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Buy Greenply Industries Ltd For Target Rs.250 - Yes Securities Ltd MDF performance to improve meaningfully from hereon! Result Synopsis Greenply Industries Ltd (MTLM) reported a sub-par performance. Owing to sluggishness in demand, plywood volumes were steady at 16.3msqm, a growth of 2%YoY & decline of 4%QoQ (5-year CAGR stood at 5%), GP margins expanded to 40% Vs 36%/38% in Q1FY23/Q4FY23 respectively & EBITDA margins contracted to 8.7% Vs 9.4%/11.5% in Q1FY23/Q4FY23 respectively, on account of higher advertisement cost. ASP of plywood biz impr...
Buy Greenply Industries Ltd For Target Rs.250 - Yes Securities Ltd
Buy Greenply Industries Ltd For Target Rs.250 - Yes Securities Ltd
Source: Yes Securities
26/07/2023 12:39:59 PM
Buy Greenply Industries Ltd For Target Rs.250 - Yes Securities Ltd MDF to boost growth, retain BUY!   Result Synopsis Greenply Industries Ltd (GPIL) registered a volume growth of 6%QoQ & remained flattish YoY at 17msqm (2-year volume CAGR came in at 4%) & ASP came in at Rs246/sqm Vs Rs238/Rs249 in Q4FY22/Q3FY23 respectively. GP% for the quarter stood at 38% as compared to 38%/39% in Q4FY22/Q3FY23 respectively & EBITDA margins came in at 11% Vs 10%/10% in Q4FY22/Q3FY23 respectively. However, volumes were below growth of peers on acco...
Buy Greenply Industries Ltd For Target Rs.250 - Yes Securities Ltd
Buy Greenply Industries Ltd For Target Rs.250 - Yes Securities Ltd
Source: Yes Securities
21/06/2023 3:32:15 PM
Buy Greenply Industries Ltd For Target Rs.224- Yes securities Result Synopsis Greenply Industries Ltd (GPIL), registered a muted quarter wherein Standalone biz reported a revenue of Rs4.05Bn, a growth of 8.6%YoY & decline of 7%QoQ. Plywood volumes were flat YoY & degrew by 6%QoQ on account of sluggish demand. ASP came in at Rs249/sqm in Q3FY23 as compared to Rs235/Rs248 in Q3FY22/Q2FY23 respectively. EBITDA margins came in at 10.4% as against 11%/10.6% in Q3FY22/Q2FY23 respectively. Management reiterated their 20%YoY growth guidance for FY23 ...
Buy Greenply Industries Ltd For Target Rs.224- Yes securities
Buy Greenply Industries Ltd For Target Rs.224- Yes securities
Source: Yes Securities
23/03/2023 2:31:41 PM
Hold Greenply Industries Ltd For Target Rs.155 - ICICI Direct Challenging outlook About the stock: Greenply Industries (GIL) is one the leading players in the plywood business in India. It has a distribution network of 2,350+dealers/authorised stockists pan-India. * It is foraying into the MDF boards business with manufacturing at Vadodara, Gujarat of 800 CBM/day (capex of ~| 595 crore) with revenue potential of ~| 600-650 crore per annum, to be commissioned by May, 2023   Q3FY23 Results: GIL reported a muted performance. * T...
Hold Greenply Industries Ltd For Target Rs.155 - ICICI Direct
Hold Greenply Industries Ltd For Target Rs.155 - ICICI Direct
Source: ICICI Direct Ltd
16/02/2023 12:14:30 PM
Greenply Industries Ltd : Steady performance in plywood, Gabon to witness headwinds. Maintain BUY - Yes Securities Buy Greenply Industries Ltd For Target Rs.224  Steady performance in plywood, Gabon to witness headwinds. Maintain BUY! Result Synopsis Greenply Industries Ltd (GPL) reported better than expected numbers in Q2FY23 wherein revenue grew by 14.4%YoY & 9%QoQ, driven by volume growth of 7%YoY & 6%QoQ coupled with realization growth of 6%YoY & 2.5%QoQ. During the quarter, company commenced their Sandila facility which supported company’s volume growth. EBITDA ma...
Greenply Industries Ltd : Steady performance in plywood, Gabon to witness headwinds. Maintain BUY - Yes Securities
Greenply Industries Ltd : Steady performance in plywood, Gabon to witness headwinds. Maintain BUY - Yes Securities
Source: Yes Securities Ltd
31/12/2022 2:21:53 PM
Buy Greenply Industries Ltd For Target Rs.224 - JM Financial Institutional Securities Steady quarter; RM cost and Gabon to impact profitability Greenply Industries (Greenply) posted a beat on Revenue (7%/11% above JMFe/ Consensus) and EBITDA (16%/25% above JMFe/ Consensus) largely led by Gabon (easing of supply chain). However, this was offset by higher depreciation and interest expense (refinancing of debt in Gabon in local currency at a higher rate). Plywood volume grew 7% YoY (+6% QoQ/+4% on 3-year CAGR; 2% above JMFe) to 17msm and the management expects a similar run ra...
