Corporate Present at a Ion 2010 11

8/2/2019 Corporate Present at a Ion 2010 11

1/15


2/15

2

This presentation and the accompanying slides (the Presentation), which has been prepared by JSL Stainless Limited (the "Company"), has been prepared forinformation purposes only and is not, and is not intended to be, an offer, or solicitation of offer, or invitation or recommendation to buy or sell any securities of theCompany, and shall not constitute an offer, solicitation or invitation or recommendation to buy or sell in any jurisdiction in which such offer, solicitation or invitation orrecommendation is unlawful. No part, or all, of this Presentation shall form the basis of, or be relied on in connection with, any contract or investment decision inrelation to any securities of the Company.

This Presentation is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any formfor any purpose. The information in this Presentation is being provided by the Company and is subject to change without notice. This Presentation has been prepared bythe Company based on information and data which the Company considers reliable, but 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 maynot 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, thisPresentation 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 thatinvolves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from anyfuture 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 assumptionson 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 thePresentation. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions orchanges in factors affecting these statements.

You acknowledge that you will be solely responsible for your own assessment of the market, the market position, the business and financial condition of the Companyand 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 Company.

This Presentation speaks as of the date mentioned herein. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipientsshall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date.

This Presentation is not being made and will not be made directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality of interstate orforeign commerce of, or any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail,telex, telephone and the Internet. Neither this Presentation nor any copy of this Presentation is being, and must not be taken or transmitted into the United States ordistributed, directly or indirectly, in the United States. This Presentation is not an offer for sale within the United States of any equity shares or other securities of theCompany. No securities may be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, asamended. The Company does not intend to register any of its securities for offer or sale in the United States or elsewhere, or to conduct a public offering of securities inthe United States or elsewhere.

The distribution of this Presentation in certain jurisdictions may be restricted by law and persons into whose possession this Presentation comes should informthemselves about and observe any such restrictions.

Disclaimer


3/15

3

JSL Stainless Ltd


4/15

Local Presence & Capacities

*Facilities under Implementation 4

HISAR, HARYANAIndias largest integrated stainless steel plant

(Steel Melting Shop, Hot Rolling and Cold Rolling)

- GURGAON, HARYANA fabrication facilitiesfor Architecture, Building & Construction (ABC)- ROHAD, HARYANA Design & fabrication of

Lifestyle retail products

ORISSAFerro Alloy facilitiesThermal Power Plant

Coke Oven

Integrated Stainless Steel Facility*

VIZAGFerro Chrome Plant

Leased Chrome Ore Mines in OrissaService CentersGurgoanMumbai ChennaiBaroda*


5/15

Overseas Presence

ItalyUSA

Spain

Poland

Russia

Turkey

DubaiIndia

S. KoreaChina

Thailand

Vietnam

Indonesia

5

Sales Office Service Centre Warehouse

Cold Rolling Unit


6/15

6

Debt Restructuring : CDR

FY 2009 Loss Before Tax ~Rs.870 Crore

Global commodity price meltdown

Rupee depreciation

Hisar plant shutdown for up gradation

Orissa Plant shutdown due to cyclone

Orissa Phase II Project cost ~ Rs.6400 Crore

Project under implementation in 2008

Financial closure was complete

Internal accrual shortfall

~ Rs3000 crore debt servicing over next 3

yrs

Proactively approached CDR to ensure longterm viability

Approval from over 60 lenders

Debt Restructuring through CDR cell

Approval from CDR majority lenders

Master restructuring agreement executed

with majority of domestic lenders

Long Term Debt ~ Rs7500 CroreWorking capital Debt ~Rs2700 Crore

Orissa Phase II project by March 2012

Debt Repayment spread over next 10 years

Deferment of repayments till July 2012

Interest moratorium on partial debt tillMarch 2012 (converted as loan)


