Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q4 FY24 Earnings Presentation
26 slides from Greenlam Industries's earnings presentation, May 28, 2024
Slide 1: Filing cover letter to BSE and NSE
Greenlam/2024-25 May 28, 2024 The Manager The Manager BSE Limited National Stock Exchange of India Department of Corporate Services Limited Exchange Plaza, Bandra Kurla Floor 25, P. J. Towers, Dalal Street Complex Bandra (E) Mumbai - 400 001 Mumbai - 400 051 Fax No. 022-2272-3121/1278/1557/3354 Fax
Slide 2: Results Presentation Q4 & FY24
Bettering Culture of Execution Excellence Results Presentation Q4 & FY24 May 28, 2024 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 Set up first laminate unit at Setting up of overseas ▪ Acquisition of Greenlam Decolan SA Setting up of subsidiary in UK Behror and started commercial subsidiaries in Singapore and US ▪ Incorporation of Greenlam Limited* production and exports of Laminates 1992-93 2002 2005-08 2009 2012
Slide 5: Next Orbit
Next Orbit Capex Announcement (Dec-21) Greenfield expansion of Plywood at Tindivanam, Tamilnadu which started commercial production w.e.f. June 09, 2023 Greenfield Laminate plant at Naidupeta, Andhra Pradesh which started commercial production w.e.f. September 29, 2023 (Under Greenlam Limited*) Gree
Slide 6: Next Orbit – Larger, Stronger and more Profitable
Next Orbit – Larger, Stronger and more Profitable Capacity Creation Strong Balance Sheet Leadership Position One stop solution Capacity creation ahead of the Growing the business through strong Leadership across existing From standalone surfacing products demand curve balance sheet and cash flows bu
Slide 7: Product Portfolio
Product Portfolio 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 Compact Panels Engineered Wood Floor & Mikasa Floor Pa
Slide 8: Our Brands
Our Brands 7 www.greenlamindustries.com
Slide 9: Manufacturing Capabilities
Manufacturing Capabilities Products UOM 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 Behror
Slide 10: 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 11: Domestic Footprints
Domestic Footprints Nalagarh, Himachal Pradesh DOMESTIC 5 State of the art Manufacturing Facilities Behror, Rajasthan 12 Company owned large Regional Distribution Prantij, Gujarat Centers/godowns 23,000+ Distributors, Dealers & Retailers Manufacturing Facilities Over 6,500 Employee base Corporate Of
Slide 12: International Footprints
International Footprints INTERNATIONAL Present in 100+ Countries 4 Company Operated Distribution Centers 15 International Offices 8 Overseas Operating Subsidiaries 130+ Overseas Employees The Maps provided are for pictorial representation only Maps not to scale. All data, information, and maps are p
Slide 13: Business Update - Financial Highlights Q4FY24
Business Update - Financial Highlights Q4FY24 ➢ The laminate production for the quarter was highest at 5.2 mn sheets. This amounts to capacity utilization of 85% on the enhanced consolidated capacity of 24.52 mn sheets, resulting in growth of 14.6% on YoY basis and 4.2% of QoQ basis. The above produ
Slide 14: Business Update - Financial Highlights Q4FY24
Business Update - Financial Highlights Q4FY24 ➢ The Gross Margin for the quarter improved by 420 bps to 53.0% on YoY basis primarily on account of stable raw material prices and better product mix ➢ EBIDTA margin for the quarter stood at 13.4% on YoY basis, decline of 50 bps ➢ Our plywood unit in Ti
Slide 15: Particle Board Project Update
Particle Board Project Update ➢ The greenfield particle board project at Naidupeta, Andhra Pradesh has seen unexpected delays and cost overruns ➢ The overall capex cost for the greenfield particle board project has been revised to INR 875 crores from earlier declared project cost of INR 775 crores ➢
Slide 16: Consolidated Financial Performance – Profit and Loss Statement
Consolidated Financial Performance Profit and Loss Statement INR Crores Q4 FY24 Q4 FY23 YoY% Q3 FY24 QoQ% FY24 FY23 YoY% Revenue 624.1 533.8 16.9% 563.4 10.8% 2,306.3 2,026.0 13.8% Raw Material 293.5 273.2 254.8 1,087.5 1,079.3 Gross Profit 330.6 260.6 26.9% 308.6 7.2% 1,218.9 946.7 28.8% Gross Marg
Slide 17: Consolidated Financial Performance – Balance Sheet
Consolidated Financial Performance Balance Sheet INR Crores Mar-24 Mar-23 INR Crores Mar-24 Mar-23 Shareholders Fund 1,076.9 958.2 Non-Current Assets 1,651.7 1,030.6 Share Capital 12.8 12.7 Fixed Assets 1,593.7 882.8 Reserves & Surplus 1,064.4 945.5 Goodwill 3.5 3.5 Minority Interest -0.3 0.1 Other
Slide 18: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment INR Crores Q4 FY24 Q4 FY23 YoY% Q3 FY24 QoQ% FY24 FY23 YoY% Net Revenue from Operations 536.8 491.6 9.2% 499.8 7.4% 2,039.7 1,852.3 10.1% Gross Profit 289.8 241.8 19.9% 277.7 4.3% 1,097.4 876.3 25.2% Gross Margin % 54.0% 49.2% 480 bps 55.
