Greenply has started trial production of MDF at its unit at Vadodara, Gujarat. The company has set up a greenfield MDF board manufacturing unit with an 800 cubic metre per day capacity with total estimated capex spend was Rs 590 crore.
The company management is eyeing approx 40% utilization in FY24 and 60-70% in FY25 and revenue potential from this plant is Rs 600 to 700 crore with peak margins likely to reach 20%+.
The company has set up word class Siempelkamp ContiRoll press that has produced MDF and HDF with a board thickness variance ranging from 1.5 mm to 35 mm. Eucalyptus is one of the most common plantation tree species in India which is used for production of MDF/HDF board.
Approx 1800 crores Greenply Industries Ltd is one of the leading Plywood Brands in India, having manufacturing facilities in Nagaland, West Bengal, Gujarat and Gabon (Africa).
The company management is eyeing approx 40% utilization in FY24 and 60- 70% in FY25 and revenue potential from this plant is Rs 600 to 700 crore with peak margins likely to reach 20%+.