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Home / Company Results / Greenply Industries Q1 FY27 Results: Revenue Rises 21%, PAT Jumps 32% Led by Strong MDF and Plywood Growth
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Greenply Industries Q1 FY27 Results: Revenue Rises 21%, PAT Jumps 32% Led by Strong MDF and Plywood Growth

BY ADMIN • FILED 24 Jul 2026, 10:34 PM

Greenply Industries Limited released its investor presentation for the first quarter of FY27, reporting strong financial and operational performance driven by robust growth in its Medium Density Fibreboard (MDF) business and steady momentum in its core plywood segment.

The company delivered double-digit growth in revenue, EBITDA, and net profit while maintaining a healthy balance sheet and improving working capital efficiency.

Greenply Industries Q1 FY27 Financial Highlights

On a consolidated basis, Greenply Industries reported impressive growth during the quarter ended June 30, 2026:

  • Revenue from Operations: ₹724.9 crore, up 20.7% year-on-year from ₹600.8 crore in Q1 FY26.
  • Core EBITDA: ₹78.3 crore, registering 27.1% YoY growth compared with ₹61.6 crore.
  • Core EBITDA Margin: Expanded by 50 basis points to 10.8%.
  • Profit Before Tax (PBT): ₹49.5 crore, increasing 36.7% year-on-year.
  • Profit After Tax (PAT): ₹37.6 crore, up 32.2% from ₹28.5 crore reported in Q1 FY26.

The strong earnings performance was supported by higher sales volumes, improved product realizations, and continued operating leverage.

Plywood Business Delivers Steady Growth

Greenply’s core Plywood and Allied Products business continued to record healthy growth across key operating metrics.

Key Highlights

  • Revenue: ₹526.6 crore, up 16.0% year-on-year.
  • Sales Volume: 19.4 million square metres (MSM), an increase of 13.8%.
  • Average Realization: Improved to ₹265 per square metre, compared with ₹255 in the corresponding quarter last year.
  • Core EBITDA: ₹44.5 crore, growing 23.5% year-on-year.
  • Core EBITDA Margin: Improved to 8.4%.

The segment benefited from healthy demand, improved pricing, and operational efficiencies.

MDF Business Continues Strong Momentum

The Medium Density Fibreboard (MDF) business remained the company’s fastest-growing segment during the quarter.

Key Highlights

  • Revenue: ₹195.7 crore, rising 32.8% year-on-year.
  • Sales Volume: 57,805 cubic metres (CBM), up 24.7%.
  • Average Realization: Increased 5.5% to ₹33,525 per CBM.
  • Core EBITDA: ₹33.9 crore, up 32.2% year-on-year.
  • Core EBITDA Margin: Maintained a healthy 17.3%.

The strong performance reflects continued demand for MDF products and improved pricing across key markets.

Healthy Balance Sheet and Improved Working Capital

Greenply Industries maintained a strong financial position while improving operational efficiency.

As of June 30, 2026:

  • Gross Debt: ₹554 crore.
  • Net Debt: ₹533 crore.
  • Net Debt-to-Equity Ratio: 0.57x.

The company also reported significant improvement in working capital management:

  • Working Capital Days: Reduced to 42 days, compared with 58 days in Q1 FY26.

The improvement reflects better inventory management, efficient receivables collection, and disciplined capital allocation.