q4 fy16 industry update & key performance highlights [company update]

8/17/2019 Q4 FY16 Industry Update & Key Performance Highlights [Company Update]

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Q4 FY’16

Industry Update &

Key Performance Highlights

4th May, 2016


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DISCLAIMER

This presentation may contain certain forward looking statements concerning JSPL’s

future business prospects and business profitability, which are subject to a number of

risks and uncertainties and the actual results could materially differ from those in suchforward looking statements.

The risks and uncertainties relating to these statements include, but are not limited to,

risks and uncertainties regarding fluctuations in earnings, our ability to manage growth,

competition (both domestic and international), economic growth in India and the target

countries for exports, ability to attract and retain highly skilled professionals, time and

cost over runs on contracts, our ability to manage our international operations,government policies and actions with respect to investments, fiscal deficits, regulations,

etc., interest and other fiscal costs generally prevailing in the economy. Past performance

may not be indicative of future performance. We do not undertake to update our

forward-looking statements.

This presentation is not intended, and does not, constitute or form part of any offer,

invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sellor otherwise dispose of, any securities in JSPL or any of it’s subsidiary undertakings or

any other invitation or inducement to engage in investment activities, neither shall this

presentation nor the fact of it’s distribution form the basis of, or be relied on in

connection with, any contract or investment decision. Few numbers in this presentation

are purely indicative & provisional and could change later.

2Analyst Presentation


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STEEL OUTLOOK

Q4

FY’16

INDUSTRYDEVELOPMENTS

BRIEF

BACKGROUND FINANCIALPERFORMANCEOPERATIONALPERFORMANCE

3

PRESENTATION OUTLINE


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5/62

-0.5

6

1.3

3.5

5.6

11.4

9

0.7

3.2

6.6

9.6

-2

0

2

4

6

8

10

12

E l e c t r i c i t y S e c G r o w t h ( y - o

- y ,

% )

0.6

2.8

-0.5

1.3

3.8

3

4.7

2.3 2.9

1.2

5

-1

0

1

2

3

4

5

6

Apr'15May'15 Jun'15 July'15 Aug'15 Sep'15 Oct'15 Nov'15Dec'15 Jan'16 Feb'16

M i n i n g S e c G r o w t h ( y - o - y ,

% )

The Industrial Health

5

Overall IIP Trend Manufacturing

Mining Electricity

4.2

2.2 5.4

4.7

6.9

2.6

10.6

-4.4

-2.4 -2.8

0.7

-6

-4

-2

0

2

4

6

8

10

12

M a n u f a c t u r i n g G r o w t h ( y - o - y ,

% )

3.4

2.5

3.8 4.1

6.3

3.6

9.8

-3.2

-1.26 -1.5

2

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

Apr'15May'15 Jun'15 July'15 Aug'15 Sep'15 Oct'15 Nov'15 Dec'15 Jan'16 Feb'16

M i n i n g S e c G r o w t h ( y - o - y ,

% )


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India’s per capita steel consumption of 59.4Kg, is way below world avg

of 217 Kg in 2014.Domestic Steel Demand Increasing during April-Feb ‘16 • Finished Steel: Consumption stood at 73 mt, a growth of 4.6% (y-o-y)• Fall in Imports post February due to MIP & rising international prices (10 mln

MT imported till Feb)

Increased Domestic Raw material availability :• Iron Ore availability increased by 20% to estimated 155 Mt in FY 15-16

• More then 62 Mt additional Iron ore mining capacity came up in FY 15-16.

• Coal (from CIL & SCCL) availability increased by 9% (50Mt) to 597 Mt in FY

15-16

Government’s Construction & Infrastructure led Growth Model: Steel is central to the idea of Urbanisation which is the focus of all programmes

announced by the Government of India

• Union Budget 2016-17: Govt. to spend Rs 2,18,000 Crores on roads,railways

Green Shoots for Steel Industry

6


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Crude production marginally increased by 1% during FY ’16

Finished Steel Demand :o April – March ‘16 : India’s Consumption of finished steel grow by 4.6 % (y-o-y)

o While steel demand increases by 24% During March ‘16 (m-o-m)

