Greenply Industries Ltd - Stock Valuation and Financial Performance

BSE: 526797 | NSE: GREENPLY | Wood & Wood Products | Small Cap

Greenply Industries Share Price

230.65 0.95 0.41%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Greenply Industries

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Greenply Industries stock performance -

mw4me loader
P/E Ratio (CD):
54.12
Market Cap:
2,850 Cr.
52-wk low:
136.5
52-wk high:
280

Is Greenply Industries Ltd an attractive stock to invest in?

1. Is Greenply Industries Ltd a good quality company?

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

2. Is Greenply Industries Ltd undervalued or overvalued?

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

3. Is Greenply Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Greenply Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Greenply Industries:

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.
Greenply 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 14.4%13%17.3%13.5%2.1%9%10.1%11.6%14.5%10.8%-
Value Creation
Index
0.0-0.10.20.0-0.9-0.4-0.3-0.20.0-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,2171,5671,6461,6689121,4121,4201,1651,5631,8462,174
Sales YoY Gr.--29.3%5.1%1.3%-45.3%54.8%0.6%-18%34.1%18.1%-
Adj EPS 11.19.410.410.526.93.95.17.97.94.3
YoY Gr.--15.4%10.7%0.8%-81.1%247.5%-43.8%30.5%56.8%-0.9%-
BVPS (₹) 48.440.350.96371.627.330.835.642.850.255.5
Adj Net
Profit
13411312512824.384.347.561.997.296.553
Cash Flow from Ops. 18918719121211397.857.622891.662.2-
Debt/CF from Ops. 41.81.42.16.32.64.60.83.210.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -2%15.1%9.1%18.1%
Adj EPS -3.8%31.7%26.6%-0.9%
BVPS0.4%-6.8%17.7%17.4%
Share Price 11.9% 8.2% 11% 67.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
25.321.222.818.5313.913.315.219.916.38.1
Op. Profit
Mgn %
13.213.514.8157.810.611109.99.58.5
Net Profit
Mgn %
67.37.67.72.763.35.36.25.22.4
Debt to
Equity
1.30.70.40.60.80.80.70.40.61.1-
Working Cap
Days
9117112212930621317516312112560
Cash Conv.
Cycle
1259343697687072364412

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 26.59%

Sales growth is good in last 4 quarters at 19.35%

Return on Equity has declined versus last 3 years average to 8.10%

Sales growth has been subdued in last 3 years 9.12%

Debt to equity has increased versus last 3 years average to 1.08

Latest Financials - Greenply Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 6.7 4.3
TTM Sales (₹ Cr.) 1,730 2,174
BVPS (₹.) 56.6 55.5
Reserves (₹ Cr.) 687 675
P/BV 4.07 4.15
PE 34.45 54.12
From the Market
52 Week Low / High (₹) 136.50 / 280.00
All Time Low / High (₹) 0.56 / 401.05
Market Cap (₹ Cr.) 2,850
Equity (₹ Cr.) 12.4
Face Value (₹) 1
Industry PE 36.6

Management X-Ray of Greenply Industries:

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 Greenply Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2,2171,5671,6461,6689121,4121,4201,1651,5631,846
Operating Expenses 1,9471,3581,4071,4238461,2691,2651,0501,4131,677
Manufacturing Costs1169495108364850415158
Material Costs1,2849099208835648538356849351,127
Employee Cost 221145167177117151163149193243
Other Costs 327209225254128216216175232249
Operating Profit 27020923924566143156115150169
Operating Profit Margin (%) 12.2%13.3%14.5%14.7%7.3%10.1%11.0%9.9%9.6%9.1%
Other Income 8211414281016
Interest 6438311981921171226
Depreciation 61475051182226232636
Exceptional Items 0160000-500010
Profit Before Tax 153141170181351116181125111
Tax 35174156143213203019
Profit After Tax 118124128125218047619591
PAT Margin (%) 5.3%7.9%7.8%7.5%2.3%5.6%3.3%5.2%6.1%5.0%
Adjusted EPS (₹)9.810.210.610.29.06.53.95.07.77.4
Dividend Payout Ratio (%)6%6%6%6%7%6%10%8%6%7%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 584486614773878335378436525617
Share Capital 12121212121212121212
Reserves 572474602760865323366424512605
Minority Interest0000000000
Debt621258223394682222237157255599
Long Term Debt268127121266485805872143515
Short Term Debt3531321021281981411798511284
Trade Payables353228249208219232232204216243
Others Liabilities 263177114201504288105111156219
Total Liabilities 1,8201,1491,2001,5752,2821,0779529091,1521,678

