Greenply Industries Ltd · NSE:GREENPLY

Greenply Industries — Q4 FY2019 Earnings Presentation

22 slides from Greenply Industries's earnings presentation, May 30, 2019

  1. Slide 1: Exchange filing cover letter

    Greenply/2019-20 May 30,2019 The Manager The Manager BSELimited 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 - 400001 Mumbai - 400 051 Scrip Code: 526797 Symbol- GREENPLY Dear Sir

  2. Slide 2: Financial Results Presentation Q4 & FY 2019

    GREENPLY INDUSTRIES LIMITED FINANCIAL RESULTS PRESENTATION Q4 & FY 2019

  3. 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

  4. Slide 4: Contents

    CONTENTS • Financial Highlights • Results and Segment details • Segment-wise Performance • Management Commentary • Company Overview • Outlook • Annexure

  5. Slide 5: Financial Highlights – Q4 FY 2019

    FINANCIAL HIGHLIGHTS – Q4 FY 2019 • Net Sales up by 21.5% YoY to Rs. 510.2 crores o Plywood revenues up by 24.5% YoY to Rs. 380.77 crores, contributing 74.6% of net sales o MDF revenues up by 21.3% YoY to Rs 127.52 crores, contributing 25% to net sales – Unallocated Segment comprising of Wallpaper,

  6. Slide 6: Financial Highlights – Q4 FY 2019

    FINANCIAL HIGHLIGHTS – Q4 FY 2019 Q4 FY 19 Q4 FY 18 Key ratios (%) Q4 FY19 Q4 FY18 Gross Margin 41.4% 44.8% 21.5% EBITDA Margin 13.2% 13.9% 510.2 NET SALES 420.0 EBIT Margin 9.3% 11.2% 12.4% Net Margin 5.3% 7.8% Ad and promotions / Net 211.3 GROSS PROFIT 188.0 3.2% 3.8% Sales Staff Cost/ Net Sales 1

  7. Slide 7: Financial Highlights – 12M FY 2019

    FINANCIAL HIGHLIGHTS – 12M FY 2019 12M FY 19 12M FY 18 Key ratios (%) 12M FY19 12M FY18 Gross Margin 43.9% 46.5% 9.6% EBITDA Margin 12.1% 14.7% 1,809.1 NET SALES 1,651.4 EBIT Margin 8.3% 12.0% 3.5% Net Margin 5.6% 8.2% Ad and promotions / Net 794.1 GROSS PROFIT 767.3 3.9% 3.3% Sales Staff Cost/ Net

  8. Slide 8: Financial Highlights – B/S Perspective

    FINANCIAL HIGHLIGHTS – B/S PERSPECTIVE Balance Sheet Snapshot March 31, 2019 March 31, 2018 Dec 31, 2018 (Rs. crore) Net worth 1007.12 915.05 979.94 Total debt 720.87 652.46 750.04  Long Term Debt (Including Current Maturity) 582.51 483.98 571.50  Short Term Debt 138.36 168.48 178.54 Capital Emplo

  9. Slide 9: Financial Highlights – Ratios

    FINANCIAL HIGHLIGHTS – RATIOS Key Ratios March 31, 2019 March 31, 2018 Dec 31, 2018 Inventory (days) 55 46 65 Debtor (days) 65 63 68 Creditor (days) 58 47 54 Working Capital Turnover (days) 62 62 79 RoE (%) 10.0% 14.8% 10.0% RoCE – Pre-Tax 8.7% 12.7% 7.9% RoCE – Post-Tax 8.1% 9.3% 7.6% Net Debt / Eq

  10. Slide 10: Financial Results Q4 & FY 2019

    FINANCIAL RESULTS Q4 & FY 2019 STD STD STD STD STD CONS (Rs. in lakhs) CONS Particulars 3M 31.03.2019 3M 31.12.2018 3M 31.03.2018 12M 31.03.2019 12M 31.03.2018 12M 31.03.2019 12M 31.03.2018 Income a) Revenue from operations 51,616.58 46,285.03 43,713.34 1,83,220.57 1,70,413.55 1,97,237.89 1,73,697.5

