Greenply Industries has announced the termination of its joint venture agreement and acquisition of full control over its Singapore subsidiary. The company's Board of Directors approved the transaction on 4th February, 2026, with the Joint Venture Termination and Share Transfer Agreement executed on 23rd February, 2026.

Transaction Overview

The acquisition involves termination of the joint venture agreement dated 30th January, 2014 between Greenply Industries Limited and Kulmeet Singh. Under the new arrangement, Greenply Holdings Pte. Ltd., Singapore will acquire the remaining 50% shares held by Kulmeet Singh in Greenply Alkemal (Singapore) Pte. Ltd.

Target Company Profile

Greenply Alkemal (Singapore) Pte. Ltd. was incorporated on 14th May, 2014 under the Singapore Companies Act. The company operates in the trading and marketing of commercial veneers and panel products. Currently, both Greenply Holdings Pte. Ltd. and Kulmeet Singh hold equal 50% stakes in the joint venture company.

Financial Performance

The Singapore subsidiary has demonstrated strong growth in recent years:

Strategic Impact

Following the completion of this acquisition, Greenply Alkemal (Singapore) Pte. Ltd. will become a wholly owned subsidiary of Greenply Holdings Pte. Ltd., Singapore. This will consequently make it a step-down wholly owned subsidiary of Greenply Industries Limited, providing the company with complete operational control.

The parties agreed to terminate the joint venture agreement as there was no active business being conducted with the JV partner under the joint venture company structure. The transaction is classified as a related party transaction and will be executed in compliance with all applicable laws.

Regulatory Compliance

The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has indicated that necessary regulatory approvals, if required, will be obtained before executing the proposed transactions. The acquisition will be completed during FY 2025-26 through cash consideration.

Greenply Industries Limited has announced a scheduled plant visit for investors and analysts at its Gujarat facilities, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Plant Visit Details

The company has organized a comprehensive plant visit scheduled for February 24, 2026, providing stakeholders with an opportunity to observe operations at key manufacturing facilities.

Facilities Coverage

The plant visit will encompass facilities operated by two key entities within the Greenply Industries group structure. Participants will have access to operations at the plants of Greenply Speciality Panels Pvt. Ltd., which serves as the company's wholly owned subsidiary, and Greenply Samet Pvt. Ltd., operating as a joint venture.

Both manufacturing units are strategically located in Village Sherpura, District Vadodara, Gujarat, representing significant production capabilities within the company's operational network.

Compliance and Information Sharing

Greenply Industries has explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be shared during the plant visit, ensuring compliance with regulatory requirements and maintaining fair disclosure practices.

The company has noted that the schedule remains subject to potential changes due to exigencies that may arise on the part of either participants or the company itself.

Regulatory Framework

This announcement has been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent communication with stakeholders and regulatory compliance in investor relations activities.