Greenply Industries Ltd’s consolidated net profit rises by 17.21% to Rs 28.64 crore in Q4 FY21 compared to the net loss of Rs 21.50 crore in Q4 FY20. The Net sales jumped 15.1% to Rs 396.70 crore in Q4 FY21 from Rs 344.70 crore in Q4 FY20. Pre-tax profit stood at Rs 39.17 crore in Q4 FY21 as against pre-tax loss of Rs 30.33 crore in Q4 FY20. During the financial year, Greenply Industries' consolidated net profit jumped 28.91% to Rs 60.91 crore on 17.95% decrease in revenue from operations to Rs 1,165.34 crore in FY 2021 over FY 2020.
Commenting on the Q4 FY2021 performance, Mr. Rajesh Mittal, the Chairman and Managing Director of Greenply Industries, said, "Our new product line such as E-0 is testament of our focus on providing healthy and environment-friendly products to our consumers. Our new captive consumption plant in Lucknow, will drive profitability and enhances logistics supply chain efficiencies. We are in process of transformational journey in terms of people, products, processes, market reach, profitability, credit discipline, working capital management etc. These initiatives will yield results in the long run and make Greenply, a stronger organisation."
Greenply Industries enjoys leadership position in plywood around 26% of the organized plywood market in India. The company has three manufacturing facilities for plywood spread across the country producing world class interior products for the domestic and global markets. Recently the Board of Greenply Industries has approved incorporation of subsidiary to be established in UP with a capex plans worth Rs 75 cr which have been approved.