ICICI Direct's research report on Greenply Industries
Greenply Industries (GIL) is one of the leading players in the plywood business in India. It has a distribution network of 2,300+dealers/authorised stockists pan-India. It is foraying into the MDF boards business with greenfield manufacturing set-up at Vadodara, Gujarat of 800 CBM/day (capex of ~Rs 555 crore) with revenue potential of ~Rs 600-650 crore per annum at its peak utilisation
Outlook
We maintain our HOLD rating on the company We value GIL at Rs 250/share (at 24x FY23E P/E)
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