Greenpanel Industries Ltd Stock Analysis

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

BSE Share Price 23-Sep-2022 18:01
428.25 -2.90 (-0.67%)

DeciZen - Make an Informed Decision on Greenpanel Inds.

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Greenpanel Inds. Price Chart

P/E Ratio (SA) :
18.69
Market Cap :
5,251.5 Cr.
52-wk low :
301.1
52-wk high :
625
Bole Toh?

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 Somewhat overvalued 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'22TTM
ROCE % -107.9%8.5%4.8%8.2%19.6%-
Value Creation Index -9.0-0.4-0.7-0.40.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 05878601,0201,6241,780
YoY Gr. Rt. %-NA46.4%18.6%59.3%-
Adj EPS -0.502.26.21922.9
YoY Gr. Rt. %-NANA186.2%206%-
BVPS (₹) 0.5056.863.180.586.7
Adj Net Profit -0.136.826.676.1233281
Cash Flow from Ops. -0.127101211360-
Debt/CF from Ops. 021.45.52.10.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA40.4%59.3%
Adj EPS NANANA206%
BVPS 00027.6
Share Price - - - 35.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % -107.910.83.910.426.527.4
Op. Profit Mgn % 014.216.220.125.927
Net Profit Mgn % 06.33.17.514.315.8
Debt to Equity 00.90.80.60.3-
Working Cap Days 086127109630
Cash Conv. Cycle 026322150

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 27.40%

Sales growth is growing at healthy rate in last 3 years 40.37%

Debt to equity has declined versus last 3 years average to 0.29

Sales growth is good in last 4 quarters at 48.40%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Greenpanel Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 22.9 23.5
TTM Sales (₹ Cr.) 1,780 1,781
BVPS (₹.) 86.7 83.9
Reserves (₹ Cr.) 1,051 1,017
P/BV 4.94 5.10
PE 18.69 18.21
From the Market
52 Week Low / High (₹) 301.05 / 625.00
All Time Low / High (₹) 23.80 / 625.00
Market Cap (₹ Cr.) 5,252
Equity (₹ Cr.) 12.3
Face Value (₹) 1
Industry PE 28.5

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 (%)

News

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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