Greenply Industries Limited has published its Business Responsibility and Sustainability Report (BRSR) for the financial year April 1, 2025 to March 31, 2026, prepared on a standalone basis. The report provides comprehensive disclosures across all nine principles of the National Guidelines on Responsible Business Conduct (NGRBC), covering the company's environmental, social, and governance (ESG) performance, workforce practices, stakeholder engagement, and compliance frameworks. The company, incorporated on 28 November 1990 and headquartered at Madgul Lounge, 23 Chetla Central Road, Kolkata, West Bengal, reported a turnover of ₹2,022.41 crores and a net worth of ₹897.88 crores for the reporting period.

Business Overview and Operations

Greenply Industries operates primarily through two business segments — manufacturing and trading — which together account for 90% of its turnover. Manufacturing activities include the production of plywood, blockboards, decorative veneers, flush doors, and allied products, while the trading segment covers plywood, blockboards, flush doors, and Polyvinyl Chloride (PVC) products.

The company operates 3 manufacturing plants and 60 offices nationally, with no international operations. Its domestic market presence spans 28 states and 6 Union Territories, while exports are made to 4 countries, contributing approximately 0.10% to total revenue. Customers are classified into three categories: Trade Customers (dealers, distributors, super stockists, and wholesalers), OEM Customers (furniture manufacturers), and Other Customers (builders, contractors, and government departments).

Workforce Composition and Well-Being

As of March 31, 2026, Greenply Industries employed a total of 1,589 employees and 3,030 workers. The workforce reflects a predominantly male composition, with women representing 3.52% of total employees and 19.21% of total workers.

The company employs 4 differently abled permanent employees (all male) and 5 differently abled permanent workers (all male). The Board of Directors comprises 6 members, including 1 female director (16.66%). Well-being expenditure as a percentage of total revenue stood at 0.22% in FY 2026, compared to 0.17% in FY 2025. All permanent employees and workers are covered under Provident Fund (PF), with 100% coverage and timely deposit confirmed for both years.

Subsidiaries and Corporate Structure

The company's corporate structure includes several subsidiaries and a joint venture. None of these entities participate in the Business Responsibility initiatives of the listed entity.

Environmental Stewardship

Greenply Industries has implemented a Zero Liquid Discharge (ZLD) system across its facilities. Wastewater generated from operational activities is treated through in-house Effluent Treatment Plants (ETP) and Sewage Treatment Plants (STP), with treated water recycled for log pond filling, resin preparation, gardening, flushing, and facility cleaning. Total water withdrawal for FY 2026 was 1,79,725 kilolitres, compared to 41,060 kilolitres in FY 2025. Water intensity per rupee of turnover was reported at 0.89 for FY 2026 versus 0.22 for FY 2025.

On energy and emissions, the company has undertaken GHG reduction initiatives including the use of electrical forklifts, solar and hybrid energy projects, replacement of steam coal with in-house wood waste for boiler operations, and increased utilization of renewable energy through solar power generation. The company holds ISO 50001:2018 certification for energy management and ISO 14001:2015 for environmental management. Scope 3 GHG emission inventory is yet to be developed.

Sustainable sourcing is a key focus area, with 36% of inputs sourced from FSC-certified imported sources, 34% from MSMEs, and 30% from local agroforestry. The company sources all timber through agroforestry, ensuring no deforestation. Wood waste generated during the peeling process is utilized as biomass fuel in boilers, supporting circular waste management practices.

Governance, Compliance, and Stakeholder Engagement

The company's policies cover all nine NGRBC principles and have been approved by the Board or Board Committees, as applicable. Certifications held include FSC® FM, BIS Certificates, ISO 9001:2015, ISO 14001:2015, ISO 50001:2018, ISO 45001:2018, CARB Certification, IGBC Membership (IGBCMP091126), and GreenPro Certification for the Rajkot manufacturing plant. No fines or penalties breaching the materiality thresholds under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 were imposed during FY 2025-26. No complaints related to conflict of interest, bribery, corruption, sexual harassment, child labour, or data privacy were reported in FY 2026.

The number of days of accounts payables stood at 99 in FY 2026, compared to 83 in FY 2025. Gross wages paid to females as a percentage of total wages increased to 7.27% in FY 2026 from 4.68% in FY 2025.

