Greenply Industries

Leading plywood and laminates maker Greenply expects a turnover of Rs 750-800 crore by FY26 from its equal joint venture (JV) with Turkiye-based furniture hardware firm Samet, a top company official said on Friday. Greenply expects 8-10 per cent volume growth in its core plywood business and 50-60 per cent in new medium-density fiberboard (MDF) business in the current fiscal, Joint Managing Director and CEO Manoj Tulsian said. It also plans to set up one more plywood factory that may have an investment of about Rs 125 crore and enter new adjacent products through brand extension of Greenply, he added. The Greenply-Samet JV has already commenced its manufacturing activities and commercial production at its Vadodara-based plant in Gujarat, which will not only cater to the growing domestic market but also explore export opportunities. "We have planned an investment of close to Rs 250 crore," Tulsian told PTI. The investment will be done in phases and only the first phase has been ...

The company to invest around Rs 34 crore in joint venture over the next 4 years

Leading plywood maker Greenply Industries Limited on Tuesday reported a consolidated net profit of Rs 23.6 crore for the second quarter ended September 2022, a decline of 26 per cent over the corresponding quarter of the previous year. The company's profit suffered due to a challenging macro environment and rising timber prices, a company official stated. The company for the quarter under review posted a revenue of Rs Rs 494.7 crore from operations, a 14 per cent jump over the corresponding period revenue of Rs 432.4 crore. Adjusted core EBIDTA (Earnings before interest, taxes, depreciation, and amortisation) margin remained almost flat at Rs 52.9 crore during the quarter. "We delivered good volume growth in the quarter backed by the commissioning of the Sandila unit and improved demand momentum due to festivities. The macro-environment has been challenging with a continued increase in timber prices, partially offset by the ease in some chemical prices. The situation remains ...

Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.

The company said the margin was expected to improve post Covid-19 from FY22 with increase in revenue and cost rationalization measures

Greenply Industries' EBITDA increased by 22.1% to Rs 45 crore

MDF is a high volume and low value product, so the cost of freight plays an important role in determining the profitability of the business

Shares of the company were trading 2.57 per cent higher at Rs 283 apiece on BSE