Greenpanel Industries Limited submitted the transcript of the investor call dated May 18, 2026.
GREENPANEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Greenpanel Industries reported a transformational FY26 with MDF domestic volumes growing 29.5% YoY in Q4 and 16.9% for the full year. Total revenues for Q4 were INR391 crore (+15.5% YoY) and full year revenues reached INR1502 crore (+7.8% YoY). Operational EBITDA margin was 9.1% in Q4 and 8.8% for the full year, though reported EBITDA was lower at 6.3% due to INR49 crore FX impact on Euro borrowings and initial inefficiencies from the new Andhra Pradesh plant. The company took a 15% price increase in MDF to offset chemical cost inflation (chemicals represent 40-45% of raw material costs), but competitive discounting is already emerging in the market. Management adopted a cautious stance for FY27, prioritizing volume growth and market share over margin improvement, and refrained from giving formal guidance due to geopolitical uncertainty affecting exports and chemical cost volatility.
Shareholders should expect continued near-term margin pressure from chemical costs and competitive discounting, though the company has significant capacity headroom (operating at 60%) for organic volume growth without major new investments. The focus on volume scale-up suggests short-term profitability may be sacrificed for market share gains.