Greenply Industries Limited has released the transcript of its conference call for investors and analysts held on February 5, 2026. The call focused on the company's financial results for the quarter and nine months ended December 31, 2025. During the call, management highlighted a consolidated quarterly revenue of ₹673.4 crore, representing a 9.6% year-on-year growth. The consolidated core EBITDA for the quarter stood at ₹58.9 crore, with a margin of 8.7%, an increase of 50 basis points from the previous year. For the nine-month period, consolidated revenue reached ₹1,962.8 crore (up 6.7% YoY), and consolidated core EBITDA was ₹177.3 crore (up 4.5% YoY), with a margin of 9%. The plywood segment reported a volume growth of 12.5% YoY in Q3 FY26, with revenue of ₹521.7 crore (up 8.9% YoY). The MDF business achieved revenue of ₹152 crore in Q3 FY26, with an 11.7% YoY growth in value and 14.5% in volume. The company also announced a board approval for an investment of ₹400 crore towards the expansion of a second MDF line, which is expected to be commissioned in 15 months and commence commercial operations in 18 months (Q2 FY28). Management expressed confidence in sustaining growth momentum, noting that operational challenges in the MDF business have been addressed, with January production being the highest ever. The company also confirmed that construction of the plywood facility in Odisha is on track and expected to be commissioned by Q4 FY27. The net debt is expected to be within the guided range of 0.5 to 0.6x by year-end, despite new capex plans.
