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Greenply Industries to sell assets of Greenply Industries (Myanmar)

02 Jun 2023 Evaluate

Greenply Industries has received approval for disposal and/or discardment of properties, plant & equipment and other current assets of Greenply Industries (Myanmar), a subsidiary of Greenply Alkemal (Singapore) due to difficulty in continuing its operation on account of political developments resulting in adverse business environment in Myanmar. 

Greenply Alkemal (Singapore) is a Joint venture between company’s subsidiary Greenply Holdings and Alkemal Singapore. This has resulted in share of loss from Joint venture of Rs 20.75 crore during the year. Consequently, the management has estimated and recognized an impairment loss of Rs 16.389 crore during the quarter and year ended March 31, 2023 in the books of Greenply Industries. The Board of Directors of the Company at its meeting held on May 30, 2023, has inter alia, considered and approved the same. 

Greenply Industries is primarily involved in manufacturing of plywood and trading of plywood and allied products.

Greenply Industries Share Price

233.35 -1.10 (-0.47%)
20-Apr-2026 16:59 View Price Chart
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