Greenply Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • Plywood & Allied Products: 72.5% • Medium Density Fibre-board & Allied Products: 27.0% • Unallocated: 0.6%
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 is almost debt free
- Company comfortably covers its interest (11.4x coverage)
- Company has a consistent dividend-paying track record
CONS
- A large part of profit comes from other income (37.3% of PBT)
- Contingent liabilities are large at 65.1% of net worth
- Company has delivered a poor profit growth of 4.9% over past five years
- Recurring exceptional / one-off items are inflating headline profit
- Valuation is stretched - P/E of 48.1 is well above its own 5-year median (30.6)
- Operating margins have contracted to 5.7% from 9.9%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CENTURYPLY | 738.20 | 56.33 | 16400.81 | 0.14 | 83.30 | 57.39 | 1561.38 | 33.52 | 11.66 | 12.67 |
| GREENPLY | 294.00 | 37.24 | 3672.12 | 0.17 | 37.61 | 32.16 | 724.89 | 20.65 | 13.47 | 10.01 |
| GREENPANEL | 159.95 | 13.75 | 1961.43 | 0.31 | 29.80 | -56.76 | 396.60 | -10.15 | -0.40 | 12.94 |
| ORIRAIL | 126.55 | 18.01 | 848.63 | 0.08 | 10.75 | 82.98 | 137.58 | 16.69 | 12.04 | 15.23 |
| ARCHIDPLY | 102.05 | 15.56 | 202.72 | 0.00 | 5.62 | 888.91 | 189.01 | 27.84 | 3.62 | 7.37 |
| ADL | 72.01 | 0.00 | 40.08 | 0.00 | -0.25 | -78.57 | 11.05 | -0.08 | 3.34 | -0.16 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 405 | 466 | 442 | 454 | 439 | 502 | 462 | 498 | 438 | 521 | 501 | 563 | 497 | |
| 378 | 436 | 415 | 425 | 419 | 472 | 436 | 467 | 417 | 497 | 473 | 518 | 479 | |
| Operating Profit | 26 | 30 | 27 | 29 | 20 | 30 | 26 | 31 | 21 | 24 | 27 | 44 | 18 |
| OPM % | 6.49% | 6.41% | 6.12% | 6.43% | 4.57% | 6.00% | 5.73% | 6.13% | 4.74% | 4.57% | 5.43% | 7.87% | 3.58% |
| 6 | 7 | 17 | 11 | 16 | 12 | 13 | 9 | 11 | 9 | 5 | -8 | 11 | |
| Interest | 2 | 2 | 1 | 2 | 2 | 1 | 1 | 2 | 2 | 3 | 2 | 3 | 1 |
| Depreciation | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Profit before Tax | 26 | 30 | 37 | 33 | 28 | 35 | 32 | 31 | 24 | 25 | 25 | 27 | 28 |
| Tax % | 25.40% | 25.67% | 25.31% | 24.14% | -4.12% | 25.65% | 25.01% | 20.21% | 22.34% | 26.35% | 27.27% | 31.25% | 25.30% |
| Net Profit | 19 | 22 | 27 | 25 | 30 | 26 | 24 | 25 | 19 | 18 | 18 | 19 | 21 |
| 1.56 | 1.79 | 2.22 | 2.00 | 2.39 | 2.11 | 1.96 | 2.00 | 1.49 | 1.45 | 1.44 | 1.51 | 1.70 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,663 | 891 | 1,284 | 1,268 | 1,015 | 1,377 | 1,643 | 1,767 | 1,901 | 2,022 | 2,081 | |
| 1,410 | 824 | 1,165 | 1,140 | 920 | 1,246 | 1,505 | 1,656 | 1,794 | 1,906 | 1,968 | |
| Operating Profit | 253 | 68 | 119 | 128 | 95 | 130 | 138 | 111 | 107 | 116 | 113 |
| OPM % | 15.23% | 7.58% | 9.25% | 10.08% | 9.38% | 9.47% | 8.39% | 6.30% | 5.64% | 5.74% | 5.43% |
| 4 | 3 | 8 | -44 | 11 | 13 | 17 | 42 | 49 | 18 | 18 | |
| Interest | 18 | 6 | 15 | 17 | 11 | 6 | 6 | 7 | 6 | 10 | 9 |
| Depreciation | 49 | 15 | 19 | 21 | 17 | 19 | 21 | 22 | 22 | 23 | 24 |
| Profit before Tax | 191 | 49 | 93 | 46 | 78 | 119 | 128 | 125 | 127 | 101 | 105 |
| Tax % | 29.26% | 28.11% | 33.96% | 29.20% | 26.11% | 25.48% | 14.77% | 25.11% | 17.51% | 26.96% | 27.56% |
| Net Profit | 135 | 35 | 61 | 33 | 58 | 89 | 109 | 93 | 105 | 74 | 76 |
