Greenply Industries (GREENPLY) Q4 25/26 earnings summary

Executive summary

• Achieved double-digit year-on-year growth in both volume and value across business segments for FY 2026, with strong momentum continuing into Q1 FY 2027.

• Leadership transition with the resignation of the JMD & CEO, who will remain as an advisor; management structure and succession plans in place.

• Income Tax Department conducted a search and seizure operation; no demand or penalty order received, and no financial impact currently assessed.

• One-time impairment and exceptional losses related to Middle East operations and regulatory changes, fully provided for in books.

• Audited standalone and consolidated financial results for FY26 were approved and published, with unmodified opinions from auditors.

Financial highlights

• Q4 FY26 consolidated revenue reached ₹776.2 crore, up 19.6% YoY; full-year revenue at ₹2,739 crore, up 10.1% YoY.

• Q4 consolidated core EBITDA at ₹93.2 crore (margin 12%), up 37% YoY; full-year core EBITDA at ₹270.5 crore, up 13.8% YoY.

• Q4 FY26 PAT before income tax refund: ₹31.0 crore (up 86.7% YoY); 12M FY26: ₹89.8 crore (up 12.5% YoY).

• Dividend of ₹0.50 per share (50% of face value) recommended for FY26.

• Consolidated net profit for FY26 was ₹8,977.98 lakhs, slightly down from ₹9,172.37 lakhs YoY.

Outlook and guidance

• Targeting 10% volume growth in plywood and 25%-30% in MDF for FY27.

• Confident in sustaining current EBITDA margins in both MDF and plywood segments, with further margin improvement expected in H2 as new technology is implemented.

• Effective tax rate guided at approximately 22% for the next fiscal year.

• Continued focus on product portfolio expansion, automation, digitization, and manufacturing base expansion.