Greenply Industries Ltd

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Greenply Industr Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Greenply Industries Ltd

₹ 292 1.46%
26 Aug - close price
greenply.com BSE: 526797 NSE: GREENPLY
About

Greenply Industries Ltd is an interior-infrastructure company with products
spanning plywood and blockboards,
MDF and pre-laminated MDF, decorative veneers, flush and PVC/WPC doors, specialty plywood, HDF flooring and furniture fittings.
The group sells predominantly in India through a pan-India trade network.[1][2]

Key Points

Business Model:[1]
Greenply has evolved from a plywood-focused company into a broader wood-panels and interior-solutions business.[2]
The plywood model combines owned manufacturing with outsourced and traded products. Owned plants are used for quality- and margin-sensitive products, while outsourcing extends product availability and market coverage without equivalent capital investment. In Q1 FY27, own manufacturing contributed 68% of plywood volume and 73% of plywood value.[3]

Website BSE NSE
  • Market Cap ₹ 3,648 Cr.
  • Current Price ₹ 292
  • High / Low ₹ 337 / 176
  • Stock P/E 41.5
  • Book Value ₹ 71.9
  • Dividend Yield 0.17 %
  • ROCE 14.1 %
  • ROE 10.1 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 12.1% over last 3 years.
  • Dividend payout has been low at 7.02% 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

Consumer Discretionary Consumer Durables Consumer Durables Plywood Boards/ Laminates

Part of BSE Consumer Discretionary BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
405 466 442 454 439 502 462 498 438 521 501 563 497
378 436 415 425 419 472 436 467 417 497 473 518 472
Operating Profit 26 30 27 29 20 30 26 31 21 24 27 44 25
OPM % 6% 6% 6% 6% 4.6% 6% 6% 6% 4.7% 4.6% 5% 8% 5%
6 7 17 11 16 12 13 9 11 9 5 -8 11
Interest 2 2 1 2 2 1 1 2 2 3 2 3 1
Depreciation 5 5 6 6 6 6 6 6 6 6 6 6 6
Profit before tax 26 30 37 33 28 35 32 31 24 25 25 27 28
Tax % 25% 26% 25% 24% -4% 26% 25% 20% 22% 26% 27% 31% 25%
19 22 27 25 30 26 24 25 19 18 18 19 21
EPS in Rs 1.55 1.79 2.22 2.00 2.39 2.11 1.95 2.00 1.49 1.46 1.44 1.51 1.70
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1,564 1,714 1,663 891 1,284 1,268 1,015 1,377 1,643 1,767 1,901 2,022 2,081
1,355 1,468 1,408 819 1,162 1,139 918 1,246 1,505 1,655 1,794 1,906 1,961
Operating Profit 209 247 256 72 122 128 98 130 138 112 107 116 120
OPM % 13% 14% 15% 8% 10% 10% 10% 9% 8% 6% 6% 6% 6%
15 5 2 99 4 -44 8 13 17 41 49 18 18
Interest 38 30 18 6 15 17 11 6 6 7 6 10 9
Depreciation 47 49 49 15 19 21 17 19 21 22 22 23 24
Profit before tax 139 173 191 149 93 46 78 119 128 125 127 101 105
Tax % 12% 24% 29% 9% 34% 29% 26% 25% 15% 25% 18% 27%
122 131 135 136 61 33 58 89 109 93 105 74 76
EPS in Rs 10.11 10.87 11.02 11.07 5.00 2.66 4.73 7.24 8.90 7.55 8.41 5.89 6.11
Dividend Payout % 6% 6% 5% 5% 8% 15% 8% 7% 6% 7% 6% 8%
Compounded Sales Growth
10 Years: 2%
5 Years: 15%
3 Years: 7%
TTM: 10%
Compounded Profit Growth
10 Years: -4%
5 Years: 8%
3 Years: -9%
TTM: -12%
Stock Price CAGR
10 Years: 3%
5 Years: 10%
3 Years: 20%
1 Year: -5%
Return on Equity
10 Years: 15%
5 Years: 14%
3 Years: 12%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 12 12 12 12 12 12 12 12 12 12 12 12
Reserves 472 601 775 903 319 345 398 496 617 711 817 885
332 255 426 652 144 155 70 51 25 61 63 53
331 320 320 489 297 282 257 288 298 348 488 427
Total Liabilities 1,146 1,188 1,533 2,056 772 793 737 846 952 1,133 1,380 1,378
533 530 501 483 169 200 191 185 184 190 190 190
CWIP 14 9 216 770 6 4 5 1 7 4 4 7
Investments 33 38 72 76 42 44 45 228 219 236 278 451
567 611 743 727 556 545 496 432 542 702 909 731
Total Assets 1,146 1,188 1,533 2,056 772 793 737 846 952 1,133 1,380 1,378

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
187 205 217 132 130 35 218 108 135 50 54 103
-104 -68 -364 -305 -61 -19 -114 -87 -89 -75 -59 -67
-82 -111 187 132 -81 -24 -99 -25 -37 25 -8 -27
Net Cash Flow 1 25 40 -41 -12 -8 5 -3 9 0 -13 9
Free Cash Flow 101 148 -114 -168 75 13 206 96 120 28 38 72
CFO/OP 103% 98% 101% 241% 128% 49% 238% 108% 100% 76% 76% 112%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 60 71 66 116 81 89 59 42 43 47 56 63
Inventory Days 76 51 66 140 64 68 79 75 60 72 106 67
Days Payable 92 92 86 137 110 103 121 96 84 94 126 98
Cash Conversion Cycle 45 30 46 119 35 53 17 21 20 25 37 32
Working Capital Days 17 23 16 13 17 25 16 12 22 43 35 39
ROCE % 16% 25% 20% 12% 11% 23% 18% 24% 23% 16% 17% 14%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Plywood Capacity Utilization
%

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Plywood Installed Capacity
Mn SQM pa
Plywood Realization
Rs/Sqm
Plywood Sales Volume
Million Sq. Meters (MSM)
Plywood Own Manufacturing Mix
% of volume
MDF Installed Capacity
CBM/Annum
MDF Realization
Rs/CBM
MDF Sales Volume
CBM

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
52.12% 51.97% 52.00% 52.01% 52.01% 51.66% 51.69% 51.69% 51.69% 51.80% 51.90% 51.93%
2.07% 4.10% 4.13% 4.91% 5.60% 5.76% 5.42% 4.52% 4.49% 4.35% 4.19% 4.44%
32.39% 29.76% 30.31% 30.33% 30.66% 30.91% 31.05% 32.41% 32.41% 32.12% 31.83% 31.42%
13.41% 14.16% 13.54% 12.75% 11.73% 11.69% 11.85% 11.38% 11.42% 11.74% 12.10% 12.22%
No. of Shareholders 49,20446,17951,37548,07354,00752,91853,46553,18252,56352,37653,76752,337

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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