Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q1 FY2018 Earnings Presentation
20 slides from Greenply Industries's earnings presentation, 2017
Slide 1: Financial Results Presentation - Q1 FY 2018
GREENPLY INDUSTRIES LIMITED FINANCIAL RESULTS PRESENTATION - Q1 FY 2018
Slide 2: Disclaimer
DISCLAIMER Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s
Slide 3: Contents
CONTENTS • Financial Highlights • Results and Segment details • Segment-wise Performance • Ind AS Impact • Management Commentary • Company Overview • Outlook • Annexure
Slide 4: Financial Highlights – Q1 FY 2018
FINANCIAL HIGHLIGHTS – Q1 FY 2018 • Net Sales down by 6.0% YoY to Rs. 390.03 crores – Plywood revenues down by 13.6% YoY to Rs. 253.37 crores, contributing 65.0% of net sales – MDF revenues grew by 9.0% YoY to Rs 130.32 crores, contributing 33.4% to net sales – Unallocated products comprising Wallpa
Slide 5: Financial Highlights – Q1 FY 2018
FINANCIAL HIGHLIGHTS – Q1 FY 2018 Q1 FY 18 Q1 FY 17 Key ratios (%) Q1FY18 Q1FY17 -6.0% Gross Margin 47.9% 45.6% 390.03 NET SALES 414.91 EBITDA Margin 14.5% 15.5% -1.3% EBIT Margin 11.5% 12.6% Net Margin 7.9% 8.2% 186.92 GROSS PROFIT 189.36 Ad and promotions / Net Sales 3.7% 3.3% -11.7% Staff Cost/ N
Slide 6: Financial Highlights – B/S Perspective
FINANCIAL HIGHLIGHTS – B/S PERSPECTIVE Balance Sheet Snapshot June 30, 2017 June 30, 2016 March 31, 2017 (Rs. crore) Net worth 819.16 647.87 787.02 Total debt 448.91 222.92 377.52 Long Term Debt (Including Current Maturity) 381.81 144.12 307.85 Short Term Debt 67.10 78.80 69.67 Capital Employed
Slide 7: Financial Highlights – Ratios
FINANCIAL HIGHLIGHTS – RATIOS Key Ratios June 30, 2017 June 30, 2016 Mar 31, 2017 Inventory (days) 47 31 35 Debtor (days) 63 75 67 Creditor (days) 65 59 62 Working Capital Turnover (days) 45 47 40 RoE 15.0% 21.1% 17.2% RoCE – Pre-Tax 14.0% 23.9% 17.7% RoCE – Post-Tax 10.6% 18.3% 13.0% RoE (Excl New
Slide 8: Financial Results Q1 FY2018
FINANCIAL RESULTS Q1 FY2018 (Rs. in lacs) Sl. Quarter ended Year ended No. Particulars 30.06.2017 31.03.2017 30.06.2016 31.03.2017 (Unaudited) (Audited) (Unaudited) (Audited) 1 Income a) Revenue from Operations 41407.25 47671.16 44171.60 177080.69 b) Other income 806.31 309.30 228.33 1058.30 Total I
Slide 9: Segmental Performance – Q1 FY18
SEGMENTAL PERFORMANCE – Q1 FY18 (Rs. in lacs) Quarter ended Year ended Particulars 30.06.2017 31.03.2017 30.06.2016 31.03.2017 (Unaudited) (Audited) (Unaudited) (Audited) 1. Segment Revenue (Gross) a) Plywood & Allied Products 27720.65 33634.23 31998.28 128321.12 b) Medium Density Fibreboards 13052.
Slide 10: Segment Wise Performance
SEGMENT WISE PERFORMANCE Plywood Particulars Q1FY18 Q1FY17 Var (%) FY17 FY16 Var (%) Net sales (Rs. crore) 253.37 293.31 -13.6% 1167.99 1165.36 0.2% EBITDA margin (%) 10.1% 9.8% 11.2% 9.4% EBIT margin (%) 7.5% 7.5% 8.9% 7.3% Annual capacity (million sqm.) 32.4 32.4 32.4 32.4 Production (million sqm.
Slide 11: Joint Managing Director’s Message
Joint Managing Director’s Message Commenting on the performance for Q1 FY2018, Mr. Shobhan Mittal, Joint Managing Director and CEO, Greenply Industries Ltd. said, “The quarter before implementation of GST has been stable for MDF. Net Sales grew by 9% and Ebitda margins improved by 110 basis points (
Slide 12: Company Overview
COMPANY OVERVIEW CAPACITY UTILIZATION PRODUCTION MODEL • Plywood 101% utilization; further demand to be catered through new UP Plant and • Plywood – Expansion of 40% in premium outsourcing segment in Uttar Pradesh and moving • MDF 117% utilization; greenfield towards an asset light set-up by increas
Slide 13: Company Overview
COMPANY OVERVIEW BUSINESS SEGMENTS STRONG INDUSTRY POTENTIAL • Wood based products - Plywood • Plywood industry size – Rs. 180 billion and allied products, Medium MDF industry size – Rs. 16 billion Density Fibreboards (MDF) • Strong demand drivers – rising residential/ commercial construction, incre
Slide 14: Growth Outlook
GROWTH OUTLOOK INDUSTRY DRIVERS PRODUCT PROFILE • Rising demand from the real estate sector • To improve mix of plywood through increase in mix of • Increasing urbanisation, higher disposable incomes and value-added products like Green Defender, Green Gold a growing middle class Prima and Natural Ve
Slide 15: Annexure
ANNEXURE
Slide 16: Plywood and MDF Manufacturing Facilities / Production Model
MANUFACTURING FACILITIES / PRODUCTION MODEL Facilities Production Model Capacity Greenfield Expansion in Uttar Pradesh with 13.5 MN SQM Location capacity (mn sqm.) PLYWOOD Tizit, Nagaland 4.50 Expanding capacity in Decorative Veneers by 2 mn sqm. Kriparampur, West Bengal 6.00 To increase proportion
Slide 17: Strong Performance Track Record
STRONG PERFORMANCE TRACK RECORD NET SALES GROSS PROFIT 1,655 1,561 1,646 1,314 725 775 1,390 651 538 560 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 EBITDA PBT 257.6 250.5 191 200.6 173 180.1 183.3 139 110 104 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17
Slide 18: Segment-wise Performance
SEGMENT-WISE PERFORMANCE Particulars FY13 FY14 FY15 FY16 FY17 CAGR Net sales (Rs. crore) 940.17 1,037.30 1,152.07 1,165.36 1,167.99 5.6% EBITDA margin (%) 10.6% 10.3% 9.1% 9.4% 11.2% - Plywood EBIT margin (%) 8.9% 7.9% 6.8% 7.3% 8.9% - Annual capacity (million sqm.) 32.4 32.4 32.4 32.4 32.4 - Produc
Slide 19: Our Brands
OUR BRANDS = WH Nps a WOOD FLOORS GREEN DEFENDER 100% BURMA TEAK VENEERS
Slide 20: About Greenply Industries Limited
ABOUT GREENPLY INDUSTRIES LIMITED Greenply Industries Limited (GIL) enjoys leadership position in plywood and medium density fibreboards (MDF) accounting for almost 26 percent of the organized plywood and 30 percent of the MDF market in India. GIL has four state–of-the-art manufacturing facilities f
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