Investor Presentaiton
5 Prudent leverage management
Publicly stated financial policies
Focused leverage
management
Strong y-o-y profitability improvement => reduction in net leverage
Diversify
funding sources
Diverse sources of funding (d) (e)
6,124
6,288
5,716
7,577
148
259
199
910
6.43x
8,384
1,453
JSW Steel long
Foreign
currency
debt
INR debt
49%
term target: 3.75x (inline with
current financial policy)
51%
-3.41x
2.57x
2.72x
2.43x
FY16
FY17
FY18
FY19
Q1 FY20
Net debt(a)(b)/ EBITDA (c)
Total debt(a) (US$m)
Total cash (US$m)
JSW Steel long term
2.19x
1.85x
target: 1.75x (inline with
current financial policy)
1.38x
1.34x
1.35x
FY16
FY17
FY18
FY19
Q1 FY20
Net debt(a)(b)/Equity
Note: Translated at 1 USD = 68.9180 INR, FBIL as of 28th June 2019
Improve debt
maturity profile
Loans and
others
72%
Bonds and
debentures
28%
✓ Financial flexibility to raise capital
✓ Strong relationships with over 50 banks / financial institutions with access to low cost credit
✓ Healthy mix with 51% of debt being foreign currency
Maturity profile of long term borrowings (d) (US$)
1,739
<1 year
4,469
>1 year
(a)
Debt excludes acceptances
(b)
Net debt calculated as Non-current Borrowings + current borrowings + current maturities of long-term borrowings + current maturities
of finance lease obligations, if any + long term advance from customer - cash and cash equivalents - bank balances other than cash
and cash equivalents - current investments
(c)
EBITDA calculated as profit for the year/period + (-) share of profit / loss from joint ventures (net) +(-) tax expense/benefit + exceptional items + depreciation and amortization expense + finance costs - other income
(d)
JSW Steel
(e)
As of 30th June 2019
Excluding preference share capital and unamortized upfront fees
15View entire presentation