Greenpanel Industries Limited has informed the Exchange regarding Board meeting held on May 22, 2025.
GREENPANEL · price
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Greenpanel Industries reported its audited results for Q4 and FY25 on May 22, 2025, with full-year revenue from operations declining about 8.4% year-on-year to ₹1,43,577 lakhs (from ₹1,56,704 lakhs). Net profit after tax fell sharply by roughly 47% to ₹7,211 lakhs (from ₹13,524 lakhs), with EPS dropping to ₹5.88 from ₹11.03. The MDF segment, which contributes the bulk of revenue (₹1,30,058 lakhs), saw its segment profit nearly halve to ₹17,299 lakhs, indicating significant margin compression. Statutory auditors S.S. Kothari Mehta & Co. LLP issued an unmodified opinion but included an Emphasis of Matter regarding ₹5,000 lakhs of government subsidies (power and stamp duty) not yet recognized in the books. The company commissioned a new MDF line in Andhra Pradesh (₹61,316 lakhs capex) adding 231,000 cubic metres of annual capacity, which lifted non-current borrowings to ₹32,065 lakhs.
Shareholders should note the steep drop in profits and revenue, reflecting weak realisations and margin pressure despite higher volumes. The new MDF line offers future growth potential but has increased debt and depreciation burden. The unaccounted government subsidy of ~₹5,000 lakhs is a positive watch item that could boost future earnings if received.