In Q2 2024, Greenpanel Industries Limited reported a total revenue of ₹3,987.3 million, reflecting a decrease of 15.51% year-over-year and 7.69% quarter-over-quarter. The company faced significant pressure on margins, with gross profit tumbling by nearly 50% compared to the previous year. Net income fell 54.87% year-over-year but showed a recovery from Q1 2024 results, signaling some resilience in current operations. The management highlighted challenges stemming from increased cost pressures and a competitive pricing environment but expressed optimism about recovery in demand as infrastructure projects accelerate.
The balance sheet remains relatively healthy, supported by a current ratio of 3.13, ensuring liquidity for operational needs. Management reiterated its commitment to operational efficiency, which should positively impact long-term margins. As Greenpanel navigates through these challenges, investors should closely monitor key metrics related to demand recovery and cost management initiatives.