GreenPly Industries increased and improved profitability in the period of January-March 2016 (FY4Q2016). According to the disclosed information, the company’s income from operation INR 45,328 lacs (around USD 67.5 million ), generating INR 6,768 lacs of EBITDA (14.9% margin). The company made INR 2.5 lacs profit from ordinary activities before tax.
Mr. Shobhan Mittal, Joint Managing Director and CEO, Greenply Industries, commented:
“We have delivered a stable performance in a sluggish economy. This has been driven by expansion of operating margins and introduction of new products at different price points to cater to consumer requirements. This is a reflection of our proven quality, strong brand portfolio and well developed distribution infrastructure. Our MDF business continues to do well and we have taken necessary steps to setup a new MDF Plant in Andhra Pradesh which will be a key growth driver going forward.
Also Read : Shobhan Mittal – Greenply – SCR
Further, reduction in working capital investments during FY 2016 was a significant achievement and we will continue to strive for better cash management in the coming quarters.”