Greenply Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Plywood & Allied Products: 76.8% • Medium Density Fibre-board & Allied Products: 23.2%
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 consistently been profitable over the last 5 years
- Latest quarter profit grew 32.2% YoY, showing strong momentum
- Company has delivered good sales growth of 18.6% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.16x)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Recent results are weak - TTM profit is down 58.7% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Recurring exceptional / one-off items are inflating headline profit
- Company has delivered a poor profit growth of 8.1% over past five years
- Though reporting repeated profits, the company pays out little dividend (7.0%)
- Growth is decelerating - 3Y profit CAGR (-5.4%) trails the 5Y trend (8.1%)
* 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
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 430 | 568 | 582 | 600 | 584 | 640 | 614 | 649 | 601 | 689 | 673 | 776 | 725 | |
| 403 | 519 | 532 | 542 | 526 | 583 | 560 | 581 | 539 | 632 | 614 | 683 | 672 | |
| Operating Profit | 27 | 48 | 50 | 58 | 58 | 58 | 54 | 68 | 62 | 57 | 59 | 93 | 53 |
| OPM % | 6.30% | 8.52% | 8.66% | 9.61% | 9.92% | 9.00% | 8.79% | 10.49% | 10.25% | 8.24% | 8.75% | 12.01% | 7.36% |
| 2 | 3 | 17 | 8 | 6 | 2 | 3 | 6 | 18 | 2 | -3 | -13 | 2 | |
| Interest | 8 | 12 | 15 | 9 | 10 | 14 | 5 | 13 | 19 | 13 | 10 | 13 | 7 |
| Depreciation | 11 | 14 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 16 | 17 | 17 | 17 |
| Profit before Tax | 10 | 26 | 38 | 43 | 38 | 30 | 37 | 46 | 45 | 29 | 30 | 50 | 49 |
| Tax % | 37.95% | 26.94% | 25.40% | 22.02% | 1.36% | 26.88% | 24.16% | 17.05% | 17.03% | 25.11% | 25.62% | 25.41% | 23.95% |
| Net Profit | 0 | 0 | 0 | 0 | 33 | 18 | 24 | 166 | 28 | 16 | 14 | 31 | 38 |
| 0.07 | 1.52 | 2.18 | 2.63 | 2.68 | 1.42 | 1.96 | 1.33 | 2.28 | 1.28 | 1.15 | 2.48 | 3.01 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,668 | 912 | 1,412 | 1,420 | 1,165 | 1,563 | 1,663 | 2,180 | 2,488 | 2,739 | 2,863 | |
| 1,423 | 846 | 1,269 | 1,265 | 1,050 | 1,413 | 1,509 | 1,994 | 2,250 | 2,469 | 2,601 | |
| Operating Profit | 245 | 66 | 143 | 156 | 115 | 150 | 154 | 186 | 238 | 271 | 262 |
| OPM % | 14.68% | 7.28% | 10.12% | 10.96% | 9.88% | 9.61% | 9.25% | 8.52% | 9.55% | 9.88% | 9.16% |
| 4 | 1 | 4 | -48 | 8 | 10 | 27 | 28 | 16 | 4 | -12 | |
| Interest | 19 | 8 | 19 | 21 | 17 | 12 | 9 | 43 | 43 | 55 | 44 |
| Depreciation | 51 | 18 | 22 | 26 | 23 | 26 | 26 | 55 | 60 | 65 | 67 |
| Profit before Tax | 181 | 35 | 111 | 61 | 81 | 125 | 125 | 115 | 117 | 125 | 159 |
| Tax % | 30.82% | 39.79% | 28.35% | 22.15% | 25.15% | 24.21% | 15.32% | 25.87% | 21.60% | 28.32% | 24.94% |
| Net Profit | 125 | 21 | 80 | 47 | 61 | 95 | 106 | 85 | 92 | 90 | 119 |
| EPS | 10.29 | 9.02 | 6.50 | 3.85 | 4.97 | 7.72 | 7.37 | 5.66 | 7.34 | 7.17 | — |
| Dividend Payout % | 5.87% | 6.65% | 6.16% | 10.38% | 8.05% | 6.47% | 6.72% | 8.84% | 6.81% | 6.98% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 19%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -4%
- 5 Years:
- 8%
- 3 Years:
- -1%
STOCK PRICE CAGR
- 10 Years:
- 1%
- 5 Years:
- 11%
