Analysts/Institutional Investor Meet/Con. Call Updates

Greenply/2026-27 November 03, 2026 The Manager The Manager BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Floor 25, P. J. Towers, Dalal Street Bandra (E) Mumb-a 4i00 001 Mumb-a 4i00 051 Scrip Code: 526797 Symbol - GREENPLY Dear Sir/ Madam, Sub: Conference Call Transcript Please find enclosed Conference Call Transcript in respect of conference call for Investors and Analysts held on October 30, 2026 on the financial results of Greenply Industries Limited for the quarter ended 30th September, 2026. The same is also available on the website of the Company viz. www.greenply.com/investors Thanking you, Yours faithfully, For GREENPLY INDUSTRIES LIMITED KAUSHAL KUMAR AGARWAL COMPANY SECRETARY & VICE PRESIDENT-LEGAL Encl.: As above Greenply Industries Limited ‘Madgul Lounge', Sth & 6th Floor, 23 Chetla Central Road, Kolkata - 700027, West Bengal, India T:+91 33 24500400, 30515000 | E : kaushal.agarwal@greenply.com | www.greenply.com | CIN : L20211WB1990PLC268743 Registered Office :'Madgul Lounge', 6th Floor, 23 Chetla Central Road, Chetla, Kolkata - 700027, West Bengal, India “Greenply Industries Limited Q2 FY27 Earnings Conference Call” October 30, 2026 MANAGEMENT: MR. SANIDHYA MITTAL – JOINT MANAGING DIRECTOR – GREENPLY INDUSTRIES LIMITED MR. SANJIV KESHRI – CHIEF FINANCIAL OFFICER – GREENPLY INDUSTRIES LIMITED MODERATOR: MR. KARAN BHATELIA – ASIAN MARKET SECURITIES PRIVATE LIMITED Page 1 of 17 Greenply Industries Limited October 30, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q2 FY27 Earnings Call of Greenply Industries hosted by Asian Market Securities Private Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Karan Bhatelia from Asian Market Securities Private Limited. Thank you and over to you. Karan Bhatelia: Thank you, Naziya. Welcome to the 2Q FY27 Investor Call of Greenply Industries. From the management side, we have Mr. Sanidhya Mittal, JMD; Sanjiv sir, CFO. I now hand over the call to Sanidhya for his opening remarks, post which we will open the floor for Q&A. Thank you and over to you, sir. Sanidhya Mittal: Thank you, Karan, and good morning everyone. It is a pleasure to welcome you all to Greenply Industries Limited earning conference call to discuss our financial and operating performance for Q2 H1 FY27. During the first half of the year, we continued to strengthen our portfolio to enhance customer engagement through technology-led -- focused brand building initiatives. In our premium -- hello? Are we audible? Moderator: Yes, sir, audible. Please go ahead. Sanidhya Mittal: In our premium Plywood portfolio, we introduced TermiVax, a patented nanotechnology-based anti-termite solution designed to provide and enhance long-lasting protection against termite attacks, addressing a key concern for consumers across the country. We've also strengthened Greenply Gold's value proposition through introduction of the 11-year fully covered plus plan, which complements its 30-year-old product warranty by providing specific restoration and related cost coverage to bring in customer trust and customer delight. Our product innovations and performance showcased in MATECIA 2026 across our product categories was highly appreciated by all. Through targeted engagement with architects, designers, dealers, and other key stakeholders supported by interactive product demonstration, we focused on strengthening brand visibility, driving product awareness, and reinforcing our product positioning in the value-added and premium product segment. These initiatives are aimed at supporting customer preferences, improving product mix and driving sustainable product profitable growth. The above initiatives, coupled with our continued focus on product innovation and targeted efforts across product categories and customer segments, have started yielding encouraging results. Initial feedback from dealers, architects on our premium product offering and innovation has also been encouraging. The positive response is translating into healthy value growth and reinforces our confidence in the premium strategy. Going forward, we believe sustained momentum in the premium category, supported by continued product innovation and a strong product mix, will contribute to margin expansion and enhance overall profitability. Page 2 of 17 Greenply Industries Limited October 30, 2026 Furthermore, given the healthy growth momentum in the plywood segment and our objectives of meeting the incremental demand through our own manufacturing capabilities We are pleased to announce the expansion of our plywood manufacturing capacity at our existing Sandila, Lucknow location. The proposed new capacity will be 15 million square meters with a budgeted capex of INR125 crores, which will be funded through mix of debt and equity and is expected to commence commercial production in Q4 FY28. The facility will have a revenue potential of INR320 crores to INR340 crores at full capacity utilization. The expansion will strengthen our ability to serve the growing market while supporting our long- term growth plans. With this expansion, our total plywood capacity starting Q4 FY28 will be 81.3 million MSM. Moving on to our ESG and sustainability initiatives. I am proud to highlight a major milestone in our Green journey. Greenply has undertaken one of India's largest private sector afforestation programs, a framework, a verified carbon standard, VCS-validated grouped project titled Agroforestry Plantations in the Country by Greenply. We have successfully rolled out the first phase across Gujarat and Nagaland, covering an area of over 2,300 hectares and transforming degraded shrublands and low-productivity agricultural plots into thriving agroforestry ecosystems. This initiative is deeply collaborative. We have already benefited over 505 local farmers through sapling distribution, hands-on training, technical support to boost their long-term profitability. Furthermore, participating farmers will directly benefit from a share of the revenue generated from the sale of carbon credits. I am also thrilled to share that a total of 2,56,688 carbon credits have officially been allotted to Greenply under this program. Looking ahead, we are fully committed to moving into the second stage of the project, which will expand our footprint to massive 12,000 hectares across both Gujarat and Nagaland. This framework underscores our commitment to blending strong environmental stewardship with robust socioeconomic value for our grassroots communities, paving the way of sustainable long-term growth. Now, I would like to update you on Greenply Q2 and H1 FY27 financial and operating performance. Consolidated revenue for Q2 FY27 stood at INR799.7 crores, registering 16.1% year-on-year increase. Our consolidated core EBITDA stood at INR89.2 crores with a core EBITDA margin of 11.2%, representing an expansion of 300 basis points Y-o-Y growth. On a half-year basis, consolidated revenue stood at INR1,524.6 crores, registering an 18.2% Y- o-Y increase.Our consolidated core EBITDA was INR167.5 crores with a core EBITDA margin of 11%, representing an expansion of 180 basis points Y-o-Y growth. Let me now share the highlights of our individual business segments. In our Plywood segment, we have achieved a volume growth of 6.1% on Y-o-Y basis in Q2 FY27 with a revenue of INR625.7 crores, a value growth of 15.5% on a Y-o-Y basis. The realisation stood at INR264 per square meter due to better sales of premium products. On the Page 3 of 17 Greenply Industries Limited October 30, 2026 margin front, our core EBITDA margin stood at 10.05% for Q2 FY27, a growth of 180 basis po [Showing first 8,000 characters — download PDF for full document]