Greenply Industries Reports 32% Jump in Q1 FY27 Net Profit to ₹37.6 Crore; Revenue Up 21% YoY to ₹724.9 Crore

Leading interior infrastructure manufacturer Greenply Industries Limited (NSE: GREENPLY, BSE: 532894) announced its consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27). Driven by strong volume expansion across both its core plywood and medium density fibreboard (MDF) businesses, the company registered a 20.7% year-on-year (YoY) increase in revenue alongside a 32.2% surge in net profit.

Executive Financial Highlights

Revenue from Operations: Reached ₹724.89 crore (₹72,488.64 lakh), up 20.7% YoY from ₹600.81 crore in Q1 FY26. Sequentially, revenue reflected seasonal variations against ₹776.25 crore in Q4 FY26.

Core EBITDA: Rose 27.1% YoY to ₹78.30 crore, compared to ₹61.60 crore in Q1 FY26.

Core EBITDA Margin: Expanded by 50 basis points to 10.8%, up from 10.3% in the corresponding quarter of the previous year.

Profit Before Tax (PBT): Climbed 36.7% YoY to ₹49.46 crore (₹4,945.53 lakh), compared to ₹36.18 crore in Q1 FY26 and ₹43.83 crore in Q4 FY26.

Profit After Tax (PAT): Surged 32.2% YoY to ₹37.61 crore (₹3,761.10 lakh), up from ₹28.46 crore in Q1 FY26 and ₹31.00 crore in Q4 FY26.

Earnings Per Share (EPS): Basic and diluted EPS improved to ₹3.01 per share (face value ₹1/- each) from ₹2.28 in Q1 FY26 and ₹2.48 in Q4 FY26.

Divisional & Segment Performance

1. Plywood and Allied Products

Segment Revenue: Rose 16.0% YoY to ₹526.60 crore (segment gross revenue stood at ₹531.09 crore before inter-segment adjustments), driven by a 13.8% YoY volume growth.

Realization: Average realization per square meter stood at ₹265.

Core EBITDA: Reached ₹44.50 crore, with core EBITDA margins expanding by 50 bps YoY to 8.4% (versus 7.9% in Q1 FY26).

Segment Net Profit: Contributed ₹26.60 crore to overall profit.

2. Medium Density Fibreboard (MDF) and Allied Products

Segment Revenue: Surged 32.8% YoY to ₹195.70 crore (segment gross revenue stood at ₹195.67 crore), backed by a 24.7% YoY volume expansion.

Realization: Average realization per cubic meter (CBM) was recorded at ₹33,525.

Core EBITDA (Excluding Forex Loss): Stood at ₹33.90 crore, yielding a core EBITDA margin of 17.3%.

Segment Net Profit: Stood at ₹16.80 crore.

3. Greenply Samet Joint Venture

Total Revenue (100% Entity): Generated ₹13.61 crore.

Share of PAT Loss: Greenply's 50% share of loss in the equity-accounted joint venture amounted to ₹5.74 crore (₹573.79 lakh), showing an improvement from a loss share of ₹9.15 crore in Q1 FY26.

Expense Breakdown

Total consolidated operating expenditure for Q1 FY27 came in at ₹671.51 crore (₹67,151.10 lakh), compared to ₹573.09 crore in Q1 FY26:

Cost of Materials Consumed: ₹292.72 crore (versus ₹267.19 crore in Q1 FY26).

Purchase of Stock-in-Trade: ₹123.23 crore (versus ₹110.48 crore in Q1 FY26).

Changes in Inventories: Adjustment of ₹0.95 crore.

Employee Benefits Expense: Increased to ₹98.88 crore from ₹81.10 crore in Q1 FY26.

Finance Costs: Reduced significantly by 59.6% YoY to ₹7.49 crore (compared to ₹18.51 crore in Q1 FY26).

Depreciation & Amortization: Reported at ₹17.43 crore.

Other Operating Expenses: Totaled ₹130.80 crore.

Balance Sheet & Asset Position

As of June 30, 2026, Greenply Industries reported total segment assets of ₹2,035.33 crore (₹2,03,533.17 lakh) against total segment liabilities of ₹1,102.34 crore (₹1,10,233.63 lakh). Plywood segment assets stood at ₹1,128.43 crore, while MDF segment assets expanded to ₹831.38 crore. Total paid-up equity share capital remained steady at ₹12.49 crore.

Commenting on the performance for Q1 FY27, Mr. Sanidhya Mittal, JMD, Greenply Industries Ltd. Said "Greenply remains firmly on track to achieve its full-year guidance, backed by a robust 20.7% year-onyear growth in consolidated revenue, our Plywood business continues to exhibit healthy volume momentum, while our MDF segment delivered an exceptional 32.8% increase in revenue.

True progress, however, must be sustainable. With the launch of our permanent 'One Sheet, One Tree' initiative, we are embedding ecological responsibility directly into our supply chain. For every plywood sheet supplied across India, we plant a tree, ensuring our corporate footprint fosters a greener, more resilient India as we continue to scale.

Our joint venture, Greenply Samet doubled its revenue from the corresponding quarter last year and we are confident that this business will witness significant growth in this year, supported by expanding market presence and improving customer acceptance."

Shares of Greenply Industries Limited was last trading in BSE at Rs. 320.95 as compared to the previous close of Rs. 329.95. The total number of shares traded during the day was 11260 in over 374 trades.

The stock hit an intraday high of Rs. 331.00 and intraday low of 319.95. The net turnover during the day was Rs. 3657525.00.

Source : Equity Bulls

Keywords

GreenplyIndustries INE461C01038 Q1FY27 Q1FY2027 ResultUpdate