Greenply Ind Q2FY10 Net Sales up by 5% at Rs 218 cr
PAT flat at Rs 11.43 cr
Editors Synopsis
- Net sales for Q2 FY10 grew by 5 % to Rs 218 crore
- Net Profit for Q2 FY10 flat at Rs 11.43 crore
- EPS for Q2 FY10 works out to Rs 6.73
- Net sales for H1FY10 up by 4% to Rs 395 crore
- Net profit for H1FY10 up by 22% to Rs 22.36 crore
- EPS for H1FY10 works out to Rs 13.16, up 22 %
Greenply Industries Ltd., leader in plywood and laminate industry in India, today reported net sales of Rs 218 crore for the quarter ended September 30, 2009 as compared to Rs. 207 crore posted in the corresponding quarter of last fiscal, registered an increase of 5%.
Net Profit for the quarter was flat at Rs 11.43 crore as compared to Rs 11.44 crore posted in the corresponding quarter of last fiscal. Earnings per share (EPS) for the quarter stood flat at Rs. 6.73 same in the corresponding quarter of last fiscal.
The operating margin for the quarter stood at 12.49%, as against 12.82% in the corresponding quarter of last fiscal, registered a decrease of 33 bps.
Net sales for the H1FY10 stood at Rs 395 crore, as compared to Rs 378 crore in the corresponding year of last fiscal, registered an increase of 4%. Net profit for H1 FY10 stood at Rs. 22.36 crore as compared to Rs 18.40 crore posted in the corresponding quarter of last fiscal, grown by 22%.
EPS for H1 FY10 stood at Rs. 13.16 as compared to Rs. 10.83 in H1 FY09.
The operating margin for H1 FY10 stood at 7.5% as compared to 4.19% in H! FY09, registered an increase of 331 bps
Major Developments:
- Laminate Plants has been commissioned in June 2009. The company has started one press line out of a total of three press lines at its Laminate green field project at Nalagarh, Himachal Pradesh on 11th June, 2009, three months ahead of schedule
- Greenply has started branch office in Rotterdam, The Netherlands to market its laminate in European Countries
- The company has issued and allotted on rights basis 50,99,234 equity shares of Rs. 5/- each at a premium of Rs. 85/- per equity share for an amount aggregating to Rs. 4,589.31 lacs and 20,39,694 Detachable Warrants. Accordingly the paid-up equity share capital of the Company has been increased from Rs. 849.87 lacs to Rs. 1104.83 lacs
- Company has declared payment of final dividend of Rs 1.50/- per share on equity share of Rs 5/- each for the year ended March 31, 2009 to its shareholders
Reflecting on the quarter, Mr. Saurabh Mittal, Joint Managing Director & CEO, Greenply Industries Limited said, “Our plans for our new laminates unit at Nalagarh is on schedule and we are happy to announce that one of the presses have started commercial production”.
He further added, “The MDF manufacturing line at IIE, Pantnagar, Uttarakhand is nearing completion and the consignment of machineries has arrived at the site and are in the process of being erected.”
About Greenply Industries Ltd.:
Greenply Industries Limited (GIL) is a Rs 877-crore professionally managed Interior Infrastructure Company, primarily engaged in the manufacture of plywood and other value added products used in interior infrastructure such as laminates and medium density fibre (MDF). The company has five plants across the country and also caters to overseas markets.
The company has more than 32 branches across the country with a strong network of over 15000 dealers, distributors, sub-dealers and retailers. Greenply exports its laminate products to US, UK, France, Italy, Australia, Malaysia, Singapore, Taiwan, UAE, Russia, Israel, and New Zealand amongst others.