Greenply Industries - Plywood Recovers; Logistic Issues Impact Gabon: ICICI Direct

Panels of uncut cross-laminated timber sit on the back of a truck in factory. (Photographer: Akos Stiller/ Boomberg).

Greenply Industries - Plywood Recovers; Logistic Issues Impact Gabon: ICICI Direct


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Greenply Industries Ltd. reported robust growth, albeit on a benign base (~12% YoY decline in Q4 FY20).

The topline at Rs 396.7 crore was up 15.1% YoY driven by 20.9% growth in plywood revenues at Rs 359.4 crore.

Ebitda margins expanded 279 basis points YoY to 11.5%, owing to cost rationalisation and operating leverage benefits.

Profit after tax was at Rs 28.6 crore versus loss in the base quarter owing to one-time exceptional hit of ~Rs 50 crore (reversal of excise duty benefit on retrospective basis due to Supreme Court ruling).

Click on the attachment to read the full report:

ICICI Direct Greenply Industires Company Update.pdf


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