Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q4 FY2017 Earnings Presentation
22 slides from Greenlam Industries's earnings presentation, May 2017
Slide 1: Results Presentation Q4 & FY17
Results Presentation Q4 & FY17
Slide 2: Safe Harbor
Safe Harbor 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 s
Slide 3: About Us
About Us Product offerings • Laminate & Allied: Decorative Laminates, Compact Laminates & Melamine Faced Chipboards • Decorative Veneer & Allied: Decorative Veneer, Engineered Wood Flooring & Engineered Doors Amongst top 3 Presence in over Decorative Veneer India’s 1st and only Laminate producer in
Slide 4: Standalone Financials
Greenlam Industries Limited
Slide 5: Performance Update
Performance Update Q4FY17 Q4FY17 Segmental Revenue Revenue stood at INR 268 crores, growth of 8%, led by 11% growth in domestic Decorative laminates segment Veneer & Allied Gross Margin at 44.0% in Q4 FY17 against 46.4% in Q4 FY16 14% EBIDTA stood at INR 39.5 crores a growth of 10% over Q4 FY16 Lami
Slide 6: Profit and Loss Statement
Profit and Loss Statement INR Crores Q4 FY17 Q4 FY16 YoY% FY17 FY16 YoY% Revenue 268.4 248.7 7.9% 970.4 936.7 3.6% Raw Material 150.4 133.4 536.6 517.8 Gross Profit 118.0 115.3 2.3% 433.8 418.9 3.5% Gross Margin % 44.0% 46.4% -240 bps 44.7% 44.7% -- Employee Cost 31.8 26.6 123.7 104.3 Other Expenses
Slide 7: Laminates & Allied Segment
Laminates & Allied Segment INR Crores Q4 FY17 Q4 FY16 YoY% FY17 FY16 YoY% Net Sales of Laminates & Allied Products 224.5 205.2 9.4% 832.2 797.4 4.4% Gross Profit 94.4 91.8 2.9% 363.0 344.4 5.4% Gross Margin % 42.1% 44.7% -260 bps 43.6% 43.2% 40 bps EBIDTA 34.6 33.3 4.0% 123.9 113.8 8.9% EBIDTA Margi
Slide 8: Laminates & Allied Segment: Production and Capacity
Laminates & Allied Segment Production and Capacity Sales in Mn Sheets Average Realisation (INR / Sheet) (Quarterly) in Mn Sheets +11.8% +15.0% -2.9% 3.01 2.97 3.01 3.32 3.46 645 3.01 626 Q4FY16 Q4FY17 Q4FY16 Q4FY17 Q4FY16 Q4FY17 Capacity Production +7.2% +7.3% -2.8% 12.02 11.79 12.02 12.64 11.86 12.
Slide 9: Decorative Veneers & Allied Segment
Decorative Veneers & Allied Segment INR Crores Q4 FY17 Q4 FY16 YoY% FY17 FY16 YoY% Net Sales of Decorative Veneers & Allied 43.9 43.5 1.0% 138.3 139.3 -0.7% Products Gross Profit 23.6 23.6 0.2% 70.9 74.4 -4.8% Gross Margin % 53.7% 54.1% -40 bps 51.2% 53.4% -220 bps EBIDTA 4.9 2.5 96.0% 2.8 10.1 -72.
