Greenply promoters raise stake to 51.93% via open market

Greenply Industries Limited has disclosed a substantial acquisition of shares by its promoters and promoter group under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition was executed via the open market on May 13, 2026.

The primary acquirer, Shakuntala Safeinvest Private Limited, purchased 38,200 shares, increasing its total holding to 46,786,779 equity shares. This represents 37.46% of the company's total share capital following the transaction. The acquisition did not involve any shares held under encumbrance or convertible securities.

Shareholding Details

The disclosure details the shareholding pattern of the acquirer and Persons Acting in Concert (PACs) before and after the transaction. The total equity share capital of the company remains unchanged at 12,49,02,045 shares of Re.1 each.

Shareholder Category	Before Transaction (Shares)	Before Transaction (%)	Transaction (Shares)	After Transaction (Shares)	After Transaction (%)
Acquirer	46,748,579	37.43	38,200	46,786,779	37.46
PACs	18,068,801	14.47	0	18,068,801	14.47
Total Promoter Group	64,817,380	51.89	38,200	64,855,580	51.93

The PACs include various family members and entities associated with the promoters, such as Rajesh Mittal, Sanidhya Mittal, and Mittal Business Holdings Trust. However, no changes in shareholding were reported for these PACs during this specific transaction.

Transaction Overview

The acquisition was limited to the acquirer, Shakuntala Safeinvest Private Limited, with no corresponding disposal or acquisition reported by the other identified PACs. The voting rights associated with the acquired shares have been updated in the company's records. The disclosure confirms that the total diluted share capital remains consistent with the equity share capital.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.61%	-4.65%	+18.97%	-14.60%	-11.89%	+29.06%

Greenply Industries delivered strong Q4 performance with consolidated net profit surging 87% year-on-year to ₹31 crore, even as the company navigated significant leadership changes and reported annual losses. The Board convened on April 28, 2026, under Regulation 30 to address multiple key agenda items including leadership changes, director re-appointment, dividend recommendation, and record date fixation for FY26.

Q4 Financial Performance

The company demonstrated robust quarterly performance with consolidated revenue growing 20% year-on-year to ₹780 crore compared to ₹650 crore in Q4 of the previous year. EBITDA for the quarter reached ₹93.2 crore versus ₹68.1 crore, reflecting improved operational efficiency. The EBITDA margin expanded to 12.00% from 10.49% in the corresponding quarter last year.

Metric	Q4 Current Year	Q4 Previous Year	Growth (%)
Net Profit (₹ crore)	31.0	16.6	+87%
Revenue (₹ crore)	780.0	650.0	+20%
EBITDA (₹ crore)	93.2	68.1	+37%
EBITDA Margin (%)	12.00	10.49	+151 bps

CEO Resignation

The Board accepted the resignation of Manoj Tulsian from his position as Joint Managing Director & Chief Executive Officer. Tulsian had submitted his resignation on March 14, 2026, citing personal reasons. The resignation becomes effective at the close of business hours on April 30, 2026. In his resignation letter addressed to the Chairman cum Managing Director, Tulsian expressed gratitude for the opportunity to serve on the Board and contribute to the company's growth and governance.

Parameter	Details
Position	Executive Director and Joint Managing Director & CEO
Executive Name	Manoj Tulsian (DIN: 05117060)
Resignation Date	March 14, 2026
Effective Date	April 30, 2026
Reason	Personal reasons

Annual Financial Performance

Despite strong quarterly results, the company reported audited standalone financial results for FY26 showing a net loss of ₹50.47 crore compared to a loss of ₹36.04 crore in the previous year. Total income for the year stood at ₹2,05,996.09 lakh, while total expenses reached ₹1,93,944.05 lakh. The Board recommended a dividend of Re 0.50 per equity share (50% of face value) for the year ended March 31, 2026, subject to shareholder approval.

Particulars	FY 2026	FY 2025
Total Income (₹ in lakh)	2,05,996.09	1,95,637.44
Total Expenses (₹ in lakh)	1,93,944.05	1,82,239.90
Profit Before Tax (₹ in lakh)	12,052.04	13,397.54
Net Profit/Loss (₹ in lakh)	(1,976.63)	(660.55)

Director Re-appointment and Exceptional Items

The Board approved the re-appointment of Ms. Vinita Bajoria (DIN: 02412990) as Independent Director for a further period of five consecutive years, effective from September 15, 2026, to September 14, 2031, subject to member approval. The company recognized exceptional items totaling ₹1,976.63 lakh during the year, including provisions for New Labour Codes impact and impairment losses on investments and advances. On a consolidated basis, the company reported a net profit of ₹3,100.47 lakh for FY26 compared to ₹8,977.98 lakh in the previous year.

Regulatory Compliance

The company has fulfilled its regulatory obligations by publishing the audited financial results in Business Standard (English) and Aajkal (Bengali) newspapers on April 29, 2026. Company Secretary Kaushal Kumar Agarwal confirmed the newspaper publication compliance to BSE and NSE exchanges on April 30, 2026, ensuring adherence to SEBI listing requirements under Regulation 33 and 47 of the LODR Regulations.