Greenply Industries Limited , a leading manufacturer of plywood and allied products, has initiated a postal ballot process to seek shareholder approval for the re-appointment of Rajesh Mittal as Chairman cum Managing Director (CMD) for a five-year term. This move comes as the company aims to ensure continuity in its leadership amid a challenging economic environment.

Key Details of the Proposal

Financial Context

The proposed re-appointment and remuneration package come against the backdrop of Greenply Industries' recent financial performance:

Despite a moderate increase in revenue, the company has experienced a decline in profitability compared to the same quarter in the previous year. This context underscores the importance of stable leadership to navigate current market challenges.

Implications for Shareholders

1. Leadership Continuity: The re-appointment of Rajesh Mittal for another five-year term signals the board's confidence in his leadership and strategy for long-term growth.

2. Remuneration Structure: The proposed remuneration, including a substantial basic salary and performance-linked commission, aligns the CMD's interests with those of the shareholders.

3. Corporate Governance: The use of a postal ballot for this decision demonstrates Greenply's commitment to transparent decision-making and shareholder participation.

4. Financial Responsibility: Given the recent dip in profitability, shareholders may scrutinize the remuneration package, particularly the commission component tied to net profits.

Industry Outlook

The plywood and wood panel industry in India faces both opportunities and challenges. While government initiatives like 'Housing for All' and smart city projects offer growth potential, factors such as raw material costs and competition from the unorganized sector remain concerns. Greenply Industries' leadership will be crucial in navigating these market dynamics.

Conclusion

As Greenply Industries seeks shareholder approval for this significant corporate action, investors will need to weigh the proposed remuneration against the company's recent financial performance and future growth prospects. The outcome of this postal ballot will be a key indicator of shareholder confidence in the current leadership and their vision for the company's future.

Shareholders are encouraged to participate in the e-voting process, which runs from November 30 to December 29, 2025, to make their voices heard on this important corporate governance matter.

Greenply Industries Limited , a key player in the plywood and wood panel industry, has reported an increase in its promoter group shareholding through recent open market transactions.

Latest Acquisition

Karuna Investment Pvt. Ltd. and its persons acting in concert acquired 23,000 equity shares of Greenply Industries Limited through open market purchases on December 2-3, 2025. This acquisition involved multiple promoter group entities including Rajesh Mittal, Sanidhya Mittal, and associated companies.

Previous Transaction

Prior to this, on November 11, 2025, Karuna Investment Pvt. Ltd. and its persons acting in concert had acquired additional equity shares, which increased the promoter group's total shareholding from 51.69% to 51.71% of the company's total equity share capital.

Transaction Details (as of November 11, 2025)

The acquisition details were as follows:

Company's Equity Structure

Greenply Industries' total equity capital stands at 12,48,87,795 shares with a face value of Re. 1 each. This figure includes a recent allotment of 7,000 equity shares under the Greenply Employee Stock Option Plan 2020, which was made to certain employees on November 4, 2025.

Additional Share Information

Out of the total equity shares:

• 2,000 shares held by two shareholders are unclaimed and kept in the "Greenply Industries Limited - Unclaimed Suspense Account."
• 37,937 shares have been transferred to the Investor Education and Protection Fund.

The voting rights on these shares remain frozen until claimed by the rightful owners.

Market Implications

The increase in promoter holding may be viewed positively by the market as it often signals the promoter group's confidence in the company's prospects. However, investors should conduct their own research and consider various factors before making investment decisions.

Greenply Industries continues to be a significant player in the wood panel industry, and these changes in shareholding structure add another dimension to its market presence and corporate governance landscape.