Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q3 FY24 Earnings Presentation
24 slides from Greenlam Industries's earnings presentation, Feb 2, 2024
Slide 1: Exchange filing cover letter for investor presentation
Greenlam/2023-24 February 02, 2024 The Manager The Manager BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Floor 25, P. J. Towers, Dalal Street Bandra (E) Mumbai - 400 001 Mumbai - 400 051 Fax No. 022-2272-3121/1278/1557/3354
Slide 2: Results Presentation Q3 & 9M FY24
Bettering Culture of Execution Excellence Results Presentation Q3 & 9M FY24 February 02, 2024 www.greenlamindustries.com
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Greenlam Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Our Journey
Our Journey Set up first laminate unit at Setting up of overseas ▪ Acquisition of Greenlam Decolan SA Setting up of subsidiary in UK Behror, and started commercial subsidiaries in Singapore and US ▪ Incorporation of Greenlam South Limited (GSL) production and exports of Laminates 1992-93 2002 2005-0
Slide 5: Next Orbit
Next Orbit Capex Announcement (Dec-21) Greenfield expansion of Plywood at Tindivanam, Tamilnadu under HGIL which started commercial production w.e.f. 9thJune 2023 Greenfield Laminate plant at Naidupeta, Andhra Pradesh which started commercial production w.e.f. 29 th September 2023 (Under Greenlam So
Slide 6: Next Orbit – Larger, Stronger and more Profitable
Next Orbit – Larger, Stronger and more Profitable Capacity Creation Strong Balance Sheet Leadership Position One stop solution Capacity creation ahead of the Growing the business through strong Leadership across existing From standalone surfacing products demand curve balance sheet and cash flows bu
Slide 7: Product Portfolio
Product Portfolio Laminate & Allied Products Veneer & Allied Products Plywood & Allied Products Commodity to Decorative Natural Veneer Plywood Laminates Mikasa Ply Premium products Veneer Teak Veneer Blockboard Engineered Veneer Compact Standard Compact Panels Engineered Wood Floor & Mikasa Floor Pa
Slide 8: Our Brands
Our Brands 7 www.greenlamindustries.com
Slide 9: Manufacturing Capabilities
Manufacturing Capabilities Products UOM Capacity Location Current Capacities Behror, Raj Nalagarh, HP High Pressure Laminate Mn Sheets / Boards 24.52 Prantij, GJ Naidupeta, AP^ Decorative Veneer Mn SQM 4.2 Behror, Raj Engineered Wood Floor Mn SQM 1.0 Behror, Raj Engineered Doors Units 120,000 Behror
Slide 10: Financial Performance for last 5 years
Financial Performance for last 5 years +12% 2,026.0 +10% 232.9 +14% 128.0 1,703.4 187.0 178.3 173.3 90.6 1,280.7 1,320.6 158.5 86.7 1,199.6 77.1 73.7 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Revenue (Rs. Crs) *EBITDA (Rs. Crs) PAT (Rs. Crs) 0.60 17.2 18.2 18.0 17.3
Slide 11: Domestic Footprints
Domestic Footprints Nalagarh, Himachal Pradesh DOMESTIC 5 State of the art Manufacturing Facilities Behror, Rajasthan 12 Company owned large Regional Distribution Prantij, Gujarat Centers/godowns 23,000+ Distributors, Dealers & Retailers Manufacturing Facilities Over 6,500 Employee base Corporate Of
Slide 12: International Footprints
International Footprints INTERNATIONAL Present in 100+ Countries 4 Company Operated Distribution Centers 15 International Offices 8 Overseas Subsidiaries 130+ Overseas Employees The Maps provided are for pictorial representation only Maps not to scale. All data, information, and maps are provided "a
Slide 13: Business Update - Q3FY24
Business Update - Q3FY24 ➢ During the quarter, we broadened our product range by introducing 16 new decors for Exterior Compact Panel range under NewMika FX 2023-2024 range in November 2023. The new collection has introduced 16 new decors bringing total exclusive designs under the brand at 41. ➢ We
