Greenply Industries' net profit increases 26.33% in Q2 FY25
ECONOMY & POLICY

Greenply Industries' net profit increases 26.33% in Q2 FY25

Greenply Industries reported a 26.33% rise in its net consolidated profit for the quarter ended September 30, 2024. Profit after tax stood at Rs 175.6 million, compared to Rs 139 million in the same quarter last year, the company announced in a BSE filing.

The company's net consolidated total income grew 12.52% to Rs 6.42 billion in Q2 FY25, up from Rs 5.70 billion in the corresponding quarter of the previous fiscal.

Manoj Tulsian, Joint Managing Director & CEO, stated, "While our plywood business has shown consistent growth, margins remain under pressure due to high raw material costs and product mix changes. We are actively working on strategies to improve profitability. The MDF business faced a decline in revenue on a quarter-over-quarter basis due to a plant shutdown and power cuts in Gujarat. However, we remain optimistic about stronger performance in the second half, aiming to meet our 50% annual revenue growth target. Our Furniture & Fittings JV will begin full-scale production from November 2024, following successful equipment installation and trial runs."

In Q2 FY25, revenue from the plywood and allied products segment stood at Rs 514 crore, growing 7.5% year-on-year, with a sales volume of 20.2 million square meters (MSM) and realisation at Rs 251 per square meter—an improvement of 2.4%.

The MDF segment reported revenue of Rs 1.26 billion, with a sales volume of 40,553 cubic meters (CBM) and realisation at Rs 31,169 per CBM during the quarter. (ET)

Greenply Industries reported a 26.33% rise in its net consolidated profit for the quarter ended September 30, 2024. Profit after tax stood at Rs 175.6 million, compared to Rs 139 million in the same quarter last year, the company announced in a BSE filing. The company's net consolidated total income grew 12.52% to Rs 6.42 billion in Q2 FY25, up from Rs 5.70 billion in the corresponding quarter of the previous fiscal. Manoj Tulsian, Joint Managing Director & CEO, stated, While our plywood business has shown consistent growth, margins remain under pressure due to high raw material costs and product mix changes. We are actively working on strategies to improve profitability. The MDF business faced a decline in revenue on a quarter-over-quarter basis due to a plant shutdown and power cuts in Gujarat. However, we remain optimistic about stronger performance in the second half, aiming to meet our 50% annual revenue growth target. Our Furniture & Fittings JV will begin full-scale production from November 2024, following successful equipment installation and trial runs. In Q2 FY25, revenue from the plywood and allied products segment stood at Rs 514 crore, growing 7.5% year-on-year, with a sales volume of 20.2 million square meters (MSM) and realisation at Rs 251 per square meter—an improvement of 2.4%. The MDF segment reported revenue of Rs 1.26 billion, with a sales volume of 40,553 cubic meters (CBM) and realisation at Rs 31,169 per CBM during the quarter. (ET)

Next Story
Real Estate

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?