Greenply Inds

The company is a consistent performer and for Q1FY17, it has done pretty well. Its net sales rose 9% (YoY) at Rs.415 crore. In this, plywood revenues rose 8%, contributing 70.7% of net sales. The other vertical – MDF showed a 11% rise in revenue, contributing 28.8% to net sales and the new product, wallpaper is still at a nascent stage and contributed just Rs.2 crore. EBITDA was up 15% at Rs.64 crore and margins expanded by 80 bps to 15.5%.

The company ended the current Q1 with a net profit at Rs.34 crore, up 26%. EPS was at Rs.2.83 v/s Rs. 2.24 in Q1FY16 (after adjusting Q1 FY16 EPS for stock split in Q4 of FY16). Its total dent stands at Rs.223 crore.

In FY17, the company expects a growth of 6-8% and margins are expected to improve by 50-70 bps, driven by better product mix and cost control.