Synopsis:- Crossing both quarterly and annual revenue milestones, Greenply Industries has reported its highest ever consolidated quarterly revenue of Rs. 776.2 crore in Q4 FY26 and full-year revenue of Rs. 2,739 crore
Shares of a leading plywood and MDF manufacturer came into focus on April 28, 2026, after the company issued a press release alongside its audited financial results for the quarter and year ended March 31, 2026.
With a market capitalization of Rs. 3,607.92 crore, the shares of Greenply Industries were trading at Rs. 288.78 per share, went up to 15.3 percent from its previous close of Rs.254.59. It is trading at a P/E of 26.68.
Consolidated revenue for Q4 FY26 stood at Rs. 776.2 crore, a 19.6 percent increase over the year-ago quarter and the company’s highest ever quarterly figure. Consolidated core EBITDA came in at Rs. 93.2 crore with margins expanding 330 basis points sequentially to 12.0 percent from 8.7 percent in Q3. Consolidated net profit for the quarter was Rs. 31.0 crore, though this figure is restrained by an exceptional one-time charge of Rs. 15.2 crore, the specific nature of which the press release does not elaborate.
The plywood business which aggregates the standalone entity and its subsidiaries reported Q4 revenue of Rs. 588.5 crore, up 14.6 percent year-on-year, with volume growth of 15.6 percent. Core EBITDA margin for the segment improved to 10.4 percent from 8.4 percent in Q3, a sequential gain of 200 basis points. Management attributed the pickup in volumes to the successful implementation of new processes and systems, and noted sequential double-digit volume growth from Q3 onward.
The MDF segment was the outperformer of the quarter. Revenue of Rs. 189.4 crore was up 39.6 percent year-on-year, and volume growth of 45.3 percent signals that the post-expansion ramp-up is now fully in stride. Core EBITDA margin surged to 17.0 percent from 10.1 percent in Q3, a sequential improvement of 690 basis points. Q4 FY26 was, per management, the first fully operational quarter following the MDF capacity expansion, and the margin outcome validates the thesis that utilisation-linked operating leverage would kick in once volumes stabilised.
For the full year ended March 31, 2026, Greenply reported consolidated revenue of Rs. 2,739.0 crore, up 10.1 percent over FY2025 and a record for the company. Core EBITDA for the year was Rs. 270.5 crore, up 13.8 percent, with a margin of 9.9 percent. Consolidated net profit for FY26 was Rs. 89.8 crore, with the exceptional one-time item trimming the reported figure by Rs. 14.6 crore.
The plywood business contributed revenue of Rs. 2,105.7 crore for the year at an EBITDA margin of 8.8 percent, while MDF added Rs. 635.6 crore at a 13.4 percent EBITDA margin.
One consistent drag across the year was the Greenply Samet joint venture with Turkish furniture fittings manufacturer Samet. The JV reported total revenue of Rs. 44.27 crore for FY26, but Greenply’s 50 percent share of the PAT loss amounted to Rs. 25.4 crore, a material hit to consolidated profitability that offsets a portion of the operating gains from the core businesses. Management expressed confidence in significant JV growth in the coming year, though this has been a recurring qualitative commitment without yet a decisive inflection in the numbers.
Business Overview
Greenply Industries Limited, established in 1990 and listed on BSE and NSE, is one of India’s leading manufacturers of plywood and allied panel products, including MDF, blockboards, decorative veneers, and flush doors. The company holds approximately 26 percent of the organised plywood market. It operates five manufacturing facilities across India and distributes across more than 1,100 cities through over 3,000 dealers and 6,000-plus retail touchpoints.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Greenply Shares Jump 15% After Q4 Revenue Reaches ₹776 Cr appeared first on Trade Brains.