Imports :o April – March ‘16: increased by 20.4 % (y-o-y),

Exports :o April – March ‘16: Exports down by 32 % (y-o-y),

How the Indian Steel Industry fared during April ‘15-Feb‘16

(Qty :million MT) FY ‘16 March '16

Qty

change

(y-o-y) Qty

change

(m-o-m)

Production: Crude Steel 89.8 0.9% 8.059 8 %

Finished Steel (Non Alloy+Alloy)

Import 11.7 25.7% 0.997 9.3%

Export 4.08 (27)% 0.350 15.9%

Real Consumption 80.5 4.6% 8.143 23.7%

Source: JPC


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STEEL OUTLOOK

Q4

FY’16


BRIEFBACKGROUND

FINANCIALPERFORMANCE

OPERATIONALPERFORMANCE

8



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INDUSTRY UPDATESTEEL SECTOR

9


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Iron Ore Lump Prices Iron Ore Fines Prices

Odisha’s 10-30mm lumps prices decreased by

- 55% since Apr’15 (from Rs.4800 to Rs.2300 /MT)

Chhattisgarh’s 10-40 mm lumps prices decreased by

- 38% since Apr’15 (from 4040 to 2520/MT)

Source: Steel Mint Odisha’s ex-mines prices incl royalty excl DMF, Chhattisgarh’s ex-mines prices exclude royalty

10

Odisha’s iron ore fines prices decreased by

- 28% since Apr’15 (from Rs.1800 to 1300/MT)

Chhattisgarh’s iron ore fines prices decreased by

- 27% since Apr’15 (from Rs. 2546 to Rs. 1860/MT )

1800

16501600

1525 1430

1600

14501300 1300

2546

2243

1960

1660 1660 16601560

1560

1560 1710

1860

900

1200

1500

1800

2100

2400

2700

3000

P r i c e i n R s / t ( e x - m i n e s )

Odisha Fines (0-10 mm, Fe 63%)

Chhattisgarh Fines (0-10 mm, Fe

64%)

4040

38403840

3840

3840

2900

2215 2180 22502520

4800

4575 4500

4300

3130

2800 2800

2200 2200 2300

1600

2000

2400

2800

3200

3600

4000

4400

4800

5200

P r i c e i n R s / t ( e x - m i n e s )

Chhattisgarh DR CLO (10-

40mm, Fe 65.5%)

Odisha BF Lumps (10-30mm,

Fe 62- 63%)

Domestic Iron Ore Prices depicted a declining trend in FY 15-16However prices firmed up during Q4 FY ‘16


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20

30

40

50

60

70

80

P r i c e s ( U S D / t ) C F R N . C h

i n a

International Iron Ore Fine Prices (Fe 62%)

International Raw Material Prices ($ / MT)

11

International Coking Coal Prices

• increased by 5% since Apr’15

Prices ($/t) FOB Australia

Prices ($/t) CFR N.China, delivered at Tianjin portSource: Platts

Iron Ore Fines (Fe 62% CFR China)

• increased by 27% since Apr’15

39

50

60

55

63

50

60

70

80

90

100

110

1 - A p r - 1 5

1 - M a y - 1 5

1 - J u n - 1 5

1 - J u l - 1 5

1 - A u g - 1 5

1 - S e p - 1 5

1 - O c t - 1 5

1 - N o v - 1 5

1 - D e c - 1 5

1 - J a n - 1 6

1 - F e b - 1 6

1 - M a r - 1 6

1 - A p r - 1 6

P r i c e s i n U S D / t ( F O B A u s , )

Premium Low Volatile Hard Coking Coal Prices

98

93

74

78


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INDUSTRY UPDATEPOWER SECTOR

12


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CoalProduction

• Coal India supplied 408 MT of fuel to the power sector in 2015-16, up 6% over the previous year• CIL’s Overall coal production was 535MT (growth of 8.6%) against a target of 550MT

• Sluggish demand has resulted in piling up of coal stock at nearly 58MT

Industry Update - Coal & Power

Long TermCoal Linkage

• MoU with power companies for coal linkage which expired on March 31, will not be extended

beyond June 30’16. And plants need to procure coal through process of special forward e-auction

of coal for power sector

• A new policy might be formulated by MoC, GoI to allocate coal linkages to States and DISCOMS,

and they could invite tariff based bidding on the allocated linkage.

