Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q2 FY2021 Earnings Presentation
33 slides from Greenply Industries's earnings presentation, Nov 4, 2020
Slide 1: Cover letter to stock exchanges
Greenply/2020-21 November 4, 2020 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 Security Code: 5~6797 Symbol- GREENPL
Slide 2: Q2 & H1FY2021 Financial Results Presentation
Q2 & H1FY2021 Financial Results Presentation
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: Contents
Contents Overview Financial Highlights: Consolidated & Standalone Financial Results Chairman & MD’s comments Shareholding Patters Company Overview Growth Outlook Manufacturing Facilities Our Brands Marketing /Activation Brand Activation - Digital 3
Slide 5: Overview
Overview ➢ Continued thrust on enhancing efficiencies, strengthening marketing and distribution reach to enable Greenply to be Future Ready ➢ Utilisations across India facilities improved to ~107% in the quarter under review. Operations at Gabon also progressing encouragingly ➢ Financial metrics beg
Slide 6: Financial Highlights – Q2 FY 2021
Financial Highlights – Q2 FY 2021 Consolidated Gross margins down by 254 bps YoY to 39.6% Consolidated Net Sales down by Standalone Gross margins down by 3 Consolidated EBITDA margins down 22.3% YoY to Rs. 294.6 crore bps YoY to 39.6% by 51 bps YoY to 11.4% Standalone Net Sales down 31% YoY Standalo
Slide 7: Financial Highlights – H1 FY 2021
Financial Highlights – H1 FY 2021 Consolidated Gross margins down by 29 bps YoY to 41.7% Consolidated Net Sales down by Standalone Gross margins down by 3 Consolidated EBITDA margins down 41.3% YoY to Rs. 426.8 crore bps YoY to 40.1% by 469 bps YoY to 7.2% Standalone Net Sales down by 46.9% Standalo
Slide 8: Consolidated Financial Highlights – Q2 FY 2021
Consolidated Financial Highlights – Q2 FY 2021 Figures in Rs crore Key Ratios (%) Q2 FY21 Q2 FY20 Q2 FY21 Q2 FY20 Gross Margin 39.6 42.1 Net Sales 294.6 378.9 -22.3% EBITDA Margin 11.4 11.9 EBIT Margin 9.4 10.2 Gross Profit 116.6 159.7 -26.9% Net Margin 6.3 7.0 Ad and promotions / Net Sales 2.4 3.2
Slide 9: Consolidated Financial Highlights – H1 FY 2021
Consolidated Financial Highlights – H1 FY 2021 Figures in Rs crore Key Ratios (%) H1 FY21 H1 FY20 H1 FY21 H1 FY20 Gross Margin 41.7 42.0 Net Sales 426.8 727.1 -41.3% EBITDA Margin 7.2 11.9 EBIT Margin 4.7 10.2 Gross Profit 178.1 305.6 -41.7% Net Margin 1.7 6.5 30.8 86.6 Ad and promotions / Net Sales
Slide 10: Standalone Financial Highlights – Q2 FY 2021
Standalone Financial Highlights – Q2 FY 2021 Figures in Rs crore Key Ratios (%) Q2 FY21 Q2 FY20 Q2 FY21 Q2 FY20 Gross Margin 39.6 39.7 Net Sales 237.4 344.1 -31.0% EBITDA Margin 10.6 11.4 EBIT Margin 8.9 9.8 Gross Profit 94.1 136.5 -31.0% Net Margin 6.0 6.7 Ad and promotions / Net Sales 3.0 3.5 EBIT
