Jindal Worldwide Ltd. — Earnings Release 2024

Jun 11, 2024

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11[th] June, 2024

To, To, National Stock Exchange of India Limited BSE Limited Exchange Plaza Listing Department Plot no. C/1, G Block, Phiroz Jeejeebhoy Tower Bandra- Kurla Complex, Bandra (E), 25th Floor, Dalal Street, Mumbai - 400 051 Mumbai - 400 001 NSE Symbol: JINDWORLD Security Code: 531543

Dear Sir/Madam,

Subject: Submission of Earnings Presentation for the quarter and financial year ended 31[st] March, 2024

With reference to above mentioned subject, please find attached herewith the earnings presentation of the Company consisting of Key Financials and Operational Highlights for the quarter and financial year ended 31st March, 2024.

You are requested to take note of the above.

Thanking you.

Yours Sincerely,

For Jindal Worldwide Limited

Digitally signed by AMIT AMIT YAMUNADUT YAMUNADUTT AGARWAL T AGARWAL Date: 2024.06.11 15:43:00 +05'30'

Amit Agrawal Vice Chairman & Managing Director DIN: 00169061

Encl.: As above

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Jindal Worldwide at a glance

Wide product offering: Asia’s largest fully Experienced management integrated manufacturer team with over 3 decades Denims, Bottom Weight fabrics, Premium Shirting's, of denim fabric of experience and Home Textile products Vast clientele including Government recognized One of the Largest Zeromost of the popular export house with export Liquid Discharge and energy domestic and presence across 20+ efficient facility international brands Countries Diversification into high High return ratio with ROE Over 3,000 employee growth segment of and ROCE at 11% and 16% workforce Electric Two-Wheelers respectively

Diversification into high growth segment of Electric Two-Wheelers

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Company Overview

▪ Founded in 1986 by Dr. Yamunadutt Agrawal, Jindal Worldwide Ltd (Jindal) today is a diversified and integrated textile fabrics and shirting manufacturer and one of the world’s largest denim fabric manufacturers.

▪ The company’s facilities are spread over 4 manufacturing units in Ahmedabad, Gujarat, with state-of-the-art integrated facilities from high-end spinning, weaving, dyeing, and packing.

• Jindal is today diversifying into new high-growth business opportunities, beginning with a venture in two-wheeler electronic vehicles.

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Denim Bottom Weights Yarn Dyeing
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Premiums
EV Vehicles
Printed Shirtings
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Revenue (INR Mn) & EBITDA Margins (%)

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25,592
20,700
18,141
16,996
11.51%
8.46%
6.84%
10.10%
FY21 FY22 FY23 FY24
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FY24 Segmental Revenue (%)

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Others ,
Premium 13%
Shirtings,
6%
Bottom
Weights,
16% Denim,
65%
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Key Milestones

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• 2012
• 1980 Started spinning unit with capacity of 45 • 2021
Started humble beginnings as a tonnes per day. Undertook capex to increase
•
manufacturer of home textiles. 2014 spinning capacity to 110 tonnes
• 2005 Expanded denim capacity and Forayed per day.
Made first foray into denim into Bottom Weight Fabrics. • 2022
•
manufacturing with a capacity 2015 Ventured into EV Vehicles by
of 10 MMPA. Expanded denim capacity. Started Yarn acquiring Earth Energy Ltd.
Dyed Fabrics.
1980-2005 2006-2010 2011-2015 2016-2020 2021 onwards
• 2016
Expanded Denim Capacity to 85 MMPA.
• 2008 • 2017
Undertook expansion of
Introduced Shirtings and further increased Denim capacity to 116 MMPA.
denim manufacturing • 2018
capacity to 20 MMPA. Expansion of spinning unit by 20 tonnes per day.
• 2010 • 2019
Increased the capacity
Commissioned power plant and expanded denim capacity further to 140
further to 30 MMPA.
MMPA.
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Building Global Presence

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Germany
USA Spain Montenegro Turkey
Nepal Korea
Morocco Lebanon Bangladesh
Mexico Egypt
Thailand
Guatemala Dominican Mauritania Jindal Vietnam
Honduras Republic
Worldwide
Colombia Limited
Ahmedabad
Ecuador
FY24 Geographical Revenue (%) Peru India
7%
Chile
South Africa
93%
Head Office and
Manufacturing Unit
Domestic International Ahmedabad, Gujarat, India
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Jindal Mobilitric

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• Jindal Worldwide is pursuing diversification through clear strategies and thus forayed into the high growth EV Industry by acquiring Earth Energy in May 2022, an EV startup.

• Earth Energy, is a green vision initiative incorporated in 2017 that stood as one of top 20 most promising Start-Ups in 2020.

• Jindal Mobilitric is building a new manufacturing facility in Ahmedabad to supplement the existing Earth Energy facility in Maharashtra that has 97% of the production based on Make in India initiative.

• The company is gearing up to release 3 electric vehicle models by Q1 FY25.

