Greenply Industries Ltd: Q1FY18 Results
DSIJ Intelligence / 02 Aug 2017
Greenply Industries Ltd reported its standalone financial results for the quarter ended June 30, 2017.
Greenply Industries Ltd reported its standalone financial results for the quarter ended June 30, 2017.
The company’s standalone revenue declined by 12.02% QoQ to Rs. 422.13 crore for the first quarter of FY2017-18. This was due to a QoQ decline of 18% in segment revenue from Plywood and Allied products from Rs.336.34 crore to Rs. 277.2 crore. The Plywood segment is said to have suffered due to extensive de-stocking by dealers.
For the quarter ended 30th June 2017, EBITDA contracted by 21.07% to Rs. 68.58 QoQ from Rs. 87 crore as on 31st March 2017. There was an contraction in EBITDA margin of 190 bps from 18.1% to 16.2%. Margins suffered on account of currency losses on long term borrowing for new MDF plant.
The company's net profit for the quarter weakened further by 26.83% QoQ to Rs. 30.63 crore.
Greenply Industries Ltd is one of the largest interior infrastructure company’s most comprehensive portfolio of residential and commercial floor products available - plywood & block boards, MDF and Wood floors under the brand names of Greenply Plywood, Green Club Ply, Ecotec, Green Panelmax, and Green Floormax.
The stock opened at Rs 271.6 and closed at Rs. 267.65 with an intra-day high of Rs. 273.10.
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