Greenpanel Industries Ltd - Stock Valuation and Financial Performance

BSE: 542857 | NSE: GREENPANEL | Wood & Wood Products | Small Cap

Greenpanel Inds. Share Price

316 2.80 0.89%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Greenpanel Inds.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Greenpanel Industries stock performance -

mw4me loader
P/E Ratio (SA):
22.46
Market Cap:
3,840.7 Cr.
52-wk low:
255
52-wk high:
449.8

Is Greenpanel Industries Ltd an attractive stock to invest in?

1. Is Greenpanel Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Greenpanel Industries Ltd is a average quality company.

2. Is Greenpanel Industries Ltd undervalued or overvalued?

The key valuation ratios of Greenpanel Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Greenpanel Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Greenpanel Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Greenpanel Inds.:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Greenpanel Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -107.9%8.5%4.8%8.2%19.6%18.6%-
Value Creation
Index
-8.7-0.4-0.7-0.40.50.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 05878601,0201,6241,7831,612
Sales YoY Gr.-NA46.4%18.6%59.3%9.8%-
Adj EPS -0.502.26.21919.114
YoY Gr.-NANA186.2%206%0.6%-
BVPS (₹) 0.5056.863.180.598106.6
Adj Net
Profit
-0.136.826.676.1233234171
Cash Flow from Ops. -0.127101211360339-
Debt/CF from Ops. 021.45.52.10.80.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA27.5%9.8%
Adj EPS NANA106.5%0.6%
BVPSNA189.7%19.9%21.7%
Share Price - - 26% 21.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-107.910.83.910.426.521.413.6
Op. Profit
Mgn %
014.216.220.125.923.216.9
Net Profit
Mgn %
06.33.17.514.313.210.6
Debt to
Equity
00.90.80.60.30.2-
Working Cap
Days
086127109636063
Cash Conv.
Cycle
02632215541

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 27.52%

Net Profit is growing at healthy rate in last 3 years 106.54%

Return on Equity has declined versus last 3 years average to 13.60%

Sales growth is not so good in last 4 quarters at -10.97%

Latest Financials - Greenpanel Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 14 14.8
TTM Sales (₹ Cr.) 1,612 1,612
BVPS (₹.) 106.6 106.6
Reserves (₹ Cr.) 1,295 1,295
P/BV 2.94 2.94
PE 22.46 21.13
From the Market
52 Week Low / High (₹) 255.00 / 449.80
All Time Low / High (₹) 23.80 / 625.00
Market Cap (₹ Cr.) 3,841
Equity (₹ Cr.) 12.3
Face Value (₹) 1
Industry PE 36.1

Management X-Ray of Greenpanel Inds.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Greenpanel Inds.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales05878601,0201,6241,783
Operating Expenses 05047248151,2061,372
Manufacturing Costs091127125188239
Material Costs0249382462670746
Employee Cost 0759393123137
Other Costs 089123136225251
Operating Profit 083135205418411
Operating Profit Margin (%) -14.2%15.7%20.1%25.7%23.0%
Other Income 01323818
Interest 02448351619
Depreciation 05065646869
Exceptional Items 00-1100-24
Profit Before Tax 02213108342317
Tax 0-22-33210887
Profit After Tax 0441676233230
PAT Margin (%) -7.5%1.9%7.5%14.4%12.9%
Adjusted EPS (₹)-0.50.01.36.219.018.8
Dividend Payout Ratio (%)0%0%0%0%8%8%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 06686977739871,201
Share Capital 0012121212
Reserves 06686857619751,189
Minority Interest000000
Debt0499504372237142
Long Term Debt0454431356165127
Short Term Debt04573167215
Trade Payables082123131148111
Others Liabilities 0236173198192250
Total Liabilities 01,4851,4961,4751,5641,705

Fixed Assets

Gross Block01,3781,4081,4161,4411,468
Accumulated Depreciation0261320373431476
Net Fixed Assets01,1181,0881,0431,009992
CWIP 046405
Investments 04752525222
Inventories0131154149166153
Trade Receivables05271784144
Cash Equivalents 0181072221356
Others Assets01151167774133
Total Assets 01,4851,4961,4751,5641,705

