Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q3 FY2023 Earnings Presentation
32 slides from Greenply Industries's earnings presentation, Feb 13, 2023
Slide 1: Cover letter to stock exchanges
Greenply/2022-23 February 13, 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 Scrip Code: 526797 Symbol - GREENPLY
Slide 2: Analyst Presentation Q3 & 9M FY 2023
1111111111111111111111111111111 111111 Greenply Industries Limited ANALYST PRESENTATION Q3 & 9M FY 2023 13th February 2023 1
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 s
Slide 4: Contents
Contents ❖ Key Highlights ❖ Financial & Operating Performance ❖ Corporate Overview ❖ Strategic Initiatives 3
Slide 5: Key results highlights- Plywood Business (Standalone + Sandila)
Key results highlights- Plywood Business^ (Standalone + Sandila) % Change % Change Rs/Crores Q3 FY23 9M FY23 Y-o-Y Y-o-Y Revenue 405 8.7% 1,236 28.4% Adj. Core EBITDA* 42 1.6% 124 24.7% Adj. Core EBITDA % 10.3% -72 BPS 10.0% -30 BPS PAT** 50 87.4% 96 58.9% *Excluding non-cash ESOP cost Rs 4.0 crores
Slide 6: Key results highlights- Consolidated
Key results highlights- Consolidated % Change % Change Rs/Crores Q3 FY23 9M FY23 Y-o-Y Y-o-Y Revenue 428 1.7% 1,376 23.5% Adj. Core EBITDA* 37 -20.3% 133 16.3% Adj. Core EBITDA % 8.5% -236 BPS 9.7% -61 BPS PAT** 36 20.9% 80 22.2% *Excluding non-cash ESOP cost Rs 4.0 crores in Q3 FY23 and Rs 11.9 cro
Slide 7: Financial & Operating Performance
FINANCIAL & OPERATING PERFORMANCE 6
Slide 8: Consolidated P&L-Q3 FY23
Consolidated P&L-Q3 FY23 Revenue-Rs. Crores Gross Profit- Rs. Crores, Margin % 2.6% -14.5% 1.7% 250 50.0% 600 -13.5% 500 200 40.0% 38.7% 39.6% 39.1% 400 150 30.0% 300 100 196 20.0% 421 495 428 163 167 200 50 10.0% 100 0 0 0.0% Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 Q2 FY23 Q3 FY23 Adj. Core EBITDA*- Rs. Cr
Slide 9: Consolidated P&L-9M FY23
Consolidated P&L-9M FY23 Revenue-Rs. Crores Gross Profit- Rs. Crores, Margin % 20.1% 23.5% 600 50.0% 40.2% 1,500 39.1% 40.0% 400 30.0% 1,000 538 200 448 20.0% 1,376 500 1,114 10.0% - 0 0.0% 9M FY22 9M FY23 9M FY22 9M FY23 Adj. Core EBITDA*- Rs. Crores, Margin % PAT**- Rs. Crores, Margin % 16.3% 22.2
Slide 10: Consolidated Ratios
Consolidated Ratios Working Capital- Rs. Crores, days* Inventories- Rs. Crores, days* Receivables- Rs. Crores, days* 300 60 300 100 250 100 250 51 250 80 200 80 200 42 46 40 200 52 60 150 232 60 150 150 55 43 270 275 43 45 237 254 51 40 100 40 100 20 100 206 174 213 169 50 50 20 50 20 0 0 0 0 0 0 De
Slide 11: Consolidated Financial Metrics
Consolidated Financial Metrics Major expenses as % of sales Major expenses as % of sales 16.0% 14.1% 14.0% 12.8% 13.1% 14.0% 12.9% 12.0% 11.3% 12.0% 10.0% 10.0% 8.0% 8.0% 4.8% 4.5% 4.9% 6.0% 4.8% 4.7% 6.0% 3.8% 4.0% 3.3% 4.0% 3.0% 2.6% 2.3% 2.0% 2.0% 0.0% 0.0% Ad & Promotion Logistics Cost Staff Cos
Slide 12: Plywood Business P&L-Q3 FY23
Plywood Business^ (Standalone + Sandila) P&L-Q3 FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 8.7% 13.6% -7.0% -3.8% 500.0 200 50.0% 400.0 40.0% 150 300.0 37.3% 37.7% 39.0% 30.0% 200.0 436 405 100 373 139 164 158 20.0% 100.0 50 10.0% - - 0.0% Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 Q2 FY23 Q3
Slide 13: Plywood Business P&L-9M FY23
