Greenpanel Industries Ltd., incorporated in the year 2017, is a Small Cap company (having a market cap of Rs 2945.51 Crore) operating in Building Materials sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 390.79 Crore, up 23.15 % from last quarter Total Income of Rs 317.33 Crore and up 63.68 % from last year same quarter Total Income of Rs 238.75 Crore. Company reported net profit after tax of Rs 56.46 Crore in latest quarter.
Investment Rationale
Despite ongoing brownfield capacity expansion (due to be commissioned by Sep/Oct’21), the management has also guided for substantial net debt reduction of Rs2.25bn over FY22E-FY23E, which is likely to leapfrog its RoCEs to ~25% by FY23E. This the brokerage believes would offer further scope for rerating the stock going forward.
Promoter/FII Holdings
Promoters held 53.1 per cent stake in the company as of March 31, 2021, while FIIs held 5.6 per cent, DIIs 17.6 per cent and public and other 23.7 per cent.
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