Greenpanel Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Medium Density Fibre Boards and allied product: 89.6% • Plywood and allied products: 10.4%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company has delivered good profit growth of 32.8% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 23.9%
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.3%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 21.2% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.31x)
CONS
- Recent results are weak - TTM profit is down 33.0% versus prior year
- Total debt has risen sharply - up 40.7% year on year
- Operating margins have contracted to 14.5% from 19.1%
- Though reporting repeated profits, the company pays out little dividend (12.9%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CENTURYPLY | 717.90 | 54.78 | 15949.80 | 0.14 | 83.30 | 57.39 | 1561.38 | 33.52 | 11.66 | 12.67 |
| GREENPLY | 289.45 | 36.66 | 3615.29 | 0.17 | 37.61 | 32.16 | 724.89 | 20.65 | 13.47 | 10.01 |
| GREENPANEL | 153.45 | 13.19 | 1881.72 | 0.33 | 29.80 | -56.76 | 396.60 | -10.15 | -0.40 | 12.94 |
| ORIRAIL | 124.00 | 17.65 | 831.53 | 0.08 | 10.75 | 82.98 | 137.58 | 16.69 | 12.04 | 15.23 |
| ARCHIDPLY | 102.60 | 15.65 | 203.81 | 0.00 | 5.62 | 888.91 | 189.01 | 27.84 | 3.62 | 7.37 |
| ADL | 74.75 | 0.00 | 41.61 | 0.00 | -0.25 | -78.57 | 11.05 | -0.08 | 3.34 | -0.16 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| 470 | 464 | 457 | 420 | 441 | 386 | 399 | 386 | 397 | |
| 332 | 332 | 341 | 328 | 365 | 320 | 330 | 325 | 345 | |
| Operating Profit | 138 | 132 | 117 | 92 | 76 | 66 | 69 | 60 | 51 |
| OPM % | 29.32% | 28.35% | 25.52% | 21.90% | 17.27% | 17.04% | 17.33% | 15.63% | 12.93% |
| 4 | 7 | 14 | -4 | 9 | 6 | 7 | 1 | 7 | |
| Interest | 3 | 3 | 2 | 11 | 3 | 4 | 2 | 6 | 0 |
| Depreciation | 18 | 18 | 18 | 18 | 17 | 18 | 18 | 18 | 18 |
| Profit before Tax | 120 | 118 | 110 | 58 | 64 | 50 | 55 | 37 | 40 |
| Tax % | 32.72% | 34.19% | 34.39% | 35.61% | -7.15% | 25.45% | 26.09% | 7.56% | 26.00% |
| Net Profit | 0 | 78 | 72 | 38 | 69 | 37 | 41 | 35 | 30 |
| 6.57 | 6.33 | 5.91 | 3.06 | 5.62 | 3.04 | 3.34 | 2.82 | 2.43 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0 | 599 | 877 | 1,021 | 1,625 | 1,783 | 1,567 | 1,567 | |
| 0 | 522 | 739 | 817 | 1,195 | 1,366 | 1,321 | 1,321 | |
| Operating Profit | -0 | 77 | 138 | 203 | 430 | 417 | 246 | 246 |
| OPM % | — | 12.91% | 15.72% | 19.92% | 26.49% | 23.36% | 15.71% | 15.73% |
| 0 | 13 | -9 | 3 | 9 | 25 | 22 | 22 | |
| Interest | 0 | 25 | 48 | 37 | 17 | 19 | 12 | 12 |
| Depreciation | 0 | 53 | 69 | 69 | 73 | 72 | 73 | 73 |
| Profit before Tax | -0 | 12 | 12 | 101 | 349 | 351 | 183 | 183 |
| Tax % | -0.00% | -179.17% | -23.49% | 31.85% | 31.09% | 26.91% | 22.10% | 22.10% |
| Net Profit | -0 | 35 | 14 | 69 | 240 | 257 | 143 | 143 |
| EPS | -0.52 | 282.00 | 1.18 | 5.61 | 19.61 | 20.92 | 11.64 | — |
| Dividend Payout % | 0.00% | — | 0.00% | 0.00% | 7.65% | 7.17% | 12.89% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 21%
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 33%
- 3 Years:
- 28%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -12%
- 3 Years:
- -26%
- 1 Year:
- -52%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 15%
- 3 Years:
- 21%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 12 | 12 | 12 | 12 | 12 |
| -0 | 633 | 649 | 718 | 939 | 1,182 | 1,305 | |
| 0 | 644 | 616 | 501 | 317 | 227 | 259 | |
| Trade Payables | 0 | 82 | 121 | 130 | 138 | 111 | 109 |
| 0 | 99 | 71 | 94 | 136 | 172 | 205 | |
| Total Liabilities | 0 | 1,458 | 1,469 | 1,455 | 1,542 | 1,705 | 1,891 |
| 0 | 1,137 | 1,111 | 1,074 | 1,038 | 992 | 982 | |
| Capital Work in Progress | 0 | 4 | 6 | 4 | 0 | 5 | 313 |
| 0 | 0 | 0 | 0 | 0 | 0 | 98 | |
| 0 | 134 | 154 | 149 | 166 | 153 | 202 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 29 | |
| Cash & Bank | 0 | 20 | 12 | 73 | 223 | 378 | 140 |
| 0 | 162 | 187 | 156 | 116 | 178 | 127 | |
| Total Assets | 0 | 1,458 | 1,469 | 1,455 | 1,542 | 1,705 | 1,891 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| -0 | 21 | 106 | 230 | 424 | 400 | 135 | |
| Cash from Investing | 0 | -105 | -22 | -70 | -136 | -248 | -158 |
| Cash from Financing | 0 | 102 | -86 | -141 | -185 | -134 | 50 |
| 0 | 14 | -8 | 2 | 44 | -44 | 27 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-21 - Greenpanel Industries Limited has informed the Exchange about Credit Rating
2026-08-15 - Greenpanel Industries Limited has informed the Exchange about Transcript
2026-08-11 - Greenpanel Industries Limited has informed the Exchange regarding 'Promoter reclassification request'.
2026-08-11 - Greenpanel Industries Limited has informed the Exchange about Link of Recording
2026-08-10 - Greenpanel Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-08 - Greenpanel Industries Limited has informed the Exchange about Investor Presentation
2026-08-08 - Greenpanel Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07 - Greenpanel Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 07, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-07 - Greenpanel Industries Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
News
Recent coverage and analyst commentary for GREENPANEL
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Greenpanel Industries Ltd.
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