Greenply Industries says I-T dept ends search and seizure operations at units, promoter residence

Greenply Industries Ltd. has informed the exchanges that the Income Tax department has completed the search and seizure operations on March 2, 2026. The operations had commenced on February 26.The search and seizure operations took place at the company’s registered office and a few other locations, including a manufacturing unit of the company and a manufacturing unit of Greenply Sandila Pvt. Ltd., which is a wholly-owned subsidiary, Greenply said in its filing.

In addition to this, the I-T department also carried out search and seizure operations at the residence of the company’s promoter and a few executives.
“The company has extended its fullest co-operation with the authorities and have responded to the clarifications and details sought by them,” Greenply said.Greenply has also said in its exchange filing that the business operations of the company continue without any disruptions despite the search and seizure, adding that the financial impact of this is not quantifiable in monetary terms at this point of time.

The Search and Seizure operations were carried out under the Income Tax Act, 1961, the company stated.

Shares of Greenply Industries ended 5% lower on Monday at ₹209.71. The stock has declined in four out of the last five trading sessions.