Fixed Assets

Gross Block970726774797890363447460524662
Accumulated Depreciation271193232272309111132152172203
Net Fixed Assets699533542526580252314308353459
CWIP 1171492697701756110513
Investments 035292618222423266
Inventories424190139158231169177179226278
Trade Receivables372257333298286305357194186229
Cash Equivalents 13835783421101287331
Others Assets1951121142193632916570179161
Total Assets 1,8201,1491,2001,5752,2821,0779529091,1521,678

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 18918719121211398582289262
PBT 1531411701811641116181122131
Adjustment 1158380711054551374654
Changes in Working Capital -48-9-211-112-33-26124-44-120
Tax Paid -30-28-38-41-43-26-28-15-32-4
Cash Flow From Investing Activity -172-105-63-363-328-84-57-125-129-409
Capex -174-86-69-370-329-84-56-18-229-412
Net Investments 0-1910000-2-110953
Others 21-37101351
Cash Flow From Financing Activity -23-82-100190164-28-19-9280318
Net Proceeds from Shares 00050000013
Net Proceeds from Borrowing 27-41-3614815940-221873390
Interest Paid -62-37-30-23-49-18-18-14-11-37
Dividend Paid -7-7-7-7-7-7-5-5-5-6
Others 192-272262-4226-9122-31
Net Cash Flow -612839-50-14-191143-29
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)22.2323.2223.3118.092.5213.1413.2514.9619.7216.02
ROCE (%)17.4216.723.5819.053.0111.9413.2415.3918.7812.81
Asset Turnover Ratio2.191.111.461.280.480.841.41.251.521.3
PAT to CFO Conversion(x)1.61.511.491.75.381.231.233.740.970.68
Working Capital Days
Receivable Days357063651157685864441
Inventory Days38683530775245564750
Payable Days92117959413889871088270

Greenply Industries Ltd Stock News

Greenply Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Greenply Industries on 28-Mar-2024 16:01 is ₹230.7.
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 Greenply Industries stood at ₹2,850.
The latest P/E ratio of Greenply Industries as of 28-Mar-2024 16:01 is 34.45.
The latest P/B ratio of Greenply Industries as of 28-Mar-2024 16:01 is 4.07.
The 52-week high of Greenply Industries is ₹280.0 and the 52-week low is ₹136.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Greenply Industries is ₹1,730 ( Cr.) .

About Greenply Industries Ltd

Greenply Industries (GIL) incorporated in 1990; is engaged in manufacturing plywood.Greenply Industries Limited (GIL) is India's largest interior infrastructure company. It stands at top when it comes to plywood, decorative veneers and particle boards. It account for almost 36 percent of the organized plywood and 26 percent of the organized laminate market in India. The company manufactures plywood, laminates, decorative veneers, particle boards and prelam particle boards/MDF.

The company has a pan-India presence with 46 branches across India and presence in over 300 cities across 21 states.

Company’s laminate brand Greenlam is exported to more than 25 countries that include Thailand, Indonesia, Taiwan, Canada, Bahrain, Hong Kong, Malaysia, Singapore, Kenya, Dubai, Russia, Syria, USA, Australia, Mexico, Saudi Arabia, China and Israel.

Greenply has created brands such as Greenply Plywood, Greenlam Laminates, Green Lamieboard, Ecotec, Green Club Premium Ply and Green Decowood.

Greenlam, the flagship decorative laminate brand from Greenply is exported to more than 100 countries including Thailand, Indonesia, Taiwan, Canada, Bahrain, Hong Kong, Malaysia, Singapore, Kenya, Dubai, Russia, USA, Australia, Mexico, Saudi Arabia, China, United Kingdom and Europe.

