Greenply Industries announced that the company has commenced the commercial production of a new product line ''Engineered Wood Floors, also commonly known as multi-layer parquet'' at the company's manufacturing unit at Behror, Rajasthan.

With an installed capacity to manufacture one million sq. meter per annum, we have become the first company to manufacture this product in India. Currently, these products are being imported to the country by various importers to fulfill local demands.

The new products will be marketed under a new brand ''Mikasa'' by the company.

Shares of the company declined Rs 24.1, or 2.37%, to trade at Rs 992.60. The total volume of shares traded was 257 at the BSE (12.30 p.m., Thursday).