Multibagger Alert: This smallcap plywood manufacturer has given phenomenal returns of 174.18% in a year

The company has reported revenue growth of 33.92% in Q3FY22.

Greenpanel Industries Limited is engaged in the manufacturing of plywood and allied products. The company has given investors stellar returns of 174.18% over the last year. The share price of the company stood at Rs 174.5 on March 4, 2021, and since then, it has increased investor wealth by more than two times. Recently the company has reported strong Q3 numbers.

Q3FY22 Snapshot

In Q3FY22, revenue grew by 33.92% YoY to Rs 424.42 crore from Rs 316.93 crore in Q3FY21. On a sequential basis, the top-line was up by 0.52%. PBIDT (Ex OI) was reported at Rs 111.1 crore, up by 62.42% as compared to the year-ago period and the corresponding margin was reported at 26.18%, expanding by 460 basis points YoY. PAT was reported at Rs 63.08 crore, up by 107.14% from Rs 30.45 crore in the same quarter for the previous fiscal year. The PAT margin stood at 14.86% in Q3FY22 expanding from 9.61% in Q3FY21.

About Company

Greenpanel Industries Limited produces and distributes wood products. The Company offers wood floors, medium density fibreboard, plywood, veneer, flooring and doors. The company’s manufacturing plants have a combined annual capacity of more than 540,000 cubic meters of MDF. This is complemented by our robust distribution network of 3,000-plus outlets spread across the country. The company MDF is made with 100% renewable agro-forestry wood.

Recently, the company has announced that the manufacturing operations at the company's MDF plant at Chittoor, Andhra Pradesh, which was temporarily closed w.e.f. January 17, 2022, has resumed on January 29, 2022, after installation of the Mat Heating System.

At 11:32 am on Friday, the stock of Greenpanel Industries Limited was seen trading at Rs 479.95, down by 0.57% or Rs 2.75 per share. The 52-week high of the scrip is recorded at Rs 537.55 and the 52-week low at Rs 150.3 on the BSE.