Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — H1 FY2018 Earnings Presentation
21 slides from Greenply Industries's earnings presentation, 2017
Slide 1: Greenply Industries Limited Financial Results Presentation Q2 & H1 FY 2018
GREENPLY INDUSTRIES LIMITED FINANCIAL RESULTS PRESENTATION Q2 & H1 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 • Management Commentary • Company Overview • Outlook • Annexure
Slide 4: Financial Highlights – Q2 FY 2018
FINANCIAL HIGHLIGHTS – Q2 FY 2018 • Net Sales up by 2.1% YoY to Rs. 443.63 crores – Plywood revenues up by 1.5% YoY to Rs. 312.69 crores, contributing 70.5% of net sales – MDF revenues down by 1.6% YoY to Rs 121.66 crores, contributing 27.4% to net sales – Unallocated Segment comprising of Wallpaper
Slide 5: Financial Highlights – Q2 FY 2018
FINANCIAL HIGHLIGHTS – Q2 FY 2018 Q2 FY 18 Q2 FY 17 Key ratios (%) Q2 FY18 Q2 FY17 2.1% Gross Margin 46.7% 46.0% 443.6 NET SALES 434.6 EBITDA Margin 14.6% 15.5% 3.6% EBIT Margin 12.0% 12.7% Net Margin (*) 8.2% 8.1% 207.3 GROSS PROFIT 200.1 Ad and promotions / Net Sales 4.0% 3.5% -3.7% Staff Cost/ Ne
Slide 6: Financial Highlights – H1 FY 2017
FINANCIAL HIGHLIGHTS – H1 FY 2017 H1 FY 18 H1 FY 17 Key ratios (%) H1 FY18 H1 FY17 -1.9% Gross Margin 47.3% 45.8% 833.7 NET SALES 849.5 EBITDA Margin 14.6% 15.5% 1.2% EBIT Margin 11.8% 12.6% 394.3 GROSS PROFIT 389.5 Net Margin (*) 8.0% 8.1% Ad and promotions / Net Sales 3.9% 3.4% -7.6% Staff Cost/ N
Slide 7: Financial Highlights – B/S Perspective
FINANCIAL HIGHLIGHTS – B/S PERSPECTIVE Balance Sheet Snapshot Sept 30, 2017 Sept 30, 2016 March 31, 2017 (Rs. crore) Net worth 847.88 722.82 787.02 Total debt 554.25 294.33 426.25 Long Term Debt (Including Current Maturity) 422.15 132.40 307.85 Short Term Debt 132.10 161.94 118.40 Capital Employ
Slide 8: Financial Highlights – B/S Perspective
FINANCIAL HIGHLIGHTS – B/S PERSPECTIVE Key Ratios Sept 30, 2017 Sept 30, 2016 March 31, 2017 Inventory (days) 37 34 35 Debtor (days) 77 76 66 Creditor (days) 52 48 50 Working Capital Turnover (days) 62 62 51 RoE 15.8% 19.1% 17.2% RoCE – Pre-Tax 14.0% 22.0% 17.7% RoCE – Post-Tax 10.4% 16.8% 13.0% RoE
Slide 9: Financial Results H1 & Q2 FY2018
FINANCIAL RESULTS H1 & Q2 FY2018 (Rs. in lakhs) Statement of Unaudited Standalone Financial Results for the quarter and six months ended 30 September 2017 Corresponding Three Year to date figures Year to date figures Previous Three Three months ended months ended for the current for the previous Pre
Slide 10: Segmental Performance – H1 & Q2 FY2018
SEGMENTAL PERFORMANCE – H1 & Q2 FY2018 (Rs. in lakhs) Segment wise Revenue, Results, Assets and Liabilities Corresponding Three Year to date figures Year to date figures Previous Three Three months ended months ended for the current for the previous Previous year ended months ended Sr. No. Particula
Slide 11: Segment Wise Performance
SEGMENT WISE PERFORMANCE Plywood Particulars Q2FY17 Q2FY17 Var (%) H1 FY 18 H1 FY 17 Var (%) Net sales (Rs. crore) 312.69 308.03 1.4% 566.06 601.34 -5.9% EBITDA margin (%) 11.0% 10.4% 10.6% 10.1% EBIT margin (%) 9.0% 8.2% 8.3% 7.9% Annual capacity (million sqm.) 32.4 32.4 32.4 32.4 Production (milli
Slide 12: Joint Managing Director's Message
Joint Managing Director’s Message Commenting on the performance for Q2 FY2018, Mr. Shobhan Mittal, Joint Managing Director and CEO, Greenply Industries Ltd. said, “This has been another quarter of consolidation. Net Sales grew by 2.1% and Ebitda margins improved by 50 basis points (before forex loss
Slide 13: Company Overview
COMPANY OVERVIEW CAPACITY UTILIZATION PRODUCTION MODEL • Plywood 110% utilization; further demand to be catered through new • Plywood – Expansion of 40% in premium UP Plant and outsourcing segment in Uttar Pradesh and moving towards an asset light set-up by increasing • MDF 93% utilization; greenfie
Slide 14: 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/ • Demerged the Decorative comm
Slide 15: Growth Outlook
GROWTH OUTLOOK INDUSTRY DRIVERS PRODUCT PROFILE • Rising demand from the real estate sector • To improve mix of plywood through increase • Increasing urbanisation, higher disposable in mix of value-added products like Green incomes and a growing middle class Defender, Green Gold Prima and Natural •
Slide 16: Annexure
ANNEXURE
Slide 17: 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 18: 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 19: 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 20: Our Brands
OUR BRANDS rn GREEN Nye ut WOOD FLOORS GREEN DEFENDER GREEN ™ GREEN Naturals 100% BURA TEAK VENEERS
Slide 21: 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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