Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q4 FY19 Earnings Presentation
17 slides from Jindal Stainless's earnings presentation, May 20, 2019
Slide 1: Intimation to BSE and NSE under Regulation 30
May 20,20 19 BSE Limited National Stock Exchange of India Ltd. Corporate Relat ionship Department, Exchange Pl aza, 5th Floor, Ist Floor, New Trad ing Ring, Plot no. C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Bandra (E), Da lal Street, r ort, Mumbai - 400 00 I Mum ba i-40005 1
Slide 2: Q4 & FY19 Earnings Presentation – May 20, 2019
Q4 & FY19 Earnings Presentation – May 20, 2019 JINDAL STAINLESS LIMITED
Slide 3: Disclaimer
Disclaimer 2 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 rec
Slide 4: Q4 & FY19 Results Overview
Q4 & FY19 i 4 =r Results Overview | jer es
Slide 5: Key Financials Highlights – Q4 & FY19
Key Financials Highlights – Q4 & FY19 4 Net Revenue from operations EBITDA 12,585 1,281 10,964 1,136 3,173 3,128 3,251 388 302 228 Q4 FY18 Q3 FY19 Q4 FY19 FY18 FY19 Q4 FY18 Q3 FY19 Q4 FY19 FY18 FY19 Shift (%) QoQ: 4% YoY: 2% 15% Shift (%) QoQ: 33% YoY: (22%) (11%) PAT 318 115 139 52 32 Q4 FY18 Q3 FY
Slide 6: Key Operational Update – Q4 & FY19
Key Operational Update – Q4 & FY19 5 SMS Sales Volume (MT) 852 779 Thousands 220 204 225 Q4 FY18 Q3 FY19 Q4 FY19 FY18 FY19 Shift (%) QoQ: 10% YoY: 2% 9% Sales Composition – Q4 FY19 Sales Composition – FY19 Export Export 17% 20% Domestic Domestic 83% 80%
Slide 7: Key Raw Materials – Price Trend
Key Raw Materials – Price Trend 6 Nickel (USD/MT) 14,470 13,276 13,239 12,369 11,573 11,463 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Note: Average quarterly prices; Source: Bloomberg Fe Chrome (INR/ton) 81,854 76,717 76,708 76,583 75,617 71,400 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Note: Averag
Slide 8: Q4 FY19 Financial and Operational Discussions
Q4 FY19 Financial and Operational Discussions 7 Net Revenue grows to Rs. 3,251 crore, up 2% Y-o-Y – On a quarter-on-quarter basis, Sales volume registered an improvement of 10% to 224,865 MT. – Despite a challenging external trade environment, stable demand from various segments such as Railways, Me
Slide 9: FY19 Financial and Operational Discussions
FY19 Financial and Operational Discussions 8 Net Revenue grows to Rs. 12,585 crore, up 17% Y-o-Y – Sales volume increases by 9% to 852,479 MT – Higher sales volume coupled with better realizations contributed towards revenue growth in FY19 EBITDA at Rs. 1,136 crore, down by 11% Y-o-Y – EBITDA margin
Slide 10: Key Developments
Key Developments 9 Consortium of Corporate Debt Restructuring (CDR) lenders have agreed to allow CDR exit for the Company with effect from March 31, 2019 subject to requisite approval from their respective competent authorities • The recompense liability as on March 31, 2019 has been determined in c
Slide 11: Management Comment
Management Comment 10 Commenting on the performance, Mr. Abhyuday Jindal, Managing Director, Jindal Stainless Ltd. said: “CDR exit will give us more opportunities to consolidate our financial and leadership position. We are now looking forward to an intervention by the Indian Government to create a
Slide 12: Abridged P&L Statement
Abridged P&L Statement 11 YoY YoY Particular (Rs. crore) Q4 FY19 Q4 FY18 FY19 FY18 Change (%) Change (%) Net Revenue from operations 3,251 3,173 2% 12,585 10,964 15% Total Expenditure 2,949 2,784 6% 11,449 9,683 18% EBITDA 302 388 (22%) 1,136 1,281 (11%) EBITDA / ton 13,443 17,643 (24%) 13,325 16,44
Slide 13: Comfortable Debt Position
Comfortable Debt Position 12 As on As on As on Description - Borrowings Mar. March March 2019 2018 2017 Long term debt 2,050 2,457 3,405 Inter corporate loan from related 900 900 485 party OCRPS* 695 607 - Net Debt/EBITDA Total Long term debt 3,645 3,963 3,890 5.0 Short term borrowing (less than 12
Slide 14: Key Financial Ratios
Key Financial Ratios 13 FY19 FY18 FY17 EBITDA margin (%) 9.0% 11.7% 13.3% PAT Margin (%) 1.0% 2.9% 0.7% Net Debt to Equity 1.7 2.0 3.2 Net Debt to EBITDA 3.6 3.7 5.0 Return on Equity (%) 5.8% 15.5% 3.5% Return on Capital employed (%) 12.0% 15.6% 10.3% Note: 1) Net Debt includes short-term & long ter
Slide 15: Annexure
Annexure 14
Slide 16: About Us
About Us 15 Jindal Stainless Ltd. (JSL) is amongst the leading stainless steel For further information please contact: manufacturing companies in the world and India's largest stainless steel manufacturer. The Company operates an integrated stainless Goutam Chakraborty / Shreya Sharma steel plant at
Slide 17: Thank You
Thank You 16