Greenlam Industries Ltd
Greenlam Industries is engaged in the business of manufacturing laminates, decorative veneers and allied products. [1]
- Market Cap ₹ 6,767 Cr.
- Current Price ₹ 265
- High / Low ₹ 325 / 187
- Stock P/E 213
- Book Value ₹ 44.2
- Dividend Yield 0.15 %
- ROCE 7.41 %
- ROE 6.07 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 6.00 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 11.3% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 14.9% of profits over last 3 years
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 926 | 1,030 | 1,076 | 1,145 | 1,281 | 1,321 | 1,200 | 1,703 | 2,026 | 2,306 | 2,569 | 2,766 | |
| 0 | 833 | 900 | 937 | 996 | 1,122 | 1,142 | 1,026 | 1,516 | 1,793 | 2,010 | 2,295 | 2,490 | |
| Operating Profit | -0 | 93 | 130 | 139 | 149 | 159 | 179 | 174 | 188 | 233 | 296 | 275 | 276 |
| OPM % | 10% | 13% | 13% | 13% | 12% | 14% | 14% | 11% | 12% | 13% | 11% | 10% | |
| 0 | 2 | 3 | 2 | 2 | 1 | 4 | -5 | 4 | 18 | 20 | 11 | 5 | |
| Interest | 0 | 33 | 35 | 29 | 18 | 17 | 22 | 17 | 14 | 23 | 44 | 65 | 86 |
| Depreciation | 0 | 33 | 35 | 37 | 36 | 37 | 52 | 56 | 58 | 63 | 87 | 114 | 131 |
| Profit before tax | -0 | 28 | 62 | 76 | 97 | 106 | 108 | 96 | 119 | 164 | 185 | 106 | 64 |
| Tax % | 0% | 32% | 40% | 34% | 33% | 27% | 20% | 23% | 24% | 22% | 25% | 36% | |
| -0 | 19 | 38 | 50 | 65 | 77 | 87 | 74 | 91 | 129 | 138 | 68 | 30 | |
| EPS in Rs | -0.10 | 0.80 | 1.56 | 2.06 | 2.68 | 3.19 | 3.59 | 3.05 | 3.76 | 5.07 | 5.42 | 2.73 | 1.25 |
| Dividend Payout % | 0% | 6% | 6% | 7% | 9% | 9% | 11% | 16% | 16% | 15% | 15% | 15% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 14% |
| 3 Years: | 15% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | -5% |
| 3 Years: | -10% |
| TTM: | -74% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 28% |
| 3 Years: | 18% |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 12% |
| 3 Years: | 11% |
| Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 26 |
| Reserves | -0 | 208 | 233 | 286 | 344 | 416 | 489 | 561 | 642 | 945 | 1,064 | 1,101 |
| 0 | 393 | 365 | 298 | 252 | 270 | 294 | 307 | 398 | 628 | 1,109 | 1,199 | |
| 0 | 230 | 260 | 194 | 216 | 229 | 309 | 291 | 324 | 449 | 539 | 576 | |
| Total Liabilities | 0 | 842 | 871 | 791 | 823 | 927 | 1,104 | 1,172 | 1,376 | 2,035 | 2,726 | 2,902 |
| 0 | 328 | 353 | 324 | 331 | 330 | 429 | 413 | 468 | 506 | 986 | 1,749 | |
| CWIP | 0 | 9 | 4 | 5 | 1 | 22 | 17 | 18 | 9 | 380 | 611 | 28 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 106 | 161 | 242 | 147 | 56 |
| 0 | 505 | 514 | 462 | 492 | 575 | 658 | 634 | 739 | 907 | 981 | 1,068 | |
| Total Assets | 0 | 842 | 871 | 791 | 823 | 927 | 1,104 | 1,172 | 1,376 | 2,035 | 2,726 | 2,902 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 118 | 116 | 185 | 109 | 64 | 96 | 213 | 71 | 169 | 194 | 205 | |
| 0 | -100 | -53 | -22 | -38 | -57 | -54 | -154 | -136 | -535 | -527 | -167 | |
| 0 | -12 | -63 | -160 | -69 | -6 | -22 | -71 | 62 | 366 | 350 | -28 | |
| Net Cash Flow | 0 | 5 | -0 | 3 | 2 | 1 | 20 | -12 | -3 | 0 | 17 | 10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 72 | 65 | 54 | 54 | 50 | 38 | 41 | 28 | 26 | 24 | 22 | |
| Inventory Days | 160 | 168 | 147 | 156 | 163 | 202 | 229 | 195 | 174 | 204 | 198 | |
| Days Payable | 129 | 128 | 83 | 96 | 86 | 91 | 135 | 99 | 93 | 117 | 123 | |
| Cash Conversion Cycle | 103 | 105 | 117 | 115 | 128 | 149 | 135 | 123 | 106 | 112 | 97 | |
| Working Capital Days | 38 | 24 | 25 | 35 | 43 | 40 | 34 | 37 | 16 | 1 | 9 | |
| ROCE % | 20% | 16% | 17% | 19% | 19% | 18% | 15% | 14% | 14% | 12% | 7% |
Documents
Announcements
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Investor Presentation
9m - Investor Presentation on the Financial Results of the Company for the quarter and half year ended September 30, 2025
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Announcement Under Regulation 30
3h - Brownfield expansion: 2.0 Mn sheets annual, Rs70 Crore investment, Naidupeta plant, completion by Q4 FY2027.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
