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Last Updated on: 22 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 526797 | NSE: GREENPLY

Greenply Industries Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:07 pm

Market Cap 3,906 Cr.
Current Price 316
High / Low412/194
Stock P/E38.6
Book Value 61.0
Dividend Yield0.16 %
ROCE10.7 %
ROE8.44 %
Face Value 1.00
PEG Ratio3.61

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Greenply Industries Ltd

Competitors of Greenply Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Ecoboard Industries Ltd 46.7 Cr. 26.246.6/18.5 5.230.00 %10.8 %28.6 % 10.0
Duroply Industries Ltd 247 Cr. 250370/15185.0 1320.00 %6.08 %0.98 % 10.0
Archidply Decor Ltd 52.7 Cr. 94.7147/76.4176 91.30.00 %4.13 %0.06 % 10.0
Ambition Mica Ltd 4.42 Cr. 2.964.20/2.57 8.380.00 %7.00 %% 10.0
Rushil Decor Ltd 848 Cr. 31.445.5/28.519.2 21.80.32 %11.9 %9.86 % 1.00
Industry Average3,919.86 Cr216.6366.5861.550.09%10.45%10.68%6.40

All Competitor Stocks of Greenply Industries Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales261432421449454495428427430608582600584
Expenses248383378404414447398399404557532543531
Operating Profit13504345404830282751505753
OPM %5%11%10%10%9%10%7%7%6%8%9%10%9%
Other Income225321134-341646
Interest3332576381815910
Depreciation6677891081116151515
Profit before tax642393828332722521373834
Tax %28%24%24%25%27%28%-32%50%82%33%26%25%2%
Net Profit432302921243611114272833
EPS in Rs0.332.602.432.361.691.922.930.900.071.132.172.292.67

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales2,0472,2171,5671,6461,6689121,4121,4201,1651,5631,8462,1802,373
Expenses1,7761,9451,3551,4031,4218481,2661,2651,0501,4131,6971,9942,162
Operating Profit27227221124324764146156115150148185212
OPM %13%12%13%15%15%7%10%11%10%10%8%9%9%
Other Income541574866-48612251230
Interest6664383119819211712264352
Depreciation54604750511822262326365561
Profit before tax1571531411701811241116181125111100129
Tax %24%23%12%24%31%11%28%22%25%24%17%30%
Net Profit120118124128125111804761959170102
EPS in Rs9.939.7610.3110.6310.239.026.503.854.977.737.445.668.26
Dividend Payout %6%6%6%6%6%7%6%10%8%6%7%9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-1.67%5.08%3.23%-2.34%-11.20%-27.93%-41.25%29.79%55.74%-4.21%-23.08%
Change in YoY Net Profit Growth (%)0.00%6.75%-1.86%-5.57%-8.86%-16.73%-13.32%71.04%25.95%-59.95%-18.87%

Greenply Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:0%
5 Years:9%
3 Years:23%
TTM:30%
Compounded Profit Growth
10 Years:-7%
5 Years:-7%
3 Years:-2%
TTM:48%
Stock Price CAGR
10 Years:6%
5 Years:15%
3 Years:14%
1 Year:54%
Return on Equity
10 Years:17%
5 Years:15%
3 Years:13%
Last Year:8%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 11:38 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital12121212121212121212121212
Reserves462572474602760865323366424526632697742
Borrowings686748332270446712250279203309695549453
Other Liabilities412488331316356521302305275311341405486
Total Liabilities1,5721,8201,1491,2001,5752,1118879629151,1591,6801,6631,693
Fixed Assets665699533542526580252314308353459865848
CWIP2311714926977017561105131230
Investments00352926182224232664345
Other Assets8831,004567620754742596619578671702742771
Total Assets1,5721,8201,1491,2001,5752,1118879629151,1591,6801,6631,693

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +18418918719121211398582289262111
Cash from Investing Activity +-86-172-105-63-363-328-89-58-124-130-410-144
Cash from Financing Activity +-94-23-82-100190164-28-19-928031847
Net Cash Flow4-612839-50-19-201242-3014

