Key Financial Highlights - Q2 FY27 (Consolidated)

  • Revenue: ₹799.7 crores, representing a 16.1% year-on-year (YoY) increase
  • Core EBITDA: ₹89.2 crores with an EBITDA margin of 11.2%
  • Net Profit: ₹42.7 crores

Segment-wise Performance - Q2 FY27

Plywood Business (Greenply Standalone + Subsidiaries)

  • Revenue from Plywood & allied products: ₹625.7 crores (15.5% YoY increase)
  • Realization per SQM: ₹264
  • Core EBITDA: ₹62.9 crores with core EBITDA margin of 10.05% (180 bps increase YoY from 8.24%)
  • Net profit: ₹38.1 crores
  • Volume growth: 6.1% YoY

MDF Business

  • Revenue: ₹173.9 crores (18.4% YoY increase)
  • Realization per CBM: ₹31,816
  • Core EBITDA without forex loss: ₹26.4 crores with core EBITDA margin of 15.2%
  • Net profit: ₹11.2 crores
  • Volume growth: 16.1% YoY

Greenply Samet JV

  • Total revenue: ₹14.08 crores (100% basis)
  • Share of PAT loss: ₹6.3 crores (50% share)

Key Financial Highlights - H1 FY27 (Consolidated)

  • Revenue: ₹1,524.6 crores, representing an 18.2% year-on-year (YoY) increase
  • Core EBITDA: ₹167.5 crores with an EBITDA margin of 11.0%
  • Net Profit: ₹80.3 crores

Segment-wise Performance - H1 FY27

Plywood Business (Greenply Standalone + Subsidiaries)

  • Revenue from Plywood & allied products: ₹1,152.3 crores (15.7% YoY increase)
  • Realization per SQM: ₹264
  • Core EBITDA: ₹107.3 crores with core EBITDA margin of 9.31% (120 bps increase YoY from 8.10%)
  • Net profit: ₹64.7 crores

MDF Business

  • Revenue: ₹369.6 crores (25.6% YoY increase)
  • Realization per CBM: ₹32,694
  • Core EBITDA without forex loss: ₹60.2 crores with core EBITDA margin of 16.3%
  • Net profit: ₹28.0 crores

Greenply Samet JV

  • Total revenue: ₹27.7 crores (100% basis)
  • Share of PAT loss: ₹12.1 crores (50% share)

Management Commentary

Mr. Sanidhya Mittal, JMD, Greenply Industries Ltd., commented that:

  • H1 FY27 results are fully in line with company guidance
  • Confidence in sustaining growth momentum across both Plywood and MDF businesses
  • Plywood focus: Strengthening premium category through product innovation and enhanced customer engagement
  • MDF focus: Value-added products and improved product mix to support margin expansion
  • Strategic priorities aim to drive sustainable revenue growth, improve profitability and deliver stronger bottom-line performance

Sustainability Initiative

  • Achieved VCS-validated agroforestry project in Gujarat and Nagaland
  • Transformed over 2,300 hectares of under-utilized land
  • Benefited more than 505 local farmers
  • Allotted 2,56,688 carbon credits for carbon sequestration efforts
  • Second stage planned to scale up to 12,000 hectares across both states

Company Background

Greenply Industries Limited (GIL) has leadership position in plywood industry with five manufacturing facilities. Product portfolio includes Plywood, MDF, blockboards, decorative veneers, flush doors, and furniture hardware through JV with Samet (Turkey). Distribution network includes over 3,000 dealers, 6,000+ retail network, and 60+ physical/virtual branches pan-India.