Slide 14: Business Update - Financial Highlights Q3FY24
Business Update - Financial Highlights Q3FY24 ➢ The laminate production for the quarter was highest at 5.0 mn sheets. This amounts to capacity utilization of 82% on the enhanced consolidated capacity of 24.52 mn sheets, amounting to growth of 15.4% on YoY basis and 1.0% of QoQ basis. The above produ
Slide 15: Consolidated Financial Performance - Profit and Loss Statement
Consolidated Financial Performance Profit and Loss Statement INR Crores Q3 FY24 Q3 FY23 YoY% Q2 FY24 QoQ% 9MFY24 9MFY23 YoY% Revenue 563.4 503.5 11.9% 603.6 -6.7% 1,682.3 1,492.1 12.7% Raw Material 254.8 260.2 293.3 794.0 806.1 Gross Profit 308.6 243.3 26.8% 310.3 -0.6% 888.2 686.1 29.5% Gross Margi
Slide 16: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment INR Crores Q3 FY24 Q3 FY23 YoY% Q2 FY24 QoQ% 9M FY24 9M FY23 YoY% Net Revenue from Operations 499.8 459.1 8.8% 531.2 -5.9% 1,502.9 1,360.7 10.5% Gross Profit 277.7 224.4 23.8% 279.6 -0.7% 807.6 634.5 27.3% Gross Margin % 55.6% 48.9% 670 b
Slide 17: Laminates & Allied Segment – Quantitative Details
Consolidated Financial Performance Laminates & Allied Segment – Quantitative Details Particulars Q3 FY24 Q3 FY23 YoY% Q2 FY24 QoQ% 9M FY24 9M FY23 YoY% Annual Installed Capacity 24.52 19.02 24.52 24.52 19.02 (Mn Sheets) Production (Mn Sheets) 5.00 4.34 15.4% 4.96* 1.0% 14.64 12.85 14.0% Capacity Uti
Slide 18: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment INR Crores Q3 FY24 Q3 FY23 YoY% Q2 FY24 QoQ% 9M FY24 9M FY23 YoY% Net Revenue from Operations 47.7 44.4 7.4% 57.5 -17.2% 147.7 131.5 12.3% Gross Profit 22.8 19.0 20.3% 24.6 -7.3% 65.7 51.6 27.4% Gross Margin % 47.9% 42.8% 510 bps 42.8% 510
Slide 19: Decorative Veneers – Quantitative Details
Consolidated Financial Performance Decorative Veneers – Quantitative Details Particulars Q3 FY24 Q3 FY23 YoY% Q2 FY24 QoQ% 9M FY24 9M FY23 YoY% Annual Installed Capacity 4.20 4.20 4.20 4.20 4.20 (Mn Sqmt) Production (Mn Sqmt) 0.32 0.27 19.9% 0.41 -20.8% 0.99 0.93 6.8% Capacity Utilization (Annualize
Slide 20: Plywood & Allied Segment
Consolidated Financial Performance Plywood & Allied Segment INR Crores Q3 FY24 Q2 FY24 QoQ% 9M FY24 Quantitative Details Q3 FY24 Q2 FY24 QoQ% 9M FY24 Net Revenue from Annual Installed Capacity (Mn 16.0 14.9 6.9% 31.7 Operations 18.90 18.90 18.90 Sqmt) Gross Profit 8.0 6.1 31.5% 14.9 Production (Mn S
Slide 21: Operating Parameters - Net Working Capital
Consolidated Financial Performance Operating Parameters - Net Working Capital Particulars Q3 FY24 Q3 FY23 Q2 FY24 9M FY24 9M FY23 Amt Amt Amt Amt Amt Days Days Days Days Days INR Crores INR Crores INR Crores INR Crores INR Crores Inventory* 599.2 98 513.3 93 548.2 83 599.2 98 513.3 95 Debtors 139.2
Slide 22: Debt Position
Consolidated Financial Performance Debt Position INR Crores 9MFY24 9MFY23 H1FY24 Net Debt-Equity Ratio 0.82 Long Term Debt (Including current portion) 237.7 164,2 236.6 Long Term Debt (Naidupeta Project) 570.5 108.0 449.3 0.16 Short Term Debt 210.4 144.4 192.5 Total Debt 1,018.6 416.7 878.5 9MFY24 9
Slide 23: Return Ratios – ROCE & ROE
Consolidated Financial Performance Return Ratios – ROCE & ROE INR Crores Q3FY24 Q3FY23 Q2FY24 9M FY24 9M FY23 ^ROCE (Ex- Projects) EBIT 49.8 44.5 62.0 162.7 126.0 16.5% 15.4% 14.1% PAT 25.3 28.6 39.0 97.2 81.9 Capital Employed 2,071.8 1,355.2 1,915.3 2,071.8 1,355.2 Q3FY24 Q3FY23 9MFY24 Capital Empl
Slide 24: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Greenlam Industries Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L21016DL2013PLC386045 CIN: U74140MH2010PTC204285 Mr. Ashok Sharma - CFO Mr. Shogun Jain/ Ms. Manasi Bodas Email: ashok.sharma@greenlam.com Shogun.jain@sg