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Your results on : Equity | News | Corporate-Results |
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| Greenpanel Industries |
 Share Back |
| (08:44, 31 Jul 2021) |
| Greenpanel
Industries consolidated net sales increased 241.97% to Rs 308.32 crore in Q1FY22
compared to Q1FY21. Sales of Plywood and
allied products segment has gone up 132.36% to Rs 45.33 crore (accounting for
14.70% of total sales). Sales of Medium
density fibreboards and alli segment has gone up 272.25% to Rs 262.99 crore
(accounting for 85.30% of total sales).
Operating
profit margin of the company was 22.2% compared to negative of 9.2% leading a
operating profit of Rs 68.55 crore compared to loss of Rs 8.28 crore in
Q1FY21.Raw material cost as a % of total sales (net of stock adjustments)
increased from 41.65% to 43.90%. Purchase of finished goods cost rose from 0.56% to 1.07%. Employee cost decreased from 28.80% to
8.72%. Other expenses fell from 40.35%
to 25.01%.
Other
income fell 20% to Rs 0.68 crore. PBIT
of Plywood and allied products reported profit of Rs 5.45 crore compared to
loss of Rs 3.46 crore. PBIT of Medium
density fibreboards and alli reported profit of Rs 58.24 crore compared to loss
of Rs 13.79 crore. PBIT margin of
Plywood and allied products segment rose from negative 17.76% to 12.01%. PBIT margin of Medium density fibreboards and
alli segment rose from negative 19.53% to 22.14%. Overall PBIT margin rose from 19.14% to
20.66%.
Provision
for interest fell 23.62% to Rs 10.64 crore.
Provision for depreciation rose 1.83% to Rs 17.25 crore. Provision for tax was debit of Rs 11.6 crore,
compared to credit of Rs 1.81 crore.
Effective tax rate was 28.06% compared to 4.73%. Net profit was Rs 29.74
crore compared to loss of Rs 36.49 crore.
Promoters’
stake was 53.10% as of 30 June 2021 compared to 53.10% as of 30 June 2020.
Commenting on the
performance for Q 1 FY 2022 Mr Shobhan Mittal, Managing Director and CEO,
Greenpanel Industries Limited said,
Business
was substantially impacted in this quarter due to re-emergence of Covid 19
Impact was higher in the South Zone where most of the states remained under
lockdown during May and June 2021. MDF volumes have grown by 221% year on year
and its operating margins have improved by 2859 basis points to 24.3%. Plywood
volumes grew by 124% year on year and its operating margins have increased by
2907 basis points to 11%. Gross Debt and Net Debt have reduced during the
quarter by Rs 36 crore and Rs 18 crore respectively. Net Working Capital days
has shown significant reduction of 56 days YoY to 33 days as on 30 th June
2021.
Our
emphasis on widening the distribution reach and focus on small towns and cities
is yielding results both on volumes and reduction in working capital
investment. We are optimistic on sustainable growth in future quarters
Full year results
analysis
Net
sales (including other operating income) of Greenpanel Industries has increased
16.45% to Rs 1020.76 crore. Sales of
Plywood and allied products segment has gone up 0.67% to Rs 217.38 crore
(accounting for 21.30% of total sales). Sales of Medium density fibreboards and alli segment has gone up 21.61%
to Rs 803.37 crore (accounting for 78.70% of total sales).
Operating
profit margin has jumped from 15.72% to 19.92%, leading to 47.60% rise in
operating profit to Rs 203.36 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
43.99% to 42.83%. Purchase of finished
goods cost fell from 1.17% to 1.14%.
Employee cost decreased from 11.19% to 9.83%. Other expenses fell from 28.06% to
25.77%.
Other
income rose 54.71% to Rs 3.45 crore. Profit before interest, tax and other
unallocable items (PBIT) has jumped 62.94% to Rs 177.96 crore. PBIT of Plywood and allied products segment
rose 3.35% to Rs 29.66 crore (accounting for 16.66% of total PBIT). PBIT of Medium density fibreboards and alli
segment rose 84.18% to Rs 148.31 crore (accounting for 83.34% of total
PBIT).
PBIT
margin of Plywood and allied products segment rose from 13.29% to 13.64%. PBIT margin of Medium density fibreboards and
alli segment rose from 12.19% to 18.46%.
Overall PBIT margin rose from 12.46% to 17.43%.
Provision
for interest fell 22.94% to Rs 37.21 crore.
Loan funds declined from Rs 507.83 crore as of 31 March 2020 to Rs
372.23 crore as of 31 March 2021.
Inventories declined from Rs 153.89 crore as of 31 March 2020 to Rs
149.36 crore as of 31 March 2021. Sundry
debtors were higher at Rs 77.76 crore as of 31 March 2021 compared to Rs 70.52
crore as of 31 March 2020. Cash and bank
balance rose to Rs 71.99 crore as of 31 March 2021 from Rs 11.55 crore as of 31
March 2020.
