Greenply Industries Limited — Investor Meet, 06-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Greenply’s Q2 consolidated revenue grew 7.5% YoY to INR 688.6 Cr, with H1 revenue up 5.3% to INR 1,289.4 Cr. Consolidated Q2 core EBITDA margin was 8.2%, impacted by a temporary MDF capacity expansion shutdown and inventory liquidation.

Management expects a strong H2 rebound, projecting MDF margins to reach 16%+, leveraging enhanced capacity (now 1,000 CBM/day). The Plywood segment aims for 10%+ H2 volume growth, supported by BIS implementation benefits and internal efficiencies. Full-year plywood volume growth is projected at 6.5-7% with ~8.5% EBITDA margin.

The furniture and fittings JV targets INR 100 Cr turnover next year. FY26 capex is projected at INR 155-160 Cr. Management maintains a confident outlook for H2 performance.