Greenpanel Net Profit Posts Sharp Increase

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Greenpanel Industries total income increased by 30% to Rs 81crore from Rs 236.19 crore to Rs 317.33 crore in quarter ended 31 December of financial year 20-21 to its corresponding period last year. The net profit increased from Rs 45.86 lakh to Rs 30.45 crore and the revenue from operations increased from Rs235.38 crore to Rs 317 crore in the same period in three months quarter ended correspondingly. The segment wise revenue collections were Rs 58.52 crore to 62 crore this year Q3 from Plywood and allied products while in MDF and allied products it observed a robust growth of Rs 78 crore this year Q3 from Rs 177 crore last year Q3 to Rs 254 crore.

“For growth, the work done by our team is commendable. We worked day-in day-out to achieve this growth, though in May 2020 when we reopened there was almost no business. In the Q1 we were at Rs 30 Cr sales that reached Rs 100 Cr in Q3. With all positivity and demand from furniture segment and other factors, MDF has become a hot selling product now,” said Mr Shekhar Sati, President (Sales), MDF & Flooring Division, Greenpanel Industries Ltd.

Greenpanel is India’s largest manufacturer of wood panels and has state-of-art manufacturing plants in Uttarakhand and Andhra Pradesh that produce MDF, Plywood, Block Board, Veneers, Floorings and Doors. The MDF manufacturing capacity at Greenpanel is 5.5 lakh cbm/ annum. It is complimented with their robust distribution network of over 3000 dealers across the country. They have a reputed history of 10 years now. They are known as product innovators in India so that trust is also there

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