MDF Demand Recovery Helping Greenpanel Sales

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Greenpanel Industries is expecting better sales turnover in coming quarter with improving demand of MDF every month post Covid. The company has confident of achieving Rs. 192 Cr sales in Q2FY21 (July to September 20) same as last year with margins of 15-16%.

As per report, Greenpanel achieved Rs 51 Cr of sales versus Rs. 57 Cr sales last year same period in June month and there was improvement in the month of July to Rs 60 Cr – compared to Rs 66 cr last year. In the OEMs segment, the company has taken slight price increase and recovery on MDF is better than plywood.

While the company sees possibility of doing Rs 16- 17 cr revenues in plywood segment every month, its expecting 10% fall in MDF revenues in FY21.

Greenpanel Industries is leading producer of MDF in India with manufacturing facilities in Uttarkhand and Andhra Pradesh. Its AP MDF manufacturing unit is the largest unit in India. The company also into value added MDF products such Laminated Flooring, Pre-lam Boards, UV coated Panels etc. Greenpanel also produces Plywood, Decorative Veneers in its Rudrapur, UT manufacturing facilities.

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