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-414.00-476.00-121.00-27.00-199.00-648.00-104.00-123.00-88.00-159.00-547.00-364.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days6261607465114799261445042
Inventory Days110121765565150727796889896
Days Payable9210092998614299101109848692
Cash Conversion Cycle8082453045122526847476346
Working Capital Days646348473879506245406346
ROCE %20%18%15%24%19%10%12%21%15%18%11%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters52.25%52.25%52.31%52.29%52.32%52.32%52.32%52.14%52.12%51.97%52.00%52.01%
FIIs2.68%3.55%3.58%3.40%3.18%2.32%2.16%2.15%2.07%4.10%4.13%4.91%
DIIs29.77%31.25%31.98%33.41%32.91%32.94%32.87%32.41%32.39%29.76%30.31%30.33%
Public15.30%12.95%12.14%10.90%11.57%12.42%12.65%13.29%13.41%14.16%13.54%12.75%
No. of Shareholders42,48539,27941,38540,79643,00948,17050,07647,71049,20446,17951,37548,073

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Canara Robeco Small Cap Fund2,736,2340.8197.292,736,2342024-11-210%
SBI Contra Fund2,036,8610.1972.422,736,2342024-11-21-25.56%
Bandhan Multi Cap Fund1,000,0001.4635.562,736,2342024-11-21-63.45%
Bandhan Small Cap Fund1,000,0570.5435.562,736,2342024-11-21-63.45%
HDFC Equity Savings Fund - Regular Plan503,3370.3717.92,736,2342024-11-21-81.6%
HDFC Multi Asset Fund - Regular Plan469,6300.516.72,736,2342024-11-21-82.84%
Bandhan Hybrid Equity Fund271,2191.279.642,736,2342024-11-21-90.09%
Tata Young Citizens Fund (After 7 Years) - Regular Plan224,0002.087.962,736,2342024-11-21-91.81%
Mahindra Manulife Consumption Fund110,0001.393.912,736,2342024-11-21-95.98%
Motilal Oswal Nifty Microcap 250 Index Fund109,9240.293.912,736,2342024-11-21-95.98%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)5.677.447.724.973.85
Diluted EPS (Rs.)5.617.377.724.973.85
Cash EPS (Rs.)10.1712.109.627.045.99
Book Value[Excl.RevalReserv]/Share (Rs.)57.3352.4043.8935.6130.82
Book Value[Incl.RevalReserv]/Share (Rs.)57.3352.4043.8935.6130.82
Revenue From Operations / Share (Rs.)176.23150.20127.4495.03115.83
PBDIT / Share (Rs.)16.2215.0113.0610.0712.86
PBIT / Share (Rs.)11.8112.0410.958.1910.76
PBT / Share (Rs.)9.4010.699.986.834.99
Net Profit / Share (Rs.)5.769.137.515.163.89
NP After MI And SOA / Share (Rs.)5.667.447.724.973.85
PBDIT Margin (%)9.209.9910.2410.5911.10
PBIT Margin (%)6.708.018.598.619.28
PBT Margin (%)5.337.117.837.184.30
Net Profit Margin (%)3.266.075.895.423.36
NP After MI And SOA Margin (%)3.204.956.065.223.32
Return on Networth / Equity (%)9.8614.2017.6013.9412.50
Return on Capital Employeed (%)12.9812.4219.1819.2029.30
Return On Assets (%)4.205.438.176.654.91
Long Term Debt / Equity (X)0.550.800.260.160.15
Total Debt / Equity (X)0.731.030.540.350.62
Asset Turnover Ratio (%)1.301.301.561.201.51
Current Ratio (X)1.281.331.201.381.14
Quick Ratio (X)0.630.760.700.920.79
Inventory Turnover Ratio (X)2.822.652.822.293.17
Dividend Payout Ratio (NP) (%)8.816.715.178.0510.38
Dividend Payout Ratio (CP) (%)4.954.804.065.846.72
Earning Retention Ratio (%)91.1993.2994.8391.9589.62
Cash Earning Retention Ratio (%)95.0595.2095.9494.1693.28
Interest Coverage Ratio (X)4.637.0313.427.427.58
Interest Coverage Ratio (Post Tax) (X)2.684.918.724.805.70
Enterprise Value (Cr.)3352.422338.742923.212105.251224.43
EV / Net Operating Revenue (X)1.541.271.871.810.86
EV / EBITDA (X)16.7112.6818.2517.057.77
MarketCap / Net Operating Revenue (X)1.310.921.731.780.70
Retention Ratios (%)91.1893.2894.8291.9489.61
Price / BV (X)4.022.655.024.752.64
Price / Net Operating Revenue (X)1.310.921.731.780.70
EarningsYield0.020.050.030.020.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Greenply Industries Ltd as of November 22, 2024 is: 199.05

