Greenply Q1 FY23 Results: PAT drops 28.4% To ₹20.7 Cr while Income up 0.76% to ₹455 Cr QOQ

Adjusted Core EBITDA (excluding non-cash ESOP cost of ₹3.9 crores) was ₹44.0 crores; grew by 171.7% on y-o-y basis with margins of 9.7% Net debt was at ₹349.4 crores and net debt-equity ratio was at 0.62 times

Greenply
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Greenply Industries is primarily involved in manufacturing of plywood medium density fibre boards (MDF) and trading of wallcovers and allied products. Greenply is the first company of its kind in India to introduce a lifetime guarantee in its premium plywood products Green Club and Green Club Plus Plywood.

The company has posted its Q1 FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

Greenply Q1 results 2022 reported, a consolidated Total Income of ₹455.09 crore in the quarter ended on June 30, 2022 as against ₹451.66 crore in the last quarter ended on Mar 31, 2022, increased slightly by 0.76%.

The company has posted a consolidated Net Profit of ₹20.73 crore in the quarter ended on March 31, 2022 as against ₹28.97 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 28.44%.

The status of the EPS of the company stood at ₹1.68 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹2.35, down by 28.51%.

₹*June 30, 2022 (Q1 FY23)Mar 31, 2022 (Q4FY22)
Total Income455.09451.66
Total Expenses426.17413.24
PBT /(Loss)28.3438.48
Total Tax /(credit)7.619.51
PAT /(Loss) [to the owners]20.7328.97
*figures are in Crores

(II) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹455.09 crore in the financial year ended on June 30, 2022 as against ₹262.85 crore for the same quarter ended on last year June 30, 2021 that increased by 73.13%.

Q1 results 2022 of Greenply Industries show a consolidated Net Profit of ₹20.73 crore in the financial year ended on June 30, 2022 as against ₹4.02 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 415.00%.

The status of the EPS of the company stood at ₹1.68 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹0.33, up by 409.09%.

₹*June 30, 2022 (Q1 FY23)June 30, 2021 (Q1 FY22)
Total Income455.09262.85
Total Expenses426.17257.06
PBT /(Loss)28.345.58
Total Tax /(credit)7.611.56
PAT /(Loss) [to the owners]20.734.02
*figures are in Crores

greenply plywood

(III) Key Highlights about the Performance :

greenply Cash Flow & Debt – Greenply Q1 FY23 results
  • Adjusted Core EBITDA (excluding non-cash ESOP cost of ₹3.9 crores) was ₹44.0 crores; grew by 171.7% on y-o-y basis with margins of 9.7%
  • Net debt was at ₹349.4 crores and net debt-equity ratio was at 0.62 times
  • Adjusted Core EBITDA at 9.7% in Q1 FY23, 10.6% in Q4 FY22 so, QOQ change is -88 BPS and 6.2% as on Q1 FY22 hence, YoY change is 350 BPS
  • The company has started commercial operations at its greenfield plywood manufacturing unit at district Sandila, Lucknow, U.P.
  • The company is setting up a greenfield MDF board manufacturing unit with the capacity of 800 CBM per day at district Vadodara, Gujarat. Machinery despatches and installation has started, and civil construction work is going as planned. The expected COD of the plant is Q4FY23.
Greenply q1 fy23 resullts 2022

Shares of Greenply Industries Ltd was last trading in BSE at ₹184.65 as compared to the previous close of ₹184.90. The total number of shares traded during the day was 36403 in over 883 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 186.15
  • Intraday low of ₹ 179.80

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