heg limitedhegltd.com/.../2020/03/intimation_analyst17062019.pdf · scheduled to meet analysts . i...

PROUD TO BE INDIAN PRIVILEGED TO BE GLOBAL

HEGI SECTT12019 17th June 2019

1 BSE Limited 25u Floor P J Towers Dalal Street MUMBAI - 400 001 Scri p Code 509631

2 National Stock Exchange of India Limited Exchange Plaza 5th Floor Plot NoC1 G Block Bandra - Kurla Complex Bandra (E) MUMBAI - 400 051 Scrip Code REG

Reg Intimation of Schedule of Analyst I Institutional Investor Meeting and a Presentation to be made at the Investors meet under the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

Dear Sirs

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 we wish to inform you that Senior Management of the Company is scheduled to meet Analysts I Investors at New York as per the details given below-

A) On Tuesday 18u1 June 2019 organized by Keybculc B) On Thursday 20U June 2019 organized by Kotak Securities Ltd

The schedule is subject to changes due to any exigencies on behalf of the Investors or the Company

We would like to inform further that the presentation to be made in the aforesaid meetings is attached herewith for your reference

The same is also being uploaded on the Company website ie wwwhegltdcom

We request you to kindly take the same on record

Thanking you

HEG LIMITED Corporate Office Regd Office

Bhilwara Towers A-12 Sector-1 Mandideep (Near Bhopal) Dislt Raisen - 462046 Noida - 201 301 (NCR-Delhi) India (Madhya Pradesh) India

Tel +91-120-4390300 (EPABX) Tel +91-7480-405500 233524 10233527 fax +91-120-4277841 Fax +91-7480-233522

Website wwwLnjbhilwaracom Website wwwhegltdcom

Corporate Identification No L23109MP1972PLC008290

May 20190

Investors Presentation

HEG Ltd copy LNJ Bhilwara Group

HEG is part of LNJ Bhilwara group a diversified reputed and large Indian business house having more than five decades of industrial experience and presence in

Textiles Graphite ElectrodesPower Generation amp Power Consultancy IT Enabled Services

1


Listed Companiesbull HEG Limitedbull RSWM Limitedbull Maral Overseas

Limitedbull BSL Limitedbull BTTL Limited

Plants amp Office Locations

bull Group has 5 of its companies listed on Indian Stock Exchanges with over one million stakeholders

bull Corporate office amp Production units at 37 locations with over 25000 workforce

Nationwide Presence

2

LNJ Group - Key Financials 2018-19

Turnover USD 1750 mn

Net Fixed Assets USD 625 mn

Networth USD 1099 mn

EBITDA USD 778 mn


Worldrsquos Largest Single Site Graphite Electrode Plant

3


HEG Limited is a leading graphite electrode manufacturer amp exporter Globally

The company produces two grades of graphite electrodes - Ultra High Power (UHP) amp High Power (HP) -

used in producing steel through the Electric Arc Furnace (EAF) route

Exports approximately 70 of its production to about 30 countries around the world

Diversified customer portfolio ndashsupplying large proportion of our volumes to top 20 steel companies of the

world

Graphite electrodes manufacturing plant (capacity of 80000 tons per annum) located at Mandideep in

Madhya Pradesh - is the largest single-site facility in the world

Captive power generation capacity of around 765 mw (2 thermal power plants amp 1 hydro power plant)

HEG Limited ndash Profile

4

Highlights

1977 - Established in Financial (appx 25 equity) Technical participation of Pechiney France

1992 - Pechiney sold their Graphite business to SGL Germany amp Indian Promoters bought these shares in HEG

1995 2011 ndash Kept expanding from 10000 mt in small tranches amp in 2011 took a quantum leap from 60000 to 80000 mt

Single largest Graphite plant in the world under one roof

Consistently exporting appx 65-70 of production to more than 30 countries and to more than 100 customers around the world incl ArcelorMittal Nucor Posco Tata Sail Jindals Sabic Gerdau Ferroatlantica Celsa etc

Capacity Expansion to 100000 mt in next 24-30 months

5


GE- An indispensable material for Electric Arc Furnaces (EAF) for Steel production

EAF accounts for approx 45 of total World Steel Production (Without China)

High Entry Barrier ndash HEG the last new entrant in the world -1977

State of the art manufacturing facility ndash due to constant expansions amp investments