The company owns subsidiaries namely Greenlam Asia Pacific Pte to develop market in ASEAN countries and Greenlam America Inc. for marketing and distribution of its laminate products.

Awards/ Recognition

The company has received various certifications such as OHSAS-18001, ISO-14001, ISO-9001 and CBRI Certification for its quality management.

Company received award for the best advertisement campaign in building material, real estate and other related industries at Hindware ArchiDesign Awards

GIL was awarded Abby Gold in the category of the homes, décor and leisure film.Milestones

  • Greenlam Laminates become the First Non US brand to get Greenguard certification from Greenguard Evironmental Institute (GEI) US for indoor air quality
  • 1993- Set up of the plant for the manufacturing of laminates at Behror, Rajasthan with a capacity of 12 lacs sheets per annum under the name 'Mittal Laminates Private Limited'.
  • 1995 The equity shares of our Company were listed pursuant to an offer for sale.
  • 1995 Amalgamation of the erstwhile Greenply Industries Limited with our Company with effect from April 1, 1994 pursuant to which the plywood manufacturing unit at Tizit, Nagaland was transferred to our Company. Pursuant to the amalgamation, the name of our Company was changed to 'Greenply Industries Limited'.
  • 1998 Commenced manufacture of pre-laminated particle board at our unit at Behror, Rajasthan.
  • 2002 Grant of ISO 9001 Certification for the Quality Management Systems for the Behror unit and ISO 14001 Certification for the Environmental Management Systems for the Behror unit.
  • 2003 Grant of OHSAS 18001 Certification for the 'Occupational Health and Safety Management System' for our Behror unit.
  • 2003 Commenced manufacture of decorative veneers at our unit at Behror, Rajasthan.
  • 2005 Received certificate for being a “Two-Star Export House” from the Director General, Foreign Trade, Government of India.
  • 2005 Amalgamation of Worthy Plywood Limited with our Company pursuant to which the plywood manufacturing unit at Kriparampur, West Bengal was transferred to our Company.
  • 2005-06 First company to attract FII investment in its sector.
  • 2006 Acquisition of Greenlam Asia Pacific Pte. Limited, Singapore as a wholly owned subsidiary with the object of marketing our Company’s laminates in the south east Asian markets.
  • 2006 Setting up of unit at Pantnagar, Uttarakhand for the manufacture of plywood and particle boards.
  • 2007 Acquisition of Galaxy Decor Private Limited and Platinum Veneers Private Limited as wholly owned subsidiaries which owned the plywood manufacturing facility at Bamanbore, Gujarat.
  • 2008 Received GREENGUARD Certification for our Greenlam Laminates.
  • 2008 Incorporated Greenlam America, Inc. as a wholly owned subsidiary in the state of Florida with the object of marketing our Company’s high pressure laminates in North America.
  • 2008 Green Defender (Fire Retardant Plywood) certified by the Central Building Research Institute (CBRI).
  • 2009 Amalgamation of Galaxy Decor Private Limited and Platinum Veneers Private Limited with our Company
  • 2010 Power brand Status
  • 2010 Setting up of India's largest and most technologically advanced MDF plant at Pantnagar, Uttarakhand.
  • 2010 FSC certification for Pantnagar and Kriparampur plants awarded by the prestigious Rainforest Alliance Smartwood Program.
  • 2010 ISO 9001, ISO 14001 and OHSAS 18001 certifications for Pantnagar, and Kriparampur Units.
  • 2010 Social Accountability (SA) Certificate SA8000 for our Kriparampur unit.
  • 2010 ISO 9001 certification for Rajkot Unit.
In 2010

Greenply achieved Power brand Status
Greenply set up of India's largest and most technologically advanced MDF plant at Pantnagar, Uttarakhand.
Greenply achieved FSC certification for Pantnagar and Kriparampur plants awarded by the prestigious Rainforest Alliance Smartwood Program.
Greenply achieved ISO 9001, ISO 14001 and OHSAS 18001 certifications for Pantnagar, and Kriparampur Units.
Greenply achieved Social Accountability (SA) Certificate SA8000 for our Kriparampur unit.
Greenply achieved ISO 9001 certification for Rajkot Unit.'

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