Greenlam Industries Announced Q1FY23 Result : Net revenues reported at Rs. 470.6 crores, growth of 40.0% on YoY basis International and domestic revenues of laminate business grew by 91.7% and 10.0% respectively on YoY basis EBDITA reported at Rs. 50.4 crores, growth of 31.8% on YoY basis Net Profit reported at Rs. 24.6 crores, growth of 41.7% on YoY basis Speaking aboutthe results Mr. Saurabh Mittal, Managing Director and Chief ExecutiveOfficer, Greenlam Industries Ltd. said, “The first quarter of 2022-23 witnessed continued momentum with revenue growth of 1.6% sequentially. The laminate business continues to thrive with reasonable growth in both domestic and international markets and capacity utilisations at 110%. The overall volume growth for laminate business stood at 2.9% sequentially and 7.9% on YoY basis. Veneer and allied businesses also showed reasonable traction during the quarter. Despite the continued increase in raw material prices and supply chain challenges, the company maintained its margins sequentially. We continued our focus on controlling our balance sheet. However, the net working capital increased by 3 days to 77 days in Q1FY23 as compared to 74 days in Q4FY22. This was primarily on account logistics challenges in exports due to which finished goods inventory in transit for exports was higher. During the quarter we strengthened our manufacturing footprint and capacity in the laminate’s category with the acquisition of Gujarat based Bloom Dekor’s manufacturing facility. The installed capacity of the unit is 3.4 million sheets which is likely to be operationalised by Q2FY23. Further this capacity shall be upgraded to 5.4 million sheets per annum. This development reiterates the company’s vision of manufacturing world class surfacing products and a global leader in the international laminate industry. At Greenlam, we always believe in serving our customers with only the best. Our constant endeavor is to bring superior products, which are developed using the latest industry-first technology that aid them to redefine their living spaces.’’ Result PDF
Greenlam Industries declares Q4FY22 result: Net revenues reported at Rs. 463.4 crore, growth of 11.6% on YoY basis Laminate & allied business grew by 15.9% on YoY basis EBDITA reported at Rs. 49.6 crore, de-growth of 26.1% on YoY basis Net Profit reported at Rs. 25.7 crore, de-growth of 17.0% on YoY basis Net revenues reported at Rs. 1703.4 crore, growth of 42.0% on YoY basis Laminate & allied business grew by 46.1% on YoY basis EBDITA reported at Rs. 187.0 crore, growth of 7.9% on YoY basis Net Profit reported at Rs. 90.6 crore, growth of 22.9% on YoY basis. Speaking about the results Mr. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries Ltd. said, “The current quarter saw a reasonable topline growth of 11.6% with laminates business upsurging by 15.9% owing to improvement in product mix and price hike. However, growth in the current quarter was partially impacted owing to temporary restrictions at the Behror Plant on account of CAQM guidelines (Commission for Air Quality Management) in the month of January and continued logistic challenges. Due to continuous increase in the prices of raw materials and supply chain challenges, the margins remained under pressure. As on March 31, 2022, our net debt stood at Rs 169 crore and net working capital improved by 2 days to 74 days in contrast to previous quarter. In the current quarter, there was a subdivision in the face value of the equity shares of the Company. The face value of the equity shares was sub-divided from Rs 5.0 each to Re. 1.0 each and Board has recommended a dividend of Rs. 1.20 per equity share. On the CAPEX front, we are on track with the execution and expect to commence these projects within the timelines envisaged. We are determined to have a sharp focus on our business and to deliver superior quality products to our customers.” Result PDF
Diversified consumer services company Greenlam Industries declares Q3FY22 result: Due to National Capital Region air pollution issues Commission of Air Quality Management (CAQM), ordered closure of manufacturing units in the region. Due to this our Behror plant was temporarily closed for few days in December 2021 The primary reason for this was the air pollution issue in Delhi-NCR region due to which industries operating in the region were asked to shut temporarily As per the order, the plant was closed from December 10 – 16 and operated for the remaining days in December & January with restricted hours. W.e.f. Feb 04, 2022, the CAQM has allowed the plant to run on all 7 days without any restrictions These disruptions impacted sales and margin and resulted in elevated inventory levels Freight costs both inwards and outwards have stabilized and are rangebound The raw material prices have seen significant cost pressures during the year. Raw material costs are now stable and range bound Result PDF
Conference Call with Greenlam Industries Management and Analysts on FY22 Performance and Outlook. Listen to the full transcript.