Greenply Profit Registers Up In Q3

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Greenply Industries – a leading brand with over 30 years of experience in manufacturing compressive range of plywood, block board, decorative veneers, flush doors and other allied products has projected consolidated net profit during the quarter ended three months on December 31, 2020 grew to Rs 25.0 crore from Rs 21.3 crore last year in the corresponding period of quarter ended three months last year. The revenue from operation has decreased from Rs 346 crore to 340.4 crore.

On sequential basis, the net profit jumped by 34% from Rs 18.55 crore. Greenply share closed at Rs 133.45 on February 10, 2021 (NSE) and has given 59.06% returns over the last 6 months. Recently in January 2021 they launched their premium collection of Italian dyed veneers “Farbivo”. The company was expecting improvement in margin from FY22 with increase in revenue and cost rationalization measures post Covid-19.

They observe that the rising residential/ commercial construction, increasing urbanization, high disposable incomes, GST Implementation and Government announcement regarding construction of 100 smart cities will be the key drivers for strong demand. As an effort towards clean and green living, Greenply Industries are coming up with more such product range which will promote aesthetic living among the consumer base.

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