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 22, 2024, Greenply Industries Ltd is Overvalued by 37.01% compared to the current share price 316.00

Intrinsic Value of Greenply Industries Ltd as of November 22, 2024 is: 220.34

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 22, 2024, Greenply Industries Ltd is Overvalued by 30.27% compared to the current share price 316.00

Last 5 Year EPS CAGR: 10.69%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 16.17%, which is a positive sign.
  2. The company has higher reserves (572.69 cr) compared to borrowings (456.31 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (71.38 cr) and profit (126.46 cr) over the years.
  1. The stock has a high average Working Capital Days of 53.75, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 60.58, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Greenply Industries Ltd:
    1. Net Profit Margin: 3.26%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.98% (Industry Average ROCE: 10.45%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 9.86% (Industry Average ROE: 10.68%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.68
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.63
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 38.6 (Industry average Stock P/E: 66.58)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.73
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Greenply Industries Ltd. is a Public Limited Listed company incorporated on 28/11/1990 and has its registered office in the State of Assam, India. Company’s Corporate Identification Number(CIN) is L20211AS1990PLC003484 and registration number is 003484. Currently Company is involved in the business activities of Manufacture of ply wood and veneer sheets. Company’s Total Operating Revenue is Rs. 1376.89 Cr. and Equity Capital is Rs. 12.26 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
LaminatesMadgul Lounge, 6th Floor, 23, Chetla Central Road, Kolkata West Bengal 700027investors@greenply.com
www.greenply.com
Management
NamePosition Held
Mr. Rajesh MittalChairman & Managing Director
Mr. Manoj TulsianJoint Managing Director & CEO
Mr. Sanidhya MittalJoint Managing Director
Mr. Susil Kumar PalIndependent Director
Mr. Vinod Kumar KothariIndependent Director
Ms. Sonali Bhagwati DalalIndependent Director
Mr. Upendra Nath ChalluIndependent Director
Ms. Vinita BajoriaIndependent Director
Mr. Braja Narayan MohantyIndependent Director

FAQ

What is the latest intrinsic value of Greenply Industries Ltd?

The latest intrinsic value of Greenply Industries Ltd as on 21 November 2024 is ₹199.05, which is 37.01% lower than the current market price of ₹316.00.

What is the Market Cap of Greenply Industries Ltd?

The Market Cap of Greenply Industries Ltd is 3,906 Cr..

What is the current Stock Price of Greenply Industries Ltd as on 21 November 2024?

The current stock price of Greenply Industries Ltd as on 21 November 2024 is ₹316.

What is the High / Low of Greenply Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Greenply Industries Ltd stocks is 412/194.

What is the Stock P/E of Greenply Industries Ltd?

The Stock P/E of Greenply Industries Ltd is 38.6.

What is the Book Value of Greenply Industries Ltd?

The Book Value of Greenply Industries Ltd is 61.0.

What is the Dividend Yield of Greenply Industries Ltd?

The Dividend Yield of Greenply Industries Ltd is 0.16 %.

What is the ROCE of Greenply Industries Ltd?

The ROCE of Greenply Industries Ltd is 10.7 %.

What is the ROE of Greenply Industries Ltd?

The ROE of Greenply Industries Ltd is 8.44 %.

What is the Face Value of Greenply Industries Ltd?

The Face Value of Greenply Industries Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Greenply Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE