GREENPLYNSEGreenply Industries Limited· ConstructionMinimalNeutral
Announced Tue, 4 Nov · 14:13 IST

Greenply Industries Limited has informed the Exchange regarding a press release dated November 04, 2025, titled "Q2 FY26 Consolidated revenue at Rs 688.6 Crores, a growth of 7.5% YoY Plywood Business* Volume grew by 7.2% YoY in Q2 FY26: Core EBITDA margin at 8.2%MDF Revenue of 146.8 Crs; Core EBITDA margin at 8.3%".

GREENPLY · price

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Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Greenply Industries posted Q2 FY26 consolidated revenue of Rs 688.6 crores, up 7.5% year-on-year, with core EBITDA of Rs 56.8 crores at an 8.2% margin and a net profit of Rs 16.0 crores. The plywood business grew 5.4% to Rs 541.7 crores on a 7.2% rise in volumes, though realisation per sq metre slipped 3.5% due to a change in product mix. The MDF segment grew 16.1% to Rs 146.8 crores, but margins compressed sharply to 8.3% from 11.8% a year ago, and the unit slipped into a Rs 4.0 crore net loss because of an expansion-related shutdown. For H1 FY26, consolidated revenue rose 5.3% to Rs 1,289.4 crores with a PAT of Rs 44.4 crores. Management said plywood demand is recovering and is guiding for double-digit volume growth and better margins in H2 FY26, with the MDF plant now ramped up from 800 to 1,000 CBM per day.

Likely market impact

The headline revenue growth and a management-guided recovery in H2 are positive, but the sharp MDF margin compression, a net loss in that segment, and losses from the Greenply Samet JV may keep the stock range-bound in the near term until margin improvement is visible.