Expects Eight To Ten Percent Growth By Shobhan Mittal

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Greenply Industries
Shobhan Mittal, Joint MD and CEO of Greenply
Industries, expects eight to ten percent growth
in 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.
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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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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 ..
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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. Shobhan Mittal is
constantly in search of innovative ways to take
his business forward and he played a pivotal role
behind the demerger of Greenply decorative
business from its core business which is usually
centered on wood products. In the year 2015, he
was instrumental behind the formation of the
Greenply Green Strategy Group.
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Plywood Products
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The primary focus of this group is to direct
green efforts and raise environmental awareness
within the company. Because of their strong focus
on customer loyalty, best business practices,
well being as well as security accreditations,
Greenply Industries Limited has been able to grab
different certifications like ISO-14001,
ISO-9001, OHSAS 180001 as well as international
quality standards such as BS and NEMA of the
United Kingdom.
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Presently based in Singapore, Shobhan Mittal also
serves as a member of the United Nations advisory
committee on Sustainable Forest Industries. He is
also a part of AIPM (Association of Indian Panel
Manufacturers). With constant focus to uplift the
Indian economy, Shobhan Mittal has planned to
triple the capacity at their MDF plant by the
start of 3rd quarter 2019. The company presently
exports its products to more than 15 countries
worldwide and aspires to further explore the
opportunities available overseas. By acquiring
Greenlam Asia Pacific Private Ltd as a fully
owned subsidiary, GIL is also spreading their
influence in the markets of south-east Asia.
Greenlam America was also acquired by GIL as its
wholly owned subsidiary for marketing and
distribution of their laminates in North America.
With opportunities available in the African
market as well, Greenply Industries is all set to
open a manufacturing unit of lumber, panel and
veneer products at Gabon SEZ, West Africa. For
this purpose, the company is in search of a
subsidiary in Dubai to control and manage the new
business. It is also being speculated that
Greenply Industries Limited will introduce five
hundred new merchants over the coming two years
to shape different organizations. This will in
turn add to the already existing huge number of
retailers and organizations with which GIL is
associated. Source http//www.thehindubusinessli
ne.com/business-wire/shobhan-mittal-joint-md-and-c
eo-of-greenply-industries-expects-eight-to-ten-per
cent-growth-in-financial-year-2017/article9501310.
ece
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Thankyou
For more information visit at
https//shobhanmittal.wordpress.com/
https//www.behance.net/ShobhanMittal