Greenlam Industries to Establish ₹1,147 Crore Wood Laminate Plant in Andhra Pradesh 4 days ago
Greenlam Industries has received approval from the Andhra Pradesh government to establish a wood laminate and particle board manufacturing facility in Naidupeta. The company plans to invest ₹1,147 crore in the project, which will be the largest wood laminate manufacturing facility in South India. The facility will have an annual production capacity of 7 million sheets of high-pressure laminate and 2.90 lakh cubic meters of wood-based particle board. The state government has approved incentives worth over ₹329 crore, including capital subsidy, turnover incentive, and power tariff subsidies. Despite this expansion, Greenlam's recent financial performance has been mixed, with 11.40% revenue growth falling short of guidance. The company's stock closed 1.73% lower at ₹241.00 and has declined 19.00% year-to-date.
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