India's Greenpanel Industries drops on slide in Q4 earnings

Greenpanel Industries

08/05/2023 06:43

** Greenpanel Industries Ltd's shares  GREP.NS  fall 3.8% to
298.10 rupees, dropping below their 100-day simple moving avg
    ** The wood panels maker reports 14% YoY fall in Q4 net
profit, with rev down 6%; core profit slid 45%
    ** Co says high export volumes with price cuts, steep rise
in raw material costs, higher brand spends hit profit
    ** The avg rating of the 12 analysts tracking GREP is "buy",
with a median TP of 459 rupees -Refinitiv data
    ** Stock now down 11.5% YTD, following a 19.6% drop in 2022

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))