Q1 2025 Greenpanel Industries Ltd Earnings Call Transcript
Key Points
- MDF domestic volumes increased by 10.2% year-on-year for the quarter.
- Net working capital at 36 days has shown a sequential increase of eight days due to increase in wood inventory in preparation for the monsoon season.
- Net debt stood at INR103 crores as on June 30, 2024, but stands at negative INR111 crores excluding debt for expansion project.
- Uttarakhand MDF plant operated at 76% and AP plant operated at 74% with blended capacity utilization at 75% for the quarter.
- The company is focusing on increasing the value-added product mix, which has higher margins and insulates from competition.
- Export volumes contracted by 21% due to logistics issues.
- MDF EBITDA margins at 12.1% were impacted by a steep increase in wood prices, 5.8% sequentially and 30.9% year-on-year.
- Plywood volumes were lower both sequentially and year-on-year, with operating margins at negative 2.2%.
- Post-tax profits for the quarter were lower by 58% at INR15.7 crores compared to INR37.26 crores in Q1 FY24.
- Gross margins at 51% fell by 710 basis points year-on-year due to reduction in selling prices and increase in wood prices.
Ladies and gentlemen, good day, and welcome to the Greenpanel Industries Limited Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rishab Barar from CDR India. Thank you, and over to you, sir.
Good day, everyone, and thank you for joining us on the Greenpanel Industries Limited Q1 FY25 conference call. We have with us today Mr. Shobhan Mittal, the Managing Director; Mr. V. Venkatramani, the CFO. Before we begin, I would like to state that some statements made in today's discussion may be forward-looking in nature and may involve risks and uncertainties. A detailed statement in this regard is available in the result presentation that was sent to you earlier.
I would now like to invite Mr. Shobhan Mittal to begin the proceedings of the call. Over to you, sir.
Thank
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