Capable of producing 100 UHP Electrodes

Facilities suitable for manufacturing up to 32rdquo electrodes

Graphite Electrode (GE) Industry ndash Our Unique Strengths

6

RampD set up to corroborate the Quality amp Improvement Drives with small scale production facilities

The focus is also on development of new product lines

Development is focused towards Carbon

RampD Center

7

Graphite Electrode (GE) Industry

8


Industry Overview ndash Indiarsquos Rising Share(wo China amp Russia)

33 32 32

3

30 32

26

14

23

54

23

0

20

40

60

Graftech Japan SGL India

0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020

Graphite Electrode(In 000 tonne)

Captive Power (MW)(In 000 tonne)

10

Capacity Build up


GE Capacity Evolution (wo China amp Russia)

S No Company Name 2010 2014 2017 No of plants1 SDK 105 105 225 5

2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2

Sub-Total Japan 265 265 380 11

4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4

Sub-Total India 120 178 178 5

Grand Total 860 808 725 19

HEGrsquos 80000 tons plant is the largest single site integrated GE plant in the world

11


8 GE plants got closed between 2010 and 2016

20 of world capacity due to demand supply imbalance

Currently 19 plants in 15 countries comprising 725000 tons capacity are working at 85-90 capacity utilization amp are unable to cope with the

additional demand due to rise in EAF steel production

causing shooting up of GE prices

Almost 300000 tons of inefficientpolluting GE

capacity in China has been shut down thereby causing

shortage of GE within China amp reduction of Chinese exports further contributing to price

rise of GE

GE Industry Development

12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11

134China EAF EAF World wo China of EAF China

The estimates between 2018 amp 2022 are taken at growth rate of 3 per annum for rest of the world Additional EAF capacity of 110 mmt between 2016 and 2020 would mean an additional demand of appx 275000 mt of GE in China Which may further go upto 310000 mt by 2022

There could be a window of opportunity for companies like us to export our non UHP electrodes to china in this period as new electrode capacities in china would take longer time to come up than steel capacity

14

EAF World Production ndashWithout China amp China


0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA

bull EAF steel production grew at the CAGR of 35 from 1984-2011

bull Due to financial meltdown in 2009 and sudden surge of large BOF capacity built in China between 2010-15 EAFsteel production dropped at the CAGR of 2 amp now started to grow at the rate of about 8-10 from 2016 onwards

15

Global EAF steel production


More than 3 times growth of EAF steel making in four years in china

68

39 4146

6

world excluding china

ChinaNorth America Asia (ex-china)European Union

11

The Chinese government targets 20 EAF market share by 2020

2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion

2017 of World Steel Production

2016

2018

Global Shift to EAF Steel Production

16


Continuous Decline of Chinese Steel Exports

al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70

Annualized based on 4 months actuals

17


Blue Sky Policy

Chinese Government is taking air pollution control measures seriously

This year the application of the restriction will be more rigid amp strict amp have been

advanced from 1 Oct to 31 Mar compared to 15 Oct to 15 Mar last year

Export of Steel is likely to keep falling in near future

China likely to add around 200 million tons scrap per annum for the next few years

In order to discourage export of scrap they have imposed a 40 export duty

Central Government has given limits on Environment and if limits are breached

Governors will be removed

50 of Chinese steel is produced within 700-800 kms radius of Beijing

18


China PollutionCrack Down

China is in the fifth year of a ldquowar on pollutionrdquo

2017 environment control was not very serious ndash being first year allowed 60-65

capacity utilization against 50 orders but this year it will be much more stringent amp

the impact may be higher

Last year Environmental Policy affected 28 cities within China this year more than

80 cities may be affected

EAF carbon emissions is 86 less than BOF gas amp 72 less than BOF solid gas

Chinarsquos Hebei Province Gets Tough on Steel Mills to Meet Low Emissions Targets

until 31 Octrsquo18 in case of failure to meet the targets companies will be ordered to

shut down

Two Chinese Cities of Hebei Province Set to Observe 50 Production Cuts during

Winter Heating Season 19


bull Capacity reduction ahead of expectations net capacity reduction achieved 115 mmt vs 150 mmt target The balance is expected to close down in this year

bull Additional ~155 mmt illegal induction furnace capacity closed

bull Many of these is being replaced by new electric arc furnaces

bull 105 new EAFs with capacity of 66 mmt have been installed or commenced construction in China in 2017