Provision
for depreciation fell 0.78% to Rs 68.63 crore.
Fixed assets declined from Rs 1,116.35 crore as of 31 March 2020 to Rs
1,077.66 crore as of 31 March 2021.
Intangible assets declined from Rs 0.44 crore to Rs 0.17 crore.
Profit
before tax grew 347.76% to Rs 100.97 crore. Provision for tax was debit of Rs
32.16 crore, compared to credit of Rs 2.75 crore. Effective tax rate was 31.85% compared to
negative 23.48%. Net profit attributable to owners of the company increased
375.86% to Rs 68.81 crore.
Promoters’
stake was 53.10% as of 31 March 2021 compared to 53.10% as of 31 March 2020
.
Cash
flow from operating activities increased to Rs 154.64 crore for year ended
March 2021 from Rs 99.81 crore for year ended March 2020. Cash flow used in acquiring fixed assets
during the year ended March 2021 stood at Rs 20.56 crore, compared to Rs 25.79
crore during the year ended March 2020.
|
Greenpanel Industries : Consolidated Results
|
|
Particulars
|
2106 (03)
|
2006 (03)
|
Var.(%)
|
2103 (12)
|
2003 (12)
|
Var.(%)
|
|
Net
Sales
|
308.32
|
90.16
|
242
|
1,020.76
|
876.57
|
16
|
|
OPM
(%)
|
22.2
|
-9.2
|
|
19.9
|
15.7
|
|
|
OP
|
68.55
|
-8.28
|
LP
|
203.36
|
137.78
|
48
|
|
Other
Inc.
|
0.68
|
0.85
|
-20
|
3.45
|
2.23
|
55
|
|
PBIDT
|
69.23
|
-7.43
|
LP
|
206.81
|
140.01
|
48
|
|
Interest
|
10.64
|
13.93
|
-24
|
37.21
|
48.29
|
-23
|
|
PBDT
|
58.59
|
-21.36
|
LP
|
169.6
|
91.72
|
85
|
|
Depreciation
|
17.25
|
16.94
|
2
|
68.63
|
69.17
|
-1
|
|
PBT
|
41.34
|
-38.3
|
LP
|
100.97
|
22.55
|
348
|
|
PBT
before EO
|
41.34
|
-38.3
|
LP
|
100.97
|
22.55
|
348
|
|
EO
Income
|
0
|
0
|
-
|
0
|
-10.84
|
-
|
|
PBT
after EO
|
41.34
|
-38.3
|
LP
|
100.97
|
11.71
|
762
|
|
Taxation
|
11.6
|
-1.81
|
PL
|
32.16
|
-2.75
|
PL
|
|
PAT
|
29.74
|
-36.49
|
LP
|
68.81
|
14.46
|
376
|
|
EPS
(Rs)*
|
#
|
#
|
|
5.6
|
1.8
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 12.26 crore, Face value of Rs 1, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
Greenpanel Industries : Consolidated Segment Results
|
|
|
% of (Total)
|
2106 (03)
|
2006 (03)
|
Var.(%)
|
% of (Total)
|
2103 (12)
|
2003 (12)
|
Var.(%)
|
|
Sales
|
|
Plywood
and allied products
|
15
|
45.33
|
19.51
|
132
|
21
|
217.38
|
215.94
|
1
|
|
Medium
density fibreboards and alli
|
85
|
262.99
|
70.65
|
272
|
79
|
803.37
|
660.63
|
22
|
|
Total
Reported Sales
|
100
|
308.32
|
90.16
|
242
|
100
|
1,020.76
|
876.57
|
16
|
|
Less:
Inter segment revenues
|
|
0
|
0
|
-
|
|
0
|
0
|
-
|
|
Net
Sales
|
|
308.32
|
90.16
|
242
|
|
1,020.76
|
876.57
|
16
|
|
PBIT
|
|
Plywood
and allied products
|
9
|
5.45
|
-3.46
|
LP
|
17
|
29.66
|
28.69
|
3
|
|
Medium
density fibreboards and alli
|
91
|
58.24
|
-13.79
|
LP
|
83
|
148.31
|
80.52
|
84
|
|
Total
PBIT
|
100
|
63.69
|
-17.26
|
LP
|
100
|
177.96
|
109.22
|
63
|
|
Less
: Interest
|
|
10.64
|
13.93
|
-24
|
|
37.21
|
48.29
|
-23
|
|
Add:
Other un-allcoable
|
|
-11.71
|
-7.11
|
65
|
|
-39.78
|
-49.22
|
-19
|
|
PBT
|
|
41.34
|
-38.3
|
LP
|
|
100.97
|
11.71
|
762
|
|
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