Greenply Industries Ltd. is targeting a 6–7% share of the furniture hardware market with its upcoming manufacturing facility in Vadodara, Gujarat, according to Joint Managing Director and CEO Manoj Tulsian. The new plant, a Rs 250-crore joint venture with Turkey’s Samet BV, is expected to significantly boost Greenply’s presence in the organized furniture hardware sector. Tulsian highlighted that the facility could help the company’s hardware business grow to Rs 400–500 crore over the next four to five years.
“The current market size is around $2 billion, with 20% organized and 80% unorganized. Our focus is on the organized market and a portion of the unorganized sector. With this joint venture, which involves a total investment of Rs 250 crore across three phases, we expect to reach a production capacity of Rs 750–800 crore once fully operational,” Tulsian explained.
The Vadodara unit will manufacture functional furniture hardware, including slide systems for drawers, hinge systems, lift-up mechanisms, and various connection fittings. The first phase of the facility is nearing completion, with some machines expected to arrive soon, allowing the plant to become operational in the near future.
“We began setting up the Vadodara facility in October last year. The first phase is almost ready, with trial runs conducted in March. We anticipate the facility to be fully operational soon,” Tulsian added. Revenue generation from this new venture is expected to begin in the second half of the current fiscal year. Initially, the company will import products from Turkey until the subsequent phases of the Vadodara plant are completed, after which domestic production will replace imports.
So far, Greenply has invested Rs 150–160 crore out of the total Rs 250 crore earmarked for the project. The remaining investment will be deployed as the second and third phases progress, with the entire civil architecture already designed to accommodate the future expansion. Greenply Industries Ltd. is a leading name in India’s interior infrastructure industry, known for its high-quality plywood, blockboards, and other wood-based products.
With a strong focus on innovation and sustainability, Greenply has established itself as a key player in the market, offering a diverse range of products that cater to both residential and commercial needs. The company is also expanding its presence in the furniture hardware sector, aiming to capture a significant market share through strategic investments and joint ventures. Greenply’s commitment to quality and customer satisfaction has made it a trusted brand in the industry.
