Greenply Industries Q4 Review - Margins Disappointment: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Greenply Industries Ltd. has reported better than expected consolidated revenue growth of 13.1% YoY with standalone India plywood business growing at 15.3% YoY (volume growth of 7.9% YoY). Consolidated operating margin fell 154 basis points YoY to 9.9% primarily due to higher other expenses resulting in Ebitda declining by 2.1% YoY. Greenply Industries' management believes demand outlook is healthy and targets India plywood revenue growth of 15% YoY (10-11% volume growth YoY) in FY23 with ~100 bps margin improvement. Medium density fibre capacity expansion is on track and is expected to commence production from March 2023. We cut our profit after tax estimates for FY23E by ~5% due to lower operating margin guidance..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Greenply Industries Q4 Review - Margins Disappointment: ICICI Securities

Greenply Industries Q4 Review - Margins Disappointment: ICICI Securities

Choose a plan