Expect volume growth at 15-18% in FY23: Greenpanel Industries

Greenpanel Industries, a manufacturer of wood panels, is in focus as the stock is up 13 percent in the month of March so far. To discuss their demand trends and business outlook CNBC-TV18 spoke to V Venkatramani, CFO of the company.

On volume growth, Venkatramani said, “We should be in the range of 15 to 18 percent for FY23 as compared to FY22 for MDF (medium density fiberboard) segment. We will have lower growth on the plywood segment where the range is expected to be between 6 and 8 percent.”

On price hike, he said, “We are comfortable with the raw material prices right now. Both our gross margins and operating margins are protected at this point of time with the current selling prices. In Q3, we took our 17 percent price at different points of time so some of the benefits of that price hike will be percolating into the current quarter. I think currently we are comfortable with the selling prices as well as the raw material prices.”