Are Greenply Industr latest results good or bad?

Greenply Industries has reported its financial results for the quarter ending June 2025, revealing several key trends that warrant attention. The company experienced a year-on-year growth in net sales of 2.90%, a notable decline from the previous year's growth of 22.63%. This suggests a slowdown in revenue generation compared to the prior period.
Profit Before Tax (PBT) for the quarter fell to Rs 18.58 crore, reflecting a year-on-year decrease of 33.60%. Similarly, Profit After Tax (PAT) dropped to Rs 24.94 crore, down 24.6% compared to the previous year. These figures indicate a negative trend in profitability for the company.

Additionally, Greenply Industries faced rising interest costs, with quarterly interest expenses reaching Rs 18.51 crore, which represents a significant increase of 41.08% quarter-on-quarter. This has resulted in the lowest operating profit to interest ratio in the last five quarters, recorded at just 3.33 times, highlighting challenges in managing interest obligations.

Moreover, non-operating income constituted a substantial portion of PBT, accounting for 41.48% with a quarterly figure of Rs 13.17 crore, the highest in the last five quarters. This reliance on non-operational income raises concerns about the sustainability of the company's financial model.

In light of these results, Greenply Industries has seen an adjustment in its evaluation, reflecting the challenges faced during this reporting period.