Slide 11: Standalone Financial Highlights – H1 FY 2021
Standalone Financial Highlights – H1 FY 2021 Figures in Rs crore Key Ratios (%) H1 FY21 H1 FY20 H1 FY21 H1 FY20 Gross Margin 40.1 40.1 Net Sales 344.5 648.3 -46.9% EBITDA Margin 5.8 11.2 EBIT Margin 3.6 9.6 Gross Profit 138.2 260.2 -46.9% Net Margin 1.4 6.0 Ad and promotions / Net Sales 3.1 3.9 EBIT
Slide 12: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Sept’20 Sept’19 Mar’20 Balance Sheet Perspective Capital Employed 658.9 645.3 Figures in Rs crore 577.2 534.9 500.1 430.1 Net worth Total Debt 282.5 382.5 267.4 376.4 377.9 Consolidated Standalone 194.7 170.9 364.0 143.1 356.6 357.0 73.5 Cash & Cash equivalents/Bank balances 6
Slide 13: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Sept’20 Sept’19 Mar’20 Balance Sheet Perspective Inventories Figures in Rs crore 177.1 159.5 155.7 143.8 131.9 114.1 Receivables Payables 359.3 356.5 231.7 214.0 219.3 218.4 330.8 307.9 182.9 165.6 Consolidated Standalone 209.7 175.4 Fixed Assets 320.1 305.7 319.5 Consolidated
Slide 14: Financial Highlights – Ratios
Financial Highlights - Sept’20 Sept’19 Mar’20 Ratios Inventories (Days) 68 61 46 39 42 37 Debtors (Days) Creditors (Days) 93 93 88 Consolidated Standalone 78 92 60 62 63 54 90 90 89 Working Capital Turnover (Days) 80 78 75 66 68 68 Consolidated Standalone Consolidated Standalone Consolidated Standal
Slide 15: Financial Highlights – Ratios
Financial Highlights – Sept’20 Sept’19 Mar’20 Ratios RoCE Post-tax (%) 17.6 17.6 10.5 9.9 ROE (%) RoCE Pre-tax (%) 5.7 5.2 22.1 23.2 25.2 21.2 12.6 12.6 Consolidated Standalone 12.5 9.1 6.2 5.8 Debt/Equity 3.8 2.7 0.75 0.71 Consolidated Standalone Consolidated Standalone 0.51 0.47 0.40 0.21 Consolid
Slide 16: Consolidated Performance - Q2 FY 2021 v/s Q2 FY 2020
Consolidated Performance - Q2 FY 2021 v/s Q2 FY 2020 Greenply Subsidiaries Consolidated Figures in Rs crore Q2 FY21 Sales Gross Profit EBITDA 33.5 294.6 116.6 237.4 94.1 25.1 8.4 57.2 22.5 Q2 FY20 Sales 378.9 Gross Profit EBITDA 45.0 344.1 159.7 39.1 136.5 34.8 23.2 5.9 15
Slide 17: Consolidated Performance - H1 FY 2021 v/s H1 FY 2020
Consolidated Performance - H1 FY 2021 v/s H1 FY 2020 Greenply Subsidiaries Consolidated Figures in Rs crore H1 FY21 Sales Gross Profit EBITDA 426.8 178.1 30.8 344.5 138.2 20.1 10.7 82.3 39.9 H1 FY20 Sales 727.1 Gross Profit EBITDA 86.6 648.3 305.6 260.2 72.8 78.8 45.4 13.8 16
Slide 18: Greenply Standalone Performance
Greenply Standalone Performance Particulars Q2 FY21 Q2 FY20 Var(%) H1FY21 H1FY20 Var(%) Net sales (Rs. crore) 237.4 344.1 -31.0 344.5 648.34 -46.9 EBITDA margin (%) 10.6 11.4 5.8 11.2 EBIT margin (%) 8.9 9.8 3.6 9.6 Annual capacity (million sqm.) 24.9 24.9 24.9 24.9 Production (million sqm.) 6.67 9.
