The net sales during the quarterhave increased by 13.5% (consolidated) & 6.5% (standalone) Y-o-Y to Rs. 348.2 crore (consolidated) & 304.2 crore (standalone).
FINANCIAL HIGHLIGHTS OF Q1 FY 20
• Consolidated PAT has increased by 81.7% to Rs.21 crore & standalone PAT has increased by 61.5% to Rs.15.7 crore in Q1 FY 20 compared to Y-o-Y quarter
The Board of Directors of Greenply Industries Limited met on Wednesday, 14th August 2019 to consider the unaudited financial results of the company for the quarter ended 30th June 2019.
Greenply Industries Limited, India’s largest interior infrastructure company, has reported a consolidated profit after tax (“PAT”) of Rs.21 crore during the quarter ended June 30, 2019 as compared to Rs.11.6 crore during the corresponding quarter of last year. The standalone PAT is at Rs.15.7 crore during the first three months of this financial year as compared to Rs 9.7 crore in the corresponding period of last year. Total consolidated income for the quarter ended June 30, 2019 is at Rs 349.9 crore as against Rs 309.8 crore recorded during the quarter ended June 30, 2018. The net sales during the quarterhave increased by 13.5% (consolidated) & 6.5% (standalone) Y-o-Y to Rs. 348.2 crore (consolidated) & 304.2 crore (standalone). The earnings before interest, tax, depreciation and amortisation (EBITDA) has increased by 94.2% (consolidated) & 44.6% (standalone) percent Y-o-Y to Rs. 41.6 crore (consolidated) & 33.7 crore (standalone).
Rajesh Mittal, Chairman and Managing Director, Greenply Industries Limited, said that “Greenply Industries account for 26% of the organised plywood market and we are expecting shift from unorganized market to organized market in the coming years after strict implementation of the E-way bill system. The policy reform – housing for all and affordable housing has been a growth driver for us. Our strong customer relationships, far-reaching distribution network, expertise, experience and ability to innovate helped us in consolidating our leadership position in the sector.”
Sanidhya Mittal, Joint Managing Director of Greenply Industries Limited, said that “Consumers preference shift for branded plywood, inclusion of GST and E-Way Bill implementationhas accelerated the growth of organised plywood sector generating markets for niche value-addedproductsdeveloped through constant innovation”
The organised plywood industry in India is pegged at Rs. 4,500 crore and Greenply Industries has a market share of 26 percent in the organized sector. The industry is growing at a CAGR of 5-6% percent backed by surge in demand of interior infrastructure. Steady growth of Indian real estate coupled with increased disposable income of the consumers and high lifestyle aspirations will contribute to the growth of the industry.