Greenply Industries Ltd. share price target

CPI inflation plunged to 13-month low of 3.3% in Oct'18 led by decline in food inflation to (-) 0.9% in Oct'18 from 0.5% in Sep'18. On the other hand, core inflation went up to 6.3% in Oct'18 from 5.9% in Sep'18. Healthcare, household and personal goods along with higher prices of petroleum products drove the increase in core. With benign food prices and recent decline in international oil prices, CPI inflation is likely to remain below 4% in H2FY19. Hence, RBI is also likely to remain on hold....

ICICI Securities Ltd | Retail Equity Research Greenply Industries' (GIL) topline remained flattish YoY at | 448.3 crore on account of weak performance of the MDF division EBITDA margins contracted sharply by 500 bps YoY to 9.3% (our expectation: 12.6%) mainly on account of contraction in MDF division EBITDA margins (4.7% in Q2FY19 vs. 26.0% in Q2FY18) PAT significantly de-grew 60.8% to | 14.2 crore (our expectation: | 22.9 crore) due to sharp EBITDA margin contraction and high...

ICICI Securities Ltd | Retail Equity Research Greenply Industries' (GIL) topline grew 3.7% YoY to | 404.9 crore (our estimate: | 406.7 crore) led by the weak performance of the MDF division. MDF division revenues de-grew 30.1% YoY to | 91.1 crore (our estimate: | 116.7 crore) EBITDA margins contracted 113 bps YoY to 11.3% (our estimate: 14.0%) mainly on account of contraction in MDF division EBITDA margins by 240 bps YoY to 22.1%...

Greenply Industries Ltd ( GIL ) is an interior infrastructure company with a strong retail network of 48 branches across 300 cities in 21 states. The Company has over 12,000 dealers/ sub dealers/ distributors/ retailers. GIL accounts for 26% of the total organized plywood market in India and 30% market share in domestic Medium Density Fibreboard ( MDF )market. Company produces residential and commercial floor products like plywood and block boards, MDF and wood floors, veneers etc. It has currently 5 manufacturing plants in India, Gujarat, Andhra Pradesh, Uttar...

Net sales for FY18, grew by 0.7% to `1673crs. Plywood segment reported sales de-growth of 1.7% at `1147.94 crs. This was on the back of lower realisations (3.1%) (i.e. adverse mix); while volumes recorded a growth of 1.6%. MDF segment recorded sales de-growth of 1.1% at `471.7 crs. with volumes under pressure this year as competition took steep prices cuts and Greenply stood the on prices. Gross margin reduced by 30 bps to 46.5%. EBIDTA margin for FY18 stood at 14.7%.for...

For 4QFY2018, Greenply Industries disappointed both on the top-line as well as on the bottom-line front. Revenue de-grew by ~8.6% yoy to `437cr on an account of poor performance in Plywood segment as well as in MDF segment. On the operating front, margins contracted by 228bps due to due to lower realisations in Plywood and losses in Wallp..

EBITDA margins contracted 290 bps YoY to 13.1% (our estimate: 15.4%) due to a 300 bps contraction in the plywood division to 9.1 Net profit contracted significantly by 22.0% to | 32.6 crore (our expectation: | 39.8 crore) due to EBITDA margin contraction The board has recommended a dividend of | 0.6/ share for FY18 De-merging MDF business, Rudrapur plywood unit into Greenpanel The board has approved the de-merger of GIL's MDF business (both north plant and upcoming south plant), Rudrapur plywood unit, wood floors...

Greenply Industries Ltd ( GIL ) is an interior infrastructure company with a strong retail network of 48 branches across 300 cities in 21 states. The Company has over 12,000 dealers/ sub dealers/ distributors/ retailers. GIL accounts for 26% of the total organized plywood market in India and 30% market share in domestic Medium Density Fibreboard ( MDF )market. GIL produces residential and commercial floor products like plywood and block boards, MDF and wood floors, veneers etc....

Greenply Industries Ltd (GIL) manufactures plywood & allied products and medium density fibreboards (MDF). GIL offers a portfolio of residential and commercial products comprising plywood & block boards, MDF, wood floors, flush doors and decorative veneers. GIL offers wood floors under the brand name Green Floormax. Currently, GIL..

Plywood volumes grew strongly by 13.1% to 12.4 MSM (million square metre) (our estimate: 12.7 MSM) while MDF volumes grew 16.0% to 43790 CBM (cubic metre) (our estimate: 43639 CBM) EBITDA margins expanded robustly by 190 bps YoY to 15.7% (our estimate: 15.0%) led by expansion in MDF margins by 1360 bps YoY to 33.9% due to currency gains of | 8.2 crore at Andhra MDF facility Net profit zoomed 1.5x YoY to | 36.1 crore and was largely in-line...