Earlier, on 5 December 2023, the plywood maker stated that the MDF plant had been temporarily shut down due to Cyclone Michaung.
Furthermore, the company stated that the impact of the cyclone has been brought under control and normalcy has been restored. The plant has resumed its operations smoothly since 6 December night.
The estimated loss of Cyclone Michaung is approximately Rs 3.50 crore. A surveyor has been assigned, and the survey is currently in progress. The final loss amount will be determined after the survey.
Greenpanel is India's largest manufacturer of wood panels. Our state-of-the-art manufacturing plants in Uttarakhand and Andhra Pradesh make top-quality medium density fibreboard (MDF), plywood, decorative veneers, flooring and doors.
The company's consolidated net profit tumbled 43.4% to Rs 41 crore on 12.8% fall in net sales to Rs 398.73 crore in Q2 FY24 over Q2 FY23.
Shares of Greenpanel Industries shed 0.60% to Rs 339.50 on the BSE.
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