Dalal Street coverage on Shobhan Mittal Financial Year 2017

Shobhan Mittal, the CEO and joint MD of Greenply Industries Limited stated that he is expecting an eight to ten percent growth in revenues by end of financial year 2017. Shobhan Mittal has been spearheading Greenply Industries for over a long time and his company is well-known for producing plywood products that meet with the international standards.

Shobhan Mittal stated that there are lots of challenges in the plywood business but things have definitely turned out to be positive for them. Though pricing has indeed been a challenge for different markets but according to him, their combination of better product mix and capacity utilizations certainly has led to further growth. He stated that the present focus of his company remains on reducing working capital investments which in turn will affect sales volumes as well. Also, he was of the opinion that the year 2016 has remained quite flattish in terms of pricing and there has been a dip of around Rs. 2/square meter.

Bloomberg covers Shobhan Mittal Interview

Shobhan Mittal, the CEO and Joint MD of Greenply Industries Limited stated that he is expecting an eight to ten percent growth in revenues by end of financial year 2017. 

Shobhan Mittal has been spearheading Greenply Industries for over a long time and his company is well-known for producing plywood products that meet with the international standards.

Business Wire India News cover Greenply Joint MD- Shobhan Mittal

Shobhan Mittal, the CEO and Joint MD of Greenply Industries Limited stated that he is expecting an eight to ten percent growth in revenues by end of financial year 2017. Shobhan Mittal has been spearheading Greenply Industries for over a long time and his company is well-known for producing plywood products that meet with the international standards.


Shobhan Mittal stated that there are lots of challenges in the plywood business but things have definitely turned out to be positive for them. Though pricing has indeed been a challenge for different markets but according to him, their combination of better product mix and capacity utilizations certainly has led to further growth. He stated that the present focus of his company remains on reducing working capital investments which in turn will affect sales volumes as well. Also, he was of the opinion that the year 2016 has remained quite flattish in terms of pricing and there has been a dip of around Rs. 2/square meter.

During Q2 of FY 16, the capacity utilization for the plywood division of Greenply Industries Limited was recorded at 116% whereas for the medium density fireboard (MDF) it was at 109%. The growth according to him actually resulted from higher volume and higher utilizations as pricing posed quite a tough challenge, thanks to more competition and capacities. Post demonetization, the company has faced some tough challenges and had to cut down on its production rate. D. N. Sahu, Purchase Head of GIL stated that the company was forced to reduce its production by 40% as lack of cash significantly reduced purchase of luxury goods such as plywood. Also, the management expects that the demonetization move will adversely affect demands for the next two to three quarters and the company may have to deal with the issue of working capital pressure.

Biznews covers Shobhan Mittal on FY17

Shobhan Mittal, the CEO and Joint MD of Greenply Industries Limited stated that he is expecting an eight to ten percent growth in revenues by end of financial year 2017. Shobhan Mittal has been spearheading Greenply Industries for over a long time and his company is well-known for producing plywood products that meet with the international standards.

Ad Hoc News coverage over Greenply CEO

Shobhan Mittal, the CEO and joint MD of Greenply Industries Limited stated that he is expecting an eight to ten percent growth in revenues by end of FY17. Shobhan Mittal has been spearheading Greenply Industries for over a long time and his company is well-known for producing plywood products that meet with the international standards.
Shobhan Mittal stated that there are lots of challenges in the plywood business but things have definitely turned out to be positive for them. Though pricing has indeed been a challenge for different markets but according to him, their combination of better product mix and capacity utilizations certainly has led to further growth. He stated that the present focus of his company remains on reducing working capital investments which in turn will affect sales volumes as well. Also, he was of the opinion that the year 2016 has remained quite flattish in terms of pricing and there has been a dip of around Rs. 2/square meter.

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