Sharekhan has given Buy recommendation for Greenpanel Industries with a target price of Rs. 510 in its research report issued on Dec 07, 2021

Sharekhan’s research report on Greenpanel Industries

Pan-India residential launches and sales grew strongly y-o-y and q-o-q in Q3CY2021, while inventory fell sequentially. We expect residential segment to drive MDF/plywood demand going ahead. Brownfield expansions coming on-stream in Q4FY2022 along with full capacity utilization in existing capacity would drive up volumes by 20-25% y-o-y for FY2023. Company’s Rudrapur unit is facing delays in resuming operations due to delays in imports of component, which would lead to a Rs. 4-crore loss on fixed overheads.


We retain a Buy on Greenpanel Industries Limited with an unchanged PT of Rs. 510, considering its strong earnings growth outlook and favourable valuation.

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