The company has commenced trial production of the thin MDF range, with thicknesses ranging from 1.5 mm to 1.7 mm, as of today.
“The commissioning of the plant experienced delays from the initially expected timeline due to the late delivery of imported plant and machinery, caused by the ongoing geopolitical crisis,” the company said in a statement.
Greenpanel Industries is India's largest manufacturer of wood panels. Its manufacturing plants in Uttarakhand and Andhra Pradesh make medium-density fibreboard (MDF), plywood, veneers, flooring, and doors.
The company's net profit declined 69.27% to Rs 8.50 crore on a 6.80% fall in sales to Rs 359.44 crore in Q3 FY25 as compared with Q3 FY24.
The scrip fell 1.04% to end at Rs 291.25 on the BSE yesterday.