bull Steel replacement policy in favour of EAF v BF New measure requires capacity replacement in Beijing and 6 other provinces to keep the ratio at 1251 level or more For other regions the ratio become higher than 11 effectively reducing steel capacity

bull As per CISA China steel capacity to be brought below 1 bn mtby 2025

IFs capacity closure in Major Regions

Source ndash WSA

20

Chinarsquos Steel Capacity outlook 2018

Conclusion on EAF Steel

EAF Steel production is expected to grow at a faster pace compared to BOF

because of following reasons

Replacement of Induction furnaces amp polluting blast furnaces in China by EAFs

EAF Share in China to grow from 6 in 2016 to 20 in 2020

Chinese scrap availability to increase at the CAGR of 4 for the next 20-25

years

Continuous increase in share of EAF in rest of the world due to pollution

concerns on BOF and less capital intensive nature of EAFs

As Chinarsquos steel exports keep dropping the Rest of the World Steel production

keeps increasing where EAF accounts for 45 of Steel Production

21

Needle Coke Scenario

Needle coke is the main raw material for GE production amp is very critical for

the growth of GE industry

Due to excess capacity of needle coke in the recent past some of the needle

coke producers have been trying to find a new application for coke in the

Lithium Ion batteries

In the last couple of years needle coke has been successfully used in this

application and a reasonably large part of needle coke is now being used in

China in Lithium Ion batteries

With the sudden increase in demand of GE needle coke availability has

become a bottleneck

All Global GE manufacturers are not able to operate beyond 85-90 capacity

utilization

One of the largest producers of needle coke has debottlenecked its capacity

enabling them to increase its production by around 50-60000 mt

22


EBITDA includes Other Income

in Rs Crore (except EPS)

Financial Snapshot

23

FY19 FY18 FY17

REVENUE FROM OPERATIONS 6593 2758 896

EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)

EBITDA Margin () 72 63 10

EBIT Margin () 71 60 2

PAT Margin () 46 39 -6


Thank You

May 20190

Investors Presentation




1







Nationwide Presence

2





EBITDA USD 778 mn



3







world





4

Highlights







5









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You




1







Nationwide Presence

2





EBITDA USD 778 mn



3







world





4

Highlights







5









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You







Nationwide Presence

2





EBITDA USD 778 mn



3







world





4

Highlights







5









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You



3







world





4

Highlights







5









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You







world





4

Highlights







5









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You

Highlights







5









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You









6




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You




RampD Center

7


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You


8



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You



33 32 32

3

30 32

26

14

23

54

23

0

20

40

60


0

1990 2010 2017

9


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You


14

30

52

66

80

100

0

20

40

60

80

100

120

2021-22 1990 2002 2006 2011 2009

14

44

77 77 77

0

20

40

60

80

100

120

2002 2006 2009 2011 2020



10

Capacity Build up




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You




2 Tokai 100 100 95 4

3 NCK SEC 60 60 60 2


4 Graftech 245 185 167 3

5 SGL 230 180 0 0

Sub-Total 740 630 547 14

6 HEG 60 80 80 1

7 GIL 60 98 98 4


Grand Total 860 808 725 19


11










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You










rise of GE


12

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You

EAF Steel

13


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You


Source WSA

Figures in mmt 66 71 65 57 54 47 5275

100

160175

353373 366 301 356

383 383 372 380360 366

398415

432449

20132006 2012 2018(P)20112007 2008 2009 2010 2014 2022

62015

6

21

2016

9

2017

1220

2020

+11




14



0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You


0

100

200

300

400

500

1987

1985

1990

1991

1988

1989

1992

2003

1993

1994

2012

1995

1996

1997

2002

1998

2013

1999

2000

2001

2004

2006

2015

2007

2018

2009

2008

2011

2014

2016

2010

1986

2005

1984

2017

35

-2

8-10

Source WSA



15




68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You



68

39 4146

6



11


2017

EA

F a

s a

o

f T

ota

l Ste

el P

rod

uct

ion


2016

2018


16



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You



al

CY‐14 CY‐15 CY‐19CY‐18CY‐16 CY‐17

93

75

108

112

69 70


17


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You


Blue Sky Policy










18












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You












shut down











Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You









Source ndash WSA

20








years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You







years





21











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You











become a bottleneck


utilization



22




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You




Financial Snapshot

23

FY19 FY18 FY17


EBITDA 4767 1734 88

EBIT 4695 1661 14

PAT 3050 1081 -50

EPS 76360 27061 (1252)





Thank You


Thank You

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