Plywood Business^ (Standalone + Sandila) P&L-9M FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 28.4% 23.8% 1,500.0 500 50.0% 1,000.0 400 40.0% 300 39.1% 30.0% 1,236 466 37.7% 500.0 963 200 376 20.0% 100 10.0% - - 0.0% 9M FY22 9M FY23 9M FY22 9M FY23 Adj. Core EBITDA*- Rs. Crores, Margin
Slide 14: Plywood Business Ratios
Plywood Business^ (Standalone + Sandila) Ratios Working Capital- Rs. Crores, days* Inventories- Rs. Crores, days* Receivables- Rs. Crores, days* 200 40 250 60 250 50 37 48 50 150 33 30 200 200 40 45 41 42 43 28 45 40 150 150 30 100 20 30 152 169 100 206 202 100 192 195 20 168 20 145 50 98 10 50 10 5
Slide 15: Plywood Business Operating Metrics Q3 FY23
Plywood Business^ (Standalone + Sandila) Operating Metrics Q3 FY23 Sales breakup- Volume-wise Sales breakup- Value-wise 100% 100% 27% 33% 29% 80% 35% 42% 37% 80% 11% 7% 8% 60% 13% 9% 60% 8% 40% 40% 63% 60% 63% 52% 50% 54% 20% 20% 0% 0% Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 Q2 FY23 Q3 FY23 Manufacturing (O
Slide 16: Plywood Business Operating Metrics 9M FY23
Plywood Business^ (Standalone + Sandila) Operating Metrics 9M FY23 Sales breakup- Volume-wise Sales breakup- Value-wise 100% 100% 34% 26% 31% 80% 41% 80% 9% 8% 60% 10% 60% 9% 40% 40% 65% 61% 56% 50% 20% 20% 0% 0% 9M FY22 9M FY23 9M FY22 9M FY23 Manufacturing (Own) Manufacturing Partners Trading Manu
Slide 17: GMEL P&L-Q3 FY23
GMEL P&L-Q3 FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % -52.2% -61.4% -61.3% -70.5% 40 60.0% 50.0% 60 30 49.8% 53.1% 50 40.0% 40.5% 40 20 30.0% 30 59 31 20.0% 48 10 24 20 10.0% 10 23 9 0 0 0.0% Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 Q2 FY23 Q3 FY23 Operating Metrics EBITDA- Rs. Crores, Marg
Slide 18: GMEL P&L-9M FY23
GMEL P&L-9M FY23 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 0.5% -7.3% 80 60.0% 200 60 51.5% 50.0% 150 47.5% 40.0% 100 40 72 72 30.0% 152 141 20.0% 50 20 10.0% 0 0 0.0% 9M FY22 9M FY23 9M FY22 9M FY23 Operating Metrics EBITDA- Rs. Crores, Margin % 36,093 37,114 -13.5% 40,000 34,565 31,65
Slide 19: Consolidated Profit & Loss Statement Q3 & 9M FY23
Consolidated Profit & Loss Statement Q3 & 9M FY23 (₹ in Lakhs) Statement of Unaudited Consolidated Financial Results for the quarter and nine months ended 31 December 2022 Corresponding Year to date Year to date Three months Previous Three Three months ended figures for the figures for the Previous
Slide 20: Standalone Profit & Loss Statement Q3 & 9M FY23
Standalone Profit & Loss Statement Q3 & 9M FY23 (₹ in Lakhs) Statement of Unaudited Standalone Financial Results for the quarter and nine months ended 31 December 2022 Year to date Corresponding Year to date figures Three months Previous Three figures for the Three months for the previous Previous y
Slide 21: Corporate Overview
CORPORATE OVERVIEW 20
Slide 22: Greenply at a glance
Greenply at a glance Listed in NSE & Wood based products - One of the largest 35+ E-0 BSE-Rs. 1,740+ Plywood and allied, Interior Years of experience India’s first Zero crores Face Veneer, MDF infrastructure in delivering quality Emission plywood Market Cap (upcoming) brands in India plywood product
Slide 23: Manufacturing Excellence
Manufacturing Excellence Plywood & allied (Own Capacity Plywood & allied (Domestic Capacity Kriparampur, West Bengal Manufacturing ) Location (Mn SqM pa) Partner) Location (Mn SqM pa) Bareilly, Uttar Pradesh ~10.00 Bamanbore, Gujarat 15.80 Hapur, Uttar Pradesh (Upcoming)* 7.50 Sandila, Lucknow (U.P.
