Greenply Industries Faces Scrutiny from Income Tax Department on Wednesday

Greenply Industries Share Price in Focus Amid I-T Department Search

Greenply Industries (BSE: ₹209.85, down 5% on Monday) will remain under the spotlight on Wednesday, March 4, following the Income Tax (I-T) department's search and seizure operations at its premises.

Search and Seizure Operations The I-T department conducted search and seizure operations at Greenply Industries' registered office and several other premises, including its manufacturing unit and that of its wholly-owned subsidiary, Greenply Sandila Pvt. Ltd., from February 26 to March 2, 2026. The search and seizure actions also extended to the residence of the company's promoter and certain executives.

Business Operations Unaffected Greenply Industries has assured that its business operations remain unaffected despite the search and seizure action. However, the financial impact of the operation cannot be quantified in monetary terms at this stage.

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Q3 Results 2026 Highlights During the December quarter, Greenply Industries reported a net profit of ₹14.3 crore, down 41% year-over-year. Consolidated revenue increased by 9.6% year-on-year to ₹673.4 crore in Q3 FY26. Core EBITDA stood at ₹58.9 crore, with margins expanding to 8.7% from 8.2% in the preceding quarter.

Share Price Trend Greenply Industries' share price has been under pressure in the near term, shedding 6% in the past five sessions and 11% in a month. On a longer time frame, the small-cap stock has delivered negative returns of 31.40% in six months and 22% on a year-to-date (YTD) basis.