Forest Products company Greenply Industries announced Q3FY25 results Revenue at Rs 614 crore, grew by 5.6% on YoY basis. Core EBITDA was Rs 54 crore, EBITDA margin of 8.8 % and a YoY growth of 7.2%. PAT at Rs 24 crore. Manoj Tulsian, JMD & CEO, Greenply Industries, said: “We have been consistently seeing growth in our plywood business for last few years, but the Q3 numbers have been lower than the trend seen recently. We are confident that it will rebound in Q4 and also believe in improving margin in Q4 to about 10%. In the MDF business, we faced an unforeseen plant shutdown in the quarter due to equipment failure. In the fourth quarter we believe that the revenue will be substantially better and margins to be stronger at about 16%. We have received all the equipments, and the production has started at our furniture fittings JV. We are hopeful of building a reasonable revenue number in Q4." Result PDF
Forest Products company Greenply Industries announced Q2FY25 results Revenue at Rs 640.5 crore, grew by 12.8% on YoY basis. Core EBITDA was Rs 57.6 crores, EBITDA margin of 9.0% and a YoY growth of 19.6%. PAT at Rs 17.6 crore. The PAT was negatively impacted due to MTM loss of Rs 4.6 crore, share of loss from our furniture & fittings JV amounting to Rs 3.5 crore and share of loss of Rs 0.9 crore from our Middle East associate. Manoj Tulsian, JMD & CEO, Greenply Industries said: “We have been consistently seeing growth in our plywood business for last few years, however, pressure on margins continues to persist due to high raw material costs and product mix change. We are continuously working on means & methods to improve our margins. In the MDF business, our revenue de-grew on a QoQ basis due to the plant shutdown and power cuts in Gujarat. We are confident of delivering much better performance in the second half and hence achieving our guidance of revenue growth of 50% on a full year basis. Our Furniture & Fittings JV is likely to see full phase 1 product range manufacturing from November’24 as we have successfully installed all the equipment and completed trial production.” Result PDF