Greenpanel Industries has announced that
its medium-density fibreboard (MDF) factory in Chittoor, Andhra Pradesh, will
be closed for roughly eight days (approximately) beginning January 17, 2022.
“Due to the integration of new
machinery (Mat Heating System) to speed up the manufacturing process and boost
capacity utilisation,” the reason for the shutdown.
The installation of the machinery is
expected to cost around Rs 8-10 crore (approx.) and will raise the plant’s
output capacity from the current 3,60,000 CBM to the revised 4,44,000 CBM
(approx.) per year.
Greenpanel Industries’ net profit increased
264.60 percent to Rs 67.05 crore in Q2 September 2021 over Q2 September 2020,
thanks to a rise of 87.76 percent in net sales to Rs 422.22 crore.
Greenpanel Industries’ stock rose 2.57
percent to Rs 463.75 on the BSE. Greenpanel Industries is India’s largest wood
panel maker. Its production facilities in Uttarakhand and Andhra Pradesh
produce high-quality MDF, plywood, veneers, flooring, and doors. Courtesy: www.business-standard.com
