Greenply Industries Limited held its Q3FY26 earnings conference call on February 5, 2026, where management discussed the company's financial performance, strategic initiatives, and future growth plans. The call was hosted by Asian Market Securities and featured key executives including Joint Managing Directors Manoj Tulsian and Sanidhya Mittal, along with CFO Sanjiv Keshri.

Financial Performance Highlights

During the conference call, management presented the consolidated financial results for Q3FY26, demonstrating mixed performance with strong revenue growth offset by margin pressures.

Business Segment Performance

Management highlighted double-digit volume growth across both plywood and MDF segments, with the plywood business achieving 12.5% volume growth year-on-year despite average realization declining to ₹244 per square meter.

Strategic Expansion Plans

A significant portion of the call focused on the company's expansion strategy, particularly the board-approved MDF capacity expansion at the Vadodara facility.

Management Commentary on Growth Strategy

CEO Manoj Tulsian emphasized the company's three-brand communication strategy and its positive impact on market performance. He noted that the company has implemented significant operational improvements over the past 18 months, including enhanced distribution reach, sales force automation, and strategic focus on the mid-segment Ecotec brand.

Tulsian stated, "We are confident of sustaining this momentum in quarter 4 FY '26 and in the periods ahead," highlighting the company's expectation of continued double-digit volume growth.

Operational Challenges and Recovery

Sanidhya Mittal, Joint Managing Director, addressed the MDF business challenges during Q3FY26, explaining that initial production issues in October and November impacted margins. However, he confirmed that January production reached the highest-ever levels, with operations now fully stabilized.

Debt Management and Future Financing

CFO Sanjiv Keshri discussed the company's debt management strategy, confirming that the debt-to-equity ratio will remain within the guided range of 0.5x to 0.6x. The management indicated that the new MDF expansion will be financed through a mix of borrowings and internal accruals, with strong cash generation expected to support both existing debt servicing and new investments.

Other Business Updates

The call also covered updates on the Furniture and Fitting JV, which reported sales of ₹13.4 crores in Q3FY26, and progress on the Odisha plywood facility construction, which remains on track for commissioning in Q4 FY2027. Management also noted the continued reduction in Middle East exposure from USD 2.7 million to USD 1 million.

Greenply Industries Limited has announced an earnings conference call to discuss its operational and financial performance for the third quarter and nine months of FY26. The call is scheduled for February 05, 2026, providing investors and analysts an opportunity to engage with the company's senior management team.

Conference Call Details

The earnings call will commence at 12:00 PM IST on Thursday, February 05, 2026. The company has made arrangements for multiple participation options to ensure broad accessibility for stakeholders.

Management Participation

The conference call will feature key members of Greenply Industries' senior management team who will present and discuss the company's quarterly performance:

• Mr. Manoj Tulsian - Joint Managing Director & CEO
• Mr. Sanidhya Mittal - Joint Managing Director
• Mr. Sanjiv Keshri - CFO

Participation Options

Investors and analysts can participate in the earnings call through multiple channels. The company has provided universal dial-in numbers for domestic participants, along with international access numbers for overseas stakeholders.

Regulatory Compliance

The announcement has been made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has specifically stated that no Unpublished Price Sensitive Information (UPSI) will be shared during the conference call, ensuring compliance with regulatory requirements.

The call coordination is being managed by Asian Market Securities, with Karan Bhatelia serving as the primary coordinator. Participants are advised that changes may occur due to exigencies on the part of participants or the company.