Q3 FY26 results: revenue up 9.6% YoY, EBITDA margin expands to 8.7%
GREENPLY · price
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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.
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Greenply Industries reported Q3 FY26 consolidated revenue of Rs 673.4 crores, up 9.6% YoY. Plywood revenue grew 8.9% to Rs 521.7 cr with 12.5% volume growth and 8.4% core EBITDA margin. MDF revenue grew 11.7% to Rs 152 cr with 14.5% volume growth and 10.1% core EBITDA margin, up 180 bps QoQ. Consolidated PAT was Rs 14.3 crores. For 9M FY26, revenue was Rs 1,962.8 crores (up 6.7% YoY) with PAT of Rs 58.8 crores. Management guided for MDF margins reaching 16% and announced a new Vadodara facility.
Solid revenue and volume growth across both businesses. MDF margin expansion is positive. New MDF capex cycle may pressure near-term returns.