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Greenpanel: MDF sales again increase significantly

18.02.2021 − 

In the third quarter of the 2020/2021 financial year (31 March), Greenpanel Industries sold a total volume of 123,723m³ MDF. The figure of the preceding year was exceeded by 43.2%. Following the corona-related declines at the beginning of the financial year, deliveries had already risen considerably in the preceding quarter (+31.3% to 82,133m³). Due to the increased deliveries, overall capacity utilisation of the two MDF plants in Routhu Suramala (Andhra Pradesh) and Pantnagar (Uttarakhand) improved significantly to 93%. The plants have been running close to the limits of their capacity for the first time during the current period. In the preceding quarter they had each achieved capacity utilisation of around 60%. This had also been the case in the preceding financial year.

With average prices up by 4.4%, turnover of the MDF business division rose by 49.6% to INR2.496bn - equivalent to approximately US$34.1m. In addition to higher capacity utilisation at the plants, cost saving measures also contributed to the results improvements. According to Greenpanel, the business division’s EBITDA margin increased by 7.3 percentage points to 24.5%, and the EBIT margin by 10.3 percentage points to 18.6%.

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