Plywood maker Greenply Industries is aiming to touch turnover of Rs 2,400 crore in the next two years on the back of consolidation of its existing business. In this regard, the company will enhance operational efficiencies, including full utilization of its installed capacity in the next two years. The firm is looking to enhance its domestic business, while also increasing exports as a part of plans to achieve its revenue target.
Earlier, the company has spent Rs 375 crore for capacity expansion at its various manufacturing facilities in FY10. It has a total of seven plants across India producing plywood, laminates and MDF boards.
In FY11, the capacity utilization of the Nalagarh plant stood at 84%, while that of its Rudrapur plant in Uttarakhand stood at 53.90% in the first quarter of FY12. As a part of its growth plans, the company is looking to end the current fiscal at around Rs 1,750 crore.
The company’s net profit rose by 24.73% to Rs 12.96 crore for the quarter ended June 30, 2011, against Rs 10.39 crore in the same period last fiscal. The firm’s net sales stood at Rs 352.32 crore for the quarter ended June 30, 2011, compared to Rs 262.07 crore in the same period last fiscal.
Greenply Industries is engaged in manufacturing of plywood, laminates, decorative veneers, particle boards and prelam particle boards/MDF. The company has 28 branches across India with a strong dealer/distributor/sub-dealer/retailer network of over 9600 and a presence in over 300 cities.