Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q4 FY21 Earnings Presentation
22 slides from Greenlam Industries's earnings presentation, May 28, 2021
Slide 1: Cover letter to stock exchanges
Greenlam/2021-22 May 28, 2021 The Manager, The Manager, BSE Limited National Stock Exchange of India Ltd. 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 Fax N
Slide 2: Results Presentation Q4 & FY21
Results Presentation Q4 & FY21 May 27, 2021
Slide 3: Product Portfolio
Product Portfolio Decorative Laminate & Allied Products Veneer & Allied Products Decorative Mikasa Mikasa Laminates Compact Panels MFC Veneer Floor Door Standard Compact Panels Natural Engineered Lab Guardian Veneer Engineered Wood Door Commodity to Melamine Restroom & Locker Wood Floor and Premium
Slide 4: Audited Consolidated Financials Q4 & FY21
Audited Consolidated Financials Q4 & FY21
Slide 5: Consolidated Performance for Q4FY21
Consolidated Performance for Q4FY21 The current quarter saw the highest quarterly revenues of INR 415 crores Laminate production and sales volumes were also highest in the quarter at 4.4 million and 4.5 million sheets respectively Consolidated Net Revenue for the quarter grew by 24.1% on seque
Slide 6: Consolidated Performance for Q4FY21
Consolidated Performance for Q4FY21 Revenues of decorative veneer business grew by 24.1% on sequential basis and grew by 33.8% on y-o-y basis to INR 31.9 crores in Q4FY21 from INR 23.8 crores in Q4FY20, volumes growth stood at 44.0% Revenues of engineered wood flooring business grew by 28.5% on
Slide 7: Consolidated Performance for Q4FY21
Consolidated Performance for Q4FY21 EBIDTA margin improved by 210 bps at 16.1% in Q4FY21 as compared to 14.0% in Q4FY20 EBIDTA in absolute terms grew by 48.3% to INR 67.1 crores in Q4FY21 as comparison to INR 45.2 crores in the Q4FY20 In the current quarter there was an Exceptional Items of Rs
Slide 8: Consolidated Performance for FY21
Consolidated Performance for FY21 Consolidated Net Revenue for the year ended March 31, 2021, de-grew by 9.2% to INR 1,199.6 Crores as compared to INR 1,320.6 Crores in FY20 Laminate revenue de-grew by 5.1% to INR 1,065.3 crores in FY21 from INR 1,122.2 crores in FY20 In FY21 Domestic laminate
Slide 9: Consolidated Performance for FY21
Consolidated Performance for FY21 Gross Margin improved by 60 bps to 49.8% in FY21 from 49.2% in FY20, due to improved product mix and operational efficiency Gross Profit in absolute terms declined by 8.0% to INR 598.0 crores in FY21 as compared to INR 650.2 crores in FY20 EBIDTA margin grew b
Slide 10: Profit and Loss Statement
Consolidated Financial Performance Profit and Loss Statement INR Crores Q4Y21 Q4FY20 YoY% Q3FY21 QoQ% FY21 FY20 YoY% Revenue 415.3 324.0 28.2% 334.6 24.1% 1199.6 1320.6 -9.2% Raw Material 213.0 161.4 160.3 601.6 670.4 Gross Profit 202.4 162.6 24.5% 174.3 16.1% 598.0 650.2 -8.0% Gross Margin % 48.7%
Slide 11: Balance Sheet
Consolidated Financial Performance Balance Sheet INR Crores Mar-21 Mar-20 INR Crores Mar-21 Mar-20 Shareholder’s Fund 573.9 500.8 Non-Current Assets 495.5 510.6 Share capital 12.1 12.1 Fixed assets 428.2 442.2 Reserves & Surplus 561.4 488.6 Goodwill 3.1 3.2 Minority 0.5 0.1 Other Non-Current Assets
Slide 12: Consolidated Performance for Q4 & FY21
