Greenply-Samet JV Eyes Rs 800 Crore Turnover by FY26

Greenply Industries, in a joint venture with Turkish firm Samet, aims for a Rs 750-800 crore turnover by FY26. This partnership will manufacture premium furniture hardware. They expect substantial growth in plywood and MDF segments and plan further expansion with new factories and product lines.

Leading plywood and laminates maker Greenply Industries, in collaboration with Turkish furniture hardware firm Samet, aims to achieve a turnover of Rs 750-800 crore by FY26. This ambitious target is tied to their equal joint venture (JV), a top company official revealed on Friday.

Greenply projects an 8-10 percent growth in its core plywood business and a 50-60 percent increase in its medium-density fiberboard (MDF) business in the current fiscal year, according to Joint Managing Director and CEO Manoj Tulsian. The company also plans to invest Rs 125 crore in a new plywood factory and venture into new adjacent products through brand extensions.

The Greenply-Samet JV has already commenced manufacturing and commercial production at its Vadodara plant in Gujarat. This strategic location will cater to the booming domestic market and explore export opportunities, leveraging Samet's presence in 80 countries. Tulsian highlighted the JV's competitive edge against Chinese players in the furniture hardware segment.

(With inputs from agencies.)