Buy Greenply Industries Ltd For Target Rs.224 - JM Financial Institutional Securities
Buy Greenply Industries Ltd For Target Rs.224 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
14/11/2022 12:41:43 PM
Buy Greenply Industries Ltd For Target Rs.266 - ICICI Securities Margin headwinds to persist in near-term Greenply Industries (MTLM) reported better than expected consolidated revenue growth of 14.4% YoY with standalone India plywood business growing at 14.8% YoY (3-yr CAGR of 7.7%) aided by volume growth of 6.9% YoY (3-yr CAGR of 3.9%) on a high base YoY. Consolidated operating margin declined 161bps YoY (+104bps QoQ on improved product mix) to 9.9% primarily due to higher employee cost (+117bps) resulting in EBIDTA decline of 1.6% YoY. Management was ...
Buy Greenply Industries Ltd For Target Rs.266 - ICICI Securities
Buy Greenply Industries Ltd For Target Rs.266 - ICICI Securities
Source: ICICI Securities
14/11/2022 11:27:33 AM
Hold Greenply Industries Ltd For Target Rs.195 - ICICI Direct Ltd Margins disappoint… About the stock: Greenply Industries (GIL) is one the leading players in the plywood business in India. It has a distribution network of 2,350+dealers/authorised stockists pan-India. * It is foraying into the MDF boards business with greenfield manufacturing at Vadodara, Gujarat of 800 CBM/day (capex of ~| 555 crore) with revenue potential of ~| 600-650 crore per annum, to be commissioned by Q4FY23 Q2FY23 Results: GIL reported a soft performance on margins ...
Hold Greenply Industries Ltd For Target Rs.195 - ICICI Direct Ltd
Hold Greenply Industries Ltd For Target Rs.195 - ICICI Direct Ltd
Source: ICICI Direct Ltd
11/11/2022 2:16:05 PM
Buy Greenply Industries Ltd For Target Rs.224- Yes Securities Ltd Steady growth, margins under pressure! Our view and valuation Greenply Industries Ltd (GPIL) reported a decent quarter wherein consolidated revenues increased by 74%YoY & remained flattish as compared to Q4FY22. Standalone revenue declined marginally by 5% sequentially while Gabon operations witnessed robust growth over similar period. Standalone volumes degrew by 6% & ASP expanded by 2% in Q1FY23 Vs Q4FY22 while Gabon’s volumes improved from 7,191cbm in Q4FY22 to 13,204cb...
Buy Greenply Industries Ltd For Target Rs.224- Yes Securities Ltd
Buy Greenply Industries Ltd For Target Rs.224- Yes Securities Ltd
Source: Yes Securities Ltd
10/08/2022 11:37:49 AM
Greenply Industries rises as its arm commences commercial production of plywood, allied products Greenply Industries is currently trading at Rs. 172.30, up by 0.35 points or 0.20% from its previous closing of Rs. 171.95 on the BSE. The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 173.75 and Rs. 171.20 respectively. So far 2795 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 254.25 on 08-Nov-2021 and a 52 week low of Rs. 161.10 on 24-Feb-2022. Last one week high and low of the scrip stood...
Greenply Industries rises as its arm commences commercial production of plywood, allied products
Greenply Industries rises as its arm commences commercial production of plywood, allied products
Source: Accord Fintech
24/06/2022 3:23:25 PM
Greenply Industries Q4 net profit down 1.08% at Rs 28.52 cr The company reported standalone net profit of Rs 28.52 crore for the quarter ended March 31, 2022 as compared to Rs 28.83 crore in the same period last year, registering a year-on-year decline of 1.08 per cent. Net revenue of the company rose moderately by 15.28 per cent at Rs 414.28 crore in January-March quarter of this fiscal as against Rs 359.36 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 17.92 per cent to Rs 374.24 crore from...
Greenply Industries Q4 net profit down 1.08% at Rs 28.52 cr
Greenply Industries Q4 net profit down 1.08% at Rs 28.52 cr
Source: Dion Global Solutions Ltd
16/05/2022 4:13:18 PM
Buy Greenply Industries Ltd For Target Rs.252 - Yes Securities Steady revenue growth but margins contract! Our view Greenply reported a steady quarter wherein topline grew by 24%YoY, largely driven by 11.4% volume & 7.3% realization growth over similar period. However, margins contracted from 12.3%/11.5% in Q3FY21/Q2FY22 respectively to 10.2% in Q3FY22 due to (i) increase in both timber & chemical prices, though company undertook price hikes the same was implemented with lag‐impact, (ii) change in sales‐mix wherein the contribution of own‐&...
