Financials Greenlam Industries Limited Bombay S.E.

Equities

GREENLAM

INE544R01021

Forest & Wood Products

Market Closed - Bombay S.E. 06:00:49 2024-04-26 am EDT 5-day change 1st Jan Change
605.9 INR +2.44% Intraday chart for Greenlam Industries Limited +5.28% +13.22%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 22,880 11,998 22,623 43,862 38,091 77,316 - -
Enterprise Value (EV) 1 25,090 11,998 22,623 45,542 41,200 86,907 85,453 83,277
P/E ratio 29.7 x 13.8 x 30.7 x 48.3 x 29.2 x 57.3 x 44.1 x 29.6 x
Yield 0.32% 0.8% 0.53% 0.33% 0.5% 0.21% 0.24% 0.3%
Capitalization / Revenue 1.79 x 0.91 x 1.89 x 2.57 x 1.88 x 3.34 x 2.64 x 2.19 x
EV / Revenue 1.96 x 0.91 x 1.89 x 2.67 x 2.03 x 3.75 x 2.92 x 2.36 x
EV / EBITDA 15.8 x 6.73 x 13.1 x 24.4 x 17.7 x 29.5 x 22.1 x 16.7 x
EV / FCF 897 x 9.29 x 13.9 x -285 x -13.9 x -25.4 x 138 x 35.6 x
FCF Yield 0.11% 10.8% 7.21% -0.35% -7.21% -3.94% 0.72% 2.81%
Price to Book 5.34 x 2.4 x 3.94 x 6.7 x 3.93 x 7.08 x 6.22 x 5.27 x
Nbr of stocks (in thousands) 120,682 120,682 120,682 120,682 126,993 127,574 - -
Reference price 2 189.6 99.42 187.5 363.4 300.0 606.0 606.0 606.0
Announcement Date 5/30/19 6/19/20 5/27/21 5/30/22 5/27/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 12,807 13,206 11,996 17,034 20,260 23,155 29,250 35,293
EBITDA 1 1,585 1,782 1,733 1,870 2,329 2,944 3,865 4,999
EBIT 1 1,217 1,258 1,177 1,285 1,696 2,110 2,673 3,622
Operating Margin 9.5% 9.52% 9.81% 7.54% 8.37% 9.11% 9.14% 10.26%
Earnings before Tax (EBT) 1 1,063 1,083 959.6 1,191 1,641 1,822 2,244 3,346
Net income 1 771.1 866.7 737.6 907.3 1,284 1,348 1,751 2,597
Net margin 6.02% 6.56% 6.15% 5.33% 6.34% 5.82% 5.99% 7.36%
EPS 2 6.390 7.182 6.112 7.520 10.27 10.57 13.74 20.51
Free Cash Flow 1 27.96 1,292 1,631 -159.6 -2,971 -3,424 617.8 2,342
FCF margin 0.22% 9.79% 13.6% -0.94% -14.67% -14.79% 2.11% 6.64%
FCF Conversion (EBITDA) 1.76% 72.5% 94.13% - - - 15.99% 46.85%
FCF Conversion (Net income) 3.63% 149.1% 221.15% - - - 35.28% 90.2%
Dividend per Share 2 0.6000 0.8000 1.000 1.200 1.500 1.300 1.450 1.825
Announcement Date 5/30/19 6/19/20 5/27/21 5/30/22 5/27/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 6,385 4,497 3,346 4,153 3,361 4,542 4,497 4,634 4,706 5,180 9,886 5,035 5,338 5,152 5,558 5,949 6,279
EBITDA 1 784 483.3 579 670.6 382 459 533.5 495.6 503.5 536.9 1,040 547.8 740.6 643.5 722 761.5 814.4
EBIT - - - 530 - 314.5 380.4 350.3 356.1 382.5 - - 572.1 - - 520 522
Operating Margin - - - 12.76% - 6.92% 8.46% 7.56% 7.57% 7.38% - - 10.72% - - 8.74% 8.31%
Earnings before Tax (EBT) 434.6 139.3 418.6 401.7 - 276.7 359.6 330.1 327.4 377.4 - - 551.7 - 437 446 420
Net income 1 358.8 108.6 319.5 309.5 - 207 269.5 255.6 246.9 292.4 - 283.3 461.6 329.1 360.2 375.2 337.6
Net margin 5.62% 2.42% 9.55% 7.45% - 4.56% 5.99% 5.52% 5.25% 5.64% - 5.63% 8.65% 6.39% 6.48% 6.31% 5.38%
EPS - - - - - 1.722 2.234 2.120 2.050 2.330 - - 3.390 - - 2.600 2.600
Dividend per Share - - - - - - - - - - - - - - - - -
Announcement Date 11/7/19 11/2/20 2/2/21 5/27/21 7/27/21 10/26/21 2/8/22 5/30/22 7/26/22 11/12/22 11/12/22 2/2/23 5/27/23 7/27/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,210 - - 1,681 3,109 9,591 8,137 5,961
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.394 x - - 0.8986 x 1.335 x 3.258 x 2.105 x 1.193 x
Free Cash Flow 1 28 1,292 1,631 -160 -2,971 -3,424 618 2,342
ROE (net income / shareholders' equity) 19.7% 18.7% 13.7% 14.8% 15.8% 13% 15.2% 19%
ROA (Net income/ Total Assets) 8.82% - - - - - - -
Assets 1 8,743 - - - - - - -
Book Value Per Share 2 35.50 41.50 47.50 54.20 76.30 85.60 97.50 115.0
Cash Flow per Share 2 - - - - - 17.20 23.60 30.20
Capex 1 574 568 499 871 4,723 5,324 1,813 965
Capex / Sales 4.48% 4.3% 4.16% 5.11% 23.31% 22.99% 6.2% 2.73%
Announcement Date 5/30/19 6/19/20 5/27/21 5/30/22 5/27/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
606 INR
Average target price
592.7 INR
Spread / Average Target
-2.20%
Consensus
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