Greenply Industries Q4FY17: Net sales flat at Rs 446.6 crore

Way2wealth | April 18, 2013, midnight

Financials for The Quarter (Standalone)

  • Net sales for Q4FY17 was flat at Rs446.6crs. Growth was impacted mainly due to lower realisation in both the segments. Plywood sales reported a de- growth of 3.9% (on a net basis). Volume de-growth in the plywood segment was at 1.9% in Q4. MDF sales increased by 8.4% to Rs138 crs in Q4FY17. MDF segment reported volume growth of 12.7%. Wallpapers contributed ~Rs2.5 crs to topline in Q4.
  • EBITDA grew by 10.2% Y-O-Y to Rs72.7crs in Q4FY17. EBITDA margins expanded by ~160 bps Y-O-Y to 16.1%. Margin expansion was primarily due to increase in contribution of MDF to the total mix. Gross margins expanded by ~470 bps on account of improvement in yield, falling raw material prices (lower local timer costs) and better product mix. EBIDTA margins in the Plywood segment were at12.1% vs. 11.4% and margins in the MDF segment were at 27.9% vs. 28.8%.
  • EBIT stood at Rs62.8 crs in Q4FY17 recording a growth of 3.9% Y-O-Y, with margins increasing ~100 bps on a Y-O-Y basis. Segmental EBIT margins for Plywood and MDF were at9.9% (-20bps) and 24% (-200 bps) respectively.
  • Reported Profit after Tax marginally grew by 0.5% Y-O-Y to `42crs in this quarter. PAT Margin improved by 10 bps to 9.4%. Tax Rates moved up to 31% vs. 23.2 % in the corresponding quarter last year.
  • Working capital days improved to 40 days from 49 days in the corresponding quarter.Net Debt to Equity is at 0.48 in Q4FY17 as compared to 0.38 in the corresponding quarter last year.


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