Greenply - Green Is The Colour Of Money

Greenply Industries Q1 Net Profit Up 101%

Strong sales growth across its product categories of plywood, laminate and decorative veneer helped India’s largest interior infrastructure manufacturer Greenply Industries Limited (GIL) report a revenue of Rs 116 crore for the quarter ended June 30, 2007, representing a growth of 37% over the corresponding period last year. The company had posted a revenue of Rs 84.60 crore for the quarter ended June 30, 2006.

Against a net profit of Rs 4.51 crore for the quarter ended June 30, 2006, the company has posted a net profit of Rs 9.07 crore during Q1 2007-08; a growth of 101%.

According to GIL Joint Managing Director Saurabh Mittal, a combination of higher capacity utilisations, rupee appreciation resulting into reduced raw material cost, benefits of excise reduction, improved product mix and visibility and buoyancy in the market had led to the improved margins.

“Greenply”, he added, “has a range of products that has given us the status of a one-stop manufacturer of all products related interior infrastructure from plywood & boards, flush doors, decorative veneers, decorative laminates to pre lam MDF and particleboard.”

GIL accounts for 25 per cent of organized plywood and 15 per cent of organized laminate market.

Greenply Industries has recently begun commercial production at its Behror plant in Rajasthan after completing its expansion project. The capacity of the Behror plant is now at 53.40 lakh sheets from the earlier 39.60 lakh sheets, making Greenly India’s largest laminate producer. The plant was originally scheduled to commence commercial production in August.

Greenply had put in an investment of Rs 40 crore to set up of a fourth production line at Behror. The expansion was undertaken to meet the growing demand for decorative laminates in India and abroad.