Greenpanel Industries (GREENPANEL) investor relations material

Executive summary

• Q3 FY26 achieved 11.4% year-on-year revenue growth to ₹398.8 crores, driven by a 17% increase in MDF volumes and strong sales and marketing initiatives.

• New product launches, including HDWR Door, Thin MDF, FRMDF, and BWP HDF, expanded the portfolio and market reach.

• Enhanced digital outreach, dealer engagement, and loyalty programs, such as the MITR 2.0 app and Privilege Club Bali Tour, supported growth.

• Unaudited financial results for Q3 and nine months ended December 31, 2025, were reviewed and approved by the Board and Audit Committee.

Financial highlights

• Q3 FY26 revenue was ₹398.8 crores, up 11.4% year-over-year; gross margin improved to nearly 50% due to raw material savings.

• Operating EBITDA margin (excluding FX/one-offs) was 11.2%; MDF EBITDA margin at 11.9%, plywood at 1.4%.

• Net profit after tax for Q3 FY26 was ₹10.2 crores, impacted by currency loss (~₹3 crores in Q3, ~₹43 crores in 9MFY26) and higher depreciation/interest from the new MDF plant.

• Net debt stood at ₹163 crores as of December 31, 2025, with a net reduction of ₹40 crores over nine months; cash conversion cycle improved to 32 days.

• Earnings per share for Q3 FY26 was ₹0.83, compared to ₹0.69 in Q3 FY25.

Outlook and guidance

• Full-year FY26 guidance unchanged: targeting high-teens MDF volume growth and operating EBITDA (excluding FX/one-offs) in high single to early double digits.

• No price hikes expected in the near term due to competitive domestic pricing and limited import threat.

• FY27 volume and margin guidance deferred until Q4 results; company monitoring regulatory changes, including new labour codes.

• Focus remains on driving volume growth, cost optimization, and profitability through operational efficiencies and market expansion.