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Earnings Call Transcript

Greenply Industries Earnings Call Transcript: Key Takeaways

Greenply delivered strong 16.1% revenue growth, navigating plywood capacity constraints and MDF pricing pressure.

Guidance and delivery
Management target Revenue 20.0% FY27
Highlights
Revenue growth16.1% YoY growth to ₹799.7 Cr, driven by premium product mix.
MarginsCore EBITDA expanded 300 bps YoY to 11.2% through operational efficiency.
Demand visibilityHealthy momentum in premium plywood; MDF facing intense unorganized competition.
Management confidenceConfident, focusing on premiumization and capacity expansion despite sectoral pricing wars.

Growth

Revenue grew 16.1% YoY to ₹799.7 Cr; Core EBITDA margin expanded 300 bps YoY to 11.2%.

Outlook

Plywood capacity expansion in Lucknow targets ₹320-340 Cr revenue by Q4 FY28.

Risks

Pricing volatility in MDF due to competition and high chemical costs (up 7-8%) remain headwinds.

Last quarter's promises, checked

Delivered

  • Guided peak D/E 0.75x (Mar-27) → D/E 0.56x (= BEAT, net-debt basis)

Partly delivered

  • Guided plywood vol +10% → +6.1% (= PARTIAL)
  • Guided plywood EBITDA ~10% → split undisclosed (= PARTIAL)

Missed

  • Guided MDF vol +25-30% → +16.1% (= MISS)
  • Guided MDF EBITDA 16-17% → 15.2% (= MISS)
  • Guided JV losses zero mid-FY28 → minority-stake pivot (= MISS)
Source

Earnings Call Transcript filed with NSE, NSE: GREENPLY. Summary written with AI assistance from the document.

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Greenply Industries Ltd: key numbers

Share price
₹264.70
Market cap
₹3,306 Cr
Revenue (annual)
₹2,739 Cr
Net profit (annual)
₹89.53 Cr
P/E (TTM)
26.4×Sector 40.0×
Promoter holding
51.93%+0.00% QoQ
FII holding
4.66%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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