Greenply Industries Ltd · NSE:GREENPLY
Greenply Industries — Q4 & 12M FY2022 Earnings Presentation
37 slides from Greenply Industries's earnings presentation, May 16, 2022
Slide 1: Cover letter to stock exchanges
Greenply/2022-23 May 16, 2022 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 - GREEN PLY Dear
Slide 2: Analyst Presentation Q4 & 12M FY 2022
Greenply Industries Limited ANALYST PRESENTATION Q4 & 12M FY 2022 16th May 2022 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 04 Key Highlights 05 Financial & Operating Performance 23 Industry Overview 26 Corporate Overview 35 Outlook 3
Slide 5: Key results highlights - Consolidated
Key results highlights- Consolidated Q4 FY22 - YoY basis 12M FY22 - YoY basis ❖ Revenue Rs. 448.6 crores 13.1% ❖ Revenue Rs. 1,562.8 crores 34.1% ❖ Adj. Core EBITDA* Rs. 47.6 crores 3.5% ❖ Adj. Core EBITDA* Rs. 162.3 crores 38.5% ❖ Adj. Core EBITDA margin* 10.6% 97 bps ❖ Adj. Core EBITDA margin* 10.
Slide 6: Financial & Operating Performance
FINANCIAL & OPERATING PERFORMANCE 5
Slide 7: Consolidated P&L - Q4 FY22
Consolidated P&L-Q4 FY22 Revenue-Rs. Crores Gross Profit- Rs. Crores, Margin % 600.0 13.0% 13.1% 9.9% 6.5% 448.6 200.0 179.2 50.0% 500.0 421.1 158.5 163.1 396.7 40.0% 400.0 150.0 40.0% 40.0% 38.7% 300.0 30.0% 100.0 200.0 20.0% 100.0 50.0 10.0% 0.0 0.0 0.0% Q4 FY21 Q3 FY22 Q4 FY22 Q4 FY21 Q3 FY22 Q4
Slide 8: Consolidated P&L - 12M FY22
Consolidated P&L-12M FY22 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 34.1% 30.4% 1562.8 800.0 50.0% 1500.0 41.3% 40.2% 40.0% 1165.3 600.0 627.5 1000.0 481.3 30.0% 400.0 20.0% 500.0 200.0 10.0% 0.0 0.0 0.0% 12M FY21 12M FY22 12M FY21 12M FY22 Adj. Core EBITDA*- Rs. Crores, Margin % PAT- R
Slide 9: Consolidated Ratios
Consolidated Ratios Working Capital- Rs. Crores, days* Inventories- Rs. Crores, days* Receivables- Rs. Crores, days* 250.0 60 250.0 225.6 100 250.0 100 168.8 206.4 195.7 50 193.9 186.4 200.0 169.4 200.0 179.2 80 200.0 174.2 80 53 46 42 40 150.0 150.0 56 51 53 60 150.0 61 60 30 100.0 100.0 40 100.0 4
Slide 10: Consolidated Financial Metrics
Consolidated Financial Metrics Q4 FY22 - YoY basis Major expenses as % of sales Sales breakup*- Rs. Crores 12.0% 11.1% 11.3% 11.2% 500.0 414.3 10.0% 400.0 359.4 373.0 8.0% 5.2% 300.0 6.0% 4.7% 4.8% 4.6% 200.0 4.0% 2.6% 2.3% 2.0% 100.0 37.3 48.0 34.3 0.0% 0.0 Q4 FY21 Q3 FY22 Q4 FY22 Q4 FY21 Q3 FY22 Q
Slide 11: Standalone P&L - Q4 FY22
Standalone P&L-Q4 FY22 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 15.3% 11.1% 11.1% 500.0 414.3 200.0 12.9% 50.0% 359.4 373.0 157.0 400.0 141.3 139.1 40.0% 150.0 300.0 39.3% 100.0 37.3% 37.9% 30.0% 200.0 20.0% 100.0 50.0 10.0% 0.0 0.0 0.0% Q4 FY21 Q3 FY22 Q4 FY22 Q4 FY21 Q3 FY22 Q4 FY22
Slide 12: Standalone P&L - 12M FY22
Standalone P&L-12M FY22 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 35.6% 30.4% 1376.9 600.0 533.3 50.0% 1500.0 500.0 409.0 40.0% 1015.4 38.7% 1000.0 400.0 40.3% 30.0% 300.0 20.0% 500.0 200.0 100.0 10.0% 0.0 0.0 0.0% 12M FY21 12M FY22 12M FY21 12M FY22 Adj. Core EBITDA*- Rs. Crores, Margi
Slide 13: Standalone Ratios
Standalone Ratios Working Capital- Rs. Crores, days* Inventories- Rs. Crores, days* Receivables- Rs. Crores, days* 120.0 110.3 40 200.0 60 200.0 70 98.2 167.6 172.4 163.3 94.3 34 35 47 158.9 60 100.0 48 50 59 145.0 29 30 150.0 46 150.0 80.0 131.4 40 50 28 25 42 40 60.0 20 100.0 30 100.0 41 30 40.0 1
Slide 14: Standalone Financial & Operating Metrics Q4 FY22