• Production Capacity – 2,50,000 units Per Annum

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Jindal Worldwide Ltd.
Earth Energy
• Green Initiative • Brand Value
• Technology • Global Presence
• Innovation • Sales & Service
•
• Tools and Technology
Localization
•
• Operational Facility
Pricing
• Experience
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With breakthrough technology, brand comes with higher customer delight and product features along with unmatched Value and Performance thus giving Jindal Mobilitric edge over Competition to create Big Vision in Sales Journey that is supported by market opportunity and potential.

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Specifications: Unmatched Electric Two-Wheeler Vehicles

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Intelligent Features

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Performance Features

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Riding and Safety Features

• Accurate Range Prediction - in the range of +/- 2.5km/charge

• TBT Navigation

• OTA for Model Based fault rectification

• Dynamic Energy Usage Control

• CAN Based Error Coding for all the failures

• Accurate Power Monitoring via BMS + PMS

• Variable Regen on Screen

• Guaranteed Minimum range

• High Gradeability

• Smart Charging Stack

• SOH Tracker

• MID Drive Power Train

• Reverse Gear System

• Side stand sensor

• Driver Scoring

• Active Three stage Ignition Protection

• Active Aux System

• SOS & Accidental SOS

• Charge Control

• Active Ground monitoring

• Forced Battery Balancing

• Vehicle Auto OTA Possible

• CBS System (Combined Brake System)

• • 3 Ride Modes (ECO, Ride, Pro)

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Financial Highlights

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Key Financial and Operational Highlights

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Q4-FY24 Consolidated Financial Performance Revenue from EBITDA EBITDA Margin Operations INR 555 Mn 9.67% INR 5,738 Mn PAT PAT Margin Diluted EPS INR 282 Mn 4.91 % 1.41 INR / Share FY24 Consolidated Financial Performance Revenue from EBITDA EBITDA Margin Operations INR 1,832Mn 10.10 % INR 18,141 Mn PAT PAT Margin 4.17% Diluted EPS INR 756 Mn 3.77 INR / Share

Operational Highlights

• Ø The Revenue from Operations have increased from INR 437.8 Cr. to INR 573.8 Cr. in Q4FY24 compared to Q3FY24 showing an improvement of 31.10% on Q-o-Q basis due to normalizing the business operations and increasing the demand of Fabric in domestic and Export markets. Export sales have also shown an improvement from Rs. 26.59 Cr. in Q3FY24 to Rs. 45.07 Cr. in Q4FY24

• Ø The Profit Before Tax has increased from Rs. 28 Cr. to Rs. 38.9 Cr. in Q4FY24 compared to Q3FY24 showing an improvement of 38.90% on Q-o-Q basis due to Change in inventories due to increase in production and reduction of net finance cost

• Ø The Profit After Tax has increased from Rs. 21 Cr. to Rs. 28.20 Cr. in Q4FY24 compared to Q3FY24 showing an improvement of 34.30% on Q-o-Q basis showing a major improvement in profitability

• Ø Other comprehensive income is shown as Rs. (2.6 Cr.) in Q4FY24 due to revaluation of investments in shares of companies other than associate and subsidiary concern and showing their effect

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Quarterly Consolidated Income Statement

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Particulars (INR Mn)	Q4-FY24	Q4-FY23	Y-o-Y	Q3-FY24	Q-o-Q
Operational Income	5,738	5,495	4.4%	4,378	31.1%
Total Expenses	5,183	4,921	5.3%	3,871	33.9%
EBITDA	555	574	(3.3)%	507	9.5%
EBITDA Margins (%)	9.67%	10.45%	(78)Bps	11.58%	(191)Bps
Other Income	7	4	75.0%	5	40.0%
Depreciation	84	91	(7.7)%	84	NA
Interest	89	131	(32.1)%	148	(39.9)%
PBT	389	356	9.3%	280	38.9%
Tax	107	91	17.6%	70	52.9%
Share of Profit of Associates	0	0	NA	0	NA
Profit After tax	282	265	6.4%	210	34.3%
PAT Margins (%)	4.91%	4.82%	9 Bps	4.80%	11 Bps
Other Comprehensive Income	(26)	5	NA	-	NA
Total Comprehensive Income	256	270	(5.2)%	210	21.9%
Diluted EPS (INR)	1.41	1.32	6.8%	1.05	34.3%

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Annual Consolidated Income Statement

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Particulars (INR Mn)	FY24	FY23	Y-o-Y
Operational Income	18,141	20,700	(12.4)%
Total Expenses	16,309	18,318	(11.0)%
EBITDA	1,832	2,382	(23.1)%
EBITDA Margins (%)	10.10%	11.51%	(141) Bps
Other Income	22	15	46.7%
Depreciation	335	339	(1.2)%
Interest	494	518	(4.6)%
PBT	1,025	1,540	(33.4)%
Tax	269	383	(29.8)%
Share of Profit of Associates	0	0	NA
Profit After tax	756	1,157	(34.7)%
PAT Margins (%)	4.17%	5.59%	(142) Bps
Other Comprehensive Income	25	5	NA
Total Comprehensive Income	731	1,162	(37.1)%
Diluted EPS (INR)	3.77	5.77	(34.7)%

