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×

esl steel Limited

39.00
+ 11.43 %
Scrip Name
ESL Steel
ISIN No.
INE481K01021
PAN No.
AABCE6875H
Face Value
10
No. of Outstanding Shares
1,849,030,224
Market Capitalization
7,211.22 Crore

ELECTROSTEEL STEELS LIMITED UNLISTED SHARE

ELECTROSTEEL STEELS LIMITED (Now ESL STEEL Limited) is engaged in the business of Iron and Steel. The company supplies TMT Bars, Billets, Wire Roads, and Ductile Iron Pipe. The company also involves in business of Pig Iron and Steel & Iron Scrap product. It also produces Sinter, Metallurgical Coke, and Power for captive consumption.

The products of the company are supplied to automobile, construction, industrial machinery & equipment, and water infrastructure development. The company ‘s plant has a capacity of producing 1.5 million tonnes of iron and steel products and is located in Siyaljori Block, Bokaro District, Jharkhand. The company planning its expansion and has plans to double its existing capacity.

The equity shares of the company were listed on National Stock Exchange and Bombay Stock Exchange till December 2018.

ELECTROSTEEL STEELS LIMITED has been acquired by the Vedanta Star Limited (a subsidiary of Vedanta Limited) with effect from October, 2018. Vedanta Star Limited acquired the Electrosteel Steels Limited under the Insolvency and Bankruptcy Code 2016, in line with resolution from NCLT, Kolkata. Vedanta Star Limited acquired 90% shares of the company for a consideration amount of Rs. 5,320 Crore.

In just 10 months after acquisition, Electrosteel steels limited has seen improvement in its financial position with improvements in its operational efficiencies. These achievements were backed by strong emphasis on safety practices, and positioned the company to become a big player in India Steel Sector.

INCORPORATION DETAILS

CIN

U27310JH2006PLC012663

Category/Sub-category of the Company

Company Limited by Shares

Address of the Registered office and contact details

801, Uma Shanti Apartments,

Kanke Road, Ranchi - 834 008

Jharkhand

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

Karvy Fintech Private Limited,

Selenium, Tower B, Plot No- 31 & 32,

Financial District, Nanakramguda, Serilingampally

Hyderabad, Telangana 500032

 BOARD OF DIRECTORS

Mr. Prasun Kumar Mukherjee (Independent Director)

Mr. Mahendra Singh Mehta (Independent Director)

Ms. Poovannan Sumathi (Director)

Mr. Navnath Laxman Vhatte (Whole Time Director)

PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

ELECTROSTEEL STEELS LIMITED does not have any subsidiary or associate company.

SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Vedanta Limited (Promoter)

1,76,55,53,040

95.49%

2

Public Shareholding

8,34,77,184

4.51%

 

Total

1,84,90,30,224

100.00%

INDUSTRY OUTLOOK

In 2019, India ranked second as the world’s largest steel producer with production of 111.2 million tonnes. The sustainable growth of steel sector can be attributed to the domestic availability of raw materials including iron ore and cost effective labour. Steel sector is one of the major contributors to the Indian economy.  Steel Industry of India has been divided into three categories, Major producers, main producers, and secondary producers.

Production of crude steel and finished steel in India increased to 108.5 Million Tonnes and 101.03 Million Tonnes in FY 2020 respectively. Consumption of finished steel in India grew at a CAGR of 5.2% from FY 2016 to FY 2020. In FY 2020, India exported 8.24 million tonnes of finished steel and imported 6.69 Million tonnes of it. From April 2020 to February 2021, export of finished steel stood at 9.49 Million tonnes and import stood at 4.25 Million tonnes.

India is also a leading producer of Sponge Iron with a host of coal-based units, located in the mineral-rich States of the country. Over the years, the coal-based route has emerged as a key contributor and accounted for 82% of total sponge iron production in the country in 2020. Capacity in sponge iron making has also increased over the years and stood at 48.01 million tonne in 2020. India has been the world’s largest sponge iron producer every year since 2003.

India is also an important producer of Pig Iron. With the setting up of several units in the private sector during the period of post-liberalization, the imports have drastically been reduced and India has turned out to be a net exporter of Pig Iron. The private sector accounted for 87% of the total production of Pig Iron in the country in 2020.

