GreenPly Industries increased profitability of operations amid lower revenues in FY4Q2016/17 (ended March 31, 2017). According to the announcement, the company’s net sales accounted for INR 446.6 million (around USD 6.9 million) in the quarter ended March 31, 2017 versus INR 448.1 million in the same period a year ago. The company made INR 74.9 million EBITDA generating 16.8% margin.
For the complete FY2016/17 GreenPly’s net sales accounted for INR 1,654.9 million, EBITDA totaled INR 257.6 million (15.6% margin).
Earlier Greenply Industries installed a new chipping line and defibrator system at MDF production line at its new fiberboard mill in India.
About GreenPly Industries:
The company is a leading Indian producer of plywood and MDF. Its market share accounts for almost 30% of the organized plywood and 30% of the MDF market in India. GIL has four state–of-the-art manufacturing facilities for Plywood and one facility for MDF spread across the country producing world class interior products for the domestic and global markets. It is also present in more than 300 cities across 21 Indian states serviced through a well-entrenched distribution network of 1,620 distributors and 10,000 retailers and 48 branches pan-India.