4h - Q2FY26 consolidated revenues ₹808.3cr (18.7% YoY); EBITDA ₹106.8cr; Q2 PAT ₹31.8cr; H1 PAT ₹16.1cr.
- Results-Financial Results 30/09/2025 4h
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Company to attend one-to-one/group investor meetings on 12 Nov 2025 at Anand Rathi Annual Conference, Mumbai.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
from bse
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Financial Year 2017
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Financial Year 2016
from bse
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Financial Year 2015
from bse
Concalls
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Nov 2025TranscriptNotesPPT
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Aug 2025Transcript PPT
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Jun 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Jul 2024Transcript PPT
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Nov 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jul 2022TranscriptNotesPPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Dec 2021TranscriptNotesPPT
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Oct 2021Transcript PPT
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Jul 2021Transcript PPT
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May 2021Transcript PPT
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Feb 2021Transcript PPT
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Dec 2020TranscriptPPT
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Nov 2020TranscriptNotesPPT
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Jul 2020TranscriptNotesPPT
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Jun 2020Transcript PPT
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Jan 2020Transcript PPT
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Nov 2019Transcript PPT
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Jul 2019TranscriptNotesPPT
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May 2019Transcript PPT
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Feb 2019Transcript PPT
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Oct 2018Transcript PPT
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Jul 2018TranscriptNotesPPT
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May 2018Transcript PPT
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Feb 2018Transcript PPT
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Nov 2017Transcript PPT
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Nov 2017TranscriptNotesPPT
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Aug 2017TranscriptNotesPPT
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May 2017Transcript PPT
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Feb 2017TranscriptPPT
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Nov 2016Transcript PPT
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Aug 2016TranscriptNotesPPT
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May 2016TranscriptNotesPPT
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May 2016TranscriptNotesPPT
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May 2016Transcript PPT
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Feb 2016Transcript PPT
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Dec 2015TranscriptNotesPPT
Product Portfolio[1]
Greenlam offers a diverse range of products across three main categories:
a) Laminates & Allied Products
- High-Pressure Laminates
- Compact Panels (Standard, Lab Guardian, Restroom & Locker Solutions)
- Clads- Facade Panels
- Stratus Kitchen Solutions
- Melamine Faced Chip Board
b) Veneer & Allied Products
- Decorative Veneer (Natural, Teak, Engineered)
- Engineered Wooden Flooring
- Matching Flooring Accessories
- Engineered Wooden Doors & Doorsets
c) Plywood & Allied Products
- Plywood
- Blockboard
d) Upcoming Product Category
Particle Board