Greenply Industries Limited , a leading manufacturer of plywood and allied products, has made several key announcements following its board meeting on November 4, 2025. The company has approved the re-appointment of its Chairman, sanctioned a loan to its subsidiary, and released its financial results for the second quarter of fiscal year 2026.

Re-appointment of Chairman and Managing Director

The Board of Directors has approved the re-appointment of Mr. Rajesh Mittal as Chairman cum Managing Director for a further period of five years, effective from January 1, 2026, subject to shareholder approval. Mr. Mittal, who holds a bachelor's degree in commerce from the University of Dibrugarh, Assam, has been associated with Greenply Industries since its inception and possesses over 37 years of experience in various aspects of the business.

Loan Sanction to Subsidiary

The board has approved a loan of up to Rs 15 crores to Greenply Speciality Panels Private Limited, a wholly-owned subsidiary, for working capital requirements. The loan will be provided in one or more tranches and will be repayable on demand. The interest rate for the loan will be the higher of Greenply Industries Limited's borrowing cost plus 1% or the Repo Rate plus 2%.

Financial Performance for Q2 FY26

Greenply Industries has reported its consolidated financial results for the quarter ended September 30, 2025:

All figures in Rs crores, except percentages

The company's plywood business volume grew by 7.2% year-on-year in Q2 FY26, with a core EBITDA margin of 8.2%. The MDF (Medium Density Fiberboard) business reported revenue of Rs 146.80 crores, with a core EBITDA margin of 8.3%.

Segment-wise Performance

Plywood and Allied Products

• Revenue: Rs 541.70 crores (5.4% YoY increase)
• Core EBITDA: Rs 44.60 crores (8.2% margin)

MDF and Allied Products

• Revenue: Rs 146.80 crores (16.1% YoY increase)
• Core EBITDA: Rs 12.10 crores (8.3% margin)

Mr. Manoj Tulsian, JMD & CEO of Greenply Industries Ltd., commented on the performance, stating, "We have witnessed demand recovery in the plywood segment starting from Q2 FY26 and we remain optimistic about sustaining this positive momentum through the second half of the year." He also noted that the MDF business successfully expanded its manufacturing capacity from 800 CBM per day to 1,000 CBM per day, which temporarily impacted production during the quarter.

The company's joint venture, Greenply Samet, is showing promising growth with a quarter-on-quarter revenue increase of 74%, achieving revenues of Rs 11.30 crore during Q2 FY26.

Greenply Industries continues to focus on its growth strategy, including product portfolio expansion, automation, digitization, and expanding its manufacturing base at diversified locations. The company remains committed to employee engagement and environmental, social, and governance (ESG) initiatives.

Greenply Industries , a leading player in the plywood and allied products sector, has reported mixed financial results for the second quarter of fiscal year 2025-26. The company saw an increase in revenue but experienced a decline in net profit compared to the same period last year.

Financial Performance

For Q2 FY2025-26, Greenply Industries reported:

The company's revenue grew by 3.8% year-over-year, reaching ₹521.05 crore compared to ₹501.78 crore in the same quarter of the previous fiscal year. However, the net profit saw a significant decline of 30.5%, dropping to ₹18.20 crore from ₹26.17 crore in Q2 FY2024-25.

Half-Year Performance

For the half-year period:

• Revenue increased to ₹959.27 crore from ₹940.88 crore in the previous year
• Profit declined to ₹36.76 crore from ₹55.77 crore

Segment Performance

Greenply Industries operates in the plywood and allied products segment.

Financial Metrics

Basic earnings per share for the quarter was ₹1.46 compared to ₹2.10 in the previous year.

Corporate Developments

The Board of Directors approved these results in their meeting held on November 4, 2025.

Market Position and Outlook

Despite the growth in revenue, Greenply Industries faced challenges in maintaining profitability. The increase in revenue suggests that demand for the company's products remains stable. However, the significant decline in net profit may indicate challenges in managing costs or competitive pressures in the industry.

Conclusion

Greenply Industries' Q2 results present a mixed picture, with modest revenue growth offset by a substantial decline in net profit. As the fiscal year progresses, it will be important to observe how the company addresses the factors affecting its profitability while maintaining its market position in the plywood and allied products sector.