Greenply Industries Pays USD 1 Million Financial Guarantee

Greenply Industries Ltd has paid a financial guarantee amount of USD 1 Million to CITI Bank N.A., Dubai, concerning a Standby Letter of Credit (SBLC) issued by Citi Bank, N.A., India, for financial assistance to Greenwud Panel Limited (formerly Greenply Middle East Limited), Dubai. The payment was made on May 6, 2026. Due to the geopolitical situation in the Middle East, Greenwud Panel Limited's performance has fallen short of expectations, leading to an impairment provision of ₹9.48 crores by Greenply for the financial year ended March 31, 2026. The company states it has no further liability against the financial guarantee.