Key Decisions
1. Corporate Guarantee Approval
The Board approved the issuance of a corporate guarantee in favor of Federal Bank Limited for credit facilities to be availed by Greenply Speciality Panels Pvt. Ltd. (GSPPL), a wholly owned subsidiary.
Details of Corporate Guarantee:
- Guarantee Amount: Up to ₹130 crores
- Purpose: Capex Letter of Credit for machinery suppliers towards expansion of manufacturing capacity of MDF plant of GSPPL
- Duration: 12 months from date of issuance of Capex Letter of Credit
- Counterparty: Federal Bank Limited
- Beneficiary: Greenply Speciality Panels Pvt. Ltd.
- Terms: Company will charge guarantee commission from GSPPL
- Transaction Nature: Arm's length transaction, no promoter/promoter group/group company interest
Financial Impact:
- No immediate financial impact on the company as GSPPL's financials are consolidated
- The guarantee amount will be disclosed as contingent liability in financial statements
2. Risk Management Committee Reconstitution
The Board approved the reconstitution of the Risk Management Committee with the following composition:
- Mr. Adika Ratna Sekhar (Chairman)
- Mr. Sanidhya Mittal (Member)
- Mr. Sanjiv Keshri, Chief Financial Officer (Member)
3. Key Managerial Personnel Authorization
The Board approved the updated list of Key Managerial Personnel authorized for determining materiality of events and making disclosures to stock exchanges:
Authorized Persons:
1. Mr. Sanjiv Keshri - Chief Financial Officer
- Contact: sanjiv.keshri@greenply.com
- Primary authorized person
2. Mr. Kaushal Kumar Agarwal - Company Secretary & Vice President-Legal
- Contact: kaushal.agarwal@greenply.com
- Authorized in absence of Chief Financial Officer
Meeting Details
- Date: June 26, 2026
- Commencement Time: 6:15 PM
- Conclusion Time: Not specified clearly in document