| P/E TTM | 37.77Sector: 41.11 |
|---|---|
| Market Cap | ₹3,724.6 CrForest Products |
| Promoter Holding | 51.93%Stable |
| RSI | 48.51Neutral |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 800 | 725 | 689 |
| Other Income | 3.5 | 1.8 | 1.8 |
| Total Income | 803 | 727 | 690 |
| Profit Before Tax | 56.9 | 49.5 | 23.3 |
| Net Profit | 42.7 | 37.6 | 16.0 |
| Operating Margin | 7.1% | 6.8% | 3.4% |
| Net Profit QoQ | +13.6% | ||
| Net Profit YoY | +166.9% | ||
| Adj. Profit QoQ | +11.8% | ||
| Adj. Profit YoY | +117.9% | ||
Key highlights
- Consolidated revenue from operations increased 16% YoY to ₹800 crore
- Net profit grew 166.9% YoY to ₹42.7 crore from ₹16.0 crore in the year-ago quarter
- Operating margins improved significantly to 7.1% compared to 3.4% in Q2 FY26
- Board approved a new capacity expansion of 15 million sq. m at the Sandila facility
- Investment of approximately ₹125 crore planned for the Hardoi, Uttar Pradesh unit expansion
Top-line and Bottom-line Growth Momentum
Greenply Industries Limited delivered a robust financial performance in Q2 FY27, characterized by significant scale-up in both revenue and profitability. Consolidated revenue from operations rose to ₹800 crore, a 16% increase over the ₹689 crore recorded in the same quarter last year. The profit trajectory was even steeper, with net profit climbing 167% YoY to ₹42.7 crore.
This growth reflects sustained demand in the forest materials sector and improved operational efficiency, as evidenced by the operating margin doubling from 3.4% to 7.1% year-on-year. Sequentially, net profit saw a steady 13.6% rise from the ₹37.6 crore reported in the June 2026 quarter.
Expansion Strategy and Infrastructure Milestones
- Approved addition of 15 million sq. m annual capacity at the Sandila unit in Uttar Pradesh
- Estimated investment of ₹125 crore for Sandila expansion through loans and equity
- Target completion for the Sandila capacity addition set for Q4 FY28
- Greenfield plywood plant in Koraput, Odisha (13.5 mn sq. m) on track for Q4 FY27 start
- Total group assets reached ₹2,177.43 crore as of September 30, 2026
- Approved infusion of up to ₹30 crore equity into Greenply Sandila Private Limited
Management Outlook on Capacity Utilization
The Company expects the near-term demand for plywood and allied products to exceed the available capacity that the Company, along with its subsidiaries, presently has. Accordingly, the Company's Wholly Owned Subsidiary decided to increase its production capacity.
Leadership and Statutory Appointments
Parallel to its quarterly results, Greenply announced several key leadership and organizational changes. The board appointed Gaurav Drolia as Executive Vice President and Chief Strategy Officer, effective October 31, 2026. Drolia, a Chartered Accountant with over 20 years of experience, will lead corporate restructuring and business acquisition strategies.
Furthermore, the company initiated the process to appoint MSKA & Associates LLP as Statutory Auditors for a five-year term commencing from the conclusion of the 37th Annual General Meeting in 2027, succeeding the current auditors, B S R & Co. LLP.
| Date | Announcement | Amount |
|---|---|---|
| 24 Jul 2026 | Q1 FY27 consolidated net profitSource: sahi.com | ₹37.61 Cr |
| 04 Feb 2026 | Q3 FY26 consolidated net profitSource: moizz.in | ₹14.34 Cr |
| 04 Nov 2025 | Q2 FY26 consolidated net profitSource: moizz.in | ₹15.98 Cr |
| 29 Jul 2025 | Q1 FY26 consolidated net profitSource: moizz.in | ₹28.46 Cr |
| 28 Apr 2025 | Q4 FY25 consolidated net profitSource: moizz.in | ₹16.60 Cr |
What to watch next
- Commissioning of the Greenfield plywood plant at Semiliguda, Odisha in Q4 FY27
- Final commissioning of the Sandila capacity expansion project by Q4 FY28
- Shareholder approval for revised remuneration of CMD Rajesh Mittal and JMD Sanidhya Mittal
- Realization of management's FY27 volume growth guidance of 25-30% for the MDF segment
“The Company's business activity fall within a single operating segment, namely 'Plywood and allied products'.”
| Share price | ₹298.2 |
|---|---|
| Market capitalisation | ₹3,724.58 Cr |
| Revenue (annual) | ₹2,739.04 Cr |
| Net profit (annual) | ₹89.53 Cr |
| Revenue (latest quarter) | ₹724.89 Cr-6.62% vs previous quarter |
| Net profit (latest quarter) | ₹37.52 Cr+22.11% vs previous quarter |
| P/E (TTM) | 37.77×Sector 41.11× |
| Promoter holding | 51.93%0.00% QoQ |
| FII holding | 4.66%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Greenply Industries Limited announcing its un-audited standalone and consolidated financial results for Q2 FY27. Market figures from a third-party data provider.
