Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q4 FY2017 Earnings Presentation
25 slides from Greenply Industries's earnings presentation, May 2017
Slide 1: Greenply Industries Limited Financial Results Presentation Q4 & FY 2017
GREENPLY INDUSTRIES LIMITED FINANCIAL RESULTS PRESENTATION Q4 & FY 2017
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 – Q4 FY 2017
FINANCIAL HIGHLIGHTS – Q4 FY 2017 • Net Sales down by 0.3% YoY to Rs. 446.58 crores o Plywood revenues down by 3.9% YoY to Rs. 306.40 crores, contributing 68.6% of net sales o MDF revenues up by 8.4% YoY to Rs 137.69 crores, contributing 30.8% to net sales o Wallpaper sales at Rs 2.49 crores, contri
Slide 5: Financial Highlights – Q4 FY 2017
FINANCIAL HIGHLIGHTS – Q4 FY 2017 Q4 FY 17 Q4 FY 16 Key ratios (%) Q4 FY17 Q4 FY16 Gross Margin 47.9% 43.2% (0.3)% EBITDA Margin 16.8% 16.2% 446.6 NET SALES 448.1 EBIT Margin 14.1% 13.5% 10.5% Net Margin (*) 9.4% 9.3% Ad and promotions / Net Sales 5.1% 2.5% 214.0 GROSS PROFIT 193.6 Staff Cost/ Net S
Slide 6: Financial Highlights – FY 2017
FINANCIAL HIGHLIGHTS – FY 2017 FY 17 FY 16 Key ratios (%) FY17 FY16 Gross Margin 46.8% 44.1% 0.6% EBITDA Margin 15.6% 15.2% 1,654.9 NET SALES 1,645.7 EBIT Margin 12.6% 12.2% 6.9% Net Margin (*) 8.2% 8.0% Ad and promotions / Net Sales 3.8% 3.0% 775.1 GROSS PROFIT 725.2 Staff Cost/ Net Sales 10.3% 10.
Slide 7: Financial Highlights – B/S Perspective
FINANCIAL HIGHLIGHTS – B/S PERSPECTIVE Balance Sheet Snapshot Mar 31, 2017 Dec 31, 2016 Mar 31, 2016 (Rs. crores) Net worth 787.02 745.78 604.49 Total debt 377.52 297.40 258.51 Long Term Debt (Including Current 307.85 197.31 161.51 Maturity) Short Term Debt 69.67 100.09 97.00 Capital Employed 1,
Slide 8: Financial Highlights – Ratios
FINANCIAL HIGHLIGHTS – RATIOS Key Ratios Mar 31, 2017 Dec 31, 2016 March 31, 2016 Inventory (days) 35 36 31 Debtor (days) 67 74 74 Creditor (days) 62 57 55 Working Capital Turnover (days) 40 53 49 RoE 17.2% 16.7% 21.4% RoCE – Pre-Tax 17.7% 18.5% 23.1% RoCE – Post-Tax 13.0% 13.8% 18.4% RoE (Excl New
Slide 9: Financial Results Q4 & FY 2017
FINANCIAL RESULTS Q4 & FY 2017 SL. PARTICULARS STANDALONE (Rs. in lacs) CONSOLIDATED QE 31.03.2017 QE 31.12.2016 QE 31.03.2016 YE 31.03.2017 YE 31.03.2016 YE 31.03.2017 YE 31.03.2016 1 Income from Operations (a) Gross Sales/Income from Operations 47629.91 38449.76 46631.89 176882.53 171349.48 177344
Slide 10: Segmental Performance – Q4 & FY 2017
SEGMENTAL PERFORMANCE – Q4 & FY 2017 (Rs. in lacs) PARTICULARS STANDALONE CONSOLIDATED QE 31.03.2017 QE 31.12.2016 QE 31.03.2016 YE 31.03.2017 YE 31.03.2016 YE 31.03.2017 YE 31.03.2016 1. Segment Revenue (Gross) a) Plywood & Allied Products 33634.23 28669.17 33730.58 128321.12 123362.61 128545.04 12
Slide 11: Segment Wise Performance
SEGMENT WISE PERFORMANCE Particulars Q4FY17 Q4FY16 Var (%) FY17 FY16 Var (%) Net sales (Rs. crore) 306.40 318.78 (3.9)% 1167.99 1165.36 0.2% EBITDA margin (%) 12.1% 11.4% 11.2% 9.4% EBIT margin (%) 9.9% 10.1% 8.9% 7.3% Plywood Annual capacity (million sqm.) 32.4 32.4 32.4 32.4 Production (million sq
Slide 12: Profit Reconciliation as per Ind AS & I-GAAP
PROFIT RECONCILIATION AS PER IND AS & I-GAAP (Rs. in lacs) Reconciliation of Net Profit as per Ind AS & I-GAAP Q1 30.06.2015 Q2 30.09.2015 Q3 31.12.2015 Q4 31.03.2016 12M 31.03.2016 Net Profit after tax for the period as per I-GAAP 2670.32 2723.92 3534.44 4130.44 13059.12 Derecognition of Depreciati
