Greenpanel Industries Limited — PPTs, 10-11-2025: Investor Presentation

Greenpanel, India's largest wood panel manufacturer, saw robust Q2FY26 performance.

**Business Performance:** Revenue grew 17.1% year-on-year to ₹389.4 Cr, primarily fueled by strong domestic MDF volume growth of 30.5%. However, the company reported a net loss of ₹6.1 Cr.

**Growth Drivers or Strategy:** The company intensely focused on sales & marketing, energizing teams, strengthening distribution through initiatives like the MITR 2.0 app and dealer engagements, and enhancing digital outreach. Cost optimization efforts, including raw material rationalization and improved efficiencies, also contributed to profitability gains.

**Recent Developments:** Greenpanel launched new products like HDWR Door, Thin MDF, and FRMDF during the quarter. Credit ratings were reaffirmed at A+.

**Key Financial Metrics:** Operating EBITDA jumped significantly to ₹39.7 Cr, achieving a 10.2% margin (up from 4.0% in Q1FY26). The Cash Conversion Cycle dramatically improved to 30 days from 47 days last quarter. Net debt reduced by ~₹60 Cr to ₹173 Cr.

**Management Commentary / Outlook:** The net loss was largely due to currency losses on Euro borrowings and higher depreciation and interest costs from the new MDF plant. Management emphasized that leverage and liquidity remain comfortable to support future growth.