| EPS | 11.08 | 11.07 | 5.00 | 2.66 | 4.72 | 7.24 | 8.82 | 7.55 | 8.41 | 5.89 | — |
| Dividend Payout % | 5.45% | 20.95% | 8.00% | 15.05% | 8.47% | 6.90% | 5.62% | 6.62% | 5.94% | 8.49% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 2%
- 5 Years:
- 15%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -6%
- 5 Years:
- 5%
- 3 Years:
- -12%
STOCK PRICE CAGR
- 10 Years:
- 1%
- 5 Years:
- 11%
- 3 Years:
- 21%
- 1 Year:
- 1%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 15%
- 3 Years:
- 12%
- Last Year:
- 9%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 775 | 903 | 319 | 345 | 398 | 482 | 591 | 694 | 814 | 884 | |
| 435 | 730 | 151 | 152 | 67 | 49 | 22 | 58 | 59 | 41 | |
| Trade Payables | 206 | 211 | 241 | 218 | 200 | 221 | 243 | 300 | 430 | 363 |
| 105 | 372 | 238 | 55 | 53 | 75 | 83 | 65 | 59 | 69 | |
| Total Liabilities | 1,533 | 2,228 | 962 | 783 | 731 | 839 | 950 | 1,130 | 1,374 | 1,369 |
| 501 | 483 | 169 | 200 | 191 | 185 | 184 | 190 | 190 | 190 | |
| Capital Work in Progress | 216 | 770 | 4 | 4 | 5 | 1 | 7 | 4 | 4 | 7 |
| 72 | 76 | 42 | 44 | 45 | 228 | 219 | 236 | 278 | 451 | |
| 158 | 215 | 142 | 144 | 131 | 172 | 174 | 230 | 363 | 249 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 229 | 292 | 350 | |
| Cash & Bank | 72 | 30 | 18 | 10 | 124 | 20 | 20 | 21 | 20 | 17 |
| 513 | 653 | 587 | 381 | 234 | 232 | 346 | 220 | 228 | 106 | |
| Total Assets | 1,533 | 2,228 | 962 | 783 | 731 | 839 | 950 | 1,130 | 1,374 | 1,369 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 259 | 175 | 156 | 63 | 233 | 141 | 139 | 50 | 54 | 103 | |
| Cash from Investing | -364 | -305 | -57 | -19 | -114 | -87 | -89 | -75 | -59 | -67 |
| Cash from Financing | 187 | 132 | -81 | -24 | -99 | -25 | -37 | 25 | -8 | -27 |
| 40 | -41 | -8 | -8 | 5 | -3 | 9 | 0 | -13 | 9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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
2026-08-25 - 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
2026-08-25 - Greenply Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 25, 2026
2026-08-06 - Greenply Industries Limited has informed the Exchange about Copy of Newspaper Publication of Public Notice in respect of transfer of Equity Shares of the Company to Investor Education and Protection Fund (IEPF) Demat Account
2026-08-04 - Greenply Industries Limited has informed the Exchange about Copy of Newspaper Publication- Public Notice to the shareholders regarding Opening of Special Window for Transfer and Dematerialisation of Physical Shares of Greenply Industries Limited.
2026-08-01 - Greenply Industries Limited has informed the Exchange about General Updates that the Company has sent a letter to those shareholders whose e-mail addresses are not registered with Company/Registrar & Transfer Agent/Depository Participants, providing the weblink and exact path of Company s website from where the Annual Report and Notice of 36th Annual General Meeting for the FY 2025- 26
2026-08-01 - Greenply Industries Limited has informed the Exchange about Copy of Newspaper Publication-Public Notice for conducting the 36th Annual General Meeting (AGM) through Video Conferencing/Other Audio Visual Means (VC/OAVM)
News
Recent coverage and analyst commentary for GREENPLY
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