Greenpanel Industries (GREENPANEL) Q4 25/26 earnings summary

Executive summary

• FY 2026 was transformational, marked by a new MDF line in Andhra Pradesh, double-digit topline growth, and strategic shifts toward customer excellence, sales, and digital outreach.

• Domestic MDF volumes grew 16.9% for the year, with total MDF volumes (including exports) up 12.9%; new high-value MDF products and a revamped loyalty app were launched.

• Net profit was impacted by currency losses on Euro-denominated borrowings and higher depreciation/interest from the new MDF plant.

• Audited financial results for FY26 were approved with an unmodified opinion; a final dividend of Rs. 0.50 per equity share was recommended.

Financial highlights

• FY26 revenue reached ₹153,936.87 lakhs (₹1,502.2 crore), up 7.8% year-over-year; Q4 revenue was INR 391 crores, up 15.5%.

• Operating EBITDA margin for FY26 was 8.8% of sales; reported EBITDA was INR 94.2 crores (6.3% margin) after exceptions.

• Net profit after tax for FY26 was ₹7,210.89 lakhs; EPS stood at ₹5.88.

• Net debt stood at ₹156 crore at year-end, with a cash conversion cycle of 38 days.

• Gross margin improved to 48.2% in FY26, up 130 bps year-over-year.

Outlook and guidance

• No formal volume or margin guidance for FY27 due to geopolitical and cost uncertainties; focus remains on volume growth, margin improvement, and cost optimization.

• Industry MDF demand expected to grow at early double digits to mid-teens; company aims to outperform market growth.

• No significant CapEx planned for FY27; only maintenance CapEx of INR 20-30 crores.

• Leverage and liquidity remain comfortable to support future growth.