Greenply Industries Limited Earnings Summary — Q1 FY2027
Greenply Industries Reports Solid Top-Line Growth with 20.6% Consolidated Revenue Increase and Improving Net Margins
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 6.6% sequentially in Q1 FY2027.
- Revenue of ₹725 Cr is 20.7% higher year-on-year.
- Revenue has compounded at 8.8% annualised over the last 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹38 Cr is 32.0% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 13.2% annualised across the period.
- Operating margin stands at 10.0% in Q1 FY2027.
- Operating margin expanded by 128 bps year-on-year.
- Over the last two years operating margin has expanded by 87 bps.
- PBT margin is 6.8%.
- Expense growth of 19.0% remained below revenue growth of 20.7%.
- Operating profit of ₹73 Cr is 38.3% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 69/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 725 | 776 | 673 | 689 | 601 | 649 | 614 | 640 | 584 | 600 |
| Expenses | Stable | 652 | 690 | 622 | 638 | 548 | 602 | 564 | 587 | 531 | 543 |
| Operating Profit | Accelerating | 73 | 87 | 51 | 51 | 52 | 46 | 51 | 53 | 53 | 57 |
| Operating Margin | Accelerating | 10.0% | 11.2% | 7.6% | 7.4% | 8.7% | 7.2% | 8.3% | 8.3% | 9.1% | 9.5% |
| Other Income | Volatile | 2 | -13 | -3 | 2 | 18 | 6 | 3 | 2 | 6 | 4 |
| Interest | Volatile | 7 | 13 | 10 | 13 | 19 | 13 | 5 | 14 | 10 | 9 |
| Depreciation | Stable | 17 | 17 | 17 | 16 | 15 | 15 | 15 | 15 | 15 | 15 |
| Profit Before Tax | Accelerating | 49 | 44 | 22 | 23 | 36 | 24 | 33 | 26 | 34 | 38 |
| Tax | Volatile | 12 | 13 | 8 | 7 | 8 | 8 | 9 | 8 | 1 | 9 |
| Net Profit | Volatile | 38 | 31 | 14 | 16 | 28 | 16 | 24 | 18 | 33 | 28 |
| Net Margin | Volatile | 5.2% | 4.0% | 2.1% | 2.3% | 4.7% | 2.5% | 4.0% | 2.8% | 5.7% | 4.7% |
Key Takeaways
- Consolidated revenue grew 20.6% YoY driven by strong performance across Plywood and MDF segments.
- MDF segment revenue surged 32.8% YoY to ₹19,566 lakhs, demonstrating healthy traction in the newer business vertical.
- Plywood segment results improved to ₹3,733 lakhs compared to ₹3,232 lakhs in the same quarter last year.
- Finance costs significantly reduced YoY to ₹748 lakhs from ₹1,851 lakhs, primarily due to lower forex fluctuation losses.
- Consolidated Net Profit (Owners) grew by 32% YoY to ₹3,752 lakhs, benefiting from operational scale and reduced finance charges.
- Segment-wise performance shows MDF margins (Results/Revenue) improved to 13.3% from 10.7% YoY.
- Consolidated results include a share of loss from the Greenply Samet joint venture amounting to ₹573.79 lakhs.
Management Guidance
Management execution continues to focus on the premium segment and brand consolidation. The company is successfully scaling its MDF capacity in Gujarat to capture market share in organized wood panels.
Sentiment Shift
Improving
Profitability is recovering following the intense investment cycle and forex volatility experienced in previous years. Margin expansion in the MDF segment is a key positive trigger.
Outlook
The company maintains a dominant 26% share in the organized plywood market and is effectively diversifying into MDF. Improving capital efficiency and debt management are critical long-term performance drivers.
From the Annual Report (Key Quotes)
“The Company's business activity fall within two operating segments, namely Plywood and allied products and Medium density fibreboard and allied products.”
“Finance costs includes the effect of foreign exchange fluctuation loss/(gain)... regarded as an adjustment to finance cost.”
“Based on our review... nothing has come to our attention that causes us to believe that the accompanying Statement... has not disclosed the information required.”
Official Quarterly Documents
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This summary is AI-generated from Greenply Industries Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.