Religare's research report on Greenply Industries
Medium-density fibreboard (MDF) is seeing enhanced traction owing to its affordability, carving & moulding attributes, rising awareness and acceptance among customers, and wide applications. GIL’s new range of economical-grade MDF has also enabled its use as a substitute for local plywood. The MDF division grew at 16.6% to Rs 4.8bn in FY16 and operated at 99% utilisation.
We roll over to a Sep’17 TP of Rs 290 (from Rs 270) and maintain BUY.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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