Greenply Industries Reports Decline in Q4 Profits but Annual Gains

Greenply Industries Ltd reported a 41.45% drop in consolidated net profit for the March quarter, with revenue up 8.16%. Despite challenges, margins in the plywood and MDF sectors improved. However, annual profit grew by 31.12%, with shares settling at Rs 288.50, down by 2.68%.

Greenply Industries Ltd, a prominent player in the plywood sector, experienced a 41.45% drop in consolidated net profits for the March quarter, bringing it down to Rs 16.60 crore. This marks a decrease from Rs 28.36 crore recorded during the same period last year, according to their latest regulatory filing.

In stark contrast, the company's revenue from operations climbed to Rs 648.77 crore, up by 8.16% compared to the preceding year. Commenting on these financial results, JMD & CEO Manoj Tulsian noted satisfactory growth amid challenging market conditions, with margins improving to 9.2% in Q4 for the plywood business and reaching 15% for the MDF sector.

For the fiscal year 2024-2025, Greenply reported a robust profit increase of 31.12%, totaling Rs 91.72 crore. Their consolidated revenue also saw a 14.11% rise, amounting to Rs 2,487.58 crore. Despite these gains, Greenply's shares fell by 2.68% to settle at Rs 288.50 on Monday.

(With inputs from agencies.)