Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q4 FY2023 Earnings Presentation
33 slides from Greenply Industries's earnings presentation, May 30, 2023
Slide 1: Cover letter to stock exchanges
~ Greenply/2023-24 May 30, 2023 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 Scrip Code: 526797 Symbol - GREENPLY De
Slide 2: Analyst Presentation Q4 & FY 2023
1111111111111111111111111111111 111111 ANALYST PRESENTATION Q4 & FY 2023 30th May 2023 1
Slide 3: 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 4: Content
Content ❖ Key Highlights ❖ Financial & Operating Performance ❖ Corporate Overview ❖ Strategic Initiatives 3
Slide 5: Key results highlights- Plywood Business
Key results highlights- Plywood Business^ (Standalone + Sandila) % Change % Change Rs/Crores Q4 FY23 FY23 Y-o-Y Y-o-Y Revenue 427 3.1% 1,663 20.8% Adj. Core EBITDA* 49 14.4% 173 21.5% Adj. Core EBITDA % 11.5% 113 BPS 10.4% 6 BPS PAT** 18 -38.5% 113 27.6% *Excluding non-cash ESOP cost of Rs 3.4 crore
Slide 6: Key result highlights- Consolidated
Key result highlights- Consolidated % Change % Change Rs/Crores Q4 FY23 FY23 Y-o-Y Y-o-Y Revenue 469 4.6% 1846 18.1% Adj. Core EBITDA* 51 7.2% 184 13.6% Adj. Core EBITDA % 10.9% 27 BPS 10.0% -40 BPS PAT** 11 -61.8% 91 -3.5% *Excluding non-cash ESOP cost Rs 3.4 crores in Q4 FY23 and Rs 15.3 crores in
Slide 7: Financial & Operating Performance
FINANCIAL & OPERATING PERFORMANCE 6
Slide 8: Consolidated P&L-Q4 FY23
Consolidated P&L-Q4 FY23 Revenue-Rs. Crores Gross Profit- Rs. Crores, Margin % 0.8% 7.9% 4.6% 9.6% 600 200 50.0% 500 150 40.0% 400 40.0% 39.1% 38.5% 30.0% 300 100 469 179 167 181 20.0% 200 449 428 50 10.0% 100 0 0 0.0% Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 Adj. Core EBITDA*- Rs. Crores, Ma
Slide 9: Consolidated P&L- FY23
Consolidated P&L- FY23 Revenue-Rs. Crores Gross Profit- Rs. Crores, Margin % 18.1% 14.6% 800 50.0% 40.2% 39.0% 40.0% 2,000 600 1,500 30.0% 400 719 1,000 1,846 627 20.0% 1,563 200 500 10.0% - 0 0.0% FY22 FY23 FY22 FY23 Adj. Core EBITDA*- Rs. Crores, Margin % PAT**- Rs. Crores, Margin % 13.6% -3.5% 20
Slide 10: Consolidated Ratios
Consolidated Ratios Working Capital- Rs. Crores, days* Inventories- Rs. Crores, days* Receivables- Rs. Crores, days* 300 60 300 100 250 100 51 52 250 46 50 250 80 200 80 200 40 200 53 55 60 150 60 150 30 150 55 44 213 229 45 254 264 275 278 43 100 20 226 40 100 186 40 196 100 50 10 50 20 50 20 0 0 0
Slide 11: Consolidated Financial Metrics
Consolidated Financial Metrics Major expenses as % of sales Major expenses as % of sales 16.0% 14.0% 13.2% 14.1% 12.4% 14.0% 13.4% 12.0% 12.0% 11.2% 10.0% 10.0% 8.0% 8.0% 6.0% 5.2% 4.6% 4.9% 4.7% 6.0% 4.7% 4.7% 3.8% 3.3% 2.8% 4.0% 4.0% 1.4% 2.0% 2.0% 0.0% 0.0% Ad & Promotion Logistics Cost Staff Cos
Slide 12: Plywood Business P&L-Q4 FY23
Plywood Business^ (Standalone + Sandila) P&L-Q4 FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 3.1% 3.4% 5.4% 2.8% 500 200 50.0% 400 37.9% 39.0% 38.0% 40.0% 150 300 30.0% 200 414 405 427 100 157 158 162 20.0% 100 50 10.0% - - 0.0% Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 Adj. Cor
Slide 13: Plywood Business P&L- FY23
Plywood Business^ (Standalone + Sandila) P&L- FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 20.8% 17.8% 2,000 700 50.0% 1,500 600 38.7% 37.8% 40.0% 500 1,000 400 30.0% 1,663 300 628 1,377 533 20.0% 500 200 100 10.0% - - 0.0% FY22 FY23 FY22 FY23 Adj. Core EBITDA*- Rs. Crores, Margin % P
Slide 14: Plywood Business Ratios
Plywood Business^ (Standalone + Sandila) Ratios Working Capital- Rs. Crores, days* Inventories- Rs. Crores, days* Receivables- Rs. Crores, days* 200 37 40 250 46 50 250 50 36 45 42 43 35 43 44 200 40 200 40 150 29 30 25 150 30 150 30 100 20 169 162 15 100 202 194 20 100 195 199 20 172 159 50 110 10
