Greenpanel Industries Limited is engaged in the manufacturing of plywood, medium density fibre boards (MDF) and allied products. Greenpanel Industries is India's largest manufacturer of wood panels, including medium-density fibreboard (MDF) and plywood. The company, headquartered in Kolkata, has established itself as a dominant player in the organized wood panel industry through its focus on quality manufacturing and sustainable practices.
Greenpanel Industries Limited is an India-based manufacturer of wood panels. The Company is primarily engaged in manufacturing of plywood, plain and pre-laminated medium density fiberboards (MDF) boards and allied products. It also produces doors and veneers to service domestic and international customers. The company operates through two main business segments: Plywood and allied products, and Medium density fibreboards and allied products.
Founded in 2017, they have two state-of-the-art manufacturing facilities in Uttarakhand and Andhra Pradesh, with an annual capacity of 588,000 cubic meters of MDF. It operates state-of-the-art manufacturing facilities and serves residential and commercial markets across India and exports to over 60 countries. The company's manufacturing setup demonstrates its commitment to scaling operations while maintaining quality standards.
In a significant development, Greenpanel Industries announced that the commissioning of a new MDF plant at its existing unit in the Tirupati district (Andhra Pradesh), with an installed capacity of 2,31,000 CBM per annum, has been successfully completed. The company has commenced trial production of the thin MDF range, with thicknesses ranging from 1.5 mm to 1.7 mm, as of today. This expansion enhances the company's production capabilities and positions it for future growth.
Greenpanel Industries holds a 27% market share in the organized MDF segment. This substantial market presence reflects the company's strong brand positioning and customer trust. It is the only company in the Medium Density Fibreboard (MDF) category to be included among Ecolabelled products. This unique environmental certification provides Greenpanel with a competitive edge in an increasingly sustainability-conscious market.
The company's product portfolio is comprehensive, covering multiple segments of the wood panel market. The Company's products categories include club grade, medium density fiberboard, flooring, plywood and blockboard, veneers and doors. This diversified product range allows the company to cater to various customer needs and market segments.
As of the latest available data, Greenpanel Industries Ltd has a market capitalisation of ₹3,071 crore. The company's financial performance has faced some challenges in recent periods. Kolkata-based wood panel manufacturer Greenpanel Industries announced that the company's profit fell to ₹72.1 crore in FY25, down by nearly 47 per cent from ₹135.24 crore in the previous fiscal (FY24).
For the quarter ended March 2025 (Q4 FY25), Greenpanel's revenue from operations dropped by 5.6 per cent to ₹374.5 crore compared to ₹396.5 crore in the same quarter last financial year. For the full financial year, Greenpanel's total income stood at ₹1,458.33 crore, down by 8.18 per cent from ₹1,588.17 crore reported in FY24.
- Revenue from operations: ₹374.5 crore (down 5.6% YoY)
- Net profit: ₹29.4 crore (down 1.4% YoY)
- EBITDA: ₹47.9 crore (down 6.9% YoY)
- EBITDA margin: 12.8%
- Total income: ₹1,458.33 crore (down 8.18% YoY)
- Net profit: ₹72.1 crore (down 47% YoY)
Greenpanel Industries has positioned itself as an environmentally conscious manufacturer. The company's Andhra Pradesh factory has been rated as an environment showpiece, validated by the IGBC Green Factory Building with a gold rating for sustainable manufacturing practices. Greenpanel Industries provides clonal saplings to farmers to raise specific wood species that consume less water and comprise a relatively short gestation period.
The company's commitment to sustainability extends beyond its manufacturing processes. The company also has a team that focuses on fostering environmentally sustainable practices in its manufacturing facilities. This focus on environmental responsibility aligns with global trends toward sustainable manufacturing and helps the company maintain its eco-label certification.
Recent corporate developments include key management changes. Greenpanel Industries Ltd has appointed Himanshu Jindal as the new Chief Financial Officer, effective June 2, 2025. Jindal brings over 23 years of financial leadership experience, previously serving as CFO at Orient Bell Ltd and DEN Networks Ltd. The outgoing CFO, Vishwanathan Venkatramani, will transition to the role of President – Finance, marking a significant step in the company's growth strategy.
The company maintains strong corporate governance practices and regulatory compliance. Promoter holding in Greenpanel Industries Ltd has gone up to 53.13 per cent as of Mar 2025 from 53.13 per cent as of Jun 2024. This stable promoter holding indicates management confidence in the company's long-term prospects.
Despite recent financial challenges, the company remains focused on growth initiatives. "Widening distribution reach, increasing domestic volumes and proportion of value added products, increasing the Greenpanel brand value and increasing plantations will be our major focus areas in future quarters," said MD and CEO Shobhan Mittal. However, the company aims for ₹1,700 crore revenue by FY26 through MDF production expansion and market share recovery.
The company's strategic focus on expanding its distribution network and increasing the proportion of value-added products positions it well for future growth. The completion of the new MDF plant in Andhra Pradesh adds significant production capacity, which should support the company's revenue growth objectives in the coming years.
Greenpanel Industries continues to leverage its position as India's largest wood panel manufacturer while focusing on sustainable practices and operational efficiency to navigate current market challenges and capitalize on long-term growth opportunities in the wood panel industry.
