Q1 2025 Greenlam Industries Ltd Earnings Call Transcript
Key Points
- Greenlam Industries Ltd (BOM:538979) reported a consolidated net revenue growth of 17.4% year-on-year for Q1 FY25.
- Export business showed strong performance with a growth of 22-23%, indicating robust international demand.
- The company has been able to pass on most of the increased freight costs to customers, mitigating some impact on margins.
- New projects, including the laminate plant in Andhra Pradesh and the plywood factory in Tamil Nadu, are progressing well and are expected to improve business operations.
- The company is actively working on improving market share and value mix, which has helped maintain gross margins despite cost pressures.
- Domestic business growth was lower than expected at 11.8%, impacted by election-related disruptions and heat issues.
- Gross margin declined by 30 basis points year-on-year and 800 basis points sequentially, indicating cost pressures.
- EBITDA margin decreased by 190 basis points year-on-year and 280 basis points sequentially, reflecting higher operating costs.
- Net profit for the quarter fell to INR 19.9 crores from INR 33 crores in Q1 last year, due to higher depreciation and interest costs from new plants.
- Challenges in container availability and increased freight costs have persisted, affecting export volumes and margins.
Ladies and gentlemen, good day, and welcome to Greenlam Industries Limited Q1 FY25 earnings conference call.
This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Saurabh, Mr. Managing Director and Chief Executive Officer, Greenlam Industry Limited. Thank you, and over to you, Mr. Mittal.
Thank you. Good afternoon, friends. Welcome to our earnings call of Q1 FY25. I'm joined by Ashok, our CFO; Samarth of the finance team; and SGA, our Investor Relations adviser.
You probably have had a look on the results available on the exchange and the company's website. So I'll give a
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