (LAS), and therefore there is no linkage between the pledged shares and their market value Accordingly, there is no requirement of maintaining any margins, since the aforesaid shares are offered only as an additi
Slide 20: About Us
About Us 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 integrated stainless steel plant at Jajpur, Odisha. The complex has a total stainless steel Goutam Chakraborty /
Slide 21: Thank You
Thank You 20