Shares of Greenply Industries will remain in focus on Wednesday, March 4, after the company said that the Income Tax (I-T) department has conducted search and seizure operations at its premises.
Greenply Industries share price ended Monday’s session 5% lower at ₹209.85 apiece on BSE amid a broader weakness in the Indian stock market, during which the benchmark closed over 1% lower.
Greenply Industries I-T search details
In an exchange filing on Tuesday, Greenply said that the search and seizure operations, which began on February 26, were conducted at the company’s registered office and several other premises, including its manufacturing unit and that of Greenply Sandila Pvt. Ltd., a wholly owned subsidiary. The search and seizure concluded in the late evening on March 2, 2026.
Additionally, the Income Tax department carried out similar search and seizure actions at the residence of the company’s promoter and certain executives.
“The company has extended its fullest co-operation with the authorities and has responded to the clarifications and details sought by them,” it said in an exchange filing shared in the early hours on Tuesday.
Greenply Industries said in the filing that its business operations remain unaffected despite the search and seizure action, adding that the financial impact cannot be quantified in monetary terms at this stage.
Greenply Industries Q3 results 2026 highlights
During the December quarter, Greenply Industries delivered a mixed performance as the topline expanded despite a decline in the bottom line. The company saw healthy volume growth and margin improvement across its key businesses.
The company reported a net profit of ₹14.3 crore for the quarter ended December 31, down 41% compared with ₹24.4 crore posted in the same period last year. On a consolidated basis, revenue increased by 9.6% year-on-year to ₹673.4 crore in Q3 FY26.
Core EBITDA stood at ₹58.9 crore, while margins expanded to 8.7% from 8.2% in the preceding quarter, marking a sequential improvement of 50 basis points.
Greenply Industries share price trend
The interior infrastructure company’s stock has remained under pressure in the near term. Greenply Industries’ share price has shed 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.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
