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Greenply Industries FY22 revenues rises by 34% yoy and PAT grew by 56% yoy

The company is setting up a greenfield plywood manufacturing unit with the capacity of 13.5 million Sqm p.a. at district Sandila, Lucknow, U.P.

May 17, 2022 9:16 IST | India Infoline News Service
Greenply Industries Limited, India’s leading manufacturer of Plywood and allied products has announced its financial results for the quarter and year ended March 31, 2022. Below are the key financial highlights:

Consolidated – FY22
  • Revenue is at Rs1,562.8 crore; a growth of 34.1% yoy
  • Adjusted Core EBITDA (excluding non-cash ESOP cost of Rs12.1 crores) stood at Rs162.3 crore; a growth of 38.5% yoy and the EBITDA margins were at 10.4%
  • Profit after tax (PAT) is at Rs94.7 crore a growth of 55.5% yoy
  • Net debt stood was at Rs219.3 crore and Net debt-equity ratio was at 0.4 times
Consolidated – Q4FY22
  • Revenue is at Rs448.6 crore; a growth of 13.1% yoy
  • Adjusted Core EBITDA (excluding non-cash ESOP cost of Rs3.0 crore) was at Rs47.6 crore; a growth of 3.5% yoy with EBITDA margins at 10.6%
  • Profit after tax (PAT) was Rs29.0 crore; a growth of 1.2% yoy
Upcoming Project Status Updates
  • The company is setting up a greenfield plywood manufacturing unit with the capacity of 13.5 Mn Sqm p.a. at district Sandila, Lucknow, U.P. The financial closure for the project and the construction activity is now complete. Commercial operation is expected to start shortly.
  • The company is setting up a greenfield MDF board manufacturing unit with the capacity of 800 CBM per day near Vadodara, Gujarat. The financial closure for the project is completed. Civil construction work for the project is in full swing. First phase of machinery despatches has started. The expected COD of the plant is likely to be in the fourth quarter of FY23.
Commenting on the performance for Q4 FY22, Manoj Tulsian, JMD & CEO, Greenply Industries Ltd. said, “We have seen an improving demand scenario in FY22 and accordingly have achieved a strong financial performance in FY22. While the increasing raw material prices and raw material availability continues to constrain the growth trajectory, a renewed demand in the real estate industry is likely to support the performance going forward.

Overall, we expect strong growth led by continued momentum in real estate, increased home and office renovation activities and a shift of consumer preference towards branded products. We are excited to join hands as an associate sponsor partner of ‘Lucknow Super Giants’, a new IPL franchise.

We believe that this association will strengthen the brand recall value. Further, our Zero-emission products has achieved the milestone of reaching to over one million homes.”

On Tuesday early trade, Greenply Industries was trading at Rs184.10 per share higher by 0.57% on the BSE.

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