Slide 1: Earnings Presentation filing letter to stock exchanges
MAHARASHTRA SEAMLESS LIMITED INTERIM CORPORATE OFFICE : Pilot No.106, Institutional Sector-44, Gurgaon-122 002 Haryana (India) Phone No. : 91-124-4624000, 2574326, 2574325, 2574728 Fax : 91-124-2574327 E-mail : contact@mahaseam.com Website : www.jindal.com CIN No: L99999MH1988PLC080545 CORPORATE OFF
Slide 2: Earnings Presentation Quarter ending 31 December 2021
Earnings Presentation Quarter ending 31 December 2021 02 February 2022 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: Q3 FY22 Highlights
Q3 FY22 Highlights Maharashtra Seamless Limited (MSL) - Standalone 9 months ending 31 December 2021: • Total pipes production – 272k MT Seamless pipes – 217k MT ERW Pipes – 55k MT • PBT – Rs. 357 crores PAT – Rs. 287 crores 3 months ending 31 December 2021 • Total pipes production – 98k MT Seamless
Slide 5: Maharashtra Seamless: About the company
Maharashtra Seamless: About the company Company Profile • Incorporated in 1988, Maharashtra Seamless Limited (MSL) is part of the reputed DP Jindal Group. • It is the largest manufacturer of seamless pipes & tubes in India. • MSL operates in 4 business segments – A) Seamless pipes B) API certified h
Slide 6: Maharashtra Seamless: About the company – Capacities
Maharashtra Seamless: About the company Actual Capacities - Business Segments: Seamless Pipes ERW Pipes Rig Renewable Energy MSL has seamless pipes Acquired rig Jindal Explorer MSL has developed a manufacturing capacity of operating at more than 98% renewable energy portfolio 450,000 mt per annum ef
Slide 7: Mission & Vision Statement
Maharashtra Seamless: About the company Mission & Vision Statement • Promoters of D P Jindal Group have been in the pipes industry for more than 50 years. They are long-term participants in this sector with an established reputation. • The promoters aspire to provide industry participants with best
Slide 8: Products and Industries Served
Products and Industries Served Industries Seamless ERW Others (Coated and Premium Connection Served Pipes Pipes Pipes and Pipe Fittings) Agriculture Automotive Bearing Chemical Engineering Fertilizers Housing Irrigation Mechanical Oil and Gas Petrochemical Power Pub
Slide 9: Operational and Financial Performance – MSL
Operational and Financial Performance – MSL Particulars Q3 FY22 Q2 FY22 Q3 FY21 9M FY22 9M FY21 FY21 Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Seamless ERW Production (kMT) 79 19 84 20 61 19 217 55 160 49 244 64 Sales (kMT) 80 23 78 17 59 19 216 56 164 49 235 63 EBITDA (Rs. Cr
Slide 10: Historical Quarterly Performance
Historical Quarterly Performance Revenue (Rs. crores) EBITDA and EBITDA Margin 947 20% 811 19% 16% 15% 646 15% 606 544 127 118 124 139 87 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Segment EBIDTA Mix EBIDTA Mix for Q3 FY22 EBIDTA Mix for 9M FY22 Renewable Renewab
Slide 11: Operational and Financial Performance - USTPL
Operational and Financial Performance - USTPL Particulars Q3 FY22 Q2 FY22 Q1 FY22 9M FY22 Production (kMT) 21 18 11 50 • Performance of USTPL Sales (kMT) 21 17 11 49 is improving quarter on EBITDA (Rs. Cr) 30 17 9 56 quarter at a rapid rate. EBITDA/tonne (Rs.) 14,348 10,398 7,702 11,460 This trend w
Slide 12: Balance Sheet – Focus on core business
Balance Sheet – Focus on core business (Rs. crores) Sl. Investments - Equity & Preference Shares 31/12/2021 31/03/2021 31/03/2020 31/03/2019 • Over the last 3.5 years, MSL has 1 In Indian Subsidiaries impaired its a Jindal Premium Connections 4 4 4 4 investments in mines b MSL Finance 3 3 3 3 & rigs
