Global stock markets are facing high fluctuations in the past few years due to events like wars, supply chain disruptions, diplomatic hurdles, natural calamities, etc. In such scenarios, investments backed by thorough analysis and fundamentals can provide an edge. Moreover, exploring unique sectors can help diversify risk and returns for a portfolio.
This blog explores the top investment opportunities in one such sector – Woods and its products. The industry is expected to grow at 3.45% CAGR between FY 2025-29. Output in this industry is expected to reach US$5.24 billion in FY 2025.
Investors can become a part of this growth by exploring these top 10 wood and wood products stocks in India.
Also, explore: Plywood industry in India: Trends, growth, and future outlook
Top 10 wood and wood products stocks in India
The following list categorises the top wood stocks as per their market capitalisation as of April 16, 2025.
| Particulars | Market Capitalisation (in ₹ crores) | Price-to-Earning ratio (in times) | Return on Equity |
| Century Plyboard Ltd. | 16,060.90 | 73.94 | 15.76 |
| Greenply Industries Ltd. | 3,625.08 | 34.91 | 8.44 |
| Greenpanel Industries Ltd. | 2,922.82 | 40.26 | 10.69 |
| Rushil Decor Ltd. | 671.14 | 15.92 | 9.51 |
| Duroply Industries Ltd. | 194.20 | 50.97 | 0.94 |
| Archidply Industries Ltd. | 175.97 | 0.00 | 6.59 |
| Western India Plywoods Ltd. | 135.63 | 69.91 | 8.00 |
| Omfurn India Ltd. | 124.63 | 30.18 | 9.35 |
| Priti International Ltd. | 124.48 | 23.65 | 16.94 |
| Ecoboard Industries Ltd. | 60.24 | 0.00 | (28.61) |
Let’s dive deeper into the financial and fundamental dynamics of these stocks in detail.
The company operates mainly in the interior infrastructure business. It has a strong network across the nation with 3924 trade partners. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 3,885.95 | 3,646.56 | 6.56 |
| Net Profit Margin | 8.43% | 9.88% | (14.67) |
| Debt-to-Equity (in times) | 0.17 | 0.14 | 21.42 |
As of April 16, 2025, this plywood stock was trading at ₹75.10 after growing by 14.4% in a year’s time. However, its Earnings Per Share (EPS) has been volatile in recent years.
- Greenply Industries Ltd.
With a plywood manufacturing capacity of 528 lakh square meters, the company is a known brand in Indian households. It was incorporated in the 1990s. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 2,179.92 | 1,663.14 | 31.07 |
| Net Profit Margin | 3.9% | 6.4% | (39.06) |
| Debt-to-Equity (in times) | 0.04 | (0.01) | – |
Despite market pressure, the share price of Greenply has surged by 9.5% in a year as of April 16, 2025. However, its EPS is in a declining trend.
- Greenpanel Industries Ltd.
In the short span of 15 years, the company has managed to grab the top position in India’s wood panel manufacturing business. It exports to 11 countries and has a network of 2,300 distributors in the country. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 1,567.25 | 1,782.85 | (12.09) |
| Net Profit Margin | 9.12% | 14.42% | (36.75) |
| Debt-to-Equity (in times) | (0.02) | 0.16 | – |
Along with financials, share price of this company has dived by nearly 26% in a year’s timeframe as of April 16, 2025. The EPS has also been unstable in recent years.
- Rushil Decor Ltd.
Established in 1993, the company has footprints in more than 56 companies. Its expertise lies in the production of decorative laminate. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 843.96 | 838.39 | 0.66 |
| Net Profit Margin | 5.11% | 9.25% | (44.75) |
| Debt-to-Equity (in times) | 0.52 | 1.10 | (52.72) |
The decrease in debt to equity indicates a potential decrease in debt levels or an increase in equity. In a year, the company’s share price has fallen by more than 23% as of April 16, 2025. However, its P/E ratio is less than the industry median of 48.9, which may attract investors.
- Duroply Industries Ltd.
The company mainly manufactures decorative veneers, doors and plywood ranges in the interior infrastructure segment. Established in 1957, the company owns 450+ innovative designs. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 323.42 | 302.33 | 6.97 |
| Net Profit Margin | 0.33% | 1.72% | (80.81) |
| Debt-to-Equity (in times) | 0.32 | 0.43 | (27.90) |
This plywood stock has declined by 35% in a year as of April 16, 2025. Its EPS has recently turned profitable from FY 2023, which can attract investors.
- Archidply Industries Ltd.
