We are targeting 12-15% growth in plywood, said V Venkatramani, Chief Financial Officer, Greenply Industries.
Speaking to CNBC-TV18's Ekta Batra and Prashant Nair, he said, "Our value growth was lower but as far as the volume growth, we had about 5% volume growth in plywood in last quarter."
"We are targeting 45% capacity utilisation at the new medium-density fiberboard (MDF) plant," said Venkatramani.
“We will be operating for about 9-10 months this year. We have a number of expansions in MDF during the current year. That is why we are targeting a lower capacity utilisation in the current year and going forward, we would be targeting about 65% capacity utilisation in FY20 and 85% capacity utilisation in FY21,” he further mentioned.
Greenply Industries reported a weak set of numbers as the profit after tax saw a decline of 23%, whereas the plywood segment earnings before interest, taxes, depreciation, and amortization (EBDITA) was 22% lower year-on-year.