Coal Imports• India imported 182MT in 2015-16, down 16% from 216MT in the previous year, saving Rs 28,000

Cr in foreign exchange

UMPPRevised

Documents

• The Union Cabinet is likely to give green signal soon to standard bid document which will facilitate

auctioning of domestic coal-based four or five Ultra Mega Power Projects, entailing an investment

of Rs 30,000 Cr each.


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Source: CEA

210.7

5.8

42.8 38.8

298.1

Thermal Nuclear Hydro Renewables Total

Installed Capacity (GW) in India

Thermal

69%

Nuclear2%

Hydro

15%

Renewables

14%

Wind 26.4

Solar 6.8 Bio Mass

4.9

Small

Hydro 4.3

Renewables (GW) Portfolio

Installed Capacity

Portfolio

22566

23976

FY 15 FY 16

Generation Capacity Addition in MWs Y-o-Y

6.25% Increase

Installed Capacity in India (Mar 2016)

268 GW in

FY15


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Growth of Renewables in India

10648 12807 16897 18485 21136 23444 267696

32

9411686

26323744 6763

31353601

40144419 4943

26052913

3411 3643

3804

40554274

0

5000

10000

15000

20000

25000

30000

3500040000

MW Small Hydro Biomass Solar Wind

2010 2011 2012 2013 2014 2015 2016

RES Type % CAGR since 2012

WIND 12 %

SOLAR 63 %

BIOMASS 12 %

SMALL HYDRO 5.7 %

Target for 2022

Additions in

FY 16

Target for

FY 16

WIND SOLAR

60 GW 100 GW

2.4 GW 1.4 GW

3.4 GW 3.08 GW

Source: CEA


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Changing Generation Mix

Capacity Additions 2015 Vs 2016

Thermal,

20830

Solar 1112Wind 2308

2015 (MW)

Thermal,

22460

Solar 3018

Wind 3414

2016 (MW)


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Transmission Sector

24%22.5%

25.9%

51.0%49.2%

17.9%

19.5%

17.8%

27.2%

21.6%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

0

100

200

300

400

500

600

Mar 1992 Mar 1997 Mar 2002 Mar 2007 Mar 2012 Mar 2016

Generation Capacity (GW) Tr (1000 Kms)- 66kV and above Gen Growth Tr. Growth

Transmission Network growth has not

kept pace with Growth in the Installed

Generation Capacity

Source: CEA


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1048.0

1107.0

FY 15 FY 16

Electricity Generation in BUs

5.6 % Increase Y-o-Y -2.1%

-3.4%

-1.5% -1.7%

-4.0%

-3.5%

-3.0%

-2.5%

-2.0%

-1.5%

-1.0%

-0.5%

0.0%

Energy Deficit Peak Deficit

Mar-15 Mar-16

Major Highlights (Mar 2016)

494

535

FY 15 FY 16

CIL Production in Million Tonnes

8.6 % Increase FY 16

Imported Coal as % of Total Requirement

A. Imported (MT)

B. Domestic (MT)

% Ratio - A/(A+B)

185

680

21.3 %

Source: CEA


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Transmission & Distribution

2210128114

FY 15 FY 16

Transmission Lines Added (C-Kms)

27% Increase

30.4% 28.7% 27.2%25.0% 25.4% 24.0% 23.7% 23.0%

21.5% 20.8%

0%

5%

10%

15%

20%

25%

30%

35%

2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14* 2014-15*

All India T&D Losses (in %)Provisional Data

20.8%

8.9%6.5%

16.6%

6.7%8.3%

4.5% 3.5%

T&D Losses – Comparison (FY12 )

Source: CEA


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Capacity Additions and Reducing % PLF

149 160 174 200 224 245 272 298

77% 78% 75% 73%70% 66% 66% 62%

0%

20%

40%

60%80%

100%

0

50

100

150

200

250

300

350

2009 2010 2011 2012 2013 2014 2015 2016

Total Capacity % PLFINSTALLED CAPACITY (GWs) vs PLF (%)

