Greenpanel Industries , a leading wood panel manufacturer in India, has reported robust financial results for the second quarter of fiscal year 2026, showcasing significant growth in its Medium Density Fiberboard (MDF) segment.

Financial Performance

Greenpanel Industries demonstrated strong performance in Q2 FY26:

*Compared to 4.0% in Q1 FY26

MDF Segment Growth

The company's MDF segment showed exceptional growth:

• Domestic MDF volumes increased by 30.5% year-on-year
• Quarter-on-quarter growth in MDF volumes reached 26.8%

Operational Improvements

Greenpanel Industries made significant strides in operational efficiency:

• Cash conversion cycle improved to 30 days from 47 days as of June 30, 2025
• Net debt reduced to Rs 173.00 crores from Rs 233.00 crores in the previous quarter

Product Innovation and Mix

The company launched several new products during the quarter:

• HDWR Door
• Thin MDF
• FR MDF

The high-value product mix increased to 61% compared to 52% in Q2 FY25.

Other Segment Performance

The plywood segment showed signs of recovery with an 18% volume growth compared to Q1 FY26.

Credit Ratings

Greenpanel Industries' credit ratings were reaffirmed by ICRA and CARE at A+ during the quarter, indicating strong financial stability.

Challenges

Despite the overall positive performance, the company's net profit was impacted by foreign exchange losses on Euro-denominated borrowings for the new MDF plant in Andhra Pradesh.

Conclusion

The strong performance in the MDF segment and operational improvements position Greenpanel Industries for continued growth. The company's focus on product innovation and improving its high-value product mix suggests a strategic approach to enhancing profitability.

Greenpanel Industries , a prominent player in the wood-based panel products industry, has reported a marginal decline in its financial performance for the second quarter. The company's latest financial results reveal subtle changes in key metrics, reflecting the current market dynamics in the sector.

Financial Performance Overview

Greenpanel Industries has disclosed its Q2 financial results, highlighting changes in its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and EBITDA margin. Here's a breakdown of the key figures:

The company's EBITDA for the quarter stood at ₹567 million, showing a slight decrease from ₹576 million in the same quarter of the previous year. This represents a modest decline of 1.56% year-over-year.

Similarly, the EBITDA margin experienced a minor contraction, moving from 9% in the previous year's Q2 to 8.24% in the current quarter. This 0.76 percentage point decrease in margin suggests a slight squeeze on the company's operational efficiency.

Upcoming Investor Communication

In related news, Greenpanel Industries has announced plans to host a conference call for investors and analysts. The call is scheduled for November 10, 2025, at 5:00 p.m. IST, following the release of the company's unaudited financial results for the quarter and half-year ended September 30, 2025.

Key company representatives, including Mr. Shobhan Mittal (Managing Director), Mr. V. Venkatramani (President Finance), and Mr. Himanshu Jindal (CFO), will be present to discuss the financial results and address queries from participants.

Market Implications

While the slight dip in EBITDA and margin may raise some concerns, it's important to note that these changes are relatively small. The upcoming investor call may provide more context to these figures and offer insights into the company's strategies to navigate current market conditions.

Investors and market analysts will likely be watching for any forward-looking statements or guidance that the management might provide during the conference call, which could offer a clearer picture of Greenpanel Industries' future outlook and potential growth strategies.

As the wood-based panel products industry continues to evolve, Greenpanel Industries' performance will be an important indicator of broader sector trends. Stakeholders will be looking for signs of how the company plans to maintain its competitive edge and drive growth in the coming quarters.