Greenply Industries Limited's Board of Directors, in a meeting held on February 4, 2026, approved a significant capacity expansion for its wholly-owned subsidiary, Greenply Speciality Panels Pvt. Ltd. (GSPPL). The MDF plant located in Vadodara, Gujarat, will see an investment of up to ₹125 crores in one or more tranches to expand its manufacturing capacity. This expansion aims to increase in-house capacity to meet growing demand for MDF products. The subsidiary, GSPPL, is engaged in manufacturing and trading Medium Density Fibreboard (MDF) and High Density Fibreboard (HDF). The company also approved the termination of a Joint Venture (JV) agreement dated January 30, 2014, with Alkemal Singapore Pte. Ltd. Greenply Holdings Pte. Ltd., a wholly-owned subsidiary of Greenply Industries, will acquire the 50% shares held by the existing JV partner, Kulmeet Singh, in Greenply Alkema I (Singapore) Pte. Ltd. for a consideration of USD 1. The proposed capacity addition at the MDF plant is expected to be between 600-700 CBM per day, with the addition anticipated by Q2 FY 2028. The total investment required for this expansion is approximately ₹425 crores, which will be financed through a mix of borrowings, equity, quasi-equity, and internal accruals. The board meeting commenced at 12:30 p.m. and concluded at 2:10 p.m.