Slide 13: Balance Sheet – ICDs
Balance Sheet – ICDs Reduction in ICDs outstanding (Rs. crores) Sl. ICDs outstanding 31/12/2021 31/03/2021 31/03/2020 31/03/2019 1 Given to related parties 3 560 765 248 2 Given to others 151 232 182 300 Total ICDs given 154 792 947 548 • In order to stand true to its corporate governance commitment
Slide 14: Balance Sheet – Investments in safe liquid assets
Balance Sheet – Investments in safe liquid assets Bonds & debentures – Low Risk (Rs. crores) Sl. Particulars 31/12/2021 31/03/2021 31/03/2020 31/03/2019 1 Bonds & debentures 317 283 254 3 • Majority of the bonds are tax free Government or PSU bonds where the risk of default is negligible. • Bonds wi
Slide 15: Balance Sheet - Debt Profile
Balance Sheet - Debt Profile Long term borrowings - Trend last 3 years (Rs. crores) Sl. Particulars Interest % 31/12/2021 31/03/2021 31/03/2020 31/03/2019 1 Loan for USTPL acquisition 6.40% 344 375 375 375 2 Loan for rig Jindal Explorer (USD ECB) 2.20% 311 357 373 - Total long term borrowing 655 732
Slide 16: Reduction in Corporate Guarantees
Reduction in Corporate Guarantees (USD mn) Sl. Corporate guarantee/SBLC outstanding 31/12/2021 30/09/2021 30/06/2021 31/03/2021 31/12/2020 30/09/2020 1 Discovery Drilling 30 31 33 35 43 43 2 Maharashtra Seamless (Singapore) 15 15 20 20 25 30 3 Internovia Natural Resources - - - 8 8 8 4 Total CG/SBLC
Slide 17: Order book details
Order book details Order book of MSL as on 31/12/2021 (Rs. crores) Segment Seamless ERW Total % Domestic 378 201 579 36% OIL & ONGC 342 - 342 21% • Execution timeline of order Downstream 68 412 480 30% book is 4-5 months. Export 154 64 218 13% Total 941 677 1619 100% • MSL has recently booked orders
Slide 18: Recent Policy Changes
Recent Policy Changes Anti Dumping Duty on Chinese Imports: • 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 28/10/2021 on various types of seamless pipes
Slide 19: Market Trends – Huge Potential
Market Trends – Huge Potential HPCL has launched their Rajasthan Refinery project in Barmer for 9MM TPA refining capacity with estimated project cost of Rs. 5K crores, which will have around 80k MT of pipes requirement in 2 years. High and value-added welded pipe (ERW) demand is coming from Cross Co
Slide 20: General Industry Initiatives
General Industry Industry Initiatives and Market from Government Trends Under “AatmaNirbhar Bharat” campaign launched by Govt. of India, global tenders will be disallowed in government procurement tenders up to Rs. 200 crores thereby improving demand for domestic pipe manufacturers. The PP-LC (Purch
Slide 21: Shareholding Structure – 31 December 2021
Shareholding Structure – 31 December 2021 Mutual Funds 2.82% 1.14% L&T Mutual Fund 2.82% 31.04% 64.90% Marquee Investors Akash Bhanshali 1.75% Lata Bhanshali 1.62% Prescient Wealth Management 1.15% Promoters Others Mutual Funds Institutions Aadi Financial Advisors 1.01% www.alimtiaz.com 20
Slide 22: Details of CSR initiatives undertaken
Details of CSR initiatives undertaken Financial help to villagers & migrant labourers Rural Food & Developme Mask nt distribution CSR Initiatives Animal Promoting Welfare Healthcare Promoting Education In FY 2021, MSL spent Rs. 5.43 crores on its Corporate Social Responsibility initiatives. www.alim
Slide 23: Marquee Customers
Marquee Customers Oil and Gas Infrastructure www.alimtiaz.com 22
Slide 24: Contact details
Danish P Bhat CFO Tel. No.: +91-124-4624320 E-Mail : danish@mahaseam.com Sanjiv Gupta DGM - Finance Tel. No.: +91-124-4624321 E-Mail : sanjiv@mahaseam.com www.jindal.com CIN: L99999MH1988PLC080545 23