7/15

Operational Performance

7

FY 2009-10

Particulars

Year ended

FY 09

Year ended

FY 10 Growth

Stainless Steel Production (tons) 466,834 677,841 45%

Capacity (tons) 720,000 720,000

Capacity Utilisation (%) 65% 94%

Ferro Alloys Production (tons) 149,406 161,393 8%

Capacity (tons) 250,000 250,000


Power Generation (million units) 835 1,730 107%

Capacity (million units) 1,971 1,971



8/15

Performance FY 2009-10 & H1 FY 2010-11

8

Rs in Crore

Rs.in crore

Particulars

Year ended

FY 09

Year ended

FY 10

Growth

%

Sales Volume (MT) 448,490 606,851 35%

Net Sales & other Income 4,862 5,766 19%EBIDTA 359 1,077 200%

EBIDTA % 7.4% 18.7%

Exception Gain / (Loss) (595) 233

Profit Before Tax (867) 570

Profit After Tax (580) 378

Rs in crore

ParticularsH1

fy 2010-11

H1

fy 2009-10

% change

Y-o-Y

SS Sales Volume (MT) 311,359 295,901 5%

Net Sales & other Income 3,367 2,677 26%EBIDTA 574 512 12%

EBIDTA % 17% 19% -

Profit Before Tax 242 242 0%

Profit After Tax 163 158 3%

Coresponding Comparision


9/15

Balance Sheet

9

Rs in crore

Particulars 31st March'10 31st March'09

Share Capital-Equity 37 32

Reserves and Surplus 1,876 1,258

1,914 1,290Secured Loans 7,286 5,180

Unsecured Loans 259 478

7,545 5,657

Deffered Tax Laibility (Net) 391 199

TOTAL 9,850 7,147

Fixed Assets-Net Block 7,788 5,966

Investment in Subsidiaries 156 151

Investment in Liquid Assets 188 741

Investment in others 8 5

Investment 351 897

Inventories 1,633 1,662

Sundry Debtors 1,060 562

Cash and Bank Balances 688 657

Loans and Advances 818 747Current Assets Loans & Advances 4,198 3,628

Less: Current Liabilities & Provisions 2,516 3,373

Net Current Assets 1,682 255

Misc Expenditure( not w/off) 28 28

TOTAL 9,850 7,147


10/15

Shareholding Pattern as on 30th September 2010

10

ShareholdersNo. Equity

Shares

%

HoldingPromoters & Group Holding

Promoters 74,465,935 40.13%

GDS held by promoters (underlying shares) 16,734,984 9.02%

Total Promotors & Group Holding 91,200,919 49.14%

Public & Others Holding

Public & Others 93,511,903 50.39%

GDS held by others (underlying shares) 869,350 0.47%

Total Public & Others Holding 94,381,253 50.86%

Total No. Shares 185,582,172 100.00%


11/15

11

Proposed Project Cost & Means of FinanceRs Million

Project CostOriginal

Appraised

Revised

Appraised

Increase /

(Decrease)

Basic Capital Equipment Cost 44,092 46,315 2,223

Blast Furnace - 3,700 3,700Contingency 2,425 2,401 (24)

Interest during construction 7,320 9,535 2,215

Working Capital Margin 2,131 2,290 159

Total 55,968 64,241 8,273

Rs Million

Means of FinanceOriginal

Appraised

Revised

Appraised

Increase /

(Decrease)

Equity/Internal accruals

- Equity 700 4,400 3,700

- Internal Accruals 11,268 15,291 4,023

Debt

- Senior Debt

(including ECB USD 250 mn) 39,000 39,000 -- Sub Debt 5,000 5,000 -

- New Loan - 550 550

Total 55,968 64,241 8,273


12/15

12

Orissa Investments

.

Orissa -Captivemines /

linkages

Captivethermalpower

In-houseCoke

Ovens

FerroChrome

Ferromanganese

Silico

manganese

BlastFurnace

Overseasmining

ventures

Costimprovement/mtOn existing cost

structure at Hisar

Energy efficient plant - liquid material flow

Feritic grade competitiveness

Increased coil weight to 36ton

Wider Width material

Lower lo istic costs bein closer to ort


13/15

Annexures

13


14/15

14

Contact us at

For Secretarial InformationJitendar Kumar

Company secretaryPhone:+91 11 26188340-50

Direct:+91 11 61462502

For Corporate Information

Sandeep SikkaHead Corporate Finance

Phone:+91 11 26188340-50

Direct:+91 11 61462134

Amit Berry

Assistant General Manager

Corporate Finance

Phone:+91 11 26188340-50

Direct:+91 11 61462181


15/15

Thank You

15

Corporate Present at a Ion 2010 11

Documents

Transcript of Corporate Present at a Ion 2010 11