{"id":38036,"date":"2023-03-15T11:39:38","date_gmt":"2023-03-15T06:09:38","guid":{"rendered":"https:\/\/plyinsight.com\/?p=38036"},"modified":"2023-04-07T10:48:32","modified_gmt":"2023-04-07T05:18:32","slug":"plywood-business-revenues-grew-by-8-7-in-q3fy23-onyoy-basis","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/plywood-business-revenues-grew-by-8-7-in-q3fy23-onyoy-basis\/","title":{"rendered":"Plywood Business Revenues grew by 8.7% in Q3FY23 onYOY basis"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><div class=\"vc_row wpb_row\"><div class=\"wpb_column column_container col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"color: #000000;\">Greenply Industries Limited, India&#8217;s leading manufacturer of Plywood and allied products announced its financial results for the quarter and nine-monthended December 31, 2022. Below are the key financial highlights for the same:<\/span><\/p>\n<p><span style=\"color: #800000;\"><strong>Plywood Business \u2013 Q3 Fy23<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Revenue at Rs 405.4 crores, grew by 8.7% on y-o-y basis<\/span><\/li>\n<li><span style=\"color: #000000;\">Adjusted Core EBITDA (excluding non-cash ESOP cost of Rs 4.0 crores) was Rs 41.6 crores; grewby 1.6% on y-o-y basis with margin of 10.3%<\/span><\/li>\n<li><span style=\"color: #000000;\">Profit after tax (PAT) was at Rs 49.7crores(including exceptional gains of Rs 9.6 crores and tax refunds pertaining to earlier years of Rs 18.4 crores in Q3FY23)<\/span><\/li>\n<li><span style=\"color: #000000;\">Sales volume was 16.0 MSM; a growth of 2.4% on y-o-y basis<\/span><\/li>\n<\/ul>\n<p><strong><span style=\"color: #800000;\">Plywood Business \u2013 9M Fy23<\/span><\/strong><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Revenue at Rs 1,236.1 crores, grew by 28.4% on y-o-y basis<\/span><\/li>\n<li><span style=\"color: #000000;\">Adjusted Core EBITDA (excluding non-cash ESOP cost of Rs 11.9 crores) was Rs 123.9 crores; grew by 24.7% on y-o-y basis with margin of 10.0%<\/span><\/li>\n<li><span style=\"color: #000000;\">Profit after tax (PAT) was at Rs 95.8 crores (including exceptional gains of Rs 9.6 crores and tax refunds pertaining to earlier years of Rs 18.4 crores in Q3FY23)<\/span><\/li>\n<li><span style=\"color: #000000;\">Sales volume was 49.2 MSM; a growth of 21.7% on y-o-y basis<\/span><\/li>\n<\/ul>\n<p><strong><span style=\"color: #800000;\">Consolidated \u2013 Q3 Fy23<\/span><\/strong><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Revenue at Rs 428.2 crores, grew by 1.7% on y-o-y basis<\/span><\/li>\n<li><span style=\"color: #000000;\">Adjusted Core EBITDA (excluding non-cash ESOP cost of Rs 4.0 crores) was Rs 36.5 crores; declined by 20.3% on y-o-y basis with margin of 8.5%<\/span><\/li>\n<li><span style=\"color: #000000;\">Profit after tax (PAT) was at Rs 36.0 crores(including exceptional gains of Rs 9.6 crores and tax refunds pertaining to earlier years of Rs 18.4 crores in Q3FY23)<\/span><\/li>\n<\/ul>\n<p><strong><span style=\"color: #800000;\">Consolidated \u2013 9MFY23<\/span><\/strong><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Revenue at Rs 1,376.5 crores, grew by 23.5% on y-o-y basis<\/span><\/li>\n<li><span style=\"color: #000000;\">Adjusted Core EBITDA (excluding non-cash ESOP cost of Rs 11.9 crores) was Rs 133.4 crores; grew by 16.3% on y-o-y basis with margin of 9.7%<\/span><\/li>\n<li><span style=\"color: #000000;\">Profit after tax (PAT) was at Rs 80.4crores(including exceptional gains of Rs 9.6 crores and tax refunds pertaining to earlier years of Rs 18.4 crores in Q3FY23)<\/span><\/li>\n<li><span style=\"color: #000000;\">Net debt was at Rs 555.7 crores and net debt-equity ratio was at 0.89times<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">Commenting on the performance for Q3 FY23, <em><strong>Mr. Manoj Tulsian, JMD &amp; CEO, Greenply Industries Ltd. said <\/strong><\/em><em>\u201cThe quarter posed difficulties due to the extended holiday season and sluggish demand.On the raw material front, we have seen some relief as chemical prices have come down from the peak, while the cost of timber remains on the high side.The outlook looks favourable with respite in demand from December 2022 onwards.