Sharekhan's research report on Greenpanel Industries
Greenpanel reported a healthy beat on consolidated revenues and operating margins for Q1FY2023. Consolidated revenues/operating profits/net profits were up 50.5%/91.9%/160.9% y-o-y. The management lowered volume growth guidance for MDF to 10-11% for FY2023 from 15-18% y-o-y while it trimmed down MDF OPM estimate at 26-27% for balance fiscal year from 33.3% in Q1FY2023 anticipating rise in chemical prices. The company announced 231,000cbm brownfield MDF capacity expansion at Andhra Pradesh at a capex outlay of Rs. 600 crores. The unit is expected to commence production from Q2FY2025.
Outlook
We retain a Buy on Greenpanel Industries Limited (Greenpanel) with a revised PT of Rs. 620, lowering our valuation multiple to factor in near term cost inflation and capacity addition headwinds.
More Info
At 11:22 hrs Greenpanel Industries Limited was quoting at Rs 442.40, down Rs 12.65, or 2.78 percent.
It has touched an intraday high of Rs 455.15 and an intraday low of Rs 437.60.
It was trading with volumes of 31,597 shares, compared to its thirty day average of 23,254 shares, an increase of 35.88 percent.
In the previous trading session, the share closed down 3.08 percent or Rs 14.45 at Rs 455.05.
The share touched its 52-week high Rs 625.00 and 52-week low Rs 222.00 on 29 April, 2022 and 24 August, 2021, respectively.
Currently, it is trading 29.22 percent below its 52-week high and 99.28 percent above its 52-week low.
Market capitalisation stands at Rs 5,425.04 crore. For all recommendations report, click here
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