Greenply Industries Limited (GREENPLY)

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Greenply Industries Limited (GREENPLY) · mywealthgrid

About

Greenply Industries manufactures plywood boards and laminates in the consumer discretionary segment, with a market cap of ₹3,509 crore. Its business is tied to housing construction and home furnishing cycles, making it sensitive to economic conditions. Year-on-year returns of -10.08% reflect headwinds in discretionary consumer spending.

Face value: ₹1

Market cap

₹3,793 Cr

P/E

38.5×

P/B

4.2×

Dividend yield

0.2%

ROE

10.5%

ROCE

18%

Debt / equity

0.55

OPM

9.9%

EPS (TTM)

₹7.9

Book value

₹71.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 35.58 is high relative to ROE of 10.51%, signaling valuation risk if earnings growth does not materialize.
Operating margins vary from 4.56% to 12.01%, reflecting operational inconsistency or demand swings.
As a discretionary consumer player in plywood and laminates, demand depends on housing cycles; verify current real estate activity and sector demand trends.
Debt-to-equity ratio of 0.55 is moderate; verify debt maturity and refinancing risks.

Generated analysis · source review pending

Growth drivers

Mar 2026 revenue of ₹776.25 Cr and Jun 2026 revenue of ₹724.89 Cr are among the highest recent quarters; verify whether this reflects structural demand strength or temporary factors.
Operating margins of 12.01% (Mar 2026) and 10.8% (Jun 2026) exceed the 9.88% average; verify what factors enabled this margin performance and sustainability.
Plywood and laminates demand is tied to construction cycles and home furnishing trends; verify current residential and commercial real estate activity and Greenply's exposure across segments.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹303.7+8.4%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 18.6% over the last 5 years

Cons

−Low return on equity of 11% (3-yr avg)
−Low dividend payout of 6.3% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

48/100

Business quality: 35
Growth: 60
Valuation: 49

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,782	927	1,412	1,420	1,165	1,563	1,846	2,180	2,488	2,739
COGS	883	564	853	835	684	935	1,127	1,316	1,484	1,627
Gross profit	898	363	559	585	481	628	719	864	1,003	1,112
	654	297	415	430	365	475	571	679	800	871
	245	66	144	155	117	153	148	185	204	241
OPM %	13.7%	7.2%	10.2%	10.9%	10%	9.8%	8%	8.5%	8.2%	8.8%
Depreciation	51	18	22	26	23	26	36	55	60	65
Interest	19	8	19	21	17	12	26	43	43	55
	4	1	-47	-48	7	10	25	12	16	4
Profit before tax	181	—	111	61	81	125	111	100	117	125
Tax	56	-14	32	13	20	30	19	30	25	35
Tax %	30.8%	—	28.4%	22.1%	25.2%	24.2%	17.3%	29.8%	21.6%	28.3%
	125	111	80	47	61	95	91	70	92	90
PAT margin %	7%	11.9%	5.6%	3.3%	5.2%	6.1%	5%	3.2%	3.7%	3.3%
EPS (₹)	10.3	1.7	6.5	3.9	6,091.2	7.7	7.4	5.7	7.4	7.2
EPS adjusted (₹)	10.2	9	6.5	3.9	5	7.7	7.4	5.7	7.3	7.2
	5.8%	35.5%	6.2%	10.4%	0%	6.5%	6.7%	8.8%	6.8%	7%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	12	12	12	12	12	12	12
Reserves	760	865	323	—	424	526	632	697	796	882
Minority interest	—	0	—	—	—	0	—	0	0	1
	394	682	222	—	192	292	663	525	488	489
	408	551	330	312	287	329	374	430	655	577
Total equity & liabilities	1,575	2,111	887	324	915	1,159	1,681	1,664	1,952	1,962
	526	580	252	314	308	353	459	865	857	907
CWIP	269	770	16	—	6	110	513	12	44	50
Investments	26	18	22	—	23	26	6	43	67	55
	754	742	597	10	578	671	703	743	984	950
Total assets	1,575	2,111	887	324	915	1,159	1,681	1,664	1,952	1,962

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Plywood and allied products	2,104.63	165.56	1,133.39	601.08	532.31	31.1
Medium density fibreboards and allied products	635.13	51.66