75% 76%

59% 55%55%64%

0%

20%

40%

60%

80%

Mar-2015 Mar-2016

Central State PrivateFall in PLF is majorly due to inefficient State Utilities

Source: CEA


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STEEL OUTLOOK

Q4

’FY16


BRIEFBACKGROUND

FINANCIALPERFORMANCE

21


OPERATIONALPERFORMANCE


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Steel PowerMines &Minerals

GlobalVentures

Current Capacities – Domestic & Global

Business Segments

• Domestic

**Includes 600 MW - synchronized & will be commissioned in FY16

ConstructionMaterial &

Solution

22

4.75 MTPA Steel* 3.11 MTPA*

IPP – 3400** MW

CPP – 1649 MW

Renewable – 24 MW

2 MTPA Steel

6.25 MTPA Mines

Cement

Road solutions

LGS

Copyright @ 2015 Jindal Steel & Power Limited


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Capacity in

deail

Iron Making

(6.75 MTPA)

BF 2.13 MTPA

DRI 3.12 MTPA

HBI 1.50 MTPA

Liquid Steel

(6.75 MTPA)

SMS 6.75 MTPA

Finished Steel

(6.55 MTPA)

WRM 0.60 MTPA

RUBM 0.75 MTPA

MLSM 0.60 MTPA

Plate Mill 2.20 MTPA

BRM 2.4 MTPA

Steel Capacities across Life Cycle

** To be commissioned 23Copyright @ 2015 Jindal Steel & Power Limited

BRM in Angul 1.4* - Commissioning in 1QFY17 Effective Finished Steel 8.05 MTPA


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Capacity in

deail

Raigarh (Chhattisgarh)

SMS

3.25MTPA

BF 1.67MTPA

DRI 1.32MTPA

Plate Mill1.00 MTPA

RUBM 0.75MTPA

MLSM 0.60MTPA

CPP 839MW

Angul(Odisha)

SMS 1.5MTPA

DRI 1.8

MTPA

CGP225,000Nm3/Hr

Plate Mill1.2 MTPA

CPP 810MW

Barbil(Odisha)

PelletPlant

9 MTPA

Patratu(Jharkhand)

WRM0.60

MTPA

RebarMill 1.0MTPA

Oman

SMS 2.0MTPA

HBI 1.5MTPA

BRM 1.4

MTPA

JPL

Tamnar2800

MW

600

MW*

Mining

Iron Ore3.11

MTPA

CoalOverseas

6.20

MTPA

Detailed plant wise capacities

** To be commissioned

Power Hot Metal Liquid Steel Finished Steel

24Copyright @ 2015 Jindal Steel & Power Limited


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JSPL diversifies into Value added products – will boost EBITDA margins

Speed Floor LGSCement

Road Stabilizer Bricks & PaversEPS Panels LWA

Welded MeshCut & Bend

25


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Angul

Satara

Tamnar

RaigarhCaptive power projects (within JSPL)

ProjectCapacity

(MW)Fuel Configuration Status

DCPP, Raigarh 540 Coal 4x135 MW Operational

JSPL, Raigarh 299

Coal &

waste

heat

2x25 MW & 40 MW

(Waste heat)

2x55 MW

3x25 MW

24 MW

Operational

Angul, Odisha 810 Coal 6 x135 MW Operational

Independent Power Projects (IPP)

Project

Capacity

(MW) Fuel

Configurati

on Status

Tamnar 1(a) 1,000 Coal 4x250 MW Operational

Tamnar 2(a) 2,400 Coal 4x600 MW

1,800 MW

operational,

balance 600 MW

synchronized

Satara (b) 24 Wind 18x1.5 MW Operational

(a) Within JPL; (b) Within JSPL

IPP CPP

One of the largest thermal portfolios in India

JSPL - Power Capacities



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96.43% subsidiary of JSPL

JINDAL POWER LIMITED

27

EUP -I1000MW (4 X 250)

EUP -II1200MW (2 X 600)

EUP -III1200MW (2 X 600*)

*600 MW Synchronized, Await Commissioning


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Tamnar-I, 1,000 MW (EUP I)

Awaiting clarity on Tara

Coal Block

In the interim, coal

sourced through – market

purchase and e-auction

Bilateral/short term/

merchant

258km transmission line

from plant to national grid

Tamnar-II - 1,200 MW (EUP II)

Long term linkage from

Mahanadi Coal Limited

(MCL) and South Eastern

Coalfields Limited (SECL)