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 027101211360339
PBT 02224108342317
Adjustment 062795728101
Changes in Working Capital 0-5346248-16
Tax Paid 0-4-6-16-58-62
Cash Flow From Investing Activity 0-117-28-77-137-254
Capex 0-105-24-19-34-86
Net Investments 0-13-5-59-106-180
Others 0122312
Cash Flow From Financing Activity 0105-82-131-180-131
Net Proceeds from Shares 000000
Net Proceeds from Borrowing 0115-80-49-203-43
Interest Paid 0-26-26-22-12-10
Dividend Paid 0000-18-18
Others 01524-6054-59
Net Cash Flow 014-9343-45
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-107.913.212.3710.3626.5121.02
ROCE (%)-107.97.284.8711.6128.7825.21
Asset Turnover Ratio00.850.620.731.121.14
PAT to CFO Conversion(x)NAN0.616.312.781.551.47
Working Capital Days
Receivable Days0302425138
Inventory Days07657513431
Payable Days060981007663

Greenpanel Industries Ltd Stock News

Greenpanel Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Greenpanel Inds. on 28-Mar-2024 16:01 is ₹316.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Greenpanel Inds. stood at ₹3,840.7.
The latest P/E ratio of Greenpanel Inds. as of 28-Mar-2024 16:01 is 22.46.
The latest P/B ratio of Greenpanel Inds. as of 28-Mar-2024 16:01 is 2.94.
The 52-week high of Greenpanel Inds. is ₹449.8 and the 52-week low is ₹255.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Greenpanel Inds. is ₹1,612 ( Cr.) .

About Greenpanel Industries Ltd

Greenpanel is India’s largest manufacturer of wood panels. Its state-of-the-art manufacturing plants in Uttarakhand and Andhra Pradesh produce Medium Density Fibre Boards (MDF), Plywood, Block Boards, Veneers, Wood Floors and Doors. It is a leader within the vast market of India in the manufacture of wood panels. The Company’s principal product is MDF. The Company is a market leader in this segment.

The Company was the erstwhile MDF division of Greenply Industries. The Company was de-merged on April 1, 2018 into an independent company that focuses largely on the manufacture, distribution and marketing of MDF.  The Company was listed (following a demerger) on the NSE and BSE on October 23, 2019.

Business area of the company

The Company is primarily involved in manufacturing of plywood, medium density fibre boards (MDF) and allied products. The Company has an overseas wholly owned subsidiary company namely Greenpanel Singapore Pte. Limited, incorporated in Singapore, is engaged into trading of Medium Density Fibreboards and allied products.

Product offerings

Medium Density Fibreboard: Engineered wood manufactured with hardwood fibres, bonded together under high pressure and temperature (up to 240 degrees Celsius) with synthetic resin and wax. Greenpanel’s MDF is respected for a high uniform density, making it strong, durable and eco-friendly.

Greenpanel wood floors: Customised around Indian conditions. Protects against dust, scratches and extreme climatic changes.

Greenpanel plywood: Customised around a range of applications. Manufactured on new-age equipment. Strict adherence to quality control. Helped create new benchmarks in India’s organised plywood segment.

Greenpanel veneers: Offer an exclusive range of unique and exotic designs. Suitable for use in interiors (including high humidity applications).

Greenpanel doors: Possess high dimensional accuracy and stability (ideal for conditions of varying humidity). Customised and available with a decorative veneered surface in horizontal or vertical grains.

Milestones

  • 2010: Launched Green Panelmax.
  • 2010: Commenced production at the most modern MDF plant in India at Pantnagar, Uttarakhand.
  • 2014: Launched Green Floormax Wood Floors.
  • 2015: Commissioned an export office in Singapore.
  • 2016: Commissioned a second MDF plant at Srikalahasti, Andhra Pradesh.
  • 2018: Commenced production at Asia’s largest MDF plant in Andhra Pradesh.
  • 2019: De-merged from Greenply to become Greenpanel Industries Limited.
  • 2019: Listed on NSE and BSE as a separate company.
  • 2020: Gets board’s approval for capital expenditure projects at MDF plants.
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