January 24, 2025
BSE Limited | National Stock Exchange of India Limited, |
Corporate Relation Department | Listing Department, |
1st Floor, New Trading Ring | Exchange Plaza, |
Rotunga Building Phiroze Jeejeebhoy Towers | Bandra Kurla Complex |
Dalal Street, | Bandra (East) |
Mumbai - 400 001 | Mumbai - 400 051 |
Stock code: 500378 | Stock code: JINDALSAW |
Sub. : Financial / Operational Highlights - Quarter/Nine months Results - Regulation 30 SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
The Board of Directors of Jindal Saw Limited has approved the Unaudited (Standalone and Consolidated) Financial Results for the quarter/nine months ended 31st December, 2024. A copy of the highlights of financial and operational performance which will be circulated to the investors' community and other stakeholders is being sent to you for your reference and record.
Thanking you,
Yours faithfully,
for JINDAL SAW LTD.,
SUNIL K. JAIN
COMPANY SECRETARY
FCS : 3056
Encl. : As above
UNDISPUTED MARKET LEADER
IN PIPE MANUFACTURING
QUARTERLY EARNING
PRESENTATION-
Q3 FY25 RESULTS
January 24, 2025
Disclaimer
Statements made during today's discussion and those contained in this document could constitute "forward looking statements" including, without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.
These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that we have indicated could adversely affect our business and financial performance. Jindal Saw undertakes no obligation to publicly revise any forward looking statements to reflect future events or circumstances.
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Standalone Financial Highlights
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Q3 & 9MFY25 Result Highlights (Standalone)
Particulars | Q3 FY25 | Q3 FY24* | Change | 9M FY25 | 9M FY24* | Change | FY24 | |
(Rs in Million) | (Rs in Million) | (%) | (Rs in Million) | (Rs in Million) | (%) | (Rs in Million) | ||
Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||||
Total Income (#) | 45,209 | 47,853 | -6% | 1,37,282 | 1,32,269 | 4% | 1,82,330 | |
EBITDA | 8,821 | 8,893 | -1% | 25,994 | 22,536 | 15% | 32,261 | |
Financial Costs (#) | 1,363 | 1,498 | 3,892 | 4,431 | 5,858 | |||
Depreciation | 1,194 | 1,169 | 3,576 | 3,325 | 4,520 | |||
Profit before Tax (PBT) | 6,264 | 6,226 | 1% | 18,526 | 14,780 | 25% | 21,883 | |
Profit after Tax (PAT) | 4,772 | 4,550 | 5% | 14,002 | 10,850 | 29% | 16,141 | |
Ratios: | ||||||||
EBITDA to total income | 19.5% | 18.6% | 18.9% | 17.0% | 17.7% | |||
PBT to total income | 13.9% | 13.0% | 13.5% | 11.2% | 12.0% | |||
PAT to total income | 10.6% | 9.5% | 10.2% | 8.2% | 8.9% | |||
Note : (#) Total Income and Financial Costs are net of the impact of foreign exchange fluctuations. The Company follows a policy and strategy of natural hedging of foreign exchange exposures
*The Hon'ble National Company Law Tribunal (NCLT), vide its order dated March 21, 2024, approved the Composite Scheme of Amalgamation ("the Scheme") of Jindal Quality Tubular Limited ("JQTL"), Jindal Tubular (India) Limited ("JTIL") ("Subsidiaries") and Jindal Fittings Limited ("JFL") ("Associate") with the Company, the appointed date being April 01, 2022. JQTL and JTIL were in the business of pipe manufacturing and coating and JFL was in the business of manufacturing of Ductile Iron fittings. Consequently, the financial information of the Company for the quarter and nine months ended December 31, 2023 has been accordingly restated to give effect to the business combination
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Quarterly Financial Performance Trends - Standalone | (Rs. In Mio.) | ||||||||||||||
Revenue | EBITDA* | ||||||||||||||
EBITDA | Margin (%) ** | ||||||||||||||
50,061 | 19.4 | 19.5 | |||||||||||||
47,902 | |||||||||||||||
47,853 | 19.1 | ||||||||||||||
18.6 | 18.3 | ||||||||||||||
44,171 | 45,209 | ||||||||||||||
8,893 | 9,725 | 8,422 | 8,751 | 8,821 | |||||||||||
Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 |
Term Debt
17,625 | |||
14,757 | |||
11,854 | |||
9,302 | |||
