Slides
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JINDAL STAINLESS LTD Q4 FY25 & FY25 Earnings Presentation May 09, 2025
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Disclaimer This presentation and the accompanying slides (the “Presentation”), which has been prepared by Jindal Stainless Limited (referred to “respective company (ies)”) for this joint earning presentation, are purely for information purposes only and is not, and is not intended to be, an offer, or solicitation of offer, or invitation or recommendation or advise to buy or sell or deal with any securities of the company, and shall not constitute an offer, solicitation or invitation or recommendation or advise to buy or sell or deal with any securities of the respective Company in any jurisdiction in which such offer, solicitation or invitation or recommendation or advise is unlawful or in contravention of applicable laws. No part, or all, of this Presentation shall be used or form the basis of, or be relied on or referred to in connection with, any contract or investment decision in relation to any securities of the respective Company. This Presentation is strictly informative and relating to the financial conditions, internal functioning, day to day operations, future events and projections etc. of the Company and this presentation shall not be used or relied upon or referred to in whole or in part, for any purpose whatsoever. The information in this Presentation is being provided by the respective company and is subject to change without any notice or liability. This Presentation has been prepared by the respective company based on information and data which it considers reliable, but it makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, veracity, fairness, integrity, sufficiency and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and exhaustive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This Presentation contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this Presentation that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties, contingencies and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this Presentation should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the Presentation. The respective Company assume no obligations or responsibility to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. You unconditionally and irrevocable acknowledge and undertake that you will be solely responsible for your own assessment of the market, the market position, the business and financial condition of the respective company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the respective company . All the risks, liabilities or consequences arising out of or consequent to the use of or reliance on or reference to this Presentation and/or acting on the basis of the analysis/views formed by you, shall be solely borne by you. This Presentation speaks as of the date mentioned herein. Neither the delivery of this Presentation nor any further discussions of the respective Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the respective company since that date. 2
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3 Standalone Operational and Financial Performance
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4 Key Financials Highlights Domestic 91% Export 9% Sales Composition – FY25 570 588 643 2,175 2,373 Q4 FY24 Q3 FY25 Q4 FY25 FY24 FY25 Sales Volume (‘000 MT*) *MT- Metric Ton Domestic 92% Export 8% Sales Composition – Q4 FY25 Shift (%) QoQ: 9% YoY: 13% YoY: 9%
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Note: All figures in INR crore unless stated otherwise Key Financials Highlights 9,521 10,066 10,786 38,356 40,182 Q4 FY24 Q3 FY25 Q4 FY25 FY24 FY25 Net Revenue 476 619 925 2,531 2,711 Q4 FY24 Q3 FY25 Q4 FY25 FY24 FY25 PAT 5 827 1,003 890 4,036 3,905 Q4 FY24 Q3 FY25 Q4 FY25 FY24 FY25 EBITDA Shift (%) QoQ: 7% YoY: 13% YoY: 5% Shift (%) QoQ: -11% YoY: 8% YoY: -3% Shift (%) QoQ: 50% YoY: 94% YoY: 7%
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6 Borrowings (Standalone) As on March 2025 As on December 2024 As on March 2024 Debt Long term debt 3,228 3,344 3,203 Short term debt 878 1,237 593 Total Debt 4,107 4,581 3,796 Cash & Bank balances 1,857 1,237 1,378 Net Debt 2,250 3,344 2,418 Borrowings (JUSL) As on March 2025 As on December 2024 As on March 2024 Long term debt 1,919 2,010 1,983 Short term debt 105 - - Total Debt 2024 2,010 1,983 Cash & Bank balances 294 326 533 Net Debt 1,731 1,684 1,450 External Debt & Key Ratios Note: Ratios based on JSL standalone Long term debt ratings AA /Stable & Short term debt ratings A1+ 0.2 0.6 0.1 0.6 Net Debt/Equity Net Debt/EBITDA Mar'24 Mar'25 Borrowings (Subsidiaries-ex JUSL) As on March 2025 As on December 2024 As on March 2024 Long-Term Debt 21 24 36 Short-Term Debt 123 173 111 Total 144 197 147 Cash & Bank balances 119 109 77 Net Debt 24 89 70
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JUSL Performance 7 All figures in INR. crore unless stated otherwise 781 708 FY24 FY25 EBITDA 204 178 FY24 FY25 Interest Cost 316 289 FY24 FY25 PAT
