Maharashtra Seamless Ltd. — Investor Presentation 2019

Jun 19, 2019

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Phone No.: 91-124-4624000, 2574326, 2574325, 2574728• Fax: 91-124-2574327 E-mail : contact@mahaseam.com Website : www.jindal.com GIN No: L99999MH1988PLC080545

19[th ] June, 2019

Ref.: MSL/G/SEC/SE/2019-20/

BSE Limited

Corporate Relationship Department 1[st ] Floor, New Trading Ring Rotunda Building, P J Towers Dalal Street, Fort MUMBAI - 400 001

Stock Code : 500265

National Stock Exchange of India Ltd.

"Exchange Plaza", C-1, Block G, Bandra-Kurla Complex, Bandra ( E), Mumbai - 400 051

Scrip ID : MAHSEAMLES

Sub: Press Release

Dear Sir,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of Press Release, being issued by the Company.

This is for your information and record please.

Thanking you,

Yours faithfully,

For MAHARASHTRA SEAMLESS LIMITED

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__ _ JlNJJ6L

REGO. OFF. & WORKS

Pipe Nagar, Village, Sukeli, N.H.17, B.K.G. Road, Taluka-Roha, Oistt. Raigad-402 126 (Maharashtra) Phone: 02194-238511, 238512, 238567, 238569•Fax: 021 94-238513

402, Sarjan Plaza, 100 Dr. Annie Besant Road, Opp. Telco Showroom . Worli, Mumbai-400 018 Phones : 022-2490 2570 /72 /7 4 • Fax : 022-2492 54 73

MUMBAI OFFICE

HEAD OFFICE KOLKATA OFFICE

5, Pusa Road, 2nd Floor, New Del hi-110005 Phones: 011-287528 62, 28756631 Emai[l] : jp ldelhi@bol.net.in Sukhsagar Apartment, Flat No. 8A, 8th Floor, 2/5, Sarat Bose Road, Kolkata - 700 020 Phone: 033-2455 9982, 2454 0053, 2454 0056 •Fax: 033 - 2474 2290 E-mail : msl@cal.vsnl.net.in 3A. Royal Court. 41, Venkatnarayana Road, T. Nagar Chennai-600017 Phone: 044-2434 2231• Fax: 044-2434 7990

CHENNAI OFFICE

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Earnings Presentation Year Ended 31[st] March 2019 June 2019

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This document contains “forward-looking statements” about our business, financial performance, skills and prospects. Statements about our plans, intentions, expectations, beliefs, estimates, prediction or similar expression for the future are forward-looking statements.

Forward looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future Oil & Gas Prices and their impact on investment programs by Oil & Gas Companies, Steel Prices worldwide & domestic, economic & political conditions. We can not assure that outcome of this forward-looking statements will be realized.

The Company disclaims any duty to update the information presented here. The material presented can not be used for any other purpose in any form without our express written consent.

www.alimtiaz.com

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#1 producer of Seamless pipes in India

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Facilities Brands and Customers 550k MTPA Leading supplier to Oil & Gas Seamless Pipes Capacity industry 200k MTPA ERW Pipes Capacity 43 MW Solar and Wind energy portfolio “MAHA” “Jindal Star” A globally recognised brand A national brand

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Financials Rs. 3,023 Cr Market Cap Regular dividends since IPO; 30% payout ratio for FY2019 FY19 Revenues: Rs. 3,061 Cr EBITDA margin 21.7% Stron balance sheet g

www.alimtiaz.com

*Standalone numbers as of March 31st, 2019

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Operational Highlights

• Total pipes production up 12.9% yoy, at 397k MT

• Seamless pipes production up 10.5% yoy at 325k MT

• ERW production up 25.3% yoy at 72k MT

• Continued ramp-up of Seamless Pipes capacities

• 350k MTPA Nagothane and 200k MTPA Mangaon plants are expected to reach to full capacity by June 2019

• Strong order book position of Rs. 810 Crore as on date

• Generated 62% of power requirement through renewable sources

• The Hon'ble Hyderabad Bench of National Company Law Tribunal on 21st January 2019 had approved the Resolution Plan submitted by Maharashtra Seamless Ltd. (Resolution Applicant) for acquisition of United Seamless Tubulaar Pvt. Ltd. under the Insolvency and Bankruptcy Code 2016. However, Hon'ble NCLAT vide its Order dated 8th April 2019 required the Company to deposit additional amount. The Company has filed an appeal before the Hon'ble Supreme Court and the matter is sub judice. Accordingly, United Seamless Tubulaar Pvt. Ltd. (USTPL) is not considered as subsidiary.

• The company had made investment in a Mining asset through its foreign subsidiaries .The subsidiary holding the mining investment has partially impaired the investment. Accordingly the company & its other subsidiaries have also impaired their investment and loans provided. The company has therefore not recognised any income on such loan given.

