Greenply Industries' net profit increases 26.33% in Q2 FY25

29 Oct 2024 CW Team

Greenply Industries reported a 26.33% rise in its net consolidated profit for the quarter ended September 30, 2024. Profit after tax stood at Rs 175.6 million, compared to Rs 139 million in the same quarter last year, the company announced in a BSE filing.

The company's net consolidated total income grew 12.52% to Rs 6.42 billion in Q2 FY25, up from Rs 5.70 billion in the corresponding quarter of the previous fiscal.

Manoj Tulsian, Joint Managing Director & CEO, stated, "While our plywood business has shown consistent growth, margins remain under pressure due to high raw material costs and product mix changes. We are actively working on strategies to improve profitability. The MDF business faced a decline in revenue on a quarter-over-quarter basis due to a plant shutdown and power cuts in Gujarat. However, we remain optimistic about stronger performance in the second half, aiming to meet our 50% annual revenue growth target. Our Furniture & Fittings JV will begin full-scale production from November 2024, following successful equipment installation and trial runs."

In Q2 FY25, revenue from the plywood and allied products segment stood at Rs 514 crore, growing 7.5% year-on-year, with a sales volume of 20.2 million square meters (MSM) and realisation at Rs 251 per square meter—an improvement of 2.4%.

The MDF segment reported revenue of Rs 1.26 billion, with a sales volume of 40,553 cubic meters (CBM) and realisation at Rs 31,169 per CBM during the quarter. (ET)

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane–Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..