Buy Greenply Industries Ltd For Target Rs.252 - Yes Securities
Buy Greenply Industries Ltd For Target Rs.252 - Yes Securities
Source: Yes Securities Ltd
19/02/2022 10:13:28 AM
Buy Greenply Industries Ltd For Target Rs.260 - JM Financial Services Steady quarter; capex on track Greenply 3QFY22 was a mixed bag with Plywood volume growth of 11% YoY (3% above JMFe; +4% 2yr CAGR vs +15% CAGR for Century Ply) while EBITDA margins print was 10.2% for plywood segment (-210bps YoY.-130bps QoQ) due to delay in pass through of RM cost inflation and mix (higher share of outsourced volume). Consolidated EBITDA at INR 428mn, +3% YoY/-14% QoQ and was 10% below JMFe. Consolidated PBT at INR 298mn, +8% YoY/-13% QoQ and was 7% below JMFe/5% below Co...
Buy Greenply Industries Ltd For Target Rs.260 - JM Financial Services
Buy Greenply Industries Ltd For Target Rs.260 - JM Financial Services
Source: JM Financial Services Ltd
17/02/2022 11:44:01 AM
Hold Greenply Industries Ltd For Target Rs. 215 - ICICI Direct Margins decline owing to higher input prices… About the stock: Greenply Industries (GIL) is one the leading players in the plywood business in India. It has a distribution network of 2,300+dealers/authorised stockists pan-India. * It is foraying into the MDF boards business with greenfield manufacturing set-up at Vadodara, Gujarat of 800 CBM/day (capex of ~| 555 crore) with revenue potential of ~| 600-650 crore per annum at its peak utilisation   Q3FY22 Results: G...
Hold Greenply Industries Ltd For Target Rs. 215 - ICICI Direct
Hold Greenply Industries Ltd For Target Rs. 215 - ICICI Direct
Source: ICICI Direct
16/02/2022 11:00:22 AM
Hold Greenply Industries Ltd For Target Rs.250 - ICICI Direct Strong growth on depressed base… About the stock: Greenply Industries (GIL) is one of the leading players in the plywood business in India. It has a distribution network of 2,300+dealers/authorised stockists pan-India. * It is foraying into the MDF boards business with greenfield manufacturing set-up at Vadodara, Gujarat of 800 CBM/day (capex of ~| 555 crore) with revenue potential of ~| 600-650 crore per annum at its peak utilisation   Q2FY22 Results: GIL reported a s...
Hold Greenply Industries Ltd For Target Rs.250 - ICICI Direct
Hold Greenply Industries Ltd For Target Rs.250 - ICICI Direct
Source: ICICI Direct
13/12/2021 9:03:40 AM
Add Greenply Industries Ltd For Target Rs.252 - Yes Securities New capacities to cater the growing demand! Our view Greenply Industries Ltd (GPIL) reported 46%YoY growth in topline, wherein standalone biz registered 58% YoY growth largely on account of 44%YoY volume growth & 10.4% increase in realizations over similar period. Price hikes were taken by GPIL to mitigate the rise in input cost but the same was implemented with a lag which resulted into sequential contraction of gross profit margins from 43.3% in Q1FY22 to 39.8% in Q2FY22. With fur...
Add Greenply Industries Ltd For Target Rs.252 - Yes Securities
Add Greenply Industries Ltd For Target Rs.252 - Yes Securities
Source: Yes Securities Ltd
11/11/2021 10:25:42 AM
Hold Greenply Industries Ltd For Target Rs.215 - ICICI Direct Forays into MDF with greenfield capacity… About the stock: Greenply Industries (GIL) enjoys a leadership position in the plywood business with 26% of the organised plywood market in India. It has a distribution network of 2,300+dealers/authorised stockists and a retail network exceeding 6,000 and 50+ physical and virtual branches pan-India. * It is foraying into the MDF boards business with greenfield manufacturing set-up at Vadodara, Gujarat of 800 CBM/day (capex of ~| 548 crore...
Hold Greenply Industries Ltd For Target Rs.215 - ICICI Direct
Hold Greenply Industries Ltd For Target Rs.215 - ICICI Direct
Source: ICICI Direct
15/09/2021 11:04:53 AM
Buy Greenply Industries Ltd For Target Rs. 240 - Yes Securities Our view * Greenply Industries Ltd (GIL) announced its foray into Medium Density Fiber (MDFs). Company will set‐up 800cbm/day capacity at Vadodara by incurring total capex of Rs5.48Bn. With plant expected to begin commercial operations from March’23, we reckon MDF to operate at ~50% utilization in its first year of full operations i.e FY24.   * We believe that Plywood will continue to remain company’s flagship product, which should report volume growth of 16% CAGR ...
