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Greenlam Industries Ltd — Annual Report 2021
May 27, 2021
61622_rns_2021-05-27_68f74c06-0822-4470-95ea-4beef83e440a.pdf
Annual Report
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Greenlam/2021-22 May 27, 2021
The Manager, BSE Limited
Department of Corporate Services Floor 25, P.J. Towers, Dalal Street Mumbai - 400 001 Fax No. 022-2272-3121/1278/1557/3354 Email: [email protected]
The Manager,
National Stock Exchange of India Ltd.
Exchange Plaza, Bandra Kurla Complex, Bandra (E) Mumbai - 400 051 Fax No. 022-2659-8237/8238/8347/8348 Email: [email protected]
BSE Scrip Code: 538979
NSE Symbol: GREENLAM
SUB: Press Release for Q4 & Annual FY21 Results
Dear Sir/ Madam,
Please find enclosed the Press Release on the Audited Financial Results of the Company for the quarter and year ended March 31, 2021.
The above is for your reference and record.
Thanking You, Yours faithfully,
For GREENLAM INDUSTRIES LIMITED
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PRAKASH KUMAR BISWAL COMPANY SECRETARY & VICE PRESIDENT - LEGAL
Encl: As Above
Greenlam Industries Limited 2nd Floor, West Wing Worldmark 1, Aerocity IGI Airport Hospitality District New Delhi - 110037
T : +91-11-42791399 Email: [email protected] www.greenlamindustries.com
Registered Office : Makum Road, Tinsukia, Assam - 786125, Corporate Identity Number: L21016AS2013PLC011624
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Greenlam Industries Ltd. announces
Audited Consolidated Financial Results for Quarter and Year Ended March 31, 2021
Highlights for Quarter ended 31[st] March 2021
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Net revenues reported at Rs. 415.3, growth of 28.2% on YoY basis
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Laminate business revenues grew by 28.9% on YoY basis
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EBDITA reported at Rs. 67.1 crore, growth of 48.3% on YoY basis
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Net Profit reported at Rs. 30.9 crore, growth of 42.3% on YoY basis. This is after taking into account an exceptional loss of Rs. 12.4 crore which denotes amount paid for settling outstanding entry tax disputes with Rajasthan & Himachal Pradesh Commercial Tax Department
Highlights for Year ended 31[st] March 2021
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Net revenues reported at Rs. 1199.6 crore, de-growth of 9.2% on YoY basis
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Laminate business revenues de-grew by 5.1% on YoY basis
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EBDITA reported at Rs. 173.3 crore, de-growth of 2.8% on YoY basis
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Net Profit reported at Rs. 73.7 crore, de-growth of 15.0% on YoY basis
Financial Highlights for Q4 FY21 Results – Consolidated
| Financial Highlights forQ4 FY21 Results – Consolidated | Financial Highlights forQ4 FY21 Results – Consolidated | Financial Highlights forQ4 FY21 Results – Consolidated | Financial Highlights forQ4 FY21 Results – Consolidated | Financial Highlights forQ4 FY21 Results – Consolidated | Financial Highlights forQ4 FY21 Results – Consolidated |
|---|---|---|---|---|---|
| Earnings Highlights | |||||
| (`in Crore) | Q4FY21 | Q4FY20 | Growth %(y-o-y) | Q3FY21 | Growth %(q-o-q) |
| Net Revenue | 415.3 | 324.0 | 28.2% | 334.6 | 24.1% |
| EBDITA | 67.1 | 45.2 | 48.3% | 57.9 | 15.8% |
| Profit before Tax before Exceptional Item |
52.6 | 28.1 | 86.8% | 41.9 | 25.6% |
| Profit after Tax | 30.9 | 21.7 | 42.3% | 32.0 | -3.3% |
| Basic EPS (`)* | 12.82 | 9.00 | 13.24 |
*Not annualized
Financial Highlights for FY21 Results – Consolidated
| Financial Highlights for FY21 Results – Consolidated | Financial Highlights for FY21 Results – Consolidated | Financial Highlights for FY21 Results – Consolidated | Financial Highlights for FY21 Results – Consolidated |
|---|---|---|---|
| Earnings Highlights | |||
| (`in Crore) | |||
| FY21 | FY20 | Growth %(y-o-y) | |
| Net Revenue | 1199.6 | 1320.6 | -9.2% |
| EBDITA | 173.3 | 178.2 | -2.8% |
| Profit before Tax before Exceptional Item |
108.4 | 108.3 | 0.0% |
| Profit after Tax | 73.7 | 86.7 | -15.0% |
| Basic EPS (`) | 30.56 | 35.91 |
National, 27 May 2021: Greenlam Industries Ltd., leading manufacturers of surfacing products with its flagship brands Greenlam Laminates, NewMika Laminates, Decowood Veneers, Mikasa Floors and Mikasa Doors & Frames, today announced its audited financial results for the Quarter and year ended 31[st] March 2021.
