11 November, 2019:The Board of Directors of Greenply Industries Limited met on Friday, 8th November 2019 to consider the unaudited financial results of the company for the quarter ended 30th September 2019.
Greenply Industries Limited, India’s largest interior infrastructure company, has reported a consolidated profit after tax (“PAT”) of Rs.26.4 crore during the quarter ended September 30, 2019 as compared to Rs.17.5 crore during the corresponding quarter of last year. The standalone PAT is at Rs.22.9 crore during Q2FY 2020 as compared to Rs 18.0 crore in the corresponding period of last year. Total consolidated income for the quarter ended September 30, 2019 is at Rs 380.4 crore as against Rs 363.5 crore recorded during the quarter ended September 30, 2018.The net sales during the quarterhave increased by 5.8% (consolidated) &2.3% (standalone) Y-o-Y to Rs. 378.9 cr (consolidated) & 344.1 cr (standalone). The earnings before interest, tax, depreciation and amortisation (EBITDA) has increased by 22.1% (consolidated) &8.7% (standalone) percent Y-o-Y to Rs. 45.0 cr (consolidated) & 39.1 cr (standalone).
Mr. Rajesh Mittal, Chairman and Managing Director, Greenply Industries Limited, said that, “E-way bill and GST implementation is also becoming strict wherein we are seeing unorganised players raise prices and reduce the price disparity. Also, our expansion in Gabon for face veneer business is shaping up well and we look forwardto a better performance in the coming years.”
Mr. Sanidhya Mittal, Joint Managing Director, Greenply Industries Limited, said that, “Our performance in this quarter has been healthy. Volume and sales growth has been stable and accompanied by margin expansion. We are beginning to witness the fruit of an intensive three-pronged focus on brand building, strengthening of distribution and efficiency enhancement.”