NSE: GREENPLY · BSE: 526797 · ISIN INE461C01038
Greenply Industries Limited stock analysis
Greenply Industries Limited ranks #1543 in the TickerSutra evidence-ranked universe with a score of 52/100 and 95% data confidence. The latest captured fundamentals show ROCE of 14.3%, quarterly sales growth of 20.6% and quarterly profit growth of 50.5%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.02×
- 18.1% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,563cr | ₹150cr | ₹95cr | 10.0% |
| 2023 | ₹1,663cr | ₹133cr | ₹91cr | 8.0% |
| 2024 | ₹2,180cr | ₹185cr | ₹70cr | 9.0% |
| 2025 | ₹2,488cr | ₹204cr | ₹92cr | 8.0% |
| 2026 | ₹2,739cr | ₹242cr | ₹90cr | 9.0% |
| TTM | ₹2,863cr | ₹261cr | ₹99cr | 9.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
Overall, we remain optimistic about the demand outlook and the momentum across our businesses. With our expanding manufacturing footprint, strengthened brand portfolio, and unwavering focus on operational excellence, we are confident of sustaining our grow th trajectory. We are confident to achieve the target of 10% volume growth in plywood and 25% to 30% volume growth in MDF segment for the full year and remain comm
This realization improvement -- the realization improved from INR33,525 per CBM, a growth of 9.9% on a Q -on-Q basis. Margins for the quarter stood at 17.3%, supported by higher sales and operating leverage. Moving on to the furniture and fittings JV.
The JV reported a PAT loss of INR11.48 crores in Q1 FY27, with our share of loss amounting to INR5.74 crores. I'm pleased to announce that in the MDF segment commercial production of new flooring manufacturing line commenced successfully on 20 July 2026. This is marking another significant milestone in our growth journey.
The ongoing geopolitical tensions and the recent conflict in the Middle East resulted in elevated imported chemical prices, extending the sharp cost pressures observed towards the end of Q4 FY26. This necessitated price increase across the industry, as this situation gradually improved and supply chains normalized during the second half of first quarter FY27, input costs began to moderate. Consequently, the effective
BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com respectively. The Company has made arrangements to send the Annual Report and Notice of AGM electronically to shareholders whose email addresses are registered with the Company/Depositories, in compliance with applicable regulatory requirements. Thank you for your continued support.
This is marking another significant milestone in our growth journey. Our expansion projects, including the new MDF facility at Vadodara and the new greenfield plywood manufacturing facility in Orissa are progressing as planned and remain on track for commissioning within the committed timelines. On the balance sheet front, we continue to maintain a prudent financial position while investing for future growth.
So, you know, if absolute so the moment we start reaching the Q4 Greenply Industries Limited July 24, 2026 Page 4 of 15 numbers, which is anywhere close to 600 and 600 plus every quarter, I think 10% plus is very easily achievable. Sneha: Could we aim that from coming quarter or for annual number are you comfortable giving 10% as the margin guidance? Sanidhya Mittal: I think we still are very confident on the 10% mar
My question was about of this plywood volume growth. How much was the genuine demand recovery versus how much was actually from the market share gain from the unorganized players? Sanidhya Mittal: So I think if you look at the overall plywood numbers, I think 13.8% was a volume growth and value growth was about 16%.
MANAGEMENT PROMISE LEDGER
Quantified statements on the clock
“Sneha: Could we aim that from coming quarter or for annual number are you comfortable giving 10% as the margin guidance? Sanidhya Mittal: I think we still are very confident on the 10% margin guidance that we've given. The only challenge that, you know, we had in Q1 was that, you know, we lost out on sales.”
“And in MDF I don't think it's practical to go above 80 %, 82%. So that will be the kind of target that, you know, at this year we'll want to operate our plant at full capacity, assuming that, you know, next year will be the new capacity addition and we should be already ready to kind of sell the new capacity we'r e going to bring in. Disha Chhabria: Okay, so the demand is really strong, we missed a bit of the demand,”
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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