Speaking on the financial results Mr. Saurabh Mittal, Managing Director and CEO, Greenlam Industries Ltd. said , “We have seen a strong quarter with highest laminate production and sales both in terms of value and volume. This resulted in good financial performance despite headwinds in raw material prices and supply chain constraints. We believe that the unorganized players are facing significant operational challenges in the current business environment which is giving growth opportunities to organized players like us.
Overall consolidated revenues for the quarter stood at INR 415.3 crore which is the highest achieved by us in a quarter, led by the growth of laminate business by 28.9%. The EBDITA grew by 48.3% to INR 67.1 crore and the PAT grew by 42.7% to INR 30.9 crore, after taking exceptional loss of INR 12.4 crore towards settling outstanding entry tax disputes with Rajasthan & Himachal Pradesh Commercial Tax Department. We were also able to reduce our net debt by INR 140 crore despite of a challenging year. The working capital days improved to 64 days in current quarter as compared to 94 days in corresponding quarter last year. The International business portfolio did well due to the support of favorable operating conditions in those markets. The overall wood business also saw reasonable improvement in performance.
Undoubtedly the current business environment is uncertain, but we have successfully utilized last year to work on our operating parameters, cost structure and working capital cycles, which has yielded consistent control on operating metrics and balance sheet. With the 2[nd] wave of pandemic, the business environment remains unpredictable, however, we are hopeful that the situation will continue to improve owing to the vaccination drives and safety SOPs introduced by the government.
At Greenlam, it is our constant endeavor to bring the best products to our consumers. That is why we provide Anti-bacteria property as a standard offering on our entire range of Greenlam Laminates and Greenlam Compacts from over 10 years. We continue our commitment to bring to our customers the superior quality, hygienic and germ-free products that aid them to redefine their interior spaces.”
Greenlam Industries Consolidated Results, Q4-FY’21:
For the fourth quarter ended on 31[st] March 2021, consolidated net revenues from operations witnessed a growth of 28.2%, at Rs. 415.3 crore as compared to Rs. 324.0 crore in the corresponding quarter of the previous financial year. Laminate & allied business grew by 28.9% YoY and witnessed highest production and sales both in value and volume terms. Operating Profit increased by 48.3% at Rs. 67.1 crore as compared to Rs. 45.2 crore in the corresponding quarter last year. The company’s net profit increased by 42.7% at Rs. 30.9 crore, as compared to Rs. 21.7 crore in the corresponding quarter last year.
Greenlam Industries Consolidated Results, FY’21:
For the year ended 31[st] March 2021, consolidated net revenues from operations witnessed a de-growth of 9.2%, at Rs. 1199.6 crore, as compared to Rs. 1320.6 crore in the corresponding previous financial year. This is due to COVID induced lockdown in the quarter of the financial year. International laminate revenues grew by 1.7% YoY. Operating Profit de-grew by 2.8% at Rs. 173.3 crore as compared to Rs. 178.2 crore in the corresponding previous financial year. Net profit for the year de-grew by 15.0% at Rs. 73.7 crore as compared to Rs. 86.7 crore in the previous year.
About Greenlam Industries Limited
Greenlam is among the world’s top 3, Asia’s largest and India’s No. 1 surfacing solutions brand. With its presence in over 100 countries, Greenlam has focused on developing quality products with great passion for innovation. It offers end to end surfacing solutions spread across laminates, compacts, Interior and exterior cladding, restroom cubicles & locker solutions, decorative veneers, engineered wooden floors and doors to choose from. With two state-of-the-art manufacturing facilities in the country, it is the first choice of architects, interior designers and home owners when it comes to transforming living spaces.
We work in harmony with our environment. Greenlam thinks and acts to save and preserve nature in its pristine form by ethical sourcing of its raw materials from the world over. Coupled with this, the products are FSC, PEFC, Greenguard Gold, Greenguard, Green Label, NSF certified and are Anti-bacterial, thereby ensuring they are environment friendly and safe to use. With robust team of over 14,000 distributors and dealers along with sales professionals, Greenlam is just a call away to give your spaces a new look.
For more information, please visit us at: http://www.greenlamindustries.com
Ashok Sharma Ridhima Krishan Greenlam Industries Limited Genesis BCW Ph.: + 91 11 42791399 Ph.: +91 8285243737 Email: [email protected] Email: [email protected]