Greenply Industries Limited has announced a key leadership appointment, with the Board of Directors approving the appointment of Mr. Ashok Jaiswar as Senior Vice President - Marketing and Senior Management Personnel. The appointment was approved at the board meeting held on February 4, 2026, based on the recommendation of the Nomination and Remuneration Committee.

Appointment Details

The appointment becomes effective from February 5, 2026, with Jaiswar taking on the role as a full-time employee. The board meeting, which commenced at 12:30 p.m. and concluded at 2:10 p.m., formalized this strategic leadership addition to the company's senior management team.

Professional Background

Ashok Jaiswar brings extensive experience to Greenply Industries, with over 25 years in marketing and communications across diverse sectors including consumer, automotive, and industrial brands. His career has been focused on driving large-scale brand transformations and business growth initiatives.

Jaiswar's expertise encompasses several key areas:

• Digital transformation and performance marketing
• Influencer strategy and CRM analytics
• Loyalty program development and management
• Strategic P&L leadership
• Customer-focused marketing approaches

Strategic Leadership Capabilities

The new Senior Vice President brings a proven track record of transforming legacy enterprises into high-growth, startup-driven businesses. His experience includes building profitable and dominant brands that deliver lasting value for customers, partners, and stakeholders.

Jaiswar is described as a strategic leader and customer-obsessed marketer who excels at solving complex problems through creativity and insight. His appointment is expected to strengthen Greenply Industries' marketing capabilities and support the company's growth objectives.

Regulatory Compliance

The appointment disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required details as mandated by the regulatory framework for senior management personnel appointments.

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.