Stylam Industries Ltd

₹ 2,960 1.11%

04 Nov 4:01 p.m.

About

Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name “STYLAM” and exports its products primarily to European and South East Asian countries.
It manufactures a wide range of high-quality decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces and compact laminates. ^[1]

Key Points

Market Leadership:^[1] ^[2]
The company is the largest laminate manufacturer in India. It is global
pioneer for the Hot Coating Process technology. It also introduced India’s first PU+ Lacquer Coating process.

Website BSE NSE

Market Cap ₹ 5,016 Cr.
Current Price ₹ 2,960
High / Low ₹ 4,160 / 1,851
Stock P/E 28.8
Book Value ₹ 529
Dividend Yield 0.00 %
ROCE 26.6 %
ROE 19.9 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.

Cons

Though the company is reporting repeated profits, it is not paying out dividend

* 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.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Plywood Boards/ Laminates

Part of BSE Consumer Discretionary BSE 1000 Nifty Total Market Nifty Smallcap 500 Nifty Microcap 250

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	234	215	240	243	263	255	265	283	292	271	283	326	341
YoY Sales growth	-5%	-8%	+1%	+7%	+12%	+19%	+11%	+17%	+11%	+6%	+7%	+15%	+16%
	187	167	192	201	208	209	222	230	236	215	228	258	283
Operating Profit	47	48	48	42	54	46	43	53	57	56	55	69	57
OPM %	20%	22%	20%	17%	21%	18%	16%	19%	19%	21%	20%	21%	17%
	2	2	0	3	2	2	1	1	1	1	4	1	4
Interest	1	1	0	1	4	-1	-0	7	2	-7	1	1	1
Depreciation	5	6	6	6	5	6	6	5	5	5	6	4	5
Profit before tax	43	43	41	38	47	42	38	41	51	59	52	65	55
Tax %	27%	28%	8%	25%	27%	28%	23%	31%	27%	22%	27%	26%	24%
	32	31	38	28	34	30	29	28	37	46	38	48	42
EPS in Rs	18.73	18.48	22.16	16.73	20.12	17.94	17.09	16.67	22.03	27.14	22.36	28.41	24.98
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	214	264	294	339	461	462	480	659	952	914	1,025	1,129	1,221
Sales growth	+16%	+23%	+11%	+15%	+36%	+0%	+4%	+38%	+44%	-4%	+12%	+10%	+11%
	191	234	249	290	380	382	380	556	797	730	840	909	984
Operating Profit	23	30	46	50	80	80	99	104	155	184	185	220	237
OPM %	11%	11%	16%	15%	17%	17%	21%	16%	16%	20%	18%	20%	19%
	0	1	1	2	1	-14	1	8	1	6	7	7	11
Interest	5	6	10	8	11	11	6	8	8	3	4	4	-4
Depreciation	4	5	6	11	18	21	23	23	20	22	24	21	21
Profit before tax	14	20	31	33	52	34	71	80	128	164	165	203	231
Tax %	32%	38%	37%	39%	25%	44%	22%	24%	25%	22%	26%	26%
	9	12	20	20	39	19	55	61	96	128	122	149	174
EPS in Rs	6.43	8.32	13.45	12.31	23.82	11.19	32.72	36.00	56.61	75.76	71.88	88.19	102.89
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	7%	0%	3%	0%	0%

Compounded Sales Growth
10 Years:	16%
5 Years:	19%
3 Years:	6%
TTM:	11%

Compounded Profit Growth
10 Years:	28%
5 Years:	21%
3 Years:	15%
TTM:	40%

Stock Price CAGR
10 Years:	26%
5 Years:	22%
3 Years:	19%
1 Year:	41%

Return on Equity
10 Years:	22%
5 Years:	22%
3 Years:	22%
Last Year:	20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	7	7	7	8	8	8	8	8	8	8	8	8	8
Reserves	37	49	69	137	177	196	251	308	404	528	649	798	889
	82	117	184	127	189	118	59	79	47	0	36	29	44
	24	38	43	56	64	73	89	93	79	69	85	143	186
Total Liabilities	149	211	303	328	438	395	407	489	538	606	779	979	1,127
	49	56	80	186	233	195	188	179	172	175	177	201	484
CWIP	31	56	109	0	13	11	0	0	13	2	83	221	12
Investments	0	0	0	0	1	2	2	2	2	1	1	1	1
	70	99	115	143	191	188	218	308	351	428	517	556	629
Total Assets	149	211	303	328	438	395	407	489	538	606	779	979	1,127

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6	11	26	19	28	66	79	6	66	109	107	177
	-12	-38	-77	-8	-53	19	-6	-30	-12	-37	-126	-156
	5	26	51	-11	22	-80	-64	17	-36	-4	-4	-3
Net Cash Flow	-2	-0	-0	0	-2	5	9	-7	18	68	-23	18
Free Cash Flow	-7	-27	-51	10	-17	42	73	-8	40	95	0	-2
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	38%	55%	74%	61%	46%	104%	97%	24%	59%	83%	82%	104%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	57	55	58	62	63	69	75	66	48	64	73	67
Inventory Days	71	111	128	117	93	98	106	129	110	112	121	132
Days Payable	37	51	44	68	38	52	76	56	27	29	30	50
Cash Conversion Cycle	92	116	143	111	117	115	105	139	131	147	163	150
Working Capital Days	4	11	-25	10	30	36	71	82	82	108	110	100
ROCE %	16%	18%	19%	15%	20%	17%	24%	25%	32%	34%	27%	27%

Insights

In beta

Mar 2016

Mar 2017

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Mar 2026

Export Revenue Share
%

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
		xx		xx				xx	xx	xx
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							xx	xx	xx	xx
			xx.xx	xx.xx				xx.xx		xx.xx

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Countries with Direct Presence
count

Laminate Sheets Sold
Mn sheets

Laminate Capacity Utilization
%

Laminate Manufacturing Capacity
Mn sheets/year

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	54.61%	54.61%	54.61%	54.61%	52.19%	52.19%	52.19%	52.19%	52.19%	54.10%	56.86%	56.86%
	3.80%	3.57%	3.84%	3.62%	3.95%	3.68%	2.79%	2.77%	2.04%	2.81%	2.62%	2.62%
	12.02%	11.22%	11.25%	7.90%	11.59%	12.62%	12.30%	13.63%	13.24%	13.31%	12.14%	10.79%
	29.56%	30.61%	30.29%	33.86%	32.25%	31.51%	32.70%	31.41%	32.52%	29.78%	28.39%	29.74%
No. of Shareholders	21,249	24,816	25,292	32,183	35,558	33,993	35,499	35,383	32,827	31,776	31,135	34,274

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	58.83%	52.71%	52.71%	52.75%	54.61%	54.61%	54.61%	54.61%	52.19%	54.10%	56.86%
	0.99%	1.77%	3.64%	3.87%	4.90%	5.21%	2.53%	3.57%	3.68%	2.81%	2.62%
	0.00%	2.68%	3.03%	2.78%	4.49%	9.27%	12.49%	11.22%	12.62%	13.31%	10.79%
	40.18%	42.84%	40.62%	40.60%	36.00%	30.90%	30.36%	30.61%	31.51%	29.78%	29.74%
No. of Shareholders	4,426	3,906	3,601	3,470	3,495	7,984	13,913	24,816	33,993	31,776	34,274

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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