Slide 19: Consolidated Financial Results – P&L Q2 & H1 FY 2021
Consolidated Financial Results – P&L Q2 & H1 FY 2021 (₹ in Lakhs ) Statement of Unaudited Cons olidated Financial Res ults for the quarter and s ix months ended 30 September 2020 CONS 3M CONS 3M CONS 3M CONS 6M CONS 6M CONS 12M Particulars 30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03
Slide 20: Standalone Financial Results – P&L Q2 & H1 FY 2021
Standalone Financial Results – P&L Q2 & H1 FY 2021 (₹ in Lakhs ) Statement of Unaudited Standalone Financial Res ults for the quarter and s ix months ended 30 September 2020 STD 3M STD 3M STD 3M STD 6M STD 6M STD 12M Particulars 30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020 (Unau
Slide 21: Standalone & Consolidated Financial Results – BS as on 30.09.2020
Standalone & Consolidated Financial Results – BS as on 30.09.2020 (₹ in Lak hs ) S tatement of As s ets and Liabilities Cons olidated S tandalone Particulars 30.09.2020 31.03.2020 30.09.2020 31.03.2020 (Unaudited) (Audited) (Unaudited) (Audited) AS S ETS Non-current as s ets (a) Property, plant and
Slide 22: Commenting on the performance for Q2FY2021 – Chairman & MD
“Commenting on the performance for Q2FY2021, Mr. Rajesh Mittal, Chairman & Managing Director, Greenply Industries Ltd. said, “We are happy with our performance in Q2FY21. The pandemic has come with its challenges but we are very happy with how our team has come together and not only countered every
Slide 23: Shareholding Pattern
Shareholding Pattern September 2020 September 2019 47.98% 52.02% 48.30% 51.70% Public Promoter Public Promoter 22
Slide 24: Company Overview
➢ CAPACITY UTILIZATION ➢ STRONG INDUSTRY POTENTIAL ▪ Plywood 79% utilization in H1FY2021 ▪ Plywood industry size – Rs. 190 billion ▪ Plywood 149% utilization in H1FY2020 ▪ Strong demand drivers – rising residential/ commercial construction, increasing ➢ PRODUCTION MODEL urbanization, high disposable
Slide 25: Growth Outlook
Growth Outlook PRODUCT ADVERTISING & IT DISTRIBUTION FINANCIAL INDUSTRY PROFILE PROMOTIONAL INITIATIVES NETWORK PERFORMANCE DRIVERS SPENDS ➢ To improve mix of ➢ Continued ➢ Upgraded IT ➢ To increase the ➢ Margin expected ➢ Rising demand plywood through investments in infrastructure – number of to im
Slide 26: Manufacturing Facilities / Business Model
Manufacturing Facilities / Business Model Facilities Business Model Capacity 61% Premium products, 39% mid & low end products in volume terms in Location (mn sqm.) H1 FY21 Plywood Tizit, Nagaland 4.50 70% Premium products, 30% mid & low end products in value terms in Kriparampur, West Bengal 6.00 H1
Slide 27: Our Brands
optim: ES Bhaosaply fm PLYWOOD & BLOCKBOARD 26
Slide 28: Marketing / Activation
Marketing / Activation ➢ Veneerscape meets conducted in more than 30 Tier II & Tier III cities across India ➢ Primary focus on Veneers but also showcased our range of Plywood's including our zero emission Plywood, Green Doors & PVC range 27
Slide 29: Digital Activation
Digital Activation Engaged with our consumers with tropical post in the Q2 FY21 in all our social media handles Mahalaya Ganesh Chaturthi Independence Day 28
Slide 30: Digital Activation
Digital Activation Engaged with our consumers with product related post in all our social media handles Anti-termite Wood crrests Zero Emission guarantee 29
Slide 31: Digital Activation
Digital Activation New products launched were promoted in all our social media handles like Green Gold Platinum & Engineered Veneers Green Gold Platinum Engineered Veneers Creatives creatives 30
Slide 32: About Greenply
About Greenply Greenply Industries Limited (GIL) enjoys leadership position in plywood around 26 percent of the organized plywood market in India. GIL has three state–of-the-art manufacturing facilities for Plywood spread across the country producing world class interior products for the domestic an
Slide 33: Thank You
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Greenply Industries — Q2 FY2021 Earnings Presentation on 6ix