When it was established in 1976, the company operated in the tea chests and timbers. Later, it expanded to plywood, laminates and MDF. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 435.67 | 421.75 | 3.30 |
| Net Profit Margin | 1.67% | 2.95% | (43.38) |
| Debt-to-Equity (in times) | 0.63 | 0.80 | (21.25) |
As of April 16, 2025, this stock has fallen by nearly 23% in a year’s timeframe. Moreover, its EPS has also been in a declining trend.
- Western India Plywoods Ltd.
The company manufactures plywood, decorative flooring, hardboards and softboards. With an experience of more than 75 years, the major revenue of this company is earned from exports. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 109.04 | 107.86 | 18.00 |
| Net Profit Margin | 3.50% | 3.87% | (9.56) |
| Debt-to-Equity (in times) | 0.37 | 0.41 | (9.75) |
Due to pressure in global stock markets, the company’s stock dipped by 5% in a year as of April 16, 2025. Moreover, its P/E ratio is also higher than the industry median, which may discourage investors.
- Omfurn India Ltd.
Specifically in the interior infrastructure, the company is engaged in the production of doors, modular kitchen, vanity and premium furniture. It has a strong client base like Godrej Properties, Tata Housing, DLF, Hyatt, etc. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 80.28 | 70.23 | 14.31 |
| Net Profit Margin | 4.65% | 5.56% | (17.96) |
| Debt-to-Equity (in times) | 0.29 | 0.44 | (33.74) |
It is one of the wood products stocks in this list that has recorded positive growth in the share price over the past 1 year. As of April 16, 2025, it has surged by 41.3% in a year’s timeframe. However, the EPS has declined to ₹3.11 in FY 2024.
- Priti International Ltd.
This young entity is a local furniture manufacturer that customises according to the residential and commercial spaces. It has mainly two segments: wooden and iron handicrafts and textile handicraft. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 90.32 | 82.85 | 9.01 |
| Net Profit Margin | 10.59% | 8.59% | 23.38 |
| Debt-to-Equity (in times) | – | – | – |
Despite strong financials, the share price of Priti International massively dipped by 44% in a year as of April 16, 2025. However, its EPS has been in the increasing trend.
- Ecoboard Industries Ltd.
As the name suggests, the company is mainly engaged in the production of particle boards from agricultural waste or residue. They manufacture internal walls, ceilings, cold rooms, shelves, etc. Check out the fundamental performances here:
| Particulars | FY 2024 | FY 2023 | Change (%) |
| Revenue (in ₹ crores) | 29.75 | 38.59 | (22.90) |
| Net Profit Margin | (0.24) | (0.08) | (200) |
| Debt-to-Equity (in times) | 1.16 | 1.22 | (4.91) |
The company has been incurring losses for the past few years due to manufacturing and operational hurdles. However, the share price of this company has managed to surge by 6% in a year as of April 16, 2025.
Dive deeper! Product Portfolio and Its Relevance for Financial Analysis
Bottomline
Investing in unique sectors demands thorough analysis, risk management and informed investment logic. Investors can determine their investment goals, risk profiles and existing portfolio exposure to make diversification decisions.
This list of top 10 wood stocks may also provide potential investment opportunities for investors.
Must read: Stock Market Investing: A Step-by-Step Guide for Beginners
FAQs
- What is a good P/E ratio?
An ideal or good P/E ratio may differ based on the industry or products. Usually, the lower P/E ratio compared to the industry average or median is considered a better valuation. A low P/E indicates that investors are paying less to earn from the stock.
- Which is the wood products stock below ₹50?
Among the top 10 wood and wood products stocks, the share prices of Rushil Decor and Ecoboard Industries Ltd are less than ₹50 as of April 16, 2025. These top 10 stocks of wood and its products are categorised based on their market capitalisation.
- How to analyse wood stocks for investment?
Investors can analyse the fundamentals like sales, volume, profit margins, etc. Moreover, they can check the price movement to determine entry, exit and other trends in a particular stock. Investors should also check whether the stock matches their risk tolerance and required portfolio diversification.
- What are the projections for the Indian wood market?
There are strong growth projections for the Indian wood market to grow by US$5.24 Billion in 2025. Moreover, the market is expected to grow at 3.45% CAGR from 2025 to 2029. It can encourage investment growth in the upcoming years.
- How can beginners invest in the stock market?
The stock market is a highly risky avenue for investment. Therefore, beginners should understand the terminologies, mechanisms and products of the stock market thoroughly before investing. Moreover, one can observe the market movements for a few days to invest efficiently.