Consolidated Performance for Q4 & FY21 (INR Crores) Q4FY21 Q3FY21 Q2FY21 Q1FY21 FY21 Q4 FY20 FY20 Laminates & Allied Revenue 365.6 295.6 258.5 145.6 1065.3 283.6 1122.2 Veener & Allied Revenue 49.7 39.0 30.8 14.7 134.3 40.4 198.3 Total Revenue 415.3 334.6 289.3 160.4 1199.6 324.0 1320.6 Gross Profit
Slide 13: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment INR Crores Q4FY21 Q4FY20 YoY% Q3FY21 QoQ% FY21 FY20 YoY% Net Revenue from Operations 365.6 283.6 28.9% 295.6 23.7% 1,065.3 1,122.2 -5.1% Gross Profit 183.0 142.3 28.6% 158.7 15.3% 544.2 561.5 -3.1% Gross Margin % 50.1% 50.2% (10) bps 53.7
Slide 14: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment Particulars Q4FY21 Q4FY20 YoY% Q3FY21 QoQ% FY21 FY20 YoY% Capacity (Mn Sheets) 15.62 15.62 - 15.62 - 15.62 14.91 - Production (Mn Sheets) 4.36 3.22 35.2% 3.98 9.4% 13.57 13.74 -1.2% Sales (Mn Sheets) 4.52 3.45 31.1% 3.91 15.6% 13.46 13.23
Slide 15: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment INR Crores Q4FY21 Q4FY20 YoY% Q3FY21 QoQ% FY21 FY20 YoY% Net Revenue from Operations 49.7 40.4 23.1% 39.0 27.3% 134.3 198.3 -32.3% Gross Profit 19.3 20.3 -4.6% 15.6 23.6% 53.8 88.7 -39.3% Gross Margin % 38.9% 50.2% (1130) bps 40.1% (120) bp
Slide 16: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment Particulars Q4FY21 Q4FY20 YoY% Q3FY21 QoQ% FY21 FY20 YoY% Capacity (Mn Sqmt) 4.20 4.20 - 4.20 - 4.20 4.20 - Production (Mn Sqmt) 0.48 0.33 45.0% 0.34 42.6% 1.08 1.57 -31.1% Sales (Mn Sqmt) 0.47 0.33 44.0% 0.36 29.4% 1.12 1.54 -27.0% Average
Slide 17: Engineered Wooden Floors and Doors
Consolidated Financial Performance Engineered Wooden Floors INR Crores Q4FY21 Q4FY20 YoY% Q3FY21 QoQ% FY21 FY20 YoY% Revenue 10.8 9.2 17.2% 8.4 28.5% 31.7 51.2 -38.1% EBITDA (2.9) (1.1) (1.4) (6.4) (7.2) Capacity Utilization 16% 16% 14% 13% 21% Engineered Wooden Doors INR Crores Q4FY21 Q4FY20 YoY% Q
Slide 18: Net Debt Position
Consolidated Financial Performance • Net debt as on Mar 31, 2021, stood at INR 123.3 crores as against INR 263.4 crores as on March 31, 2020, resulting in a reduction of INR 140 crores for the financial year • Debt Position is as under: INR Crores Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20 Short Term Debt 1
Slide 19: Working Capital Cycle
Consolidated Financial Performance Working Capital cycle saw further improvement as under: Amount in Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20 INR Crores Amount Days Amount Days Amount Days Amount Days Amount Days Inventory 378 83 359 98 369 116 412 234 371 104 Debtors 136 30 113 31 103 32 122 70 138 39 Cr
Slide 20: Return Ratios – ROCE & ROE
Consolidated Financial Performance Return Ratios – ROCE & ROE INR Crores Q4FY21 Q4FY20 Q3FY21 FY21 FY20 EBIT (Before Exceptional Items) 56.0 33.4 45.8 125.3 130.2 PAT 30.9 21.7 32.0 73.7 86.7 Capital Employed 841.4 819.4 818.1 841.4 819.4 Capital Employed (Ex- GSL) 796.4 774.4 772.7 796.4 774.4 Net
Slide 21: Debt Ratios
Consolidated Financial Performance Debt Ratios INR Crores FY21 FY20 Net Debt-Equity Ratio Long Term Debt 0.53 108.8 121.4 (Including current portion) Short Term Debt 139.6 172.7 0.21 Total Debt 248.4 294.2 FY21 FY20 Cash & Bank Balance 18.7 30.7 Liquid Investments 106.4 0.0 Net Debt-EBIDTA Ratio Net
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. Ami Parekh Email: ashok.sharma@greenlam.com shogun.jain@sga