Standalone Financial & Operating Metrics Q4 FY22 Sales breakup- Volume-wise Sales breakup- Value-wise 120% 120% 100% 100% 80% 37% 35% 38% 80% 29% 27% 30% 5% 11% 10% 60% 6% 13% 13% 60% 40% 40% 66% 57% 52% 49% 62% 60% 20% 20% 0% 0% Q4 FY21 Q3 FY22 Q4 FY22 Q4 FY21 Q3 FY22 Q4 FY22 Manufacturing (Own) Ma
Slide 15: Standalone Financial & Operating Metrics 12M FY22
Standalone Financial & Operating Metrics 12M FY22 Sales breakup- Volume-wise Sales breakup- Value-wise 120% 120% 100% 100% 80% 38% 35% 80% 29% 27% 2% 9% 60% 3% 11% 60% 40% 40% 69% 59% 64% 54% 20% 20% 0% 0% 12M FY21 12M FY22 12M FY21 12M FY22 Manufacturing (Own) Manufacturing Partners Trading Manufac
Slide 16: GMEL P&L - Q4 FY22
GMEL P&L-Q4 FY22 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % -8.2% 28.8% -28.6% -7.3% 48.0 30.0 64.7% 70.0% 50.0 23.9 60.0% 22.2 37.3 25.0 40.0 34.3 Operating Metrics 17.2 50.0% 20.0 49.8% 30.0 12,000 46.1% 40.0% 11,156 11,063 15.0 20.0 30.0% 9,288 9,863 10.0 20.0% 10.0 10,000 8,995 5.0 1
Slide 17: GMEL P&L - 12M FY22
GMEL P&L-12M FY22 Revenue- Rs. Crores Gross Profit- Rs. Crores, Margin % 30.4% 24.0% 100.0 94.2 60.0% 200.0 185.9 Operating Metrics 80.0 72.3 50.7% 50.0% 150.0 150.0 48.2% 40.0% 50,000 45,955 60.0 30.0% 100.0 41,757 40.0 20.0% 40,000 38,282 50.0 20.0 10.0% 33,285 0.0 0.0 0.0% 12M FY21 12M FY22 30,00
Slide 18: Historical Financials - Consolidated
Historical Financials-Consolidated Revenue-Rs Crores Adj. Core EBITDA*-Rs Crores, Margin % PAT-Rs Crores, Margin % 180.0 155.6 16.0% 100.0 94.7 7.0% 1,562.8 162.3 1,412.2 1,420.4 160.0 144.0 79.7 6.0% 140.0 80.0 5.6% 60.9 6.1% 1,165.3 117.2 12.0% 5.0% 120.0 12.4% 13.4% 5.2% 60.0 47.3 4.0% 100.0 10.1
Slide 19: Historical Financials - Consolidated
Historical Financials-Consolidated Net Working Capital (Days) Inventory (Days) 56 78 53 44 46 63 53 46 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 Receivables (Days) Payables (Days) 92 64 60 60 79 51 61 44 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 18
Slide 20: Consolidated Profit & Loss Statement Q4 & 12M FY22
Consolidated Profit & Loss Statement Q4 & 12M FY22 (₹ in Lakhs) Statement of Consolidated Financial Results for the Three Months and Year ended 31 March 2022 Corresponding Previous Three Three months Three months ended Year ended Year ended months ended Sr. ended 31.03.2022 31.03.2021 in the 31.03.2
Slide 21: Consolidated Balance Sheet 31st March 2022
Consolidated Balance Sheet 31st March 2022 (₹ in Lakhs) Statement of Assets and Liabilities Consolidated Sr. Particulars 31.03.2022 31.03.2021 (Audited) (Audited) A. ASSETS 1. Non-current assets (a) Property, plant and equipment 30,855.64 27,923.48 (b) Capital work-in-progress 10,962.98 624.35 (c) R
Slide 22: Standalone Profit & Loss Statement Q4 & 12M FY22
Standalone Profit & Loss Statement Q4 & 12M FY22 (₹ in Lakhs) Statement of Standalone Financial Results for the Three Months and Year ended 31 March 2022 Corresponding Three months Previous Three Three months Year ended Year ended ended months ended ended 31.03.2021 Sr. 31.03.2022 31.03.2021 Particu
Slide 23: Standalone Balance Sheet 31st March 2022
Standalone Balance Sheet 31st March 2022 (₹ in Lakhs) Statement of Assets and Liabilities Standalone Sr. Particulars 31.03.2022 31.03.2021 (Audited) (Audited) A. ASSETS 1. Non-current assets (a) Property, plant and equipment 16,564.25 16,207.95 (b) Capital work-in-progress 140.11 462.46 (c) Right of
Slide 24: Industry Overview
INDUSTRY OVERVIEW 23
Slide 25: Indian wood panel industry
