Greenply Industries Limited announced key decisions from its Board of Directors meeting held on February 4, 2026. The board approved the proposed expansion of the Medium Density Fibreboard (MDF) plant capacity of its wholly-owned subsidiary, Greenply Speciality Panels Pvt. Ltd. (GSPPL), located in Vadodara, Gujarat. The expansion aims to add 600-700 CBM per day capacity, with an estimated investment of approximately ₹425 crores, to be financed through a mix of borrowings, equity, and internal accruals. This expansion is expected to be completed by Q2 FY2028, driven by the growing demand for MDF products. Additionally, the Board approved the termination of the Joint Venture (JV) agreement with Alkema! Singapore Pte. Ltd. dated January 30, 2014. Greenply Holdings Pte. Ltd., Singapore (a wholly-owned subsidiary of Greenply Industries), will acquire the 50% shares held by Kulmeet Singh in Greenply Alkema! (Singapore) Pte. Ltd. for a nominal consideration of USD 1. This move will result in Greenply Alkema! ceasing to be an associate of Greenply Industries. The company also approved a further investment of up to ₹125 crores in GSPPL, in one or more tranches, to support the proposed MDF plant expansion. GSPPL, a wholly-owned subsidiary, is engaged in the manufacturing and trading of MDF, HDF, and allied products. The funds will be used for the expansion of the MDF plant in Vadodara, Gujarat. The company also disclosed its un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board meeting commenced at 12:30 p.m. and concluded at 2:10 p.m.
