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earnings | IST

Greenpanel upgrading facilities to enhance capacity, targets Rs 1500 crore revenue in FY22

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Greenpanel Industries is targeting revenues of Rs 1,500 crore in FY22, V Venkatramani, chief financial officer (CFO), told CNBC-TV18.

Greenpanel Industries is targeting revenues of Rs 1,500 crore in FY22, V Venkatramani, chief financial officer (CFO), told CNBC-TV18 on Wednesday.
His remark came after the company reported its best-ever earnings for the September 30 ended quarter in absolute terms. Year-on-year (YoY) numbers were also driven by a low base.
“We did Rs 1,000 crore revenue last year. So, we are targeting around Rs 1,500 crore in the current year,” Venkatramani said.
Speaking about growth, he said, the market looks good over a period of next two to three years. “Real estate is coming out of a slowdown that we have witnessed for the past 4-5 years and that’s the largest market for our products. Therefore, medium-term looks good as far as business is concerned,” he said.
Venkatramani said realisations will also improve because the firm took another price increase in October, which was driven by a surge in raw material costs. Meanwhile, export realisations are improving further. “So, we should see improvement in both domestic and export realisation from Q3 onwards,” he said.
The company is in the process of upgrading facilities to enhance the capacity, he said.
For the entire management interview, watch the video