CSR Initiatives and Material ESG Topics

Greenply's CSR activities during FY 2025-26 were aligned with multiple Sustainable Development Goals (SDGs) and focused on the following areas:

• Sponsoring girl child education (SDG 4, 5)
• Healthcare through Mobile Medical Vans in underserved communities (SDG 3)
• Eye check-up camps and health awareness programmes (SDG 3)
• Plantation and agroforestry activities (SDG 13, 15)
• Pathology laboratory services for economically weaker sections (SDG 3)
• Education support for tribal and rural children through the Ekal Abhiyan movement (SDG 4, 10)
• Provision of books to Unnayani Patha Bhawan school (SDG 4)
• Vocational skill development for carpenter communities through the Furniture & Fittings Skill Council (SDG 4, 8)
• Training support for nationally recognized sports — Tennis (SDG 3, 10)
• Healthcare and medical treatment services for weaker sections of society (SDG 3, 10)

The company has identified nine material ESG topics through stakeholder surveys involving Board members, investors, employees, customers, bankers, and suppliers. These include Climate Change and GHG Emissions, Energy Usage, Sustainable Forest Management, Water Footprint and Related Risks, Waste Generation and Disposal, Safety and Health for Workers and Contractors, Community Relationship, Training and Education, and Diversity, Equity and Inclusion. Mr. Rajesh Mittal, Chairman cum Managing Director, is responsible for implementation and oversight of Business Responsibility policies and sustainability-related decision-making.

Greenply Industries has scheduled its 36th Annual General Meeting (AGM) for Tuesday, August 25, 2026, to approve a final dividend of Re.0.50 per share for FY26 and restructure its board with new independent director appointments. The meeting will be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), with the dividend record date fixed at August 4, 2026. Shareholders must ensure their bank details are updated with Depository Participants or the Registrar and Share Transfer Agent (RTA) to receive electronic payments, as failure to comply with Know Your Customer (KYC) norms may result in withheld dividends.

The AGM agenda includes ordinary business items such as the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Under special business, shareholders will vote on the re-appointment of Ms. Vinita Bajoria as an Independent Director for a second five-year term, commencing September 15, 2026. Additionally, the company seeks approval for the appointment of Mr. Girish Kulkarni as an Independent Director for a five-year term starting July 24, 2026. Mr. Sanidhya Mittal retires by rotation but offers himself for re-appointment.

Board Appointments and Retirements

The Nomination and Remuneration Committee (NRC) recommended Ms. Vinita Bajoria’s re-appointment to maintain statutory compliance regarding independent woman directors on the board. Ms. Bajoria, an MBA from ICFAI and Harvard Business School alumna, currently serves as Chairman of the NRC and member of the CSR Committee. Her previous term expired on September 14, 2026. She drew ₹12,00,000 in sitting fees and ₹15,00,000 in annual commission during FY25-26.

Mr. Girish Kulkarni, a seasoned business leader with over four decades of experience in insurance and financial sectors, was appointed as an Additional Director effective July 24, 2026. His formal appointment requires shareholder approval via special resolution. Mr. Kulkarni brings expertise from roles at Dai-Ichi Life, Star Union Dai-Ichi Life Insurance, and SBI Life. He holds no equity shares in Greenply Industries.

Mr. Sanidhya Mittal, son of Chairman cum Managing Director Mr. Rajesh Mittal, retires by rotation. He offers himself for re-appointment, having attended five out of six board meetings in FY25-26. His remuneration includes a basic salary of ₹10,00,000 per month and commission not exceeding 1.5% of net profit.

Dividend and KYC Compliance

To facilitate timely dividend disbursement, Greenply Industries emphasized strict adherence to SEBI guidelines mandating electronic payments. Demat holders must update complete bank details with their Depository Participants. Physical shareholders must submit PAN, contact details, bank account information, and specimen signatures to M/s. S. K. Infosolutions Pvt. Ltd., the company’s RTA.

Shareholders holding shares as of the cut-off date, August 18, 2026, are eligible to vote. Remote e-voting begins on August 21, 2026, at 10:00 a.m. IST and ends on August 24, 2026, at 5:00 p.m. IST. The company has engaged Central Depository Services (India) Limited (CDSL) as the e-voting agency. Institutional shareholders must submit scanned board resolutions authorizing representatives to vote.

Investor Education and Protection Fund

The notice highlights that unclaimed dividends and corresponding shares remain subject to transfer to the Investor Education and Protection Fund (IEPF). As of March 31, 2026, 44,035 equity shares lie in the IEPF demat account. The due month for transferring unclaimed final dividends for FY2019 to the IEPF is November 2026. Shareholders with unclaimed dividends from FY2019 onwards are urged to claim them immediately via Form IEPF-5 on the Ministry of Corporate Affairs website to avoid permanent loss of entitlements.