TNEB – 400MW

CSEB – 60MW

KSEB – 200MW

KSEB – 150MW

Full Open access for 400MW

TNEB PPA commenced from

Oct 2015

Tamnar-II - 1,200 MW (EUP III)

Awaiting clarity on Gare

Palma IV/2 & 3 Coal mine

Market purchase and e-

auction

CSEB – 60MW

Open access to be finalised

against PPAs

FSA

PPA

Evacuation

Raw materials, transmission & PPAs in place for achieving higher PLF

(a) Exc ludi ng auxi li ary consumpti on

Key Contractual Arrangements for JPL



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Project Buyer Type

Period Quantum

(MW)From To

Tamnar II

(Phase 1)Tamil Nadu Long Term Feb-14 Sep-28 400

Tamnar II

(Phase 1)

KSEB

Long Term Jun-16 May-41 200

Tamnar II

(Phase 1)Long Term Oct-17 Sep-42 150

Tamnar II

(Phase 1)

Chhattisgarh

Long Term

After commercial

operation of Unit and for

complete life of plant

60

Tamnar II

(Phase 2)Long Term

After commercialoperation of Unit and for

complete life of plant

60

PPA Arrangements

Over 30% of total capacity tied up *

* Out of 3400 MW (IPP) 29Copyright @ 2015 Jindal Steel & Power Limited


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Upcoming PPAs

Procurer Type Quantum (MW) Schedule delivery Tenure (years)

Uttar Pradesh Long Term 2,800 Oct-16 15

Bihar Long Term 5003 year after

submission of RFPNA

Uttar Pradesh Long Term 1,000 Oct-16 15

JPL - Well placed on account of low capital cost base



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• Tamnar II (Phase 1):

350 MW KSEB PPA, transmission corridor

is expected from Jun-16

• Long term access from WR to NR granted

for 557 MW is expected to be available by

Jun-16 upon commissioning of Champa –

Kurukshetra HVDC link (3,000 MW). This

will be useful for power sale to UP

• No constraint in power evacuation to

Western and Eastern Region entities

including Bangladesh, where we have

participated for 250 MW power supply

Kolhapur

Narendra

Wardha

Warangal

Warora

Nizamabad

Raigarh P.S

Pugalur

Jaipur

Kurukshetra

ChampaJabalpur

Orai

Gwalior

Banaskantha

Chittorgarh

Gorakhp

ur

Barh

Gaya

Vanarasi

3000 MW

+ 3000MW

6000MW

S

R

WR

NR

ER

NE R

Oct’1

5

Shujalpu

r`Angul

Srikakulam

DharamjaigarhRanc

hiJharsugu

da

Rapp

C&D

Bishwanath Charali

Agra

Legends:

400 kV D/C Line

765 kV D/C Line

765 kV S/C Line

800 kV HVDC Line

Rihand

Vidhyanchal

Transmission constraints expected to be resolved in the near term

Upcoming Transmission Infrastructure



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Developing a coal mine

(3 MTPA) in

Mozambique’s coal-rich

Moatize region

Coal resources

estimated at 1.2 bn

tonnes including coking

coal

Mozambique,

Africa

JSPL’s Kiepersol Colliery produces Anthracite

coal, sold domestically and internationally Plans

to ramp up capacity

South Africa, Africa Acquired 82.04% controlling

stake in Wollongong Coal

(Erstwhile Gujarat NRE coking

coal Limited)

Australia

1.5 MT HBI & 2 MT SMS Plant – plans to make it an Integrated

Steel Plant

Shadeed, Oman

Summary of International Operations

Copyright @ 2015 Jindal Steel & Power Limited 32


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Oman

Holding structure for global operations

Jindal Steel & Power Ltd

Listed Operating Entity in India

Australia

Coking Coal

South Africa

Anthracite Coal

Mozambique

Thermal/ Coking Coal

Jindal Steel & Power (Mauritius) Ltd

Holding company for overseas business

2 MTPA Steel plant



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Jindal Shadeed Iron & Steel, Oman

