Review

GREENPANEL INDUSTRIES LTD.

Ticker : 542857
FV : ₹ 1 
52-Week H/L : ₹ 575/150.30

We recommended Greenpanel Industries in volume no. 38, issue no. 20, dated March 07, 2022. Greenpanel Industries Limited is the largest manufacturer of medium-density fibreboard and wood panels in India’s and Asia. On the consolidated quarterly front, the company recorded net sales and operating income of Rs 424.42 crore for Q3FY22, registering a growth of 33.92 per cent. The operating profit ascended by 64.77 per cent to reach Rs 113.38 crore in Q3FY22 from Rs 68.81 crore posted in Q3FY21. The net profit was reported at Rs 63.08 crore in Q3FY22 from Rs 30.45 crore in Q3FY21, shining the growth numbers. Weak demand remains a risk for the company as the fall in capacity utilisation may result in pricing pressure and lower margins. It has foreign borrowings of EUR 22 million from a German bank. Any volatility in forex may affect financials. Hence, we recommend our investor-readers to BOOK PROFIT at Rs 540 per share, with a gain of 11.67 per cent.