Slide 10: Decorative Veneers: Production and Capacity
Decorative Veneers Production and Capacity Sales in Mn Sqmt Average Realisation (INR / Sqmt) (Quarterly) in Mn Sqmt -23.9% -8.9% +2.0% 1.05 1.05 0.45 0.41 808 824 0.46 0.35 Q4FY16 Q4FY17 Q4FY16 Q4FY17 Q4FY16 Q4FY17 Capacity Production -18.6% -13.8% +2.8% 4.20 4.20 1.59 763 784 1.37 1.61 1.31 FY16 FY
Slide 11: Geographic Segments
Geographic Segments Domestic (INR Crores) Exports (INR Crores) +7.8% +3.9% +8.2% +3.1% 175 575 597 93 362 373 163 86 Q4FY16 Q4FY17 FY16 FY17 Q4FY16 Q4FY17 FY16 FY17 11
Slide 12: Operating Parameters
Operating Parameters ROCE ROE Net Working Capital Days 18.9% 15.2% 59 17.0% 14.2% 49 FY16 FY17 FY16 FY17 FY16 FY17 INR Crores FY16 FY17 In Days FY16 FY17 Revenue 936.7 970.4 Inventory 81 77 EBIT 92.7 92.6 Debtors 49 40 PAT 40.3 42.9 Creditors 71 68 Capital Employed 544.2 490.9 Net Worth 264.5 303.1
Slide 13: Balance Sheet
Balance Sheet (INR Crores) Liabilities Mar – 17 Mar – 16 (INR Crores) Assets Mar – 17 Mar – 16 Shareholder’s Fund 303.1 264.5 Non-Current Assets 362.8 380.7 Share capital 12.1 12.1 Fixed assets 333.4 342.3 Reserves & Surplus 291.0 252.4 Non-Current Investments 24.1 24.1 Borrowings 164.4 254.4 Other
Slide 14: Consolidated Financials
Greenlam Industries Limited
Slide 15: Performance Update – FY17
Performance Update – FY17 Revenue at INR 1,076 crores against INR 1,030 in FY 16, growth of 4.5% FY17 Segmental Revenue Decorative Gross Margin at 47.3% against 47.8% in FY16 Veneer & Allied 13% EBIDTA stood at INR 141.3 crores against INR 129.5 crores in FY16, growth of 9.1% Laminates & Allied EBID
Slide 16: Profit and Loss Statement
Profit and Loss Statement INR Crores FY17 FY16 YoY% Revenue 1,075.9 1,029.7 4.5% Raw Material 566.7 537.3 Gross Profit 509.2 492.4 3.4% Gross Margin % 47.3% 47.8% -50 bps Employee Cost 154.2 139.8 Other Expenses 213.7 223.1 EBITDA 141.3 129.5 9.1% EBITDA Margin % 13.1% 12.6% 50 bps Other (Income)/Co
Slide 17: Laminates & Allied Segment
Laminates & Allied Segment Sales in Mn Sheets INR Crores FY17 FY16 YoY% +6.8% 11.92 12.73 Net Sales of Laminates & Allied Products 937.6 890.4 5.30% Gross Profit 438.3 418.8 4.7% FY16 FY17 Gross Margin % 46.7% 47.0% -30 bps EBIDTA 138.4 119.4 16.0% Average Realisation (INR / Sheet) -1.3% 713 EBIDTA
Slide 18: Operating Parameters
Operating Parameters ROCE ROE Net Working Capital Days 19.1% 17.1% 86 14.8% 15.4% 63 FY16 FY17 FY16 FY17 FY16 FY17 INR Crores FY16 FY17 In Days FY16 FY17 Revenue 1,029.7 1,075.9 88 77 Inventory EBIT 94.6 104.6 Debtors 65 49 PAT 37.7 49.8 Creditors 67 63 Capital Employed 641.4 547.1 245.1 290.7 Net W
Slide 19: Balance Sheet
Balance Sheet (INR Crores) Liabilities Mar – 17 Mar – 16 (INR Crores) Assets Mar – 17 Mar – 16 Shareholder’s Fund 290.7 245.1 Non-Current Assets 352.1 362.7 Share capital 12.1 12.1 346.2 357.2 Fixed assets Reserves & Surplus 278.6 233.0 Other Non-Current Assets 6.0 5.5 Borrowings 224.5 365.3 Long te
Slide 20: GST – Proposed Rates
GST – Proposed Rates Products Post – GST Pre – GST Decorative Laminates 18% Decorative Veneers 28% 12.5 % Excise + Prelaminated (MFC) Particle Board 28% 12.5 % to 14.5 % VAT Engineered Wood Floor 18% Engineered Door Sets (Door + Frames) 28% 20
Slide 21: Way ahead…
Way ahead… Improve volume and value sales in laminate segment in both domestic and export markets Laminate capacity expansion of 2 mn sheets at Nalagarh, HP announced in Q1 FY17 with marginal capital outlay of Rs. 25 crores, is on schedule and is likely to be operational by Jun 2017 Continue focus o
Slide 22: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Greenlam Industries Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L21016AS2013PLC011624 CIN: U74140MH2010PTC204285 Mr. Ashok Sharma - CFO Mr. Shogun Jain / Ms. Ruchi Rudra Email: ashok.sharma@greenlam.com shogun.jain@sg
Greenlam Industries — Q4 FY2017 Earnings Presentation on 6ix