Greenply Industries Limited has announced its unaudited financial results for the quarter and nine months ending December 31, 2024. The company reported a net profit of ₹2,435.40 lakh in Q3 FY2024-25, marking a slight decline from ₹2,616.74 lakh in the previous quarter.
Key Financial Highlights (Standalone)
- Revenue from operations: ₹46,229.39 lakh, down from ₹50,177.88 lakh in Q2 FY2024-25.
- Total income: ₹47,501.01 lakh, reflecting a marginal drop from ₹51,336.11 lakh in the previous quarter.
- Profit before tax: ₹3,247.06 lakh, compared to ₹3,519.45 lakh in Q2 FY2024-25.
- Total expenses: ₹44,253.95 lakh, down from ₹47,816.66 lakh in the preceding quarter.
- Earnings per share (Basic): ₹1.96 (compared to ₹2.11 in Q2 FY2024-25).
Despite the revenue contraction, the company managed to maintain profitability, attributed to cost control measures and stable demand for its plywood and allied products.
Consolidated Financial Performance
On a consolidated basis, the company’s revenue from operations stood at ₹61,445.38 lakh, down from ₹64,047.76 lakh in Q2 FY2024-25. However, profit from continuing operations grew to ₹2,436.28 lakh, up from ₹1,756.23 lakh in the previous quarter.
Strategic Developments
- Investment in Renewable Energy: The company acquired a 26% stake in Clean Max Delirio Private Limited to develop a hybrid (solar and wind) captive power generation facility in Gujarat.
- Regulatory Compliance: Greenply addressed a regulatory issue concerning an INR 5,500 lakh bank guarantee for its joint venture, Greenply Samet Private Limited, obtaining necessary shareholder approval in Q2 FY2024-25.
- Tax Refund Impact: The company received a refund of ₹2,574.94 lakh (including ₹786.70 lakh in interest) from the tax authorities, with 50% of the amount to be shared with Greenpanel Industries Limited as per a prior demerger agreement.
While the company witnessed a slight revenue decline in Q3, its long-term outlook remains stable, supported by strategic investments and cost optimization measures.
