Greenpanel Industries: Widening distribution reach and increasing domestic volumes and proportion of value-added products

Greenpanel Industries: Widening distribution reach and increasing domestic volumes and proportion of value-added products




  • Commencement of commercial production at MDF plant in Tirupati district, Andhra Pradesh Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation of letters dated July 22, 2022 and February 26, 2025, we are pleased to inform you that the Company has successfully commenced commercial production at its new MDF plant, located within its existing unit in Tirupati district, Andhra Pradesh, effective today. With this commencement, the Company’s consolidated installed capacity has increased to 8,91,000 CBM per annum, including the new plant’s producƟon capacity of 2,31,000 CBM per annum. 
Financial Performance FY23: 
  • Net sales grew by 12.2% at ₹ 1,778.55 crores Vs  1,585.74
  • MDF Sales increased by 15.4% at ₹ 1,534.58 crores while plywood sales were lower by 4.7% at ₹ 243.97 crores. 
  • EBITDA margins were lower by 320 bps at 24.5%  Vs  27.7%
  • PAT was up by 7% at ₹ 256.51 crores Vs  240.47
  •   Net cash generated from operating activities: 337 Cr Vs 365  
  • Net Debt as on 31 March 2023 stood at negative ₹ 187 crores compared to positive ₹ 144 crores as on 31 March 2022
  • EPS (₹) :  20.92  
  •   New MDF plant at existing manufacturing unit in Chittoor, Andhra Pradesh, lndia with an additional installed capacity of 2,31,000 CBM per annum had been approved by the Board of Directors. 
  • The additional capacity will increase MDF production capacity of the company from 6,60,000 CBM per annum to 8,91,000 CBM per annum, an increase of 35% over existing capacity. 
  • The estimated project cost is ₹ 600 crores (Rupees Six hundred crores) which shall be funded by a mix of internal accruals and debt. 
  • The commercial production of the plant is expected to begin during Q1FY2025  

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