Sharekhan has given Buy recommendation for Greenpanel Industries with a target price of Rs. 700 in its research report issued on May 07, 2022

Sharekhan’s research report on Greenpanel Industries

Consolidated OPM positively surprised in Q4FY2022 led by pricing actions undertaken during 9MFY2022 and a favourable product mix. Operating and net profit were up 42% y-o-y and 43% y-o-y, respectively, for Q4FY2022. The management expects MDF and Plywood volumes to rise by 15-18% y-o-y and 6-8% y-o-y for FY2023 with gross and operating margins sustaining at FY2022 levels. Greenpanel would announce the next round of capacity expansion by May-June 2022 which is likely to be a brownfield one, at its Southern plant.


We retain a Buy on Greenpanel Industries Limited (Greenpanel) with a revised PT of Rs. 700, factoring in upwardly revised estimates and considering a strong earnings growth outlook.

Leave a Reply

Your email address will not be published.