Greenpanel Industries Reports Q1 Results Amid Expansion and Currency Challenges 2 days ago
Greenpanel Industries, India's largest wood panel manufacturer, reported a net loss of ₹34.62 crore in Q1 FY24, down from a profit of ₹15.71 crore in Q1 FY23. Total income decreased by 10.60% to ₹331.61 crore. The MDF segment saw revenue decline to ₹296.74 crore with EBITDA margin dropping to 4.40%. The company is expanding MDF capacity to 891,000 CBM and focusing on value-added products. Export volumes fell 39.70% due to geopolitical issues. A significant foreign exchange loss of ₹275.43 crore impacted results. Despite challenges, the company remains committed to long-term growth through capacity expansion and distribution network growth.
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More news about Greenpanel Industries
26Feb 25
Greenpanel Industries Launches Trial Production at New MDF Plant in Tirupati
Greenpanel Industries has started trial production at its new Medium Density Fiberboard (MDF) plant in Tirupati, Andhra Pradesh. The facility has an annual capacity of 231,000 CBM and is currently producing thin MDF boards (1.5-1.7 mm). The plant's commissioning was delayed due to late delivery of imported equipment caused by global geopolitical issues. Commercial production date is yet to be announced.