<\/em><\/span><\/p>\n<p><span style=\"color: #000000;\"><em>Our MDF unit at Vadodara, Gujarat is advancing well and we are working tirelessly to start trial run in this quarter. The unit will help us tap into the under-serviced western market and benefit the company with improved product diversification. Team building for this segment is nearly done and we aredeveloping measures to establishrobust marketing and distribution strategies. We believe our ongoing strategic efforts and resilience to remain focused on our goals will unfold greater growth opportunities in the long-term.\u201d<\/em><\/span><\/p>\n<p><span style=\"color: #800000;\"><strong>About Greenply:<\/strong><\/span><br \/>\n<span style=\"color: #000000;\">Greenply Industries Limited (GIL), having leadership position in plywood industry with four state\u2013of-the-art manufacturing facilities spread across the country. The Company provides world class interior products for the domestic and global markets including Plywood, Block board, Flush doors, Decorative Veneers and PVC products.<\/span><\/p>\n<p><span style=\"color: #000000;\">The company has widespread presence in over 1100 cities, towns, and villages across 27 states and 6 union territories, serviced through a well-entrenched distribution network of more than 2,300 dealers and authorised stockists, a retail network exceeding 6,000 and more than 50 physical and virtual branches pan-India.<\/span><\/p>\n<p><span style=\"color: #000000;\">We pushed the bar of our innovation to pioneer India&#8217;s first-of-its-kind E-Zero plywood range in FY21. The Zero emission products are aimed at safeguarding the indoor air quality. Greenply has been conferred with Great Place to Work third year in a row (2020, 2021, 2022) for its contribution on building High-Trust and High-Performance Culture in the organization.<\/span><\/p>\n<hr \/>\n<p><span style=\"color: #000000;\"><a href=\"https:\/\/plyinsight.com\/hi\/placement-wanted\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-34611\" src=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Wanted-300x63.jpg\" alt=\"\" width=\"986\" height=\"207\" srcset=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Wanted-300x63.jpg 300w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Wanted-768x162.jpg 768w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Wanted-18x4.jpg 18w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Wanted-600x127.jpg 600w, https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/12\/Placement-Wanted.jpg 1433w\" sizes=\"auto, (max-width: 986px) 100vw, 986px\" \/><\/a><\/span><\/p>\n<hr \/>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row\"><div class=\"wpb_column column_container col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_raw_code wpb_raw_html wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<html>\n<head>\n<\/head>\n<body>\n  <marquee behavior=\"scrolling\" direction=\"left\" scrollamount=\"3\" seamless>\n    <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/10\/Logos-2.png\" width=\"800\" height=\"600\" alt=\"Natural\" \/>\n <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/plyinsight.com\/wp-content\/uploads\/2022\/10\/Logos-2.png\" width=\"800\" height=\"600\" alt=\"Natural\" \/>\n  <\/marquee>\n<\/body>\n<\/html>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"Greenply Industries Limited, India's leading manufacturer of Plywood and allied products announced its financial results for the quarter and nine-monthended December 31, 2022. Below are the key financial highlights for the same: Plywood Business \u2013 Q3 Fy23 Revenue at Rs 405.4 crores, grew by 8.7% on y-o-y basis Adjusted Core EBITDA (excluding non-cash ESOP cost [...]","protected":false},"author":1,"featured_media":38037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4119],"tags":[166,3263,4251,4250,2000,4246,4247,4249,4245,4248],"class_list":["post-38036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-march-news-2023","tag-greenply","tag-greenply-industries","tag-greenply-industries-ltd","tag-manoj-tulsian-greneply","tag-plywood-business","tag-plywood-business-benefit","tag-plywood-business-earnings","tag-plywood-business-income","tag-plywood-business-revenue","tag-plywood-business-turnover"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Plywood Business Revenues grew by 8.7% in Q3FY23 onYOY basis - 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