Slide 13: Equity Reconciliation as per Ind AS & I-GAAP
EQUITY RECONCILIATION AS PER IND AS & I-GAAP (Rs. in lacs) Reconciliation of Shareholders Funds as per Ind AS & I-GAAP As at 31.03.2016 Share Capital as per I-GAAP 1206.82 Reserves & Surplus as per I-GAAP 59378.53 Shareholders Funds as per I-GAAP 60585.35 Gain/(Loss) on Fair Valuation of Quoted Inve
Slide 14: Sales Reconciliation as per Ind AS & I-GAAP
SALES RECONCILIATION AS PER IND AS & I-GAAP (Rs. in lacs) Reconciliation of Net Sales as per Ind AS & I-GAAP Q1 30.06.2015 Q2 30.09.2015 Q3 31.12.2015 Q4 31.03.2016 12M 31.03.2016 Net Sales for the period as per I-GAAP 38074.83 40077.48 42174.41 45282.68 165609.40 Reclassification of Advertisement &
Slide 15: Joint Managing Director's Message
Joint Managing Director’s Message Commenting on the performance for Q4 & FY2017, Mr. Shobhan Mittal, Joint Managing Director and CEO, Greenply Industries Ltd. said, “The industry has recovered from the lows of demonetisation witnessed in Q3. Demand has improved although we feel that we are still a f
Slide 16: Company Overview
COMPANY OVERVIEW • Plywood 108% utilization; further demand to be catered CAPACITY through proposed unit in Uttar Pradesh and outsourcing PRODUCTION • Plywood – 70% in-house, moving towards an asset UTILIZATION MODEL light set-up by increasing proportion of outsourcing • MDF 105% utilization; to und
Slide 17: Company Overview
COMPANY OVERVIEW Plywood industry size – Rs. 180 billion MDF industry size – Rs. 16 billion BUSINESS • Wood based products - Plywood and allied products, STRONG Medium Density Fibreboards (MDF) • Strong demand drivers – rising residential/ SEGMENTS INDUSTRY POTENTIAL commercial construction, increas
Slide 18: Growth Outlook
GROWTH OUTLOOK INDUSTRY DRIVERS PRODUCT PROFILE ADVERTISING & PROMOTIONAL SPENDS • Rising demand from the real estate • To improve mix of plywood through • Continued investments in increasing sector increase in mix of value-added products brand visibility pan-India like Green Defender, Green Gold Pr
Slide 19: Annexure
ANNEXURE
Slide 20: Plywood and MDF Manufacturing Facilities / Production Model
MANUFACTURING FACILITIES / PRODUCTION MODEL Facilities Production Model Capacity 70% in-house, 30% outsourced in volume terms Location (mn sqm.) To increase proportion of outsourcing to 30% (in value terms) PLYWOOD Tizit, Nagaland 4.50 from 22% currently over next 3 years Kriparampur, West Bengal 6.
Slide 21: Strong Performance Track Record
STRONG PERFORMANCE TRACK RECORD NET SALES GROSS PROFIT 1,646 1,655 1,561 1,314 1,390 725 775 651 538 560 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 EBITDA PBT 251 258 191 173 183 201 118 139 110 104 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17
Slide 22: 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 23: Principal Sponsor
PRINCIPAL Spam SPONSOR OF Yc@ii gialy | IS THERE PLYWOOD THAT WON'T CATCH FIRE Aska GREENPLY 1800-103-4050 www.askgreenply.com a
Slide 24: Our Brands
OUR BRANDS it Mh 100% BURMA TEAK VENEERS Lo oo yy en
Slide 25: 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
Greenply Industries — Q4 FY2017 Earnings Presentation on 6ix