Marching towards becoming a Fully Integrated Steel Plant

1.5 HBI 2 MTPA SMS 1.4 MTPA Rolling Mill(Commercial Production 1QFY17)



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35

First & Largest Integrated steel plant of Oman

Third largest in Arabian Peninsula

Port based steel plant

Largest Arc furnace in Arabian Peninsula, with contracted natural gas

Worlds Best Performing Midrex plant (category 1.5MTPA)

Products : HBI, Blooms & Billets

Salient Features

Copyright @ 2015 Jindal Steel & Power Limited


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In July 2010, JSPL acquired Shadeed Iron & Steel Co. LLC

• Gas-based 1.5 MTPA HBI plant

commenced production in

January 2011

• Commissioned SMS of 2 MTPA

in April 2014

• 1.4 MTPA Rebar to be

commissioned in 4QFY16


Rolling Mill


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37

• Total Project Cost: Around USD 225 million

• Expected commercial production in 1Q FY 2017

g

1.4 MTPA Rebar Mill


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STEEL OUTLOOK

Q4

FY’16

INDUSTRY

DEVELOPMENTS

BRIEF

BACKGROUND

FINANCIAL

PERFORMANCE

38


OPERATIONAL

PERFORMANCE

Analyst Presentation


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Q4 FY 15-16 Performance highlights

39

JSPL achieves record domestic Sales of over 1.0 million MT in Q4registering 37% growth q-o-q

10% growth in Domestic Steel Production in Q4 y-o-y (0.97million MT in Q4 FY 15-16 vs 0.88 million MT in Q4 FY14-15)

Pellet Sales in Q4 Quadruples y-o-y

1.4 MTPA Rebar mill commissioned in Oman

1.2 MTPA plate mill in Raigarh upgraded


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Consolidated Steel Production

Total Steel Production up 23%*

Copyright @ 2015 Jindal Steel & Power Limited 40*Quarter on Quarter

0.00

0.200.40

0.60

0.80

1.00

1.20

1.40

1QFY16 2QFY16 3QFY16 4QFY16

0.85 0.85 0.780.97

0.18 0.29

0.35

J S P L D o m e st i c J i n d a l S h a d ee d

1.101.03

1.07

1.40


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Consolidated Steel Sales Volumes

Total Steel Sales volumes up 42%*

Copyright @ 2015 Jindal Steel & Power Limited 41*Quarter on Quarter

0.00

0.50

1.00

1.50

1QFY1 6 2QFY16 3QFY16 4QFY16

0.82 0.78 0.741

0.19 0.25

0.4

J S P L J i n da l S h a d ee d

0.971.070.99

1.40

Key Customers & Adding


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Key Customers & Adding…

42


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STEEL OUTLOOK

Q4

FY’16

INDUSTRY

DEVELOPMENTS

BRIEF

BACKGROUND

FINANCIAL

PERFORMANCE

43


OPERATIONAL

PERFORMANCE

Analyst Presentation


44/62

44- -

Standalone Q4 FY 16 –Snapshot of Key Financials


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45- -

Standalone FY 16 –Snapshot of Key Financials


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46- -

Consolidated Q4 FY 16 –Snapshot of Key Financials


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47- -

Consolidated FY 16 –Snapshot of Key Financials


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48- -

JPL – Snapshot of Key Financials


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Focus for FY17


Capacity Utilization Financial Prudence


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•Sweat the Assets – Achieve 100% Capacity utilization

• Continued cost reduction campaign

• Completion of Angul Phase 1B

• Divest / Monetize non – core / non – performing assets

• Reduce Debt

• Renewed thrust on exports

• Focus on “Value Added Products”

• High Value added product development at Angul plate mill

• Reduce Working capital

• Diversify into High Rise building segment and Low cost housing segment & offer

complete package of Steel and Construction material

Key Priorities & Focus Areas

50


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Snapshots from JSPL


Jindal Shadeed, Oman


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Jindal Shadeed Oman


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JSPL Raigarh (NEOF)


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JSPL Raigarh (NEOF)

JSPL Raigarh (NEOF)


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JS a ga (N O )

JSPL Raigarh


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59- -

J g(Upgraded Plate Mill)


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Jindal Structures being used at building in BKC, Mumbai

60


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For any information please contact: -

Mr. Nishant Baranwal – Investor Relations

Tel : +91 11-26739178

Mobile:+91 8800690255

Email: - [email protected]



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THANK YOU