The CFO of Greenply Industries, V Venkatramani stated that they are doubling their capacity in decorative veneers with a new plant in Gujarat.

After ICICI Securities upgrade the stock to high conviction buy from hold, Greenply Industries is in focus. The CFO of the company has discussed few important things with the media.

At present, the capacity in Medium-density Fibreboard (MDF) is 1.80 lakh cubic meters according to V Venkatramani. He went on saying that soon they will be adding another 3.60 lakh cubic meters. This means that they will be tripling capacity from 1.80 lakh cubic meters to 5.40 lakh cubic meters.

He also stated that they will be doubling their capacity in decorative veneers with a new plant in Gujarat.

The company has lost some market share in plywood but it has overall improved margins there according to the Venkatramani.

Further, CFO of the comoany also mentioned that their plywood margins can move from 10.5 percent to 11.5-12 percent.

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