Plywood

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 government has prepared a comprehensive action plan to crackdown on diversion of highly-subsidised urea to plywood and other industries, and violators could even face a jail term, according to official sources. The Union chemicals and fertilisers ministry will coordinate with other central ministries as well as states to curb the diversions and plans are also afoot to launch joint operations to prevent the diversion of agriculture-grade urea, the sources in the know said. Earlier this week, Union Chemicals and Fertilisers Minister Mansukh Mandaviya asked states and Union Territories to curb diversion of agriculture-grade urea to industries. Neem-coated urea is provided by the central government to farmers at a highly subsidised rate of Rs 266 per bag (of 45 kilograms), which is much cheaper than technical-grade urea meant for industrial use. In this backdrop, there are instances of diversion of agriculture-grade urea to industries that make resin/glue, plywood, crockery, mouldi

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

The investments in the new laminate plant and particleboard will be done by Greenlam South Ltd

SME players are expected to be mostly restricted to the traditional plywood segment due to their limited financial flexibility

Rushil Decor, Uniply Ind, Century Plywood and Greenply Ind were up 2%-11% as compared to 1% fall in Sensex at 12:58 PM.