Greenply Industries Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 1047.85 Crore) operating in Building Materials sector.
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Promoters held 52 per cent stake in the company as of June 30, 2020, while FIIs held 11.2 per cent, DIIs 22.6 per cent and public and others 14.2 per cent.
ICICI Securities has given a buy rating to Greenply Industries with a target price of Rs 135. The share price moved up by 3.44 per cent from its previous close of Rs 84.40. The stock’s last traded price is Rs 87.30.
Greenply Industries Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 1047.85 Crore) operating in Building Materials sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 132.71 Crore, down 61.50 % from last quarter Sales of Rs 344.70 Crore and down 62.02 % from last year same quarter Sales of Rs 349.45 Crore. Company reported net profit after tax of Rs -10.06 Crore in latest quarter.
Investment Rationale While Gabon business may gain traction post the recent expansion and its increasing EU penetration, its standalone plywood business is expected to report meaningful volume (driven by lower base and sharp correction in receivables) and margin recovery post Q3FY21. Promoter/FII Holdings Promoters held 52 per cent stake in the company as of June 30, 2020, while FIIs held 11.2 per cent, DIIs 22.6 per cent and public and others 14.2 per cent.