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	39.6%	41.2%	41.3%	40.2%	39%	39.7%	40.3%	40.6%
EBITDA margin %	10.2%	11%	10%	9.6%	9.2%	8.6%	9.6%	9.9%
EBIT margin %	8.6%	9.1%	8%	8%	7.2%	6.1%	7.1%	7.5%
PAT margin %	5.6%	3.3%	5.2%	6.1%	5%	3.2%	3.7%	3.3%
Working capital
Receivable days	79	—	61	44	45	42	47	54
Inventory days	73	—	96	88	90	96	127	82
Payable days	—	—	109	84	79	92	132	101
NWC days	—	—	47	47	57	46	43	35
Leverage
Current ratio	1.16	—	1.41	1.22	1.33	1.28	1.24	1.29
Debt to EBITDA	1.54	—	1.64	1.94	3.92	2.81	2.05	1.81
Debt to equity	0.66	—	0.44	0.54	1.03	0.74	0.6	0.55
Interest coverage	6.7	6.3	6	11.3	5.6	3.4	4.5	4.1
Asset turnover	1.59	4.38	1.27	1.35	1.1	1.31	1.27	1.4
Return ratios
Return on assets %	9%	14.6%	6.7%	8.2%	5.4%	4.2%	4.7%	4.6%
Return on capital employed %	13%	—	19.2%	22%	15.7%	12.6%	16.6%	18%
Return on equity %	23.8%	—	13.9%	17.6%	14.2%	9.9%	11.3%	10%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.12%	51.97%	52%	52.01%	52%	51.66%	51.69%	51.69%	51.69%	51.8%	51.89%	51.93%
	2.07%	4.1%	4.13%	4.91%	5.6%	5.75%	5.42%	4.53%	4.49%	4.35%	4.19%	4.44%
	33.09%	30.06%	30.62%	30.64%	30.65%	30.9%	31.05%	32.41%	32.41%	32.12%	31.83%	31.43%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	12.72%	13.87%	13.25%	12.44%	11.75%	11.69%	11.84%	11.37%	11.41%	11.73%	12.09%	12.2%
No. of shareholders	—	—	—	—	—	—	—	—	52,563	52,376	53,767	52,337

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 5 fund houses

Held by these funds

7.33%

of the company's equity

All mutual funds

30.2%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

6 schemes · 5 fund houses

		Shares
SMALL CAP FUND	Tata Mutual Fund	70.01 L	203.16	1.55%	5.605%	-0
Contra Fund	SBI Mutual Fund	13.5 L	39.18	0.08%	1.081%	-0
SMALL CAP FUNDNEW	Bank of India Mutual Fund	3.7 L	10.74	0.32%	0.296%	—
Consumption Fund	Bajaj Finserv Mutual Fund	2.36 L	6.86	1.12%	0.189%	-0
CHILDRENS FUND	Tata Mutual Fund	2 L	5.8	1.75%	0.16%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	174	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

