Greenlam Industries Ltd · NSE:GREENLAM
Greenlam Industries — Q4 FY23 Earnings Presentation
25 slides from Greenlam Industries's earnings presentation, May 27, 2023
Slide 1: Cover letter to stock exchanges
Greenlam/2023-24 May 27, 2023 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: Results Presentation Q4 & FY23
Results Presentation Q4 & FY23 May 27th, 2023 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 South Limited (GSL) production and exports of Laminates 1992-93 2002 2005-0
Slide 5: Next Orbit
Next Orbit Acquisition of HGIL (Dec-21) Acquired 74.91% equity share capital of HG Industries Limited (formerly Himalaya Granites Limited) (‘HGIL’) and consequently HGIL has become a subsidiary of the Company Capex Announcement (Dec-21) Greenfield expansion of Plywood at Tindivanam, Tamilnadu under
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 Decorative Laminates Compact Panels MFC Mikasa Floor Mikasa Door Veneer Commodity to Standard Compact Panels Melamine Faced Chip Natural Veneer Engineered Wood Engineered Wood Premium products Lab Guardian Board Teak Veneer Floor
Slide 8: Our Brands
Our Brands 7 www.greenlamindustries.com
Slide 9: Manufacturing Capabilities
Manufacturing Capabilities Products UOM Capacity Location Current Capacities Behror, Raj High Pressure Mn Sheets 21.02 Nalagarh, HP Laminate Prantij, GJ Decorative Veneer Mn SQM 4.2 Behror, Raj Engineered Wood Floor Mn SQM 1.0 Behror, Raj Engineered Doors Units 120,000 Behror, Raj Upcoming Capacitie
Slide 10: Financial Performance for last 5 years
Financial Performance for last 5 years +12% 2,026.0 +10% 232.9 +14% 128.0 1,703.4 187.0 178.3 173.3 90.6 1,280.7 1,320.6 158.5 86.7 1,199.6 77.1 73.7 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Revenue (Rs. Crs) *EBITDA (Rs. Crs) PAT (Rs. Crs) 0.60 17.2 18.2 18.0 17.3
Slide 11: Domestic Footprints
Domestic Footprints Nalagarh, Himachal Pradesh DOMESTIC 3 State of the art Manufacturing Facilities Behror, Rajasthan Prantij, 9 Company owned large Regional Distribution Centers Gujarat 20,000+ Distributors, Dealers & Retailers Manufacturing Facilities Over 5,000 Employee base Corporate Office Naid
Slide 12: International Footprints
International Footprints INTERNATIONAL Present in 100+ Countries 4 Company Operated Distribution Centers 15 International Offices 8 Overseas Subsidiaries 100+ Overseas Employees The Maps provided are for pictorial representation only Maps not to scale. All data, information, and maps are provided "a
Slide 13: Business Update
Business Update www.greenlamindustries.com
Slide 14: Business Update
Business Update ➢ The upgradation of our manufacturing facility at Prantij, Gujarat has been completed and the commercial production of the same was commenced on May 17, 2023. The capacity of Prantij, Gujarat plant has increased to 5.4 million sheets from 3.4 million sheets. ➢ With the above upgrada
Slide 15: Consolidated Financial Performance for Q4FY23
Consolidated Financial Performance for Q4FY23 ➢ During the quarter prices of most of the raw material have declined. Also, sea freight costs have seen significant softening and are now below pre-COVID levels for most of the regions ➢ In the current quarter, there was a tax reversal of Rs. 6.4 crores