  11. Slide 11: Segmental Performance – Q4 & FY 2019

    SEGMENTAL PERFORMANCE – Q4 & FY 2019 (Rs. in lakhs) STD STD STD STD STD CONS CONS Particulars 3M 31.03.2019 3M 31.12.2018 3M 31.03.2018 12M 31.03.2019 12M 31.03.2018 12M 31.03.2019 12M 31.03.2018 Segment Revenue a) Plywood and allied products 38,181.99 33,380.06 31,301.98 1,38,052.38 1,20,320.09 1,5

  12. Slide 12: Segment Wise Performance

    SEGMENT WISE PERFORMANCE Particulars Q4FY19 Q4FY18 Var (%) FY19 FY18 Var (%) Net sales (Rs. crore) 380.77 305.78 24.5% 1372.49 1147.94 19.6% EBITDA margin (%) 10.6% 9.1% 10.9% 10.0% Plywood EBIT margin (%) 9.0% 7.2% 9.1% 7.9% Annual capacity (million sqm.) 35.4 32.4 35.4 32.4 Production (million sqm

  13. Slide 13: Joint Managing Director's Message

    Joint Managing Director’s Message Commenting on the performance for Q4 & FY2019, Mr. Shobhan Mittal, Joint Managing Director and CEO, Greenply Industries Ltd. said, “Net Sales grew by 21.5% in comparison to the y-o-y quarter. Plywood Sales grew by 24.5% and MDF revenues by 21.3%. For the full year,

  14. Slide 14: Company Overview

    COMPANY OVERVIEW CAPACITY UTILIZATION PRODUCTION MODEL • Plywood 115% utilization (FY 19); further demand being catered through • Plywood – Moving towards an asset light outsourcing set-up by increasing outsourcing in mid- segment • MDF 47% utilization (FY 19); Capacity utilization expected to impro

  15. Slide 15: Company Overview

    COMPANY OVERVIEW BUSINESS SEGMENTS STRONG INDUSTRY POTENTIAL • Wood based products - Plywood • Plywood industry size – Rs. 180 billion and allied products, Medium MDF industry size – Rs. 19 billion Density Fibreboards (MDF) • Strong demand drivers – rising residential/ commercial construction, incre

  16. Slide 16: Growth Outlook

    GROWTH OUTLOOK INDUSTRY DRIVERS PRODUCT PROFILE • Rising demand from the real estate sector • To improve mix of plywood through increase • Increasing urbanisation, higher disposable in mix of value-added products like Green incomes and a growing middle class Defender, Green Gold Prima and Natural •

  17. Slide 17: Annexure

    ANNEXURE

  18. Slide 18: Manufacturing Facilities / Production Model

    MANUFACTURING FACILITIES / PRODUCTION MODEL Facilities Production Model Capacity 70% in-house, 30% outsourced in volume terms Location (mn sqm.) To increase proportion of outsourcing to 30% (in value terms) PLYWOOD Tizit, Nagaland 4.50 from 22% currently over next 3 years Kriparampur, West Bengal 6.

  19. Slide 19: Performance Track Record

    PERFORMANCE TRACK RECORD NET SALES GROSS PROFIT 1,809 775 767 794 725 1,655 1,651 651 1,646 1,561 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 EBITDA PBT 251 258 243 219 191 183 173 139 112 104 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19

  20. Slide 20: Segment-wise Performance

    SEGMENT-WISE PERFORMANCE Particulars FY15 FY16 FY17 FY18 FY19 CAGR Net sales (Rs. crore) 1,152.07 1,175.64 1,167.99 1,147.94 1,372.49 4.5% EBITDA margin (%) 9.1% 9.3% 11.2% 10.0% 10.9% - Plywood EBIT margin (%) 6.8% 7.2% 8.9% 7.9% 9.1% - Annual capacity (million sqm.) 32.4 32.4 32.4 32.4 35.4 - Prod

  21. Slide 21: Our Brands

    OUR BRANDS vo Sf GREENPANEL GREEN DEFENDER GREEN co Naturale 100% BURNA TEAK VENEERS COMPrE CIE SEM GREEN —— DOORS

  22. Slide 22: About Greenply Industries Limited

    ABOUT GREENPLY INDUSTRIES LIMITED Greenply Industries Limited (GIL) enjoys leadership position in plywood and medium density fibreboards (MDF) accounting for almost 26 percent of the organized plywood and 23 percent of the MDF market in India. GIL has four state–of-the-art manufacturing facilities f

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