Board approves INR 425 crore MDF capacity expansion

Capex & Operations View source PDF Explain this filing

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AI summary

The Board approved expanding MDF plant capacity at wholly owned subsidiary Greenply Speciality Panels (GSPPL) in Vadodara, Gujarat. Existing capacity is 1000 CBM per day at around 71 percent utilization, adding 600-700 CBM per day by Q2 FY28. Total investment around INR 425 crores, funded through a mix of borrowings and equity. Greenply will invest up to INR 125 crores in GSPPL via equity shares. The Board also ended the JV with Alkemal Singapore and will acquire the partner stake for USD 1.

Likely market impact

Major capex of INR 425 cr to boost MDF capacity by 60-70% by FY28; partly debt funded with INR 125 cr equity infusion into subsidiary.