 PROFIT & LOSS STATEMENT OF ELECTROSTEEL STEELS LIMITED                    (In Rs. Crores)

PARTICULARS

2021

2020

2019

2018

Revenue from Operations

4,771.43

4,377.51

4,951.55

3,532.83

EBITDA

849.68

437.2

827.53

435.19

EBITDA margin

17.81%

9.99%

16.71%

12.32%

Finance Cost

376.53

384.14

322.46

789.96

Depreciation

346.43

306.52

304.63

534.15

Other Income

127.81

103.64

55.43

88.43

Exceptional items

276.34

0

930.94

-5,238.36

Profit Before Tax

-21.81

-21.81

1,186.80

-6,138.85

Total Tax

-2,753.83

0

0

0

Profit After Tax (PAT)

2,732.01

-21.81

1,186.80

-6,138.85

EPS

14.78

-0.11

5.37

-25.48

 BALANCE SHEET OF ELECTROSTEEL STEELS LIMITED (In Rs. Crores)

PARTICULARS

31st March 2021

31st March 2020

31st March 2019

ASSETS

     

NON CURRENT ASSETS

     

Tangible assets

5,597.71

5,891.81

6,052.52

Intangible assets

4.26

1.39

0.7

Financial assets

0.54

0.52

0.7

Other financial assets

10.58

5.06

1.46

Tax assets

2,765.15

22.06

15.71

Other non-current assets

2.33

0.28

55.66

TOTAL NON-CURRENT ASSETS

8,380.57

5,921.12

6,126.75

CURRENT ASSETS

     

Inventories

635.52

870.75

842.57

Financial assets

1,664.16

1,226.62

858.85

Trade receivables

102.90

171.73

233.13

Cash and Cash equivalents

393.38

170.78

356.91

other current assets

154.01

38.7

41.65

TOTAL CURRENT ASSETS

2,949.97

2,478.57

2,333.10

TOTAL ASSETS

11,330.55

8,399.69

8,459.85

EQUITY AND LIABILITIES

     

EQUITY

     

Equity share capital

1,849.03

1,849.03

1,961.66

Other Equity

4,375.30

1,643.80

1,660.94

TOTAL EQUITY

6,224.33

3,492.83

3,622.60

LIABILITIES

     

NON CURRENT LIABILITIES

     

Borrowings

2,862.48

3,315.82

3,571.93

Provisions

218.69

6.72

8.2

Lease liabilities

4.78

4.52

0

TOTAL NON-CURRENT LIABILITIES

3,085.95

3,327.05

3,580.13

CURRENT LIABILITIES

     

Financial liabilities

780.08

563.51

299.97

Trade payables

920.37

887.37

857.99

Provisions

7.16

3.88

1.96

Other current liabilities

312.65

125.04

97.21

TOTAL CURRENT LIABILITIES

2,020.26

1,579.80

1,257.12

TOTAL LIABILITIES

5,106.21

4,906.86

4,837.25

TOTAL EQUITY AND LIABILITIES

11,330.55

8,399.69

8,459.85

 DIVIDEND HISTORY

PARTICULARS

2021

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Crores)

-5,268.21

-7,999.71

-7,977.38

-9,156.79

 PERFORMANCE OF THE COMPANY

Revenue from Operations of the company increased by 9% from Rs. 4,377.51 Crore in FY 2020 to Rs. 4,77143 Crore in FY 2021.

EBITDA of the company increased significantly by 94.35% from Rs. 437.2 Crore in FY 2020 to Rs. 849.68 Crore in FY 2021. EBITDA margins of the company increased from 9.99% in FY 2020 to 17.81% in FY 2020.

The company incurred a loss of Rs. 21.81 Crore in FY 2020. However, the company turned profitable in FY 2021 and earned a profit of Rs. 2,732.01 Crore.

The current ratio of the company as of 31st March 2021 was 1.46.

The debt to Equity ratio of the company as of 31st March 2021 was 0.45.

The book value of the company as of 31st March 2021 was Rs. 33.66.

 The company has not given any dividends in the past three years.

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