31 Mar '24 | 30 Jun '24 | 30 Sep '24 | 31 Dec '24 |
Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 |
**margin (%) rounded off to one decimal
Working Capital Debt #
25,159 | 24,009 | ||
22,260 | |||
14,926 | |||
31 Mar '24 | 30 Jun '24 | 30 Sep '24 | 31 Dec '24 |
*EBITDA: Earnings Before Interest, Tax, Depreciation & Amortization | # working capital debt is net of cash/cash equivalent balances |
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Annual Financial Performance Trends - Standalone | (Rs. In Mio.) |
Revenue | ||||
1,82,330 | ||||
1,57,031 | 1,37,282 | |||
1,12,434 | 1,32,269 | |||
FY 22 | FY 23 | FY 24 | 9M FY24 | 9M FY25 |
EBITDA* | ||||
EBITDA | Margin (%) ** | |||
17.7 | 17.0 | 18.9 | ||
12.3 | 11.6 | |||
32,261 | 22,536 | 25,994 | ||
18,273 | ||||
13,851 | ||||
FY 22 | FY 23 | FY 24 | 9M FY24 | 9M FY25 |
Profit before Tax (PBT)
PBT | Margin (%) ** | 13.5 | ||
12.0 | ||||
11.2 | ||||
5.7 | 5.9 | 21,883 | ||
18,526 | ||||
14,780 | ||||
6,371 | 9,245 | |||
FY 22 | FY 23 | FY 24 | 9M FY24 | 9M FY25 |
Profit after Tax (PAT)
PAT | Margin (%) ** | |||
8.9 | ||||
10.2 | ||||
8.2 | ||||
3.6 | 4.5 | 16,141 | 14,002 | |
10,850 | ||||
4,055 | 7,093 | |||
FY 22 | FY 23 | FY 24 | 9M FY24 | 9M FY25 |
*EBITDA: Earnings Before Interest, Tax, Depreciation & Amortization | **margin (%) rounded off to one decimal |
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Q3 & 9MFY25 Result Highlights (Consolidated)
Particulars | Q3 FY25 | Q3 FY24* | Change (%) | 9M FY25 | 9M FY24* | Change (%) | FY24 |
(Rs in Million) | (Rs in Million) | (Rs in Million) | (Rs in Million) | ||||
Unaudited | Unaudited | Unaudited | Unaudited | Audited | |||
Total Income (#) | 52,933 | 56,964 | -7% | 1,58,804 | 1,56,322 | 2% | 2,11,259 |
EBITDA | 9,614 | 10,293 | -7% | 27,912 | 25,003 | 12% | 34,892 |
Financial Costs (#) | 1,729 | 1,816 | 4,847 | 5,303 | 7,047 | ||
Depreciation | 1,506 | 1,469 | 4,495 | 4,193 | 5,680 | ||
Profit before Tax (PBT) | 6,379 | 7,008 | -9% | 18,570 | 15,507 | 20% | 22,165 |
Share of profit/(loss) of JV | 74 | (11) | 194 | (15) | (8) | ||
Profit before Tax (PBT) after | 6,453 | 6,997 | 18,764 | 15,492 | 22,157 | ||
Share of profit/(loss) of JV | |||||||
Profit after Tax (PAT) | 4,794 | 5,124 | -6% | 13,711 | 11,125 | 23% | 15,929 |
Note : (#) Total Income, Other Expenses and Finance Costs are net of the impact of foreign exchange fluctuations. The Company follows a policy and strategy of natural hedging of foreign exchange exposures.
*The Hon'ble National Company Law Tribunal (NCLT), vide its order dated March 21, 2024, approved the Composite Scheme of Amalgamation ("the Scheme") of Jindal Quality Tubular Limited ("JQTL"), Jindal Tubular (India) Limited ("JTIL") ("Subsidiaries") and Jindal Fittings Limited ("JFL") ("Associate") with the Company, the appointed date being April 01, 2022. JQTL and JTIL were in the business of pipe manufacturing and coating and JFL was in the business of manufacturing of Ductile Iron fittings. Consequently, the financial information of the Company for the quarter and nine months ended December 31, 2023 has been accordingly restated to give effect to the business combination
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Quarterly Financial Performance Trends - Consolidated | (Rs. In Mio.) | |||||||||||||||||
Revenue | EBITDA* | |||||||||||||||||
18.1 | EBITDA | Margin (%)** | ||||||||||||||||
56,964 | 18.0 | |||||||||||||||||
56,023 | 16.9 | 18.2 | ||||||||||||||||
54,937 | 52,933 | 17.8 | ||||||||||||||||
49,848 | ||||||||||||||||||
10,293 | 9,888 | 8,853 | 9,445 | 9,614 | ||||||||||||||
Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | |||||||||
**margin (%) rounded off to one decimal | ||||||||||||||||||
Term Debt | Working Capital Debt # |
21,071 |
17,783 |
14,556 |
11,630 |
29,885
18,736
24,266 26,565
31 Mar '24 | 30 Jun '24 | 30 Sep '24 | 31 Dec '24 |
31 Mar '24 | 30 Jun '24 | 30 Sep '24 | 31 Dec '24 |
* EBITDA: Earnings Before Interest, Tax, Depreciation & Amortization | # working capital debt is net of cash/cash equivalent balances |
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