The company’s revenue during the
October-December period of the 2021-22 fiscal was Rs 421.1 crore, up by over 23
per cent on a year-on-year (y-o-y) basis.
Greenply Industries Ltd, a plywood
manufacturer, reported a 19% increase in consolidated net profit for the third
quarter of the current fiscal at Rs 29.8 crore, owing to greater sales. The
company’s revenue for the October-December period of the 2021-22 fiscal year
was Rs 421.1 crore, growing more than 23% year over year (y-o-y). It claimed
gross margin was 38.7%, down 3.34 percent year over year owing to COVID-related
interruptions and cost increases.
The company is setting up a Greenfield
plywood manufacturing unit with a capacity of 13.5 million square metre per
annum in Uttar Pradesh.
“The plant’s machinery erection work
is underway and trial runs are expected in March 2022. Commercial operations
will commence in the first quarter of the next fiscal,” a company
statement said.
It
is also constructing a Greenfield medium density fibreboard (MDF) manufacturing
unit with a capacity of 800 cubic metre per day in Vadodara of Gujarat.
“All
plant and machinery have been ordered and construction activities are in full
swing,” it added. Courtesy: www.realty.economictimes.indiatimes.com
