Q2 2025 Jindal SAW Ltd Earnings Call Transcript
Key Points
- Jindal Saw Ltd (BOM:500378) reported a top line of INR4,790 crores for Q2 FY25, showing growth compared to the previous quarter and the same quarter last year.
- The company's EBITDA for the quarter increased to INR875 crores from INR842 crores in the previous quarter, indicating a positive trend despite higher steel prices.
- There has been a significant reduction in debt, with a large tranche of the term loan repaid after the September 30 results, improving the financial health of the company.
- The order book remains stable at $1.6 billion, with expectations of growth in the export market, particularly in the Middle East and North Africa regions.
- Jindal Saw Ltd (BOM:500378) is focusing on high-margin products and new market segments, including potential entry into the US market with seamless and stainless products, which could enhance profitability.
- The EBITDA percentage saw a marginal dip due to higher steel prices and a lower percentage of exports in the revenue mix.
- The export revenue percentage has decreased from 32% to 12%, impacting the overall revenue mix.
- There is a potential risk of geopolitical instability in the Middle East, which could disrupt transportation and affect the company's operations.
- The Jal Jeevan Mission is experiencing a plateau, which could impact the water segment's growth, although state-level projects are compensating for this.
- The company's focus on margin improvement over volume growth may limit top-line expansion in the short term.
Ladies and gentlemen, good day, and welcome to Jindal Saw Limited Q2 FY25 Earnings Conference Call hosted by PhillipCapital India Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Vikash Singh from PhillipCapital India Private Limited. Thank you, and over to you, sir.
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Thank you, Steve. Good morning, everyone, on Jindal Saw's 2Q FY25 Earnings Con Call. On the management side, today, we have with us Mr. Neeraj Kumar, Group CEO and Whole-Time Director; Mr. Vinay Gupta, President and Head Treasury; Mr. Narendra Mantri, President Head Commercial and CFO; and Mr. Rajeev Goyal, Vice Precedent, Group Corporate Finance and Treasury.
Without taking any much time, I hand over the call to Mr. Neeraj Kumar for his opening remark. Over to you, sir.
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