Greenply Industries Ltd. Q3FY12 Results Release Net Sales up by 32% at Rs. 418 crores Net Profit up by 96% at Rs. 14 crores
Editors Synopsis For the Quarter : - Net sales up by 32.09% to Rs 418.10 crores vs. Rs. 316.54 crores (y-o-y) - Net Profit up by 95.97% to Rs 14.09 crores vs. Rs. 7.19 crores (y-o-y) - EBIDTA (excluding currency gains / losses and other income) up by 78.18% to Rs 48.89 crores vs. Rs 27.44 crores (y-o-y)
Tweet-- Greenply Industries Ltd., leader in plywood and laminate industry in India, today reported net sales of Rs. 418.10 crores for the quarter ended December 31, 2011, registering a growth of 32.09% as against Rs. 316.54 crores posted in the same period of the last fiscal.
Net Profit for the quarter stood at Rs. 14.09 crores, as compared to Rs. 7.19 crores posted in the corresponding quarter of last fiscal. This was primarily due to improved performance in the MDF segment and overall improvement in realisations and product-mix in all the business segments.
Operating Profit (EBIDTA excluding Other Income and currency losses) for the quarter was up by 78.18% at Rs 48.89 crores as compared to Rs 27.44 crores earned in Q3FY11.
EBIDTA margin (excluding foreign currency gains) increased by 302 basis points to 11.69% compared to 8.67% in the corresponding quarter of the previous year
Net Profit margin for Q3FY12 stood at 3.37% compared to 2.27% in the corresponding quarter of the previous year. The improvement in net profit margin was in spite of currency losses of Rs 6.11 crores compared to currency gains of Rs 0.39 crores in the corresponding quarter of the previous year
Earnings per share (diluted) for Q3FY12 stood at Rs. 5.84, as compared to Rs. 2.98 in Q3FY11
Reflecting on the quarter, Mr. Saurabh Mittal, Joint Managing Director & CEO, Greenply Industries Limited said, "The quarterly results reflect the improvement in the MDF business segment and we expect better results in future on achieving optimum utilisations and superior value-mix in the new MDF and Laminate plants".
Notes to Editor
About Greenply Industries Ltd.:
Greenply Industries Limited (GIL) is India's largest interior infrastructure company with a turnover of 1420 crores consolidated. The company is engaged in the manufacture of decorative laminate, plywood, decorative veneers and MDF (medium density fiberboard).
The company has seven state of the art manufacturing facilities across the country manufacturing products of global standards.
The company has 38 branches across the country and a strong channel network of over 13000 dealers, distributors, sub-dealers and retailers. Greenlam (the laminate brand) is available in over70 countries with more than 300 distributors and dealers. It has a strong brand presence in US, Europe, Singapore, Thailand, Malaysia, and UAE amongst others.