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Historical Consolidated Income Statement

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Particulars (INR Mn)	FY20	FY21	FY22	FY23	FY24
Operational Income	21,989	16,996	25,592	20,700	18,141
Total Expenses	20,598	15,833	23,429	18,318	16,309
EBITDA	1,391	1,163	2,163	2,382	1,832
EBITDA Margins (%)	6.33%	6.84%	8.45%	11.51%	10.10%
Other Income	66	247	54	15	22
Depreciation	455	293	304	339	335
Interest	610	493	449	518	494
PBT	392	624	1,464	1,540	1,025
Tax	108	182	367	383	269
Profit After tax	284	442	1,097	1,157	756
PAT Margins (%)	1.29%	2.60%	4.29%	5.59%	4.17%
Share of profit/loss of associates	1	-	(5)	0	0
Other Comprehensive Income	-	-	90	5	25
Total Comprehensive Income	285	442	1,182	1,162	731
Diluted EPS (INR)	1.42	2.20	5.45	5.77	3.77

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Historical Consolidated Balance Sheet

Equity and Liabilities (INR Mn)	FY22	FY23	FY24
Equityand Liabilities
1)Shareholders' Fund
EquityShare Capital	201	201	201
Reserves and Surplus	5,156	6,299	6,990
Total Equity	5,357	6,500	7,191
2)Non-Current Liabilities
A)Financial Liabilities
i)Borrowings	1,073	2,783	2,072
B)Deferred tax Liabilities	120	103	101
Total Non-current liabilities	1,193	2,886	2,173
3)Current Liabilities
A)Financial Liabilities
i)Borrowings	4,913	5,591	6,758
ii)Trade Payables due to
- Other than Micro & Small Enterprise	856	1,551	1,100
iii)Other Financial Liabilities	-	15	59
B)Other Current Liabilities	74	208	126
D)Current Tax Liabilities	45	23	0
Total Current Liabilities	5,888	7,388	8,043
Total Equityand Liabilities	12,438	16,774	17,407

eet
Assets(INR Mn)	FY22	FY23	FY24
Non Current Assets
A)Property, plant and equipment	2,041	3,648	3,598
B)Capital Work in Progress	-	90	49
C)Goodwill on Consolidation	6	6	6
D)Other Intangible Assets	-	43	133
E)Financial Assets
i)Investments	185	236	213
ii)Other Financial Assets	10	9	41
F)Other Non-current Assets	2	2	2
G)Deferred Tax Asset	3	3	3
H)Current Tax Assets	-	-	-
Total Non current assets	2,247	4,037	4,045
Current Assets
A)Inventories	2,565	3,229	3,321
B)Financial Assets
i)Investments	2	3	3
ii)Trade Receivables	4,779	4,988	5,257
iii)Cash & Cash Equivalents	94	127	43
iv)Bank Balances other then above	245	2,992	3,002
v)Loans	393	481	72
vi)Other Financial Assets	13	18	45
C)Current Tax Assets	-	114	135
D)Other Current Assets	2,101	785	1,484
Total Current Assets	10,191	12,737	13,362
Total Assets	12,438	16,774	17,407

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Consolidated Financial Performance

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EBITDA (INR Mn) & EBITDA Margins (%) PAT (INR Mn) & PAT Margins (%)
Operational Income (INR Mn)
25,592 2,382
1,157
2,164 1,097
20,700
1,832
18,141
16,996
756
1,163
442
5.59%
11.51% 4.29%
8.45%
6.84% 10.10% 2.60% 4.17%
FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24
Net Debt Equity (x) Net Worth (INR Mn) RoCE (%) & RoE (%)
ROCE ROE
7,191
1.05 6,500
0.97 28.40%
0.81 0.80 5,357
21.93%
20.49%
4,204 17.19%
15.95% 15.97%
10.51% 17.80%11.04%
7.55%
FY20 FY21 FY22 FY23 FY24
FY21 FY22 FY23 FY24
FY21 FY22 FY23 FY24
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Capital Market Data

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Share Price Performance (Up to 31 [st] March, 2024) Dividend (INR/ Share)
110%
0.25
90%
0.20 0.20
70%
50% 0.15
30%
10%
-10%
-30%
-50% FY21 FY22 FY23 FY24
Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24
on FV of INR 1 per share
Jindal Sensex
Price Data (As on 31 [st] March, 2024) INR Shareholding Pattern (As on 31 [st] March,2024)
Face Value 1.00
Current Market Price 310.9
Public,
52 Week H/L 439.8/268.0 39.69%
Market Cap (INR Mn) 62,341.8 Promoter,
60.31%
Equity Shares Outstanding (Mn) 200.5
1 Year Avg. Trading Volume ('000) 320.6
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Disclaimer

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Jindal Worldwide Ltd.

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Jindal Worldwide Ltd . (hereinafter referred to as “Company”), which are expressed in good faith and in their opinion reasonable, including those relating to the Companyʼs general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Companyʼs business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive 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. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

For further information please contact our Investor Relations Representative:

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Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email: Jindal@valoremadvisors.com

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