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Market Update 8 • Stable Q4 growth driven by steady passenger vehicle demand • Outlook to remain stable for FY26 • Sector witnessed Robust demand in Q4 FY25, on back of ornamental P&T • Stable domestic demand outlook for the next financial year • Consistent coach demand; FY26 growth to be supported by Amrit Bharat, Vande Bharat trainsets & positive outlook in Metros • SS wagon demand is slightly down due to a shift in the wagon mix, with new tenders expected soon • Rising use of stainless steel in infrastructure—especially in Flyovers, ROBs, & FOBs—is expected to drive demand; outlook remains positive, with strong growth prospects in coastal regions • Lift and elevator demand likely to stay strong, supported by ongoing urbanization and infrastructure development • Moderate demand in Oil & Gas, Power & Water sectors • Emerging applications are set to gain traction across the Chemical & Fertilizer Industry, Hydroelectric Projects, and Thermal Power Plants, driving future demand Automobiles Pipes & Tubes Railways – wagons, coaches metros Infrastructure Process Industry
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Key Raw Materials- Price trend Note: Average quarterly prices; Source: LME Note: Average quarterly prices; Source: Big Mint9 22,308 20,401 17,288 16,589 18,413 16,259 16,038 15,571 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Nickel (USD/MT) 107,473 110,071 109,588 116,715 108,223 107,187 108,015 99,742 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Ferrochrome (INR/MT)
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Q4 FY25 Earnings call 10 CORPORATE ACCESS CORPORATE ACCESS JM Financial Institutional Securities invites you to the 4QFY25 and FY25 earnings conference call with Jindal Stainless Limited on Friday, 9 May 2025 04:00 PM IST | 06:30 AM USA EDT | 11:30 AM UK TIME | 06:30 PM HK/SINGAPORE TIME Company Participants Mr. Abhyuday Jindal Managing Director Mr. Tarun Kumar Khulbe CEO & Whole Time Director Ms. Shreya Sharma Head - Investor Relations Universal Dialin: +91-22-6280 1366 / +91-22-7115 8267 Toll Free Number – International USA: UK: Singapore: Hong Kong: 1 866 746 2133 0 808 101 1573 800 101 2045 800 964 448 Please dial-in 10 minutes prior to the conference schedule to ensure that you are connected in time Diamond Pass Link: For further information, please contact Mr. Ashutosh Somani | +91-98332 91928 | ashutosh.somani@jmfl.com Mr. Anirudh Nagpal | +91-81717 77974 | anirudh.nagpal@jmfl.com Ms. Rajvi Panchmatia | +91-99871 19979 | rajvi.panchmatia@jmfl.com
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11 Annexure
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YoY QoQ YoY Change (%) Change (%) Change (%) Revenue from operations 10,786 9,521 13% 10,066 7% 40,182 38,356 5% Total Expenditure 9,895 8,693 14% 9,062 9% 36,276 34,320 6% EBITDA 890 827 8% 1,003 (11%) 3,905 4,036 (3%) Other Income 359 61 488% 137 162% 639 369 73% Finance Cost 109 103 6% 120 (9%) 442 393 12% Depreciation 186 181 3% 189 (2%) 735 715 3% Exceptional gain/loss 152 31 385% 0 NA 152 31 NA PBT 1,107 636 74% 832 33% 3,519 3,328 6% Tax 182 159 14% 213 (15%) 808 797 1% PAT 925 476 94% 619 50% 2,711 2,531 7% Particular (Rs. crore) Q3FY25Q4FY24Q4FY25 FY24FY25 Abridged P&L Statement (Standalone) 12
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QoQ YoY YoY Change (%) Change (%) Change (%) Revenue from operations 10,198 9,907 3% 9,454 8% 39,312 38,562 2% Total Expenditure 9,137 8,700 5% 8,419 9% 34,646 33,858 2% EBITDA 1,061 1,208 (12%) 1,035 2% 4,667 4,704 (1%) Other Income 94 99 (5%) 55 71% 291 169 72% Finance Cost 150 161 (7%) 153 (2%) 612 554 10% Depreciation 241 242 (0%) 233 3% 956 879 9% Exceptional gain/(loss) (7) - NA (2) NA (7) 99 NA Share of profit of investments gain/(loss) (28) (15) NA 0 NA (44) 53 NA PBT 729 890 (18%) 702 4% 3339 3592 (7%) Tax 139 236 (41%) 201 (31%) 839 899 (7%) PAT 590 654 (10%) 501 18% 2500 2693 (7%) Particular (Rs. crore) Q4FY25 Q4FY24Q3FY25 FY24FY25 Abridged P&L Statement (Consolidated) 13
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14 Shareholding Pattern Shareholding pattern for the period ended 31st March 2025 Promoters 60.9% DII 6.9% FII 21.4% Retails & others 10.8% Other 39.1% Floating Stock %
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Contact Us 15 About Us: India’s leading stainless-steel manufacturer, Jindal Stainless, had an annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27. It has 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2025. In India, there are ten sales offices and six service centres, as of March 2025. The company’s product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks. Jindal Stainless relies on its integrated operations to enhance its cost competitiveness and operational efficiency. Founded in 1970, Jindal Stainless continues to be inspired by a vision for innovation and enriching lives and is committed to social responsibility. Jindal Stainless remains focused on a greener and sustainable future. The company manufactures stainless steel using electric arc furnace, a process that significantly reduces greenhouse gas emissions and allows for recyclability of scrap without compromising on quality. Shreya Sharma Head – Investor Relations shreya.sharma@jindalstainless.com Jindal Stainless Limited Tel: +91 11 4146 2222
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Thank You 16