33 announcementsExport CSV

11 Sept 2026, 5:31 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	39.6%	41.2%	41.3%	40.2%	39%	39.7%	40.3%	40.6%
EBITDA margin %	10.2%	11%	10%	9.6%	9.2%	8.6%	9.6%	9.9%
EBIT margin %	8.6%	9.1%	8%	8%	7.2%	6.1%	7.1%	7.5%
PAT margin %	5.6%	3.3%	5.2%	6.1%	5%	3.2%	3.7%	3.3%
Working capital
Receivable days	79	—	61	44	45	42	47	54
Inventory days	73	—	96	88	90	96	127	82
Payable days	—	—	109	84	79	92	132	101
NWC days	—	—	47	47	57	46	43	35
Leverage
Current ratio	1.16	—	1.41	1.22	1.33	1.28	1.24	1.29
Debt to EBITDA	1.54	—	1.64	1.94	3.92	2.81	2.05	1.81
Debt to equity	0.66	—	0.44	0.54	1.03	0.74	0.6	0.55
Interest coverage	6.7	6.3	6	11.3	5.6	3.4	4.5	4.1
Asset turnover	1.59	4.38	1.27	1.35	1.1	1.31	1.27	1.4
Return ratios
Return on assets %	9%	14.6%	6.7%	8.2%	5.4%	4.2%	4.7%	4.6%
Return on capital employed %	13%	—	19.2%	22%	15.7%	12.6%	16.6%	18%
Return on equity %	23.8%	—	13.9%	17.6%	14.2%	9.9%	11.3%	10%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Century Plyboards (India) LimitedCENTURYPLYCENTURYPLY	₹14,809 Cr	₹16,439 Cr	₹5,789 Cr	₹720 Cr	12.1%	₹291 Cr	5%	15.4%	10.6%	131
Greenlam Industries LimitedGREENLAMGREENLAM	₹5,449 Cr	₹6,496 Cr	₹3,169 Cr	₹361 Cr	10.7%	₹93 Cr	1.8%	9.7%	4.9%	92
Stylam Industries LimitedSTYLAMINDSTYLAMIND	₹5,442 Cr	₹5,471 Cr	₹1,173 Cr	₹237 Cr	19.5%	₹170 Cr	13.3%	27.6%	20.5%	150
Greenply Industries LimitedGREENPLYGREENPLY	₹3,793 Cr	₹4,282 Cr	₹2,863 Cr	₹287 Cr	9.9%	₹99 Cr	3.3%	18%	10.5%	35
Greenpanel Industries LimitedGREENPANELGREENPANEL	₹1,944 Cr	₹2,212 Cr	₹1,567 Cr	₹246 Cr	15.7%	₹143 Cr	9.1%	12.4%	11.4%	55
Rushil Decor LimitedRUSHILRUSHIL	₹467 Cr	₹726 Cr	₹912 Cr	₹90 Cr	8.1%	₹23 Cr	0.7%	4.9%	1%	-124
Archidply Industries LimitedARCHIDPLYARCHIDPLY	₹203 Cr	₹382 Cr	₹712 Cr	₹48 Cr	6.3%	₹13 Cr	1.2%	17%	7.4%	93
Ecoboard Industries LtdECOBOARECOBOAR	₹156 Cr	₹163 Cr	₹15 Cr	₹-1 Cr	-38.9%	₹11 Cr	-42.2%	-67.2%	-44.7%	119
Duroply Industries LtdDUROPLYDUROPLY	₹105 Cr	₹170 Cr	₹181 Cr	₹-2 Cr	5.2%	₹-2 Cr	0.7%	9.5%	2.1%	115
Archidply Decor LimitedADLADL	₹41 Cr	₹58 Cr	₹46 Cr	₹2 Cr	4.3%	₹-0 Cr	0%	3.6%	0%	417
Adhata Global LtdADHHATAADHHATA	₹10 Cr	₹10 Cr	₹17 Cr	₹2 Cr	-43.3%	₹2 Cr	-49.5%	-48.5%	-79.6%	408

61 deals · 17 Aug 2021 – 29 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
29 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	35,37,170	₹286.79	₹101.44 Cr
29 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	35,37,170	₹286.62	₹101.38 Cr
29 Apr 2026	BLITZQUANT RESEARCH LLP	Bulk	NSE	Sell	14,38,074	₹286.74	₹41.24 Cr
29 Apr 2026	BLITZQUANT RESEARCH LLP	Bulk	NSE	Buy	14,38,074	₹286.60	₹41.22 Cr
29 Apr 2026	ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED	Bulk	NSE	Buy	14,37,076	₹287.20	₹41.27 Cr
29 Apr 2026	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	14,26,195	₹286.48	₹40.86 Cr
29 Apr 2026	ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED	Bulk	NSE	Sell	13,87,419	₹288.13	₹39.98 Cr
29 Apr 2026	IRAGE BROKING SERVICES LLP	Bulk	NSE	Sell	12,66,416	₹286.59	₹36.29 Cr
29 Apr 2026	QE SECURITIES LLP	Bulk	NSE	Buy	12,33,829	₹288.13	₹35.55 Cr
29 Apr 2026	QE SECURITIES LLP	Bulk	NSE	Sell	12,17,593	₹287.22	₹34.97 Cr

1–10 of 61

1 / 7

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
11 Sept 2026, 5:31 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
11 Sept 2026, 5:19 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
11 Sept 2026, 5:07 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
11 Sept 2026, 4:46 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting	PDF
25 Aug 2026, 8:25 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
25 Aug 2026, 8:23 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
25 Aug 2026, 8:17 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
25 Aug 2026, 8:12 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	212	132	98	58	228	92	62	111	219	247
	-363	-305	-84	-57	-125	-129	-409	-143	-147	-152
	190	132	-28	-19	-96	80	318	46	-83	-78
Net cash flow	39	-41	-14	-19	7	43	-29	14	-11	16
Free cash flow	—	—	15	2	205	-131	-352	-23	142	90
CFO / Operating profit %	86.6%	198.3%	67.9%	37%	195.2%	61%	36.8%	59.4%	92%	91.3%

Greenply Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

21

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Medium density fibreboards and allied products · revenue

Greenply Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Investor Presentation and earnings call

Dividends21

Board meetings1

Stock splits1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Medium density fibreboards and allied products · revenue

21

1

1