Slide 24: Distribution network
Distribution network Presence in Cities 1147 913 241 536 196 559 184 198 906 · Our Pan India Presence · ···· ·· · 715 340 375 ··· · ··· · · FY19 FY20 FY21 FY22 Rural & Semi Urban Urban ·· ·· · ·· · · ·· ·· ······ No. of Dealers ·· 2300 2357 1811 1884 1293 1329 1269 1429 ··· · · · Branch · ·· Offices
Slide 25: Upcoming project
Upcoming project MDF Project Details Product Medium Density Fiber Board (MDF)- Exterior, Interior, HDHMR, BWR Sub- categories of Thin & thick, pre-lam and other value- Products added Location Vadodara Distt., Gujarat, India Capacity 800 CBM / day Capex Rs 595 Crore Revenue Potential Rs 600 - 650 Cro
Slide 26: Ownership & Stakeholder Value Creation
Ownership & Stakeholder Value Creation Top 10 Non-Promoter holding-31st Dec 2022 Shareholding Pattern- 31st Dec 2022 Shareholding Top 10 Non- Promoters % Mirae Asset Mutual Fund 8.8 Promoter & Promoter 11.72% Group HDFC Mutual Fund 8.6 FIIs Tata Mutual Fund 5.1 HSBC (Ex- L&T Mutual Fund) 3.1 Insuran
Slide 27: Branding & Marketing Initiatives
Branding & Marketing Initiatives Associating with Bilateral International Cricket Series In-Shop visibility ❖ Signage installation & in shop branding ❖ Ind Vs South Africa & Ind Vs Australia ❖ Reached 7 Mn people T-20 series Keeping up with Green Platinum ❖ Over 550 glow sign & acrylic boards instal
Slide 28: Branding & Marketing Initiatives-Various Events
Branding & Marketing Initiatives-Various Events Industry First – Participated in CREDIA- Aurangabad Festive Connect Hindustan Ki Shaan Awards ❖ 2000+Footfalls ❖ 700+dealers WoodCrrest Veneer Meet Green Samriddhi Virtual Meet ❖ Contractor influencer collaboration ❖ 75k audience ❖ On ground visibility
Slide 29: Branding & Marketing Initiatives- Campaigns & Initiatives
Branding & Marketing Initiatives- Campaigns & Initiatives TV Campaigns Amplifying Sustainability Efforts ❖ Brand visibility through High-Impact News Channels during elections ❖ Diwali kit made from sustainable material ❖ Reached 2.7 Mn people ❖ 1,500+dealers 28
Slide 30: Awards & Recognition- 2022
Awards & Recognition- 2022 Great Place to Work-Three times in a Best Green Manufacturing India’s Most trusted Brand- 2022 row (2020, 2021, 2022) Company- 2022 29
Slide 31: Strategic Initiatives
Strategic Initiatives Introducing Employee innovative & futuristic engagement products Automation Focus on ESG & digitization Expanding Product portfolio manufacturing expansion base at diversified locations Strategic Initiatives 30 Adopting a multi-pronged approach to leverage the emerging opportun
Slide 32: Thank You!
For further information, please contact: Gautam Jain – AVP, Strategy & Investor Relations D-1401 & 1402, Lotus Corporate Park, Jai Coach Signal, Ram Mandir Road, Goregaon (East), Mumbai- 400063 Tel: +91 33 3051 5000 / +91 9987899747 Email : gautam.jain@greenply.com Registered Office: Makum Road, P.O
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