Greenpanel Industries Limited (GPIL), India’s largest wood panel manufacturer, reported a remarkable 30.5% increase in domestic MDF volumes for the second quarter of the fiscal year 2026 compared to the same period last year. The company's financial results, announced on November 10, 2025, show a strong upward trend with a quarter-on-quarter growth of 26.8%. This growth has been attributed to a renewed focus on sales and marketing strategies, including the energization of sales teams through annual conferences and enhanced engagement with distribution partners. The launch of new products such as HDWR doors and Thin MDF also contributed to this robust performance.

The operational results reflect significant improvements, with the gross margin rising to 47.7%, an increase of 70 basis points from Q1 FY26. Operating EBITDA reached 10.2% of total sales, a substantial improvement from the 4.0% recorded in the previous quarter. Greenpanel Industries has also made strides in optimizing its cost base by revisiting organizational structures and improving raw material consumption efficiencies. The company's cash conversion cycle has notably reduced to 30 days, down from 47 days as of June 30, 2025, demonstrating enhanced operational efficiency.

Financially, Greenpanel Industries has successfully reduced its net debt to ₹173 crores, a decrease of approximately ₹60 crores since the last quarter, adjusted for foreign exchange changes. The company’s credit ratings have been reaffirmed by ICRA and CARE at A+, reflecting strong financial health. As Greenpanel continues to implement its focused strategies, stakeholders can expect sustained growth and profitability in the upcoming quarters.