Slide 19: Laminates & Allied Segment – Quantitative Details
Consolidated Financial Performance Laminates & Allied Segment – Quantitative Details Particulars Q4 FY24 Q4 FY23 YoY% Q3 FY24 QoQ% FY24 FY23 YoY% Annual Installed Capacity 24.52 19.02 24.52 24.52 19.02 (Mn Sheets) Production (Mn Sheets) 5.21 4.55 14.6% 5.00 4.2% 19.85 17.40 14.1% Capacity Utilizatio
Slide 20: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment INR Crores Q4 FY24 Q4 FY23 YoY% Q3 FY24 QoQ% FY24 FY23 YoY% Net Revenue from Operations 61.0 42.2 44.7% 47.7 28.0% 208.7 173.6 20.2% Gross Profit 28.2 18.8 49.8% 22.8 23.6% 93.9 70.4 33.4% Gross Margin % 46.2% 44.6% 160 bps 47.9% (170 bps)
Slide 21: Decorative Veneers – Quantitative Details
Consolidated Financial Performance Decorative Veneers – Quantitative Details Particulars Q4 FY24 Q4 FY23 YoY% Q3 FY24 QoQ% FY24 FY23 YoY% Annual Installed Capacity 4.20 4.20 - 4.20 - 4.20 4.20 - (Mn Sqmt) Production (Mn Sqmt) 0.42 0.31 37.6% 0.32 30.9% 1.42 1.24 14.4% Capacity Utilization (Annualize
Slide 22: Plywood & Allied Segment
Consolidated Financial Performance Plywood & Allied Segment INR Crores Q4 FY24 Q3FY24 FY24 Quantitative Details Q4 FY24 Q3FY24 FY24 Net Revenue from Annual Installed Capacity (Mn 26.3 16.0 57.9 18.90 18.90 18.90 Operations Sqmt) Gross Profit 12.6 8.0 27.6 Production (Mn Sqmt) 1.10 0.66 2.56 Gross Ma
Slide 23: Operating Parameters - Net Working Capital
Consolidated Financial Performance Operating Parameters - Net Working Capital Particulars Q4 FY24 Q4 FY23 Q3 FY24 FY24 FY23 Amt Amt Amt Amt Amt Days Days Days Days Days INR Crores INR Crores INR Crores INR Crores INR Crores Inventory 609.1* 89 513.5 88 599.2* 98 609.1* 96 513.5 93 Debtors 152.1 22 1
Slide 24: Debt Position
Consolidated Financial Performance Debt Position INR Crores FY24 FY23 Net Debt-Equity Ratio 0.77 Long Term Debt (Including current portion) 227.7 229.0 Long Term Debt (Naidupeta Project) 576.5 154.6 0.33 Short Term Debt 210.0 186.2 Total Debt* 1,014.2 569.9 FY24 FY23 Cash & Bank Balance 32.8 15.9 Li
Slide 25: Return Ratios – ROCE & ROE
Consolidated Financial Performance Return Ratios – ROCE & ROE INR Crores Q4FY24 Q4FY23 Q3FY24 FY24 FY23 ROCE (Ex- Particle Board Project) EBIT 66.5 61.6 49.8 229.2 187.6 24.0% 19.2% 18.2% 40.8 46.1 25.3 138.0 128.0 16.5% PAT Capital Employed 2,091.6 1,554.4 2,071.8 2,091.6 1,554.4 Q4FY24^ Q4FY23^ FY
Slide 26: 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