Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q1 FY2025 Earnings Presentation
23 slides from Greenlam Industries's earnings presentation, Jul 23, 2024
Slide 1: Cover letter to stock exchanges
Greenlam/2024-25 July 23, 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 Fax
Slide 2: Bettering: Expanding Horizons - Result Update Q1 FY2025
Bettering EX PA N D I N G H O R I Z O N S Result Update Q1 FY2025 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 Q1FY25
Business Update - Financial Highlights Q1FY25 ❖ During the first quarter, laminate production was 5.1 mn sheets amounting to capacity uitlisation of 83%. For the quarter, revenue growth stood at 17.4% on a YoY basis. ❖ The laminate business witnessed a value growth of 13.2% and volume growth of 11.9
Slide 13: Business Update - Financial Highlights Q1FY25
Business Update - Financial Highlights Q1FY25 ❖ Our net working capital days stood at 65 days for Q1FY25, compared to 72 days for Q1FY24, reflecting our disciplined commercial practices. ❖ Our net debt stood at ₹921.8 crores, which includes debt of approximately ₹465.0 crores for the particle board
Slide 14: Consolidated Financial Performance - Profit and Loss Statement
Consolidated Financial Performance Profit and Loss Statement INR Crores Q1 FY25 Q1 FY24 YoY% Q4 FY24 QoQ% FY24 Revenue 604.7 515.2 17.4% 624.1 -3.1% 2,306.3 Raw Material 290.0 245.9 293.5 1,087.5 Gross Profit 314.7 269.3 16.8% 330.6 -4.8% 1,218.9 Gross Margin % 52.0% 52.3% (30) Bps 53.0% (100) Bps 5
Slide 15: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment INR Crores Q1 FY25 Q1 FY24 YoY% Q4 FY24 QoQ% FY24 Net Revenue from Operations 534.3 472.0 13.2% 536.8 -0.5% 2,039.7 Gross Profit 281.3 250.3 12.4% 289.8 -2.9% 1,097.4 Gross Margin % 52.6% 53.0% (40 Bps) 54.0% (140 Bps) 53.8% EBITDA 72.9 6
Slide 16: Laminates & Allied Segment – Quantitative Details
Consolidated Financial Performance Laminates & Allied Segment – Quantitative Details Particulars Q1 FY25 Q1 FY24 YoY% Q4 FY24 QoQ% FY24 Annual Installed Capacity 24.52 21.02 16.7% 24.52 0.0% 24.52 (Mn Sheets) Production (Mn Sheets) 5.08 4.68 8.7% 5.21 -2.5% 19.85 Capacity Utilization (Annualized) 83
Slide 17: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment INR Crores Q1 FY25 Q1 FY24 YoY% Q4 FY24 QoQ% FY24 Net Revenue from Operations 42.8 42.5 0.7% 61.0 -29.9% 208.7 Gross Profit 19.4 18.3 6.3% 28.2 -31.1% 93.9 Gross Margin % 45.4% 43.0% 240 Bps 46.2% (80 Bps) 45.0% EBITDA -2.7 -1.6 2.0 -0.8 EB
Slide 18: Decorative Veneers – Quantitative Details
Consolidated Financial Performance Decorative Veneers – Quantitative Details Particulars Q1 FY25 Q1 FY24 YoY% Q4 FY24 QoQ% FY24 Annual Installed Capacity 4.20 4.20 4.20 4.20 (Mn Sqmt) Production (Mn Sqmt) 0.22 0.26 -14.6% 0.42 -48.0% 1.42 Capacity Utilization (Annualized) 21% 25% 40% 33% Sales (Mn S
Slide 19: Plywood & Allied Segment
Consolidated Financial Performance Plywood & Allied Segment INR Crores Q1FY25 Q1FY24 Q4FY24 Quantitative Details Q1 FY25 Q1 FY24 Q4 FY24 Net Revenue from Annual Installed Capacity (Mn 27.6 0.8 26.3 18.90 18.90 18.90 Operations Sqmt) Gross Profit 14.0 0.2 12.6 Production (Mn Sqmt) 1.13 0.04 1.10 Gros
Slide 20: Operating Parameters - Net Working Capital
Consolidated Financial Performance Operating Parameters - Net Working Capital Particulars Q1 FY25 Q1 FY24 Q4 FY24 FY24 Amt Amt Amt Amt Days Days Days Days INR Crores INR Crores INR Crores INR Crores Inventory 630.5 95 540.0 96 609.1 89 609.1 96 Trade Receivables 175.8 27 143.1 25 152.1 22 152.1 24 T
Slide 21: Debt Position
Consolidated Financial Performance Debt Position INR Crores Q1 FY25 Q1 FY24 FY24 Long Term Debt (Including current portion) 825.5 571.9 804.2 Short Term Debt 238.8 173.1 210.0 Total Debt* 1,064.3 745.0 1,014.2 Cash & Bank Balance 27.0 19.7 32.8 Liquid Investments 115.5 203.6 147.4 Net Debt 921.8 521
Slide 22: Return Ratios – ROCE & ROE
Consolidated Financial Performance Return Ratios – ROCE & ROE INR Crores Q1FY25 Q1FY24 Q4FY24 FY24 ROCE (Ex- Particle Board Project) EBIT 40.8 51.0 66.5 229.2 18.7% 19.2% 16.5% PAT 19.9 33.0 40.8 138.0 11.7% Capital Employed 2,160.2 1,736.8 2,091.6 2,091.6 Capital Employed Q1FY25 Q1FY24 Q4FY24 FY24
Slide 23: 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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