Greenply Revenues Up By 34%, Counts On Realty Revival

Popularising Okoume in the Plywood Industry

Greenply Revenues Up By 34%, Counts On Realty Revival

Co setting up new plants in UP & Guj

Despite stress of raw material prices and availability, Greenply hopes to do well on renewed real estate demand

MUMBAI, May 16 (The CONNECT) - Greenply Industries Limited has clocked a revenue of Rs 1,562.8 crores for the financial year 2021-22 which marks a growth of 34.1% Year on Year

The adjusted Core EBITDA (excluding non-cash ESOP cost of Rs 12.1 crores) stood at Rs 162.3 crores - a growth of 38.5% YoY - and the margins were at 10.4%. The Profit after tax (PAT) was Rs 94.7 crores, a growth of 55.5% YoY

The company’s Net debt was Rs 219.3 crores and net debt-equity ratio was at 0.4 times

Greenply is setting up a greenfield plywood manufacturing unit with the capacity of 13.5 Mn Sqm p.a. at district Sandila, Lucknow, U.P. The financial closure for the project and the construction activity is now complete. Commercial operation is expected to start shortly.

The company is setting up a greenfield MDF board manufacturing unit with the capacity of 800 CBM per day near Vadodara, Gujarat. The financial closure for the project is completed. Civil construction work for the project is in full swing. First phase of machinery despatches has started. The expected COD of the plant is likely to be in the fourth quarter of FY23.

Manoj Tulsian, JMD & CEO, Greenply Industries Ltd. said “We have seen an improving demand scenario in FY22 and accordingly have achieved a strong financial performance in FY22.”

While the increasing raw material prices and raw material availability continues to constrain the growth trajectory, a renewed demand in the real estate industry is likely to support the performance going forward, he said. Overall, the company expect strong growth led by continued momentum in real estate, increased home and office renovation activities and a shift of consumer preference towards branded products.

Greenplay has joined hands with Lucknow Super Giants’, a new IPL franchise, as an associate sponsor.

The company’s zero-emission products have achieved the milestone of reaching to over one million homes.

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