- 3 Years:
- 21%
- 1 Year:
- -9%
RETURN ON EQUITY
- 10 Years:
- 14%
- 5 Years:
- 15%
- 3 Years:
- 12%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| 760 | 865 | 323 | 366 | 424 | 512 | 605 | 680 | 794 | 881 | |
| 472 | 796 | 260 | 277 | 200 | 305 | 686 | 483 | 441 | 411 | |
| Trade Payables | 208 | 219 | 232 | 232 | 204 | 216 | 243 | 333 | 535 | 452 |
| 123 | 390 | 250 | 66 | 68 | 106 | 132 | 148 | 160 | 195 | |
| Total Liabilities | 1,575 | 2,282 | 1,077 | 952 | 909 | 1,152 | 1,678 | 1,657 | 1,943 | 1,952 |
| 526 | 580 | 252 | 314 | 308 | 353 | 459 | 865 | 857 | 907 | |
| Capital Work in Progress | 269 | 770 | 16 | 5 | 6 | 110 | 513 | 12 | 44 | 50 |
| 26 | 18 | 22 | 24 | 23 | 26 | 6 | 43 | 67 | 55 | |
| 158 | 231 | 169 | 177 | 179 | 226 | 278 | 348 | 518 | 364 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 249 | 323 | 407 | |
| Cash & Bank | 78 | 34 | 21 | 10 | 128 | 73 | 31 | 22 | 25 | 28 |
| 517 | 648 | 597 | 421 | 264 | 365 | 390 | 117 | 109 | 141 | |
| Total Assets | 1,575 | 2,282 | 1,077 | 952 | 909 | 1,152 | 1,678 | 1,657 | 1,943 | 1,952 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 253 | 157 | 123 | 86 | 243 | 124 | 66 | 111 | 219 | 247 | |
| Cash from Investing | -363 | -328 | -84 | -57 | -125 | -129 | -409 | -143 | -147 | -152 |
| Cash from Financing | 190 | 164 | -28 | -19 | -92 | 80 | 318 | 47 | -83 | -78 |
| 39 | -50 | -14 | -19 | 11 | 43 | -29 | 15 | -11 | 16 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Greenply Industries Limited has informed the Exchange about Schedule of meet
2026-09-11 - Greenply Industries Limited has informed the Exchange about Agreements
2026-09-11 - Greenply Industries Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
2026-09-11 - Greenply Industries Limited has informed the Exchange regarding a press release dated September 11, 2026, titled "Greenply Industries Limited Announces Proposed Capital Restructuring of Joint Venture Entity to Focus on dominant Plywood and MDF Expansion".
2026-09-11 - Greenply Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on September 11, 2026.
2026-08-25 - Greenply Industries Limited has informed the Exchange regarding the Shareholders of the Company at the 36th Annual General Meeting held on 25th August, 2026, have approved the appointment of Mr. Girish Kulkarni (DIN: 01683332) as an Independent Director of the Company with effect from July 24, 2026. Terms of appointment: for a term of 5 (five) consecutive years with effect from July 24, 2026 to July 23, 2031..
2026-08-25 - Greenply Industries Limited has informed the Exchange regarding the Shareholders of the Company at the 36th Annual General Meeting held on 25th August, 2026, have approved the re-appointment of Ms. Vinita Bajoria (DIN- 02412990) as an Independent Director of the Company for further period of five consecutive years w.e.f. 15th September, 2026 to 14th September, 2031.
2026-08-25 - Greenply Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 25, 2026
2026-08-25 - Greenply Industries Limited has informed the Exchange regarding voting results of Annual General Meeting held on August 25, 2026
News
Recent coverage and analyst commentary for GREENPLY
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