Net profit of Greenply Industries declined 41.91% to Rs 16.48 crore in the quarter ended March 2025 as against Rs 28.37 crore during the previous quarter ended March 2024.
The Company has approved setting-up of a new manufacturing facility at Vadodara (Gujarat) by its WOS – GSPPL, for PVC/WPC Door, Frame and Board. This would be the company's first plant to be set-up for manufacturing of PVC/WPC Door, Frame and Board. The Proposed capacity addition would be 9.18mn kg p.a.
The addition of this capacity is expected by fourth quarter Q 4 FY26. Mgmt. expects to incur a capex of Rs 360mn towards this plant, which would be funded via internal accruals/equity and bank borrowings. The purpose of venturing into the new segment is catering the increased demand of value-added products like PVC/WPC Door, Frame and Board.
As per the report, the rise in the sales is reported at 8.17% to Rs 648.77 crore in the quarter ended March 2025 as against Rs 599.79 crore during the previous quarter ended March 2024. Net profit of Greenply Industries declined 41.91% to Rs 16.48 crore in the quarter ended March 2025 as against Rs 28.37 crore during the previous quarter ended March 2024.
For the full year, net profit rose 30.97% to Rs 91.63 crore in the year ended March 2025 as against Rs 69.96 crore during the previous year ended March 2024. Sales rose 14.11% to Rs 2487.58 crore in the year ended March 2025 as against Rs 2179.92 crore during the previous year ended March 2024.
Apart from this, the company has approved disinvestment in its associate entity – Greenply Middle East. This will reduce the company's stake from 49% to 19%. GMEL’s revenues stood at Rs 1.92bn, while contribution to company’s financials was Nil. The agreement is expected to be completed by August 01, 2025, while an amount of ~USD 492k is expected from the sale.
[Published in Ply Reporter's June 2025 Print Issue]