Greenply Industries posts good Q1FY17 results

Greenply Industries, India's largest interior infrastructure company has posted better than expected results in Q1FY17. Overall the total income from operation has increased by 9 per cent and stands at Rs 415.08 crores. Major reason for such a productive top line is the surge in other income. Other income for Q1FY17 has increased by 70 per cent as compared to the corresponding quarter of the previous year.

EBITDA is still strong, where it reported a EBITDA of Rs 61.98 crores, an increase of 11 per cent as compared to the Q1FY16. However, as compared to the adjacent quarter i.e. Q4FY16 it has decreased by 8 per cent.

Company has posted a strong bottom line. Net profits have increased by 26 per cent as compared to the Q1FY16. Net profits for Q1FY17 stand at Rs 34.11 crores. However, net profits of Q4FY16 were far better than the profits posted in this quarter. As compared to Q4FY16, net profits have fallen by 17 per cent, a drastic fall.

On the other hand, it would be interesting to watch the scrip's movement in July 26 trade. The scrip closed at Rs 267.55. In the last 3 months the shares have given a return of approximately 28 per cent.

Greenply Industries is engaged in the business of manufacturing and marketing of a wide range of interior infrastructure products. The company’s offering includes decorative laminates, decorative veneers, plywood and block board, medium density fiberboard and restroom cubicles. These products constitute basic interior building materials for residential and commercial space.