Greenply Industries Ltd

Q1 FY27Consumer Durables

Greenply Industries Q1 FY27: Capex ₹500 Cr

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹287

Market cap₹3.7K Cr

P/E32.8

Updated25 Aug 2026

Read4 min read

What the Q1 FY27 call signalled

2 of 4 strong

RevenueModerate growth

MarginMargins steady

CapexCapex planned

FundraiseFundraise planned

The short version

Plywood segment targets 10% volume growth for the full year FY27 (Page 4, 14). Greenply Industries expects sustained double-digit volume growth: ~10% in plywood and 25-30% in MDF for FY27.

From Greenply Industries Ltd's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.

Revenue & Sales Performance

Moderate growth

Plywood segment targets 10% volume growth for the full year FY27 (Page 4, 14).
MDF segment aims for 25% to 30% volume growth for the full year FY27 (Page 4).
Furniture and fittings JV revenue target is approximately INR 120-150 crores for FY27 and FY28, with losses expected to reduce as domestic manufacturing replaces imports (Page 14).
Peak capacity revenue for MDF flooring estimated between INR 75-80 crores (Page 10).
Post capex completion, expected reduction in cost and improved gross margins in furniture fittings business leading to profitability (Page 13-14).

2 more points management made on revenue & sales performance

Profitability & Margins

Greenply Industries expects sustained double-digit volume growth: ~10% in plywood and 25-30% in MDF for FY27.
Targeting 10%+ EBITDA margins in plywood, with potential to reach 13-15% at higher scale (600-800 crores quarterly revenue).
MDF segment aims for sustainable EBITDA margins around 16-17%, with potential 1% improvement post capacity expansion.
Furniture fittings JV currently loss-making but expected to zero losses by mid-next year and turn profitable thereafter.
Debt peak expected by March 31, 2027 (~710-730 crores), with debt-to-equity declining post-capex.

2 more points management made on profitability & margins

See what Greenply Industries Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned

For FY27, Greenply plans a total capex of approximately ₹500 crores:
Parent standalone (GIL): ~₹47 crores (including loss funding for SAMET)
GSPL: ~₹100 crores
GSPPL: ~₹300 crores
Hardware business capex:
Phase two capex expected by end of FY27/start of FY28 to enable full domestic manufacturing of currently imported furniture fittings.
MDF segment:
Second plant capex is much lower per cubic meter compared to the first plant, focusing on improving asset turn.
New MDF line uses a combination of Chinese and European machinery for better efficiency.
Plywood segment:

2 more points management made on capital expenditure plans

Top-ranked in Consumer Durables

Ranked on what management guided this quarter

5x potential

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3₹2.3K Cr

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4₹1.9K Cr

Rev 1Mar 3

5₹1.6K Cr

Rev 1Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

No specific mention of any new fundraising through debt or equity in the current quarter's discussion.
Peak debt guidance given at around INR 710-730 crores by March 31, 2027, with a target to reduce debt-equity ratio below 0.7 within six months after that.
No announcement of fresh debt or equity raising; focus remains on managing existing debt and capital expenditure.

2 more points management made on fundraising & capital structure

See what Greenply Industries Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided pages (including page 15-16) of the Greenply Industries Limited Q1 FY27 earnings call transcript do not explicitly mention any details on the current or expected order book or pending orders. The discussion primarily covers: - Business segments performance (plywood, MDF, furniture fittings) - Revenue growth and margin guidance - Capex plans and manufacturing expansions - Impact of import policies and pricing

2 more points management made on order book & pipeline

Greenply Industries Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹776 Cr, net profit ₹31 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Greenply Industries Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Greenply Industries Ltd Q1 FY27 results?

Plywood segment targets 10% volume growth for the full year FY27 (Page 4, 14). Greenply Industries expects sustained double-digit volume growth: ~10% in plywood and 25-30% in MDF for FY27.

What is Greenply Industries Ltd share price analysis?

Greenply Industries Ltd currently shows a below-average growth signal. The stock trades at a P/E of 32.8 with a market cap of ₹3,666 Cr. Investors should review the full earnings analysis for detailed insights.

Is Greenply Industries Ltd planning capital expenditure?

For FY27, Greenply plans a total capex of approximately ₹500 crores: - Parent standalone (GIL): ~₹47 crores (including loss funding for SAMET) - GSPL: ~₹100 crores - GSPPL: ~₹300 crores - Hardware business capex: - Phase two capex expected by end of FY27/start of FY28 to enable full domestic manufacturing of currently imported furniture fittings.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.