Q3 2026 Greenpanel Industries Ltd Earnings Call Transcript
Key Points
- Domestic MDF volumes grew by 19% year on year, contributing to a total MDF volume growth of 17.1% for the quarter.
- Total revenues for the quarter increased by 11.4% year on year to INR398.8 crores.
- Gross margins and operating EBITDA margins improved both year on year and sequentially, aided by cost optimization efforts.
- The company maintained a strong cash conversion cycle at 32 days despite increased inventories.
- Net debt was reduced by INR40 crores during the nine months, indicating effective debt management.
- Domestic realization was lower by 1.4% sequentially due to discounting pressures post-Diwali.
- Plywood business has not yet revived meaningfully, with plans to scale up still in development.
- Timber costs were volatile due to severe winter conditions and heavy rainfall, impacting cost stability.
- The company faced a noncash FX impact of INR43 crores on euro-denominated borrowings, affecting profitability.
- Operating EBITDA margins were impacted by higher fuel and power costs due to seasonal spikes.
Ladies and gentlemen, good day, and welcome to the Greenpanel Industries Limited Q3 and 9M FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I will now hand the conference over to Mr. Rishab Barar from CDR India for opening remarks. Thank you, and over to you, Rishab.
Good day, everyone, and thank you for joining us on the Greenpanel Industries Limited Q3 and nine months FY26 earnings conference call. We have with us today Mr. Shobhan Mittal, Managing Director; and Mr. Himanshu Jindal, CFO.
Before we begin, I would like to share some statements made in today's discussion and may be forward-looking in nature and may involve risks and uncertainties. A detailed statement in this regard is available in the results presentation, which was shared with you earlier.
I would now like to invite Mr. Shobhan Mittal to begin the proceedings of the call. Over to you, sir. Thank you.
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