Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q1 FY2017 Earnings Presentation
22 slides from Greenply Industries's earnings presentation, August 2016
Slide 1: Greenply Industries Limited Financial Results Presentation Q1 FY 2017
GREENPLY INDUSTRIES LIMITED FINANCIAL RESULTS PRESENTATION - Q1 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 – Q1 FY 2017
FINANCIAL HIGHLIGHTS – Q1 FY 2017 • Net Sales up by 9.3% YoY to Rs. 414.91 crores – Plywood revenues up by 7.7% YoY to Rs. 293.31 crores, contributing 70.7% of net sales – MDF revenues grew by 11.4% YoY to Rs 119.59 crores, contributing 28.8% to net sales – New product Wallpaper contributed Rs 2.01
Slide 5: Financial Highlights – Q1 FY 2017
FINANCIAL HIGHLIGHTS – Q1 FY 2017 Q1 FY 17 Q1 FY 16 Key ratios (%) Q1FY17 Q1FY16 9.3% Gross Margin 45.6% 44.5% 414.91 NET SALES 379.75 EBITDA Margin 15.5% 14.7% 12.2% EBIT Margin 12.6% 11.5% Net Margin (*) 8.2% 7.1% 189.36 GROSS PROFIT 169.80 Ad and promotions / Net Sales 3.3% 2.7% 15.5% Staff Cost/
Slide 6: Financial Highlights – B/S Perspective
FINANCIAL HIGHLIGHTS – B/S PERSPECTIVE Balance Sheet Snapshot June 30, 2016 June 30, 2015 March 31, 2016 (Rs. crore) Net worth 647.87 519.16 613.50 Total debt 222.92 348.97 258.81 Long Term Debt (Including Current Maturity) 144.12 175.24 161.81 Short Term Debt 78.80 173.73 97.00 Capital Employed
Slide 7: Financial Results Q1 FY2017
FINANCIAL RESULTS Q1 FY2017 (Rs. in lacs) Sl. No. Particulars QE 30.06.2016 QE 31.03.2016 QE 30.06.2015 YE 31.03.2016 1 Income from Operations a) Net Sales / Income from operations (Net of excise duty) 41490.84 44806.02 37974.73 164572.97 b) Other Operating Income 17.35 45.66 9.80 76.04 Total income
Slide 8: Segmental Performance – Q1 FY17
SEGMENTAL PERFORMANCE – Q1 FY17 (Rs. in lacs) Particulars QE 30.06.2016 QE 31.03.2016 QE 30.06.2015 YE 31.03.2016 1. Segment Revenue (Net) a) Plywood & Allied Products 29334.87 31904.71 27244.96 116586.10 b) Medium Density Fibreboards 11972.44 12715.04 10739.57 47633.71 c) Unallocated 200.88 231.93
Slide 9: Segment Wise Performance
SEGMENT WISE PERFORMANCE Plywood Particulars Q1FY17 Q1FY16 Var (%) FY16 FY15 Var (%) Net sales (Rs. crore) 293.31 272.37 7.7% 1165.36 1152.07 1.2% EBITDA margin (%) 9.8% 8.4% 9.7% 9.1% EBIT margin (%) 7.5% 5.8% 7.3% 6.8% Annual capacity (million sqm.) 32.4 32.4 32.4 32.4 Production (million sqm.) 8.
Slide 10: 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 11: 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 01.04.2015 Share Capital as per I-GAAP 1206.82 Reserves & Surplus as per I-GAAP 47190.91 Shareholders Funds as at 01.04.2015 as per I-GAAP 48397.73 Recognition of Depreciation
Slide 12: 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 13: Joint Managing Director's Message
Joint Managing Director’s Message Commenting on the performance for Q1 FY2017, Mr. Shobhan Mittal, Joint Managing Director and CEO, Greenply Industries Ltd. said, “This has been another quarter of consolidation. We have delivered a stable performance in a challenging environment. Our operating perfo
Slide 14: Company Overview
COMPANY OVERVIEW CAPACITY UTILIZATION PRODUCTION MODEL • Plywood % utilization; further demand • Plywood – 70% in-house, moving towards to be catered through outsourcing an asset light set-up by increasing proportion • MDF % utilization; to undertake of outsourcing greenfield expansion in Andhra • M
Slide 15: 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 16: 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 Ve
Slide 17: Annexure
ANNEXURE
Slide 18: Plywood Manufacturing Facilities / Production Model
MANUFACTURING FACILITIES / PRODUCTION MODEL Facilities Production Model Capacity Location 70% in-house, 30% outsourced in volume terms (mn sqm.) PLYWOOD Tizit, Nagaland 4.50 To increase proportion of outsourcing to 30% (in value terms) from 22% currently over next 3 years Kriparampur, West Bengal 6.
Slide 19: Strong Performance Track Record
STRONG PERFORMANCE TRACK RECORD NET SALES GROSS PROFIT 1,561 1,646 725 651 1,314 1,390 538 560 1,059 427 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 EBITDA PBT 251 173 201 139 180 183 110 104 118 42 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16
Slide 20: Segment-wise Performance
SEGMENT-WISE PERFORMANCE Plywood Particulars FY12 FY13 FY14 FY15 FY16 CAGR Net sales (Rs. crore) 815.58 940.17 1037.30 1152.07 1165.36 9.3% EBITDA margin (%) 9.8% 10.6% 10.3% 9.1% 9.7% - EBIT margin (%) 7.2% 8.9% 7.9% 6.8% 7.3% - Annual capacity (million sqm.) 28.35 32.4 32.4 32.4 32.4 - Production
Slide 21: Our Brands
OUR BRANDS rn GREEN Nye ut WOOD FLOORS GREEN DEFENDER GREEN ™ GREEN Naturals 100% BURA TEAK VENEERS
Slide 22: 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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