Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q2 & H1FY25 Earnings Presentation
24 slides from Greenlam Industries's earnings presentation, Oct 29, 2024
Slide 1: Cover letter to stock exchanges: Investor Presentation
Greenlam/2024-25 October 29, 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: Result Update Q2 & H1FY25
Bettering EX PA N D I N G H O R I Z O N S Result Update Q2 & H1FY25 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 1992 - 93 2002 2005 - 08 2009 2012 2014 - 16 ▪ Started commercial production ▪ Setting up of overseas ▪ Started commercial production ▪ Setting up of subsidiary in ▪ Demerged into separate entity ▪ Set up first laminate unit at of Decorative Veneer subsidiaries in Singapore and US of 2nd
Slide 5: Next Orbit – Larger, Stronger and more Profitable
Next Orbit – Larger, Stronger and more Profitable Capacity Creation Strong Financial Standing Leadership Position One stop solution Capacity creation ahead of the Robust balance sheet and Leadership across existing From standalone surfacing products demand curve Strong credit rating businesses provi
Slide 6: Product Portfolio: Integrated Surface and Substrate Solution provider
Product Portfolio: Integrated Surface and Substrate Solution provider 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 Co
Slide 7: Our Brands
Our Brands 6 www.greenlamindustries.com
Slide 8: Manufacturing Capabilities
Manufacturing Capabilities Products UOM Annual 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
Slide 9: Financial Performance for last 5 years
Financial Performance for last 5 years 2,306.0 294.7 138.0 2,026.0 128.0 1,703.4 232.9 178.3 173.3 187.0 86.7 90.6 1,320.6 1,199.6 73.7 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Revenue (INR Crs) *EBITDA (INR Crs) PAT (INR Crs) 0.77 18.2 17.3 16.8 15.7 16.5 14.9 13.8
Slide 10: Domestic Footprints
Domestic Footprints Nalagarh, Himachal Pradesh DOMESTIC 5 State of the art Manufacturing Facilities Behror, Rajasthan 17 Company owned large Regional Distribution Centers & Prantij, Gujarat warehouses 30,000+ Distributors, Dealers & Retailers Manufacturing Facilities Over 7,500 Employee base Corpora
Slide 11: International Footprints
International Footprints INTERNATIONAL Present in 120+ Countries 4 Company Operated Distribution Centers 16 International Offices 8 Overseas Operating Subsidiaries 130+ Overseas Employees 10 The Maps provided are for pictorial representation only Maps not to scale. All data, information, and maps ar
Slide 12: Business Update - Financial Highlights Q2 & H1FY25
Business Update - Financial Highlights Q2 & H1FY25 ❖ Laminate production volume, sales volume and sales value were highest in Q2FY25 ❖ The laminate production for the quarter was at 5.6 mn sheets. This amounts to annualized capacity utilization of 92% (vs 83% in Q1FY25) on the enhanced consolidated
Slide 13: Consolidated Financial Performance: Profit and Loss Statement
Consolidated Financial Performance Profit and Loss Statement INR Crores Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Revenue 680.8 603.6 12.8% 604.7 12.6% 1285.5 1118.9 14.9% Raw Material 329.3 293.3 290.0 619.3 539.2 Gross Profit 351.5 310.3 13.3% 314.7 11.7% 666.2 579.7 14.9% Gross Margin % 5
Slide 14: Consolidated Financial Performance: Balance Sheet
Consolidated Financial Performance Balance Sheet INR Crores Sept-24 Mar-24 INR Crores Sept-24 Mar-24 Shareholders Fund 1,111.9 1,076.9 Non-Current Assets 1,775.1 1,651.7 Share Capital 12.8 12.8 Fixed Assets 1,714.7 1,593.7 Reserves & Surplus 1,100.0 1,064.4 Goodwill 3.6 3.5 Minority Interest -0.9 -0
Slide 15: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment INR Crores Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Net Revenue from Operations 596.9 531.2 12.4% 534.3 11.7% 1,131.3 1,003.1 12.8% Gross Profit 309.9 279.6 10.8% 281.3 10.2% 591.2 529.9 11.6% Gross Margin % 51.9% 52.6% (70) bps
Slide 16: Laminates & Allied Segment – Quantitative Details
Consolidated Financial Performance Laminates & Allied Segment – Quantitative Details Particulars Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Annual Installed Capacity 24.52 24.52^ 24.52 24.52 24.52^ (Mn Sheets) Production (Mn Sheets) 5.61 4.96 13.3% 5.08 10.4% 10.70 9.63 11.1% Capacity Utiliza
Slide 17: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment INR Crores Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Net Revenue from Operations 57.9 57.5 0.6% 42.8 35.3% 100.7 100.0 0.6% Gross Profit 27.8 24.6 12.8% 19.4 42.9% 47.2 42.9 10.0% Gross Margin % 47.9% 42.8% 510 bps 45.4% 250 bps 46.
Slide 18: Decorative Veneers – Quantitative Details
Consolidated Financial Performance Decorative Veneers – Quantitative Details Particulars Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Annual Installed Capacity 4.20 4.20 4.20 4.20 4.20 (Mn Sqmt) Production (Mn Sqmt) 0.41 0.41 1.0% 0.22 87.6% 0.63 0.67 -5.0% Capacity Utilization (Annualized) 39%
Slide 19: Plywood & Allied Segment
Consolidated Financial Performance Plywood & Allied Segment INR Crores Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Net Revenue from Operations 26.0 14.9 74.0% 27.6 -5.9% 53.6 15.7 241.0% Gross Profit 13.9 6.1 127.1% 14.0 -0.7% 27.8 6.9 303.8% Gross Margin % 53.4% 40.9% 1,250 bps 50.6% 280 bps
Slide 20: Plywood & Allied Segment Quantitative Details
Consolidated Financial Performance Plywood & Allied Segment Quantitative Details Q2FY25 Q2FY24 YoY% Q1FY25 QoQ% H1FY25 H1FY24 YoY% Annual Installed Capacity (Mn Sqmt) 18.90 18.90 18.90 18.90 18.90 Production (Mn Sqmt) 1.08 0.75 44.0% 1.13 -4.9 2.21 0.79 179.0% Capacity Utilization (Annualized) 23% 1
Slide 21: Operating Parameters - Net Working Capital
Consolidated Financial Performance Operating Parameters - Net Working Capital Particulars Q2FY25 Q2FY24 Q1FY25 H1FY25 H1FY24 Amt Amt Amt Amt Amt Days Days Days Days Days INR Crores INR Crores INR Crores INR Crores INR Crores Inventory 658.4 88 548.2 83 630.5 95 658.4 93 548.2 89 Trade Receivables 20
Slide 22: Debt Position
Consolidated Financial Performance Debt Position INR Crores H1FY25 H1FY24 Q1FY25 Long Term Debt (Including current portion) 877.1 685.9 825.5 Short Term Debt 246.0 192.5 238.8 Total Debt* 1,123.1 878.5 1,064.3 Cash & Bank Balance 24.1 27.2 27.0 Liquid Investments 107.1 181.3 115.5 Net Debt 991.8 669
Slide 23: Return Ratios – ROCE & ROE
Consolidated Financial Performance Return Ratios – ROCE & ROE INR Crores Q2FY25 Q2FY24 Q1FY25 H1FY25 H1FY24 ROCE (Ex- Particle Board Project)^ 17.7% 18.3% EBIT 62.8 62.0 40.8 103.6 112.9 14.6% PAT 34.4 39.0 19.9 54.3 72.0 Capital Employed 2,236.3 1,892.9 2,160.2 2,236.3 1,892.9 Capital Employed Q2 F
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
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