Slide 15: Plywood Business Operating Metrics Q4 FY23
Plywood Business^ (Standalone + Sandila) Operating Metrics Q4 FY23 Sales breakup- Volume-wise Sales breakup- Value-wise 120% 120% 100% 100% 80% 29% 29% 29% 80% 38% 37% 36% 60% 10% 8% 9% 60% 12% 9% 10% 40% 40% 54% 54% 60% 63% 62% 20% 49% 20% 0% 0% Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 Manuf
Slide 16: Plywood Business Operating Metrics FY23
Plywood Business^ (Standalone + Sandila) Operating Metrics FY23 Sales breakup- Volume-wise Sales breakup- Value-wise 100% 100% 35% 80% 27% 31% 80% 39% 9% 8% 60% 11% 9% 60% 40% 40% 54% 64% 61% 20% 51% 20% 0% 0% FY22 FY23 FY22 FY23 Manufacturing (Own) Manufacturing Partners Trading Manufacturing (Own)
Slide 17: GMEL P&L-Q4 FY23
GMEL P&L-Q4 FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 22.4% -20.5% 60 90.8% 83.8% 50 25 70.0% 40 64.7% 60.0% 20 50.0% 30 15 40.0% 42 22 42.0% 30.0% 20 34 10 40.5% 18 23 20.0% 10 5 9 10.0% 0 0 0.0% Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 Operating Metrics EBITDA- Rs. Crores,
Slide 18: GMEL P&L- FY23
GMEL P&L- FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % -4.4% -1.8% 100 60.0% 200 49.3% 50.0% 80 150 50.7% 40.0% 60 94 90 30.0% 100 186 182 40 20.0% 50 20 10.0% 0 0 0.0% FY22 FY23 FY22 FY23 Operating Metrics EBITDA- Rs. Crores, Margin % 50,000 45,955 45,829 -25.1% 41,757 40,512 40,000
Slide 19: Consolidated Profit & Loss Statement Q4 & FY23
Consolidated Profit & Loss Statement Q4 & FY23 (₹ in Lakhs) Statement of Consolidated Financial Results for the Three Months and Year ended 31 March 2023 Corresponding Three Previous Three Three months months ended Year ended Year ended months ended Sr. ended 31.03.2023 31.03.2022 in the 31.03.2023
Slide 20: Consolidated Balance Sheet as on 31st March 2023
Consolidated Balance Sheet as on 31st March,2023 (₹ in Lakhs) Statement of Assets and Liabilities Consolidated Sr. No. Particulars 31.03.2023 31.03.2022 (Audited) (Audited) A. ASSETS 1. Non-current assets (a) Property, plant and equipment 40,138.00 30,855.64 (b) Capital work-in-progress 51,295.81 10
Slide 21: Standalone Profit & Loss Statement Q4 & FY23
Standalone Profit & Loss Statement Q4 & FY23 (₹ in Lakhs) Statement of Standalone Financial Results for the Three Months and Year ended 31 March 2023 Corresponding Three months Previous Three Three months Year ended Year ended ended months ended Sr. ended 31.03.2022 31.03.2023 31.03.2022 Particulars
Slide 22: Standalone Balance Sheet as on 31st March 2023
Standalone Balance Sheet as on 31st March,2023 (₹ in Lakhs) Statement of Assets and Liabilities Standalone Sr. Particulars 31.03.2023 31.03.2022 (Audited) (Audited) A. ASSETS 1. Non-current assets (a) Property, plant and equipment 15,920.84 16,564.25 (b) Capital work-in-progress 664.27 140.11 (c) Ri
Slide 23: Corporate Overview
CORPORATE OVERVIEW 22
Slide 24: Greenply at a glance
Greenply at a glance Listed in NSE & Wood based products - One of the largest 35+ E-0 BSE-Rs. 2,000+ Plywood and allied, Interior Years of experience India’s first Zero crores Face Veneer, MDF infrastructure in delivering quality Emission plywood Market Cap brands in India plywood products Best Gree
Slide 25: Manufacturing excellence
Manufacturing excellence Plywood & allied (Own Capacity Plywood & allied (Domestic Capacity Kriparampur, West Bengal Manufacturing ) Location (Mn SqM pa) Partner) Location (Mn SqM pa) Bareilly, Uttar Pradesh ~10.00 Bamanbore, Gujarat 15.80 Hapur, Uttar Pradesh (Upcoming)* 7.50 Sandila, Lucknow (U.P.
