The Board of Greenpanel Industries, through resolution by circulation on 29 November 2022, approved the winding up of the Company's wholly owned subsidiary (WOS) namely, Greenpanel Singapore Pte. Ltd. pursuant to the rules and regulations of its host country. The Board also approved write off the investment in the WOS to the extent of impairment of the asset due to accumulated losses of the WOS.

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The company's board also approved to write off the investment in the subsidiary to the extent of impairment of the asset due to accumulated losses of Greenpanel Singapore Pte.

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.

On a consolidated basis, net profit of Greenpanel Industries rose 8.05% to Rs 72.46 crore on 8.31% rise in net sales to Rs 457.29 crore in Q2 September 2022 over Q2 September 2021.

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Shares of Greenpanel Industries have fallen 10.31% in seven straight sessions.

The stock hit a 52-week low of Rs 342.75 in intraday today, 18 November 2022. It has slumped 45.10% from its record high of Rs 625 hit on 29 April 2022.

On the BSE, 15,560 shares were traded in the counter so far compared with average daily volumes of 40,874 shares in the past two weeks.

The stock had underperformed the market over the past one month, falling 5.22% compared with 5.72% fall in the Sensex.

The scrip underperformed the market in past one quarter, sliding 19.83% as against Sensex's 2.47% drop.

The scrip had also underperformed the market in past one year, falling 4.84% as against Sensex's 2.90% correction.

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.

On a consolidated basis, net profit of Greenpanel Industries rose 8.05% to Rs 72.46 crore on 8.31% rise in net sales to Rs 457.29 crore in Q2 September 2022 over Q2 September 2021.

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Net profit of Greenpanel Industries rose 8.05% to Rs 72.46 crore in the quarter ended September 2022 as against Rs 67.06 crore during the previous quarter ended September 2021. Sales rose 8.31% to Rs 457.29 crore in the quarter ended September 2022 as against Rs 422.22 crore during the previous quarter ended September 2021.

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