ICICI Securities Ltd | Retail Equity Research We attended the analyst meet of Greenply Industries (GIL). Key takeaways are:- (i) MDF division may drive future growth with management aiming to commission new Andhra facility by July, 2018, (ii) Plywood division is expected to grow at 12-15% CAGR in the next two years with benefits of GST, (iii) New UP plywood capacity (13.5 MSM) and Gujarat decorative veneer unit is expected to be commissioned in Q3FY19E, (iv) Reduction in GST rates from 28% to 18% and scheduled implementation of e-way bill...