Greenpanel Industries Ltd — earnings calls

Greenpanel reported Q1 FY27 revenue of INR350 crore, up 8.5% year-on-year, with domestic MDF volumes growing 12% while OEM sales degrew 14% and exports fell to zero due to Middle East volatility affecting chemical and freight costs. Consolidated operating EBITDA excluding currency impact was INR33.5 crore, or 9.6% of revenues, with MDF operating EBITDA margin expanding to 10.3% from 4.4% a year earlier. Management implemented phased price hikes of around 15% in April to offset rising chemical costs, though these were subsequently rolled back in a mix of ways across the quarter due to competitive pressure.

Greenpanel reported Q4 FY26 revenue of INR391 crore, up 15.5% year-on-year, with full year revenue at INR1502 crore, up 7.8%. Consolidated operating EBITDA for the full year was INR132.7 crore or 8.8% of revenues, while reported EBITDA was INR94.2 crore or 6.3% of revenues after currency and one-off impacts, resulting in a full-year PAT of negative INR29.1 crore. Management described a 15% MDF price increase taken in phases to offset chemical cost inflation and said it would refrain from giving formal FY27 volume or margin guidance given uncertainty from the Middle East conflict's impact on supply chains and exports.