Greenply Industries

Greenply Industries is the market leader in the interior infrastructure sector and is engaged in manufacturing plywood, laminates, decorative veneers, particle boards and allied products. It even markets the most comprehensive portfolio of residential and commercial floor products. 

The company accounts for almost 25% of the organized plywood and 15% of the organized laminate market in India. Its brands like ‘Greenply’ & ‘Green Club’ in the plywood segment and ‘Greenlam’ & ‘Green Decowood’ in the laminate segment are the leading brands. ‘Greenlam’, the flagship decorative laminate brand is exported to over 65 countries.

It has the largest pan-India marketing network with 38 branch offices and over 15,000 distributors, dealers, sub-dealers and retailers across 17 states covering 300 cities.

It is the only integrated manufacturer in India with manufacturing units spread across six states Nagaland, West Bengal, Uttarakhand, Rajasthan, Himachal Pradesh and Gujarat. 

Importantly, the company has of late forayed into the lucrative, high-growth MDF market with the largest MDF plant of 180,000 capacity. MDF holds tremendous potential for the future as presently the Indian industry comprises 80:20 of plywood: MDF but the reverse holds true globally. China alone consumes about 10mn–11mn m3/year of MDF vs. 0.6 mn m3/year in India. Incidentally, even out of the present MDF consumption in India, 80% is being met through imports, which the company can easily substitute. 

On the other hand, it is also looking to expand its overseas presence. It has opened representative offices in Singapore and Dubai and has even formed a subsidiary in USA to explore new market opportunities for laminates in North America.

For FY12, its sales increased by 25% to Rs.1644 crore whereas PAT more than doubled to Rs.53 crore on a standalone basis posting an EPS of Rs.22 on its current equity of Rs.12.10 crore having a face value of Rs.5 per share. On a consolidated basis, it is doing slightly better with a PAT of Rs.57 crore.