Greenply Industries Approves Independent Director Re-appointment and ₹1.5 Crore Investment in Joint Venture

Greenply Industries Approves Independent Director Re-appointment and ₹1.5 Crore Investment in Joint Venture​

Greenply Industries Limited announced key decisions following its Board of Directors meeting held on April 28, 2026. The board approved the re-appointment of an Independent Director, sanctioned a further equity subscription for a Joint Venture company, and recommended a final dividend for the financial year 2025-26. The company also noted the resignation of its Joint Managing Director and Chief Executive Officer.

In the area of corporate governance, the board approved the re-appointment of Ms. Vinita Bajoria as an Independent Director. This appointment is subject to member approval and extends for a further period of five consecutive years, effective from September 15, 2026, to September 14, 2031.

Ms. Bajoria, an MBA from ICFAI, Hyderabad, has extensive experience in strategic management, marketing, corporate operations, and human resources. Her professional history includes serving on the South Asian Advisory Board, part of the Global Advisory Board of Harvard Business School, from 2016 to 2023. She is currently on the Board of Governors. The board noted that Ms. Bajoria is not related to any current directors.

Investment and Dividend Plans​

The board also approved the further subscription of 1,50,00,000 Equity Shares of Greenply Samet Private Limited (GSPL). GSPL is a Joint Venture Company formed between Greenply Industries Limited and Samet B.V. The capital infusion will occur in one or more tranches.

According to details provided, GSPL is engaged in manufacturing and selling functional furniture hardware, including slide systems for wooden and metallic drawers, hinge systems, and lift-up systems. The funds raised through this equity share issue are intended for GSPL’s Capital Expenditure (CAPEX) and Working Capital requirements, ensuring that the entity remains a Joint Venture Company of Greenply Industries Limited and Samet B.V.

The financial health of GSPL, as noted by the board, over the last three financial years is presented below:


Furthermore, the board recommended a Final Dividend of Re. 0.50 per Equity Share, where each equity share has a face value of Re. 1/-. This dividend is slated for payment within 15 days from the conclusion of the 36th Annual General Meeting. The payment is contingent upon approval by the company's shareholders at the forthcoming Annual General Meeting scheduled for August 25, 2026. The record date for determining eligible members for this dividend payment for the financial year 2025-26 was fixed as Tuesday, August 4, 2026.

Management and Corporate Changes​

In terms of senior management, the board noted the resignation of Mr. Manoj Tulsian, who currently serves as Joint Managing Director and Chief Executive Officer. Mr. Tulsian tendered his resignation via letter dated March 14, 2026, citing personal reasons. His tenure is set to conclude with effect from the close of business hours on April 30, 2026. The company confirmed that Mr. Tulsian will remain associated with Greenply Industries Limited as an advisor.

Finally, the board approved the appointment of Mr. Dilip Kumar Sarawagi, a Practicing Company Secretary and Proprietor of M/s. DKS & Co., as the Scrutinizer for the voting process during the 36th Annual General Meeting.

GREENPLY Stock Price Movement​

Today, Greenply Industries Limited shares edged higher, closing at ₹254.59, representing a 3.55% gain. The stock traded throughout the day on 204,794 shares, signaling strong buying interest into the consumer durables sector.