Buy Greenply Industries Ltd For Target Rs. 240 - Yes Securities
Buy Greenply Industries Ltd For Target Rs. 240 - Yes Securities
Source: Yes Securities
6/08/2021 11:25:22 AM
Add Greenply Industries For Target Rs. 235 - ICICI Securities Gabon disappoints; balance sheet strengthens further Greenply Industries (MTLM) has reported lower-than-estimated PBT of Rs392mn (Rs430mn), up 106%/16% YoY/QoQ led by disappointing EBITDA margin at 11.5% (I-Sec: 12.7%), down 80bps QoQ. Gabon revenue (-21.5%) and EBITDA margin (7.8% vs 12.9% QoQ and 10.9% YoY) took a sharp dive in Q4FY21 led by continued issues in container availability. The silver lining was plywood growth of 16% QoQ and 20bps higher EBITDA margin QoQ at 13%. Management co...
Add Greenply Industries For Target Rs. 235 - ICICI Securities
Add Greenply Industries For Target Rs. 235 - ICICI Securities
Source: ICICI Securities
12/07/2021 11:30:00 AM
Hold Greenply Industries Ltd For Target Rs.230 - ICICI Direct Plywood recovers; logistic issues impact Gabon… Greenply Industries (GIL) reported robust growth, albeit on a benign base (~12% YoY decline in Q4FY20). The topline at | 396.7 crore was up 15.1% YoY driven by 20.9% growth in plywood revenues at | 359.4 crore. EBITDA margins expanded 279 bps YoY to 11.5%, owing to cost rationalisation and operating leverage benefits. PAT was at | 28.6 crore vs. loss in the base quarter owing to one-time exceptional hit of ~| 50 crore (reversal of exci...
Hold Greenply Industries Ltd For Target Rs.230 - ICICI Direct
Hold Greenply Industries Ltd For Target Rs.230 - ICICI Direct
Source: ICICI Direct
7/07/2021 10:42:51 AM
Buy Greenply Industries Ltd For Target Rs.245 - Yes Securities Result review: * Greenply Industries Ltd (GIL) reported sales of Rs3,967mn (15% y/y & 16.5% q/q), on account of healthy volume growth (18.9% y/y & 13.2% q/q) coupled with marginal increase in realizations (1.4% both y/y & q/q). Standalone sales stood at Rs3,583mn (20.9% y/y & 16% q/q). Gabon’s revenue increased by 23% sequentially but declined by 21.5% y/y to Rs373mn.   * Utilizations for the quarter expanded to 145% Vs 122%/128% in Q4FY20/Q3FY21 respecti...
Buy Greenply Industries Ltd For Target Rs.245 - Yes Securities
Buy Greenply Industries Ltd For Target Rs.245 - Yes Securities
Source: Yes Securities Ltd
16/06/2021 9:51:29 AM
Buy Greenply Industries Ltd For Target Rs.250 - ICICI Securities Growth returns, at an inflection point After several quarters of muted/decline in volumes, Greenply Industries (MTLM) has finally returned to growth (with a bang: high double-digit growth) – that is the insight from our conversations with multiple plywood dealers (pan-India). With the (recent) sharp improvement in working capital management (leading to strong balance sheet strengthening) and sudden recovery in secondary real estate market post Covid, we expect growth momentum to sus...
Buy Greenply Industries Ltd For Target Rs.250 - ICICI Securities
Buy Greenply Industries Ltd For Target Rs.250 - ICICI Securities
Source: ICICI Securities Ltd
17/03/2021 11:43:43 AM
Greenply Industries Ltd : Healthy beat on all aspects; long term thesis remains intact; maintain TP of Rs 177 - Yes Securities Buy Greenply Industries Ltd For Target Rs.177 Healthy beat on all aspects; long term thesis remains intact; maintain TP of Rs 177 Valuation and Outlook * Although ply volumes for Greenply at 14 msqm during Q3FY21 witnessed decline of 2.4% y/y, it was better than our estimates of 12.8 msqm (outperformance primarily in outsourced segment which grew by ~17% y/y). Further, operational margins for the company continues to inch upwards – at 12.3% during Q3FY21 (+76.5 bps y/y) and 77...
Greenply Industries Ltd : Healthy beat on all aspects; long term thesis remains intact; maintain TP of Rs 177 - Yes Securities
Greenply Industries Ltd : Healthy beat on all aspects; long term thesis remains intact; maintain TP of Rs 177 - Yes Securities
Source: Yes Securities Ltd
12/02/2021 9:41:26 AM