Greenply Industries Ltd's Q1FY19 standalone net profit declines 22.23% yoy to Rs23.82cr : Misses Estimates

The company’s standalone revenue stood at Rs399.43cr, up 2.41% yoy.

Aug 09, 2018 02:08 IST India Infoline Research Team

Greenply Industries Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 399.43 2.4
EBITDA 47.73 [15.9]
EBITDA Margin (%) 12 [260]
Net Profit (adjusted) 23.82 [22.2]
***EBITDA margin change is bps

Greenply Industries Ltd's Q1FY19 results missed estimates. Net Revenue grew by 2.4% yoy to Rs399.43cr against Rs390.03cr in Q1FY18. EBITDA for the quarter declined by 15.9% yoy to Rs47.73cr against Rs56.73cr. EBITDA margin declined by 260bps yoy to 12%. Net profit for the quarter declined by 22.2% yoy to Rs23.82cr against Rs30.63cr last year, missing the estimate (Rs32cr).

• Plywood revenues up by 20.8% yoy to Rs306.03cr, contributing 76.6% of net sales. EBITDA margin of the segment grew to 11.3% against 10.1% in Q1FY18.
• MDF revenues down by 30.1% yoy to Rs91.14cr, contributing 22.8% to net sales. EBITDA margin of the segment declined to 22.1% against 24.5% in Q1FY18.
• Unallocated products comprising Wallpaper and solid surface contributed Rs2.26cr.

Technical View:

Greenply Industries Ltd ended at Rs. 202.50, down by 18.8 points or 8.5% from its previous closing of Rs. 221.30 on the BSE.
The scrip opened at Rs. 225.50 and touched a high and low of Rs. 226 and Rs. 197.20 respectively. A total of 5,80,586 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

Related Story