GREENPLYNSEGreenply Industries Limited· ConstructionMediumNeutral
Announced Tue, 29 Jul · 15:12 IST

Greenply Industries Limited has informed the Exchange about Investor Presentation

Investor Communications View source PDF

GREENPLY · price

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Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Greenply Industries filed its Q1 FY2026 investor presentation showing consolidated revenue of Rs 601 Cr, up 2.9% year-on-year, with Core EBITDA rising 6.4% to Rs 62 Cr and EBITDA margins improving 40 basis points to 10.3%. Profit after tax declined 14.3% to Rs 28 Cr, partly because the prior year quarter included a one-time income tax refund of Rs 11.9 Cr. The MDF business was the standout, with revenue up 11.8% to Rs 147.3 Cr and EBITDA margins expanding 80 basis points to 17.4%, while the plywood business was largely flat at Rs 454 Cr with volumes slipping 3.1% YoY. Net debt increased to Rs 538 Cr from Rs 464 Cr quarter-on-quarter, lifting the net debt-to-equity ratio to 0.64x, and working capital days stretched to 58 from 44. The company also divested a 30% stake in its Dubai subsidiary GMEL, booking a one-time gain of Rs 4 Cr, while the furniture hardware JV (Greenply Samet) reported a Rs 5.4 Cr loss share.

Likely market impact

The margin expansion in the higher-value MDF segment is a positive signal, but rising debt, weaker plywood volumes, and a working capital build-up are concerns that may keep the stock range-bound in the near term. Investors should track MDF volume growth and any normalisation of working capital in the coming quarters.