Slide 16: Consolidated Financial Performance – Profit and Loss Statement
Consolidated Financial Performance Profit and Loss Statement INR Crores Q4 FY23 Q4 FY22 YoY% Q3 FY23 QoQ% FY23 FY22 YoY% Revenue 533.8 463.4 15.2% 503.5 6.0% 2,026.0 1,703.4 18.9% Raw Material 273.2 255.5 260.2 1,079.3 944.3 Gross Profit 260.6 207.9 25.4% 243.3 7.1% 946.7 759.1 24.7% Gross Margin %
Slide 17: Consolidated Financial Performance – Balance Sheet
Consolidated Financial Performance Balance Sheet INR Crores Mar-23 Mar-22 INR Crores Mar-23 Mar-22 Shareholders Fund 969.0 655.1 Non-Current Assets 1,041.9 527.0 Share Capital 12.7 12.1 Fixed Assets 894.0 473.3 Reserves & Surplus 955.9 642.3 Goodwill 3.5 3.2 Minority 0.3 0.7 Other Non-Current Assets
Slide 18: Laminates & Allied Segment
Consolidated Financial Performance Laminates & Allied Segment INR Crores Q4 FY23 Q4 FY22 YoY% Q3 FY23 QoQ% FY23 FY22 YoY% Net Revenue from Operations 491.6 423.9 16.0% 459.1 7.1% 1,852.3 1,556.3 19.0% Gross Profit 241.8 192.6 25.5% 224.4 7.7% 876.3 701.0 25.0% Gross Margin % 49.2% 45.4% 380 bps 48.9
Slide 19: Laminates & Allied Segment – Operating Metrics
Consolidated Financial Performance Laminates & Allied Segment Particulars Q4 FY23 Q4 FY22 YoY% Q3 FY23 QoQ% FY23 FY22 YoY% Annual Installed Capacity (Mn Sheets) 19.02 15.62 19.02 19.02 15.62 Production (Mn Sheets) 4.55 4.14 9.8% 4.34 5.0% 17.40 16.77 3.7% Sales (Mn Sheets) 4.67 4.00 16.8% 4.26 9.6%
Slide 20: Veneers & Allied Segment
Consolidated Financial Performance Veneers & Allied Segment INR Crores Q4 FY23 Q4 FY22 YoY% Q3 FY23 QoQ% FY23 FY22 YoY% Net Revenue from Operations 42.2 39.5 6.8% 44.4 -4.9% 173.6 147.1 18.0% Gross Profit 18.8 15.3 23.3% 19.0 -0.7% 70.4 58.1 21.2% Gross Margin % 44.6% 38.7% 590 bps 42.8% 180 bps 40.
Slide 21: Decorative Veneers
Consolidated Financial Performance Decorative Veneers Particulars Q4 FY23 Q4 FY22 YoY% Q3 FY23 QoQ% FY23 FY22 YoY% Annual Installed Capacity (Mn Sqmt) 4.20 4.20 4.20 4.20 4.20 Production (Mn Sqmt) 0.20 0.29 -31.9% 0.27 -26.5% 1.24 1.11 11.5% Sales (Mn Sqmt) 0.32 0.29 8.4% 0.23 35.1% 1.21 1.09 11.4%
Slide 22: Operating Parameters - Net Working Capital
Consolidated Financial Performance Operating Parameters - Net Working Capital Amount in Q4 FY23 Q4 FY22 Q3 FY23 FY23 FY22 INR Crores Amt Days Amt Days Amt Days Amt Days Amt Days Inventory 513.5 88 503.4 99 513.3 93 513.5 93 503.4 108 Debtors 144.3 25 130.1 25 131.9 24 144.3 26 130.1 28 Creditors 269
Slide 23: Debt Position
Consolidated Financial Performance Debt Position INR Crores FY23 FY22 Net Debt-Equity Ratio Long Term Debt * 0.32 383.6 182.9 (Including current portion) 0.26 Short Term Debt 186.2 162.3 Total Debt 569.9 345.3 Cash & Bank Balance 15.9 15.8 FY23 FY22 Liquid Investments 242.0 160.7 Net Debt 312.0 168.
Slide 24: Return Ratios – ROCE & ROE
Consolidated Financial Performance Return Ratios – ROCE & ROE INR Crores Q4FY23 Q4FY22 Q3 FY23 FY23 FY22 ROCE (Ex- Projects)* 24.0% EBIT 61.6 36.3 44.5 187.6 135.8 18.2% 15.9% PAT 46.1 25.7 28.2 128.0 90.6 Capital Employed 1,554.4 1,017.2 1,355.2 1,554.4 1,017.2 Q4FY23 Q4FY22 FY23 Capital Employed (
Slide 25: 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