Greenply Industries Ltd
Established in 1990, [1] Greenply Industries Limited is amongst the leading plywood manufacturers in India with a 26% share of the organized market. Greenply offers a wide range of panel products including plywood, block boards, decorative veneers, doors, and film-faced plywood, among others. [2]
- Market Cap ₹ 3,526 Cr.
- Current Price ₹ 282
- High / Low ₹ 412 / 229
- Stock P/E 31.9
- Book Value ₹ 66.4
- Dividend Yield 0.18 %
- ROCE 16.7 %
- ROE 14.2 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
Cons
- The company has delivered a poor sales growth of 8.44% over past five years.
- Earnings include an other income of Rs.48.6 Cr.
- Dividend payout has been low at 6.06% of profits over last 3 years
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Plywood Boards/Laminates Industry: Miscellaneous
Part of BSE SmallCap BSE Allcap Nifty Microcap 250 Nifty Total Market BSE Consumer Discretionary
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,160 | 1,564 | 1,714 | 1,663 | 891 | 1,284 | 1,268 | 1,015 | 1,377 | 1,643 | 1,767 | 1,901 | |
1,895 | 1,355 | 1,468 | 1,408 | 819 | 1,162 | 1,139 | 918 | 1,246 | 1,505 | 1,655 | 1,794 | |
Operating Profit | 265 | 209 | 247 | 256 | 72 | 122 | 128 | 98 | 130 | 138 | 112 | 107 |
OPM % | 12% | 13% | 14% | 15% | 8% | 10% | 10% | 10% | 9% | 8% | 6% | 6% |
3 | 15 | 5 | 2 | 99 | 4 | -44 | 8 | 13 | 17 | 41 | 49 | |
Interest | 61 | 38 | 30 | 18 | 6 | 15 | 17 | 11 | 6 | 6 | 7 | 6 |
Depreciation | 58 | 47 | 49 | 49 | 15 | 19 | 21 | 17 | 19 | 21 | 22 | 22 |
Profit before tax | 149 | 139 | 173 | 191 | 149 | 93 | 46 | 78 | 119 | 128 | 125 | 127 |
Tax % | 23% | 12% | 24% | 29% | 9% | 34% | 29% | 26% | 25% | 15% | 25% | 18% |
114 | 122 | 131 | 135 | 136 | 61 | 33 | 58 | 89 | 109 | 93 | 105 | |
EPS in Rs | 9.50 | 10.11 | 10.87 | 11.02 | 11.07 | 5.00 | 2.66 | 4.73 | 7.24 | 8.90 | 7.55 | 8.41 |
Dividend Payout % | 6% | 6% | 6% | 5% | 5% | 8% | 15% | 8% | 7% | 6% | 7% | 6% |
Compounded Sales Growth | |
---|---|
10 Years: | 2% |
5 Years: | 8% |
3 Years: | 11% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | 0% |
5 Years: | 12% |
3 Years: | 8% |
TTM: | 31% |
Stock Price CAGR | |
---|---|
10 Years: | 5% |
5 Years: | 22% |
3 Years: | 10% |
1 Year: | 10% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 16% |
3 Years: | 15% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
Reserves | 571 | 472 | 601 | 775 | 903 | 319 | 345 | 398 | 496 | 617 | 711 | 817 |
674 | 332 | 255 | 426 | 652 | 144 | 155 | 70 | 51 | 25 | 61 | 63 | |
466 | 331 | 320 | 320 | 489 | 297 | 282 | 257 | 288 | 298 | 348 | 488 | |
Total Liabilities | 1,723 | 1,146 | 1,188 | 1,533 | 2,056 | 772 | 793 | 737 | 846 | 952 | 1,133 | 1,380 |
685 | 533 | 530 | 501 | 483 | 169 | 200 | 191 | 185 | 184 | 190 | 190 | |
CWIP | 95 | 14 | 9 | 216 | 770 | 6 | 4 | 5 | 1 | 7 | 4 | 4 |
Investments | 31 | 33 | 38 | 72 | 76 | 42 | 44 | 45 | 228 | 219 | 236 | 278 |
911 | 567 | 611 | 743 | 727 | 556 | 545 | 496 | 432 | 542 | 702 | 909 | |
Total Assets | 1,723 | 1,146 | 1,188 | 1,533 | 2,056 | 772 | 793 | 737 | 846 | 952 | 1,133 | 1,380 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
205 | 187 | 205 | 217 | 132 | 130 | 35 | 218 | 108 | 135 | 50 | 54 | |
-160 | -104 | -68 | -364 | -305 | -61 | -19 | -114 | -87 | -89 | -75 | -59 | |
-52 | -82 | -111 | 187 | 132 | -81 | -24 | -99 | -25 | -37 | 25 | -8 | |
Net Cash Flow | -7 | 1 | 25 | 40 | -41 | -12 | -8 | 5 | -3 | 9 | 0 | -13 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 59 | 60 | 71 | 66 | 116 | 81 | 89 | 59 | 42 | 43 | 47 | 56 |
Inventory Days | 109 | 76 | 51 | 66 | 140 | 64 | 68 | 79 | 75 | 60 | 72 | 106 |
Days Payable | 94 | 92 | 92 | 86 | 137 | 110 | 103 | 121 | 96 | 84 | 94 | 126 |
Cash Conversion Cycle | 74 | 45 | 30 | 46 | 119 | 35 | 53 | 17 | 21 | 20 | 25 | 37 |
Working Capital Days | 56 | 48 | 44 | 42 | 82 | 44 | 56 | 27 | 21 | 25 | 54 | 44 |
ROCE % | 18% | 16% | 25% | 20% | 12% | 11% | 23% | 18% | 24% | 23% | 16% | 17% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
3h - Greenply reports Q4 FY25 revenue INR649 Cr, 8.2% growth; FY25 revenue INR2488 Cr, 14.1% growth; guides double-digit growth FY26.
- Independent Auditors'' Certificate in compliance with Exemption Order dated October 20, 2022 2d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Audio recording of Greenply Q4 FY2025 earnings call available online.
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Appointment Of Secretarial Auditors Of The Company For The Period Of Five Consecutive Years Commencing From FY 2025-26 Till FY 2029-30.
28 Apr - Appointed SP & SA Associates as Secretarial Auditors for FY 2025-26 to FY 2029-30, subject to shareholder approval.
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Intimation Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Noting Of Resignation Of Chief Financial Officer (CFO) Of The Company.
28 Apr - CFO Nitinkumar Kalani resigns effective April 29, 2025; board appreciates his contributions.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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May 2025Transcript PPT
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Nov 2016Transcript PPT
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Aug 2016TranscriptPPT
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Product Portfolio
The Co.’s product portfolio comprises plywoods and blockboards, decorative veneers, flush doors, specialty plywood, and Polyvinyl Chloride (PVC) products. [1]