Greenply Q3 PAT drops 26% YoY; board clears Rs 425 cr MDF expansion

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GREENPLY · price

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Price reactionminutes from the announcement price · days from the prior close

-5.3%Reaction day

₹235.60

prior close

₹237.09

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-6.7% vs market

Plywood Boards/ Laminates peers, median of 11sector+0.1%-5.5% vs sector

On the reaction day the stock moved 6.7 pts less than Nifty Microcap 250 and 5.5 pts less than its Plywood Boards/ Laminates peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-3.1

10m

-2.8

15m

-4.2

30m

-4.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.3+1.3-6.7+0.1-5.5

Next day

-6.2+0.3-6.5-0.2-6.1

-3.6-0.5-3.1+0.0-3.6

+2.4+2.1+0.3-0.3+2.7

+1.4+3.1-1.7+1.1+0.3

+0.5+2.6-2.1-0.0+0.5

-3.4+0.6-4.0-0.8-2.6

15d

-4.7-1.4-3.3-5.3+0.6

-10.9-6.9-4.0-8.5-2.4

-17.2-7.7-9.5-11.9-5.3

+12.6+7.0+5.6-2.2+14.7

UpDownMarket · Nifty Microcap 250Sector · Plywood Boards/ Laminates peers, median of 11Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Greenply Q3 FY26 standalone revenue rose 8.3% YoY to Rs 500.5 cr but PAT fell 26% to Rs 180 cr hit by Rs 34 cr Labour Code charge. Consolidated 9M revenue grew 6.7% to Rs 1,963 cr, PAT dropped 22% to Rs 588 cr. Board cleared Rs 425 cr MDF plant expansion at Gujarat WOS adding 600-700 CBM/day by Q2 FY28 plus Rs 125 cr equity infusion in GSPPL. Also buying 50% in Greenply Alkemal Singapore for USD 1. BSR gave unmodified review.

Likely market impact

PAT pressure from one-off Labour Code charge; Rs 425 cr capex signals MDF growth bet but raises debt outlook.