Slide 26: MDF Project- Successfully Started Production
MDF Project- Successfully Started Production MDF Project Details Product Medium Density Fiber Board (MDF)- Exterior, Interior, HDMR, HDF Sub- categories of Thin & thick, pre-lam and other value- Products added products Location Vadodara Distt., Gujarat, India Capacity 800 CBM / day Area covered 70 a
Slide 27: Ownership & Stakeholder Value Creation
Ownership & Stakeholder Value Creation Top 10 Non-Promoter holding- 31st Mar 2023 Shareholding Pattern- 31st Mar 2023 Shareholding Top 10 Non- Promoters % Mirae Asset Mutual Fund 8.8 12.31% Promoter & Promoter Group HDFC Mutual Fund 8.6 FIIs Tata Mutual Fund 5.5 PGIM Mutual Fund 2.9 Insurance Co. &
Slide 28: Branding & Marketing Initiatives
Branding & Marketing Initiatives New Product launch- Demonstration kit for Club 700 Point of sale messaging & communication ❖ Kit with “ wooden fragrance diffuser” ❖ ~500 trade partners reached out ❖ 980+ Outlets Brand Engagement Trade & In-shop Visibility ❖ New Year Celebration – 600+ dealers ❖ Hol
Slide 29: Branding & Marketing Initiatives- Various Events
Branding & Marketing Initiatives- Various Events Indiawood Exhibition Architect Meet Product & brand value proposition ❖ Generated 500+ visitors leads ❖ Engaged 300+ Architects Health Check-up Camps Green Samriddhi Activation ❖ 1,050+ contractors benefited ❖ Engaged 1,500+ contractors ❖ Social Media
Slide 30: Industry First – Hindustan Ki Shaan Awards
Industry First – Hindustan Ki Shaan Awards To honour and celebrate the artistry of our carpenter and contractor community ❖ Reached out to over 1mn+ contractors ❖ Acquired new database of 13,445 contractors ❖ Received 1,300+ nominations ❖ Announced 4 regional & 1 national winner at the highly emotio
Slide 31: Awards & Recognition
Awards & Recognition Great Place to Work-Three times in a Best Green Manufacturing India’s Most trusted Brand- 2022 row (2020, 2021, 2022) Company- 2022 30
Slide 32: Strategic Initiatives
Strategic Initiatives Introducing Employee innovative & futuristic engagement products Automation Focus on ESG & digitization Expanding Product portfolio manufacturing expansion base at diversified locations Strategic Initiatives 31 Adopting a multi-pronged approach to leverage the emerging opportun
Slide 33: Thank You!
For further information, please contact: Gautam Jain – AVP, Strategy & Investor Relations D-1401 & 1402, Lotus Corporate Park, Jai Coach Signal, Ram Mandir Road, Goregaon (East), Mumbai- 400063 Tel: +91 33 3051 5000 / +91 9987899747 Email : gautam.jain@greenply.com Registered Office: Makum Road, P.O
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