Manufactures plywood and medium density fibreboard (MDF) panels for construction and interior applications. Plywood and allied products forms 76.8% of FY26 segment revenue and MDF and allied products forms 23.2%, with MDF carrying materially higher margins — Q1 FY27 EBITDA margin of 17.3% versus 8.4% in plywood. The company employs 1,384 permanent staff and 3,030 workers and operates 60 offices (FY26 BRSR). Capacity is being expanded: a new HDF flooring line commenced commercial production on 20 July 2026 with peak revenue potential of ₹75-80 cr, a second MDF line in Vadodara has been sanctioned, and an Odisha greenfield plywood plant is under construction. Raw materials — chiefly imported chemicals — are the largest cost at 39.9% of FY26 revenue; Middle East-driven chemical price hikes led to effective price increases of 7-9% in MDF and 3-5% in plywood in Q1 FY27. A furniture joint venture (Greenply Samet) doubled its revenue in Q1 FY27 but posted a ₹5.7 cr loss. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plywood and allied products (77%), Medium density fibreboards and allied products (23%). Cyclical consumer durables with capacity-driven volume dynamics
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,563 | 1,846 | 2,180 | 2,488 | 2,739 |
| EBITDA (ex other income) | 150 | 179 | 200 | 238 | 256 |
| margin % | 9.6 | 9.7 | 9.2 | 9.6 | 9.3 |
| Owners' profit | 95 | 91 | 70 | 92 | 90 |
| EPS, as reported (₹) | 7.72 | 7.44 | 5.67 | 7.39 | 7.19 |
| ROE % · ROCE % | 17.6 · 19.2 | 14.2 · 13.2 | 9.9 · 14.2 | 11.3 · 16.1 | 10.0 · 16.2 |
| Debt / equity (x) | 0.54 | 1.03 | 0.74 | 0.60 | 0.55 |
| Cash from operations | 92 | 62 | 111 | 219 | 247 |
| Capex | (222) | (415) | (134) | (77) | (157) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 640 | 614 | 649 | 601 | 689 | 673 | 776 | 725 |
| Profit before tax | 30 | 37 | 46 | 45 | 29 | 30 | 50 | 55 |
| Net profit | 18 | 24 | 17 | 28 | 16 | 14 | 31 | 38 |
| EPS (₹) | 1.42 | 1.96 | 1.33 | 2.28 | 1.28 | 1.15 | 2.48 | 3.01 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Plywood and allied products | 1,651 | 60.3 |
| Medium density fibreboards and allied products | 488 | 17.8 |
| a) Plywood and allied products | 454 | 16.6 |
| b) Medium density fibreboards and allied products | 147 | 5.4 |
| Total, before eliminations | 2,740 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Greenply to attend Anand Rathi conference on September 21 | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Board okays corporate guarantee and JV stake dilution to partner Samet | credit debt | medium | — | — |
| 11 Sept 2026 · Greenply board approves INR 200cr guarantee for subsidiary, JV stake to dilute to 19% | credit debt | medium | — | — |
| 11 Sept 2026 · Greenply restructures JV with Samet to focus on core Plywood and MDF | compliance | low | — | — |
| 11 Sept 2026 · Greenply board approves 200cr guarantee for subsidiary, JV stake dilution | credit debt | medium | — | — |
| 25 Aug 2026 · Greenply appoints Girish Kulkarni, re-appoints Vinita Bajoria as independent directors | management changes | medium | — | — |
| 25 Aug 2026 · Greenply shareholders approve re-appointment and appointment of Independent Directors | management changes | medium | — | — |
| 25 Aug 2026 · AGM outcome: Re 0.50 dividend declared, all resolutions passed | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Greenply 36th AGM: All 5 Resolutions Passed, Re.0.50 Dividend Declared | board shareholder meetings | medium | — | — |
| 25 Aug 2026 · Greenply AGM 2026: all 5 resolutions passed, Re. 0.50 dividend declared | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| CENTURY PLYBOARDS (I) LTD |
| 15,977 |
| 54.9 |
| 6.07 |
| 26.9 |
| 10.2 |
| 11.0 |
| 20.4 |
| 12.8 |
| GREENLAM INDUSTRIES LTD. | 6,013 | 64.6 | 5.10 | 21.4 | 4.8 | 4.5 | 20.5 | 10.8 |
| STYLAM INDUSTRIES LIMITED | 5,595 | 33.0 | 6.93 | 24.4 | 18.6 | 24.6 | 18.9 | 21.5 |
| GREENPLY INDUSTRIES LTD ◆ | 3,622 | 36.6 | 4.05 | 14.9 | 10.0 | 12.0 | 18.6 | 11.1 |
| GREENPANEL INDUSTRIES LTD | 1,882 | 13.2 | 1.43 | 7.9 | 10.8 | 10.9 | — | 14.8 |
| RUSHIL DECOR LIMITED | 465 | 20.1 | 0.71 | 9.6 | 1.0 | 1.2 | — | 8.4 |
| ARCHIDPLY IND. LTD | 202 | 15.5 | 1.80 | 9.0 | 7.1 | 6.2 | — | 7.5 |
| ECOBOARD INDUSTRIES LTD. | 157 | 14.4 | 6.98 | — | (44.7) | (43.3) | — | (31.2) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 36.6 | 19.7 | 9 of 12 | 27% |
| P/B | 4.0 | 3.2 | 8 of 13 | 42% |
| ROCE | 12.0 | 4.5 | 2 of 13 | 92% |
| ROE | 10.0 | 4.8 | 4 of 13 | 75% |
| Debt / Equity | 0.6 | 0.4 | 9 of 13 | 33% |
| EBITDA margin | 11.1 | 7.5 | 4 of 13 | 75% |
| Revenue growth | 20.6 | 18.2 | 6 of 13 | 58% |
| Profit growth | 32.2 | 32.2 | 7 of 13 | 50% |
| Market cap | 3622 | 202 | 4 of 13 | 75% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