Indian wood panel industry Overview Indian Plywood Industry Market Size ~ Rs. 39,000 Crores Commodity to brand Local & Product Centric Pan India Organised Experience Organised Players ~ Rs. 9,000 Service Players Crores 23% Brand Laminates 1)-Better Price Commodity 2)-Customer 25% 58% Plywood 1)-High
Slide 26: Indian MDF industry overview
Indian MDF industry overview Indian MDF Industry Size (in CBM mn p.a.) Products Categories CAGR 15% ❖ High Density Fibreboard (HDF) ❖ Fire resistance (FR) Grade 3.5 2.9 3.0 2.6 ❖ High Density High Moisture Resistance (HDHMR) ❖ Interior 2.3 2.5 1.7 2.0 ❖ Exterior ❖ Boiled Water Resistant (BWR) 2.0 1.
Slide 27: Corporate Overview
CORPORATE OVERVIEW 26
Slide 28: Greenply at a glance
Greenply at a glance Wood based products - Listed in NSE & Plywood and allied, One of the largest 30+ E-0 BSE-Rs. 2200+ Face Veneer, MDF Interior Years of experience India’s first Zero crores (upcoming) infrastructure in delivering quality Emission plywood Market Cap Share in organised brands in Ind
Slide 29: Manufacturing Excellence
Manufacturing Excellence Plywood & allied Capacity Domestic Partner (Plywood & Capacity (Mn SqM pa) Kriparampur, West Bengal allied) (Mn SqM pa) Kriparampur, West 11.00 Bareilly, Uttar Pradesh ~10.00 Bengal Hapur, Uttar Pradesh (Upcoming) 7.50 Tizit, Nagaland 8.10 Upcoming Plywood Capacity Bamanbore
Slide 30: 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 1269 1429 ··· · · 1293 1329 ··· 55 Branch Offices
Slide 31: Upcoming projects
Upcoming projects MDF Project Details Plywood Project Details Product Medium Density Fiber Board (MDF)-Exterior, Product Plywood and allied products Interior, HDHMR, BWR Sub- categories of Products Thin & thick, pre-lam and other value-added Location Sandila Industrial Area in Hardoi, Uttar Pradesh.
Slide 32: Ownership & Stakeholder Value Creation
Ownership & Stakeholder Value Creation Top 10 Non-Promoter holding-31st Mar 2022 Shareholding Pattern- 31st Mar 2022 Shareholding Top 10 Non- Promoters % Mirae Asset Mutual Fund 7.5 12.14% HDFC Mutual Fund 7.4 Tata Mutual Fund 5.0 L&T Mutual Fund 4.5 31.98% 52.31% Kotak Mutual Fund 2.8 SBI Mutual Fu
Slide 33: Branding & Marketing Initiatives
Branding & Marketing Initiatives Greenply joins hands with Lucknow Super Giants Greenply joins hands with the first ever franchise Lucknow Super Giants from Uttar Pradesh, as Associate Sponsor Partner. Players and official members of Lucknow Super Giants to sport the Greenply logo on the right-hand
Slide 34: Branding & Marketing Initiatives
Branding & Marketing Initiatives 1 million celebration The E-0 campaign got relaunched and taken to newer heights across touchpoints Reached 1 million homes that became the nucleus of the campaign in 2022 The 360-degree campaign entailed a mass media outreach via TV, Radio, OOH and digital media Med
Slide 35: Branding & Marketing Initiatives
Branding & Marketing Initiatives 6 High Passenger Traffic Airports, 3 Mn New “ACE” Dealer ACE TV Campaigns Build TOM Awareness for Mother Outdoor campaigns brand and E0 Value Proposition 12 High Visibility Sites in 2 Cities Reach Club Program Launch monthly reach & visibility Contractor Shop Meets T
Slide 36: Strategic Outlook
Strategic Outlook Introducing Employee innovative & futuristic engagement products Automation Focus on ESG & digitization Expanding Rural manufacturing penetration base at diversified locations Strategic Outlook 35 Adopting a multi-pronged approach to leverage the emerging opportunity in the new nor
Slide 37: 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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