Greenpanel Industries Ltd Q1FY22 consolidated net profit drops QoQ to Rs. 29.74 crores

Greenpanel Industries Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY2021-22) - QoQ Comparison

The company has reported total income of Rs.309 crores during the period ended June 30, 2021 as compared to Rs.390.79 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.29.74 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.56.45 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.2.43 for the period ended June 30, 2021 as compared to Rs.4.60 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY2020-21	% Change
Total Income	₹ 309 crs	₹ 390.79 crs	-20.93%
Net Profit	₹ 29.74 crs	₹ 56.45 crs	-47.32%
EPS	₹ 2.43	₹ 4.60	-47.17%

Financial Results (Q1 FY2021-22) - YoY Comparison

The company has reported total income of Rs.309 crores during the period ended June 30, 2021 as compared to Rs.91 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.29.74 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(36.49) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.2.43 for the period ended June 30, 2021 as compared to Rs.(2.98) for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 309 crs	₹ 91 crs	239.56%
Net Profit	₹ 29.74 crs	₹ (36.49) crs	181.5%
EPS	₹ 2.43	₹ (2.98)	181.54%

Commenting on the performance for Q1 FY2022, Mr. Shobhan Mittal, Managing Director and CEO, Greenpanel Industries Limited said, Business was substantially impacted in this quarter due to re-emergence of Covid 19. Impact was higher in the South Zone where most of the states remained under lockdown during May and June 2021. MDF volumes have grown by 221% year-on-year and its operating margins have improved by 2859 basis points to 24.3%. Plywood volumes grew by 124% year-on-year and its operating margins have increased by 2907 basis points to 11.0%. Gross Debt and Net Debt have reduced during the quarter by Rs 36 crores and Rs 18 crores respectively. Net Working Capital days has shown significant reduction of 56 days y-o-y to 33 days as on 30th June 2021.

Our emphasis on widening the distribution reach and focus on small towns and cities is yielding results both on volumes and reduction in working capital investment. We are optimistic on sustainable growth in future quarters.

Source : Equity Bulls

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