Financial Highlights

• Total Revenue of Rs. 3,061 Crore, up 42%

• EBITDA of Rs. 664 Crore, up 117%

• PBT of Rs. 639 Crore, up 120%

• PAT before exceptional items of Rs. 408 Crore, up 106%

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• PAT after exceptional items of Rs. 262 Crore, up 32%

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Strong energy prices generating strong demand for pipes from O&G industry globally

Indian market seeing strong demand for Seamless and Welded pipes from new oil refineries, pipelines, upgrade of refineries to BS-VI, ongoing replacement of old O&G pipelines in Mumbai High, Gujarat

Cross-country gas pipeline to generate strong demand for ERW pipes

Pharmaceutical and pre-fabricated industries are opportunities for ERW pipes

Smart cities projects to increase demand of pipes required for basic facilities

ucers Anti-dumping duties imposed by India, US and Europe benefiting Indian prod

www.alimtiaz.com 5

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Particulars FY19 FY18 Q4 FY19	Particulars FY19 FY18 Q4 FY19	Particulars FY19 FY18 Q4 FY19	Particulars FY19 FY18 Q4 FY19	Particulars FY19 FY18 Q4 FY19	Particulars FY19 FY18 Q4 FY19	Particulars FY19 FY18 Q4 FY19
	Seamless	ERW	Seamless	ERW	Seamless	ERW
Production (kMT)	325	72	294	58	99	22
Sales Volume (kMT)	316	73	294	55	95	21
EBITDA (Rs. Cr)	570	48	271	16	204	20
EBITDA/ton (Rs.)	18,026	6,670	9,191	2,800	21,356	9,656

Standalone Financials

Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth	Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth	Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth	Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth	Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth	Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth	Particulars (Rs. Cr) FY19 FY18 y-o-y Growth Q4 FY19 Q4 FY18 q-o-q Growth
Income from Operations	3061	2160	42.0%	965	631	53.0%
EBITDA	664	306	117.0%	235	124	89.0%
EBITDA Margin	21.7%	14.2%		24.4%	19.7%
PAT (Before exceptional items)	408	198	106.0%	127	88	43.0%
PAT (After exceptional items)	262	198	32.32%	-19	88	-122.0%
EPS (Rs.)	39.16	29.62		-2.87	13.20

• Total pipes production up 12.9% yoy, at 397k MT supported by improved operational efficiency

• Income from operations up 42% yoy

• EBITDA margins improved on account of higher sales and improvement in operational efficiency

• PAT increased significantly due to m

• improved argins

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Revenue

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607 703 786 965 3061
Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 FY19
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PAT (Before exceptional items) and PAT Margin

EBITDA and EBITDA Margin

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21.7%
23.7% 24.4% 664
18.2% 20.0%
235
144 128 157
Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 FY19
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EPS (Rs.)

13.3%

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16.5% 13.2% 408
12.5% 11.8%
127
100 88 93
Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 FY19
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14.98 13.21 13.85 39.16
-2.87
Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 FY19
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In Rs. Crores, unless otherwise stated

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28.11%
61.88%
7.69%
2.32%
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Promoters FII Mutual Funds Others

Select Major Investors	% O/S
Mutual Funds
L&T Mutual Fund	5.21%
IDFC Mutual Fund	1.45%
BNP Paribas Mutual Fund	0.25%
DSP Mutual Fund	0.78%
Total 7.69%

www.alimtiaz.com

Note: As of March 31, 2019

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Strategic Footprint with Access to Customers

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Facility Products Capacity
Pipes
3 Seamless 350 kMTPA
1 Sukeli, Raigad
ERW 200 kMTPA
Rajasthan
4 2 Bhagad, Mangaon Seamless 200kMTPA
Power
3 Durjani, Jodhpur Solar Power 20 MW
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4 Pokaran, Jaisalmer Solar Power 5 MW
1 Maharashtra
2 5 [Naigaon, Beed and] Solar Power 11 MW
5 Sukeli, Raigad
6 Nivkane, Satara Wind Power 7 MW
Manufacturing Facilities
Wind Power Plant
Solar Power Plant
www.alimtiaz.com
Ports
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Oil and Gas

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Infrastructure

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www.alimtiaz.com

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Industries Seamless ERW Others
(Coated and Premium Connection
Served Pipes Pipes Pipes and Pipe Fittings)
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Agriculture								
Automotive					
Bearing					
Chemical					
Engineering								
Fertilizers					
Housing								
Irrigation								
Mechanical								
Oil and Gas								
Petrochemical					
Power					
Public Health								
Types	• • •	Hot Finished Pipes & Tubes Cold Pilgered / Cold Drawn Tubes Boiler Tubes		• OCTG Casing and Tubing • OCTG Drill Pipe	• MS & GI Pipes • API Line Pipes • OCTG Pipes and Casing • Tubing	• •	3LPE,3LPP and FBE Coated Pipes Internal Coating Pipes	• Pipe Fittings • Premium Connection Pipes
	•	API Line Pipes
	•	OCTG Pipes

www.alimtiaz.com

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Shiv Kuamar Singhal Whole-Time Director - D.P. Jindal Group

E-Mail : shivkumar@mahaseam.com

Sanjiv Gupta DGM - Finance Tel. No.: 91-124-4624321

E-Mail : sanjiv@mahaseam.com

www.jindal.com CIN: L99999MH1988PLC080545

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