Stylam Industries Ltd

₹ 3,336 1.68%

29 Sep - close price

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 ₹ 5,664 Cr.
Current Price ₹ 3,336
High / Low ₹ 4,160 / 1,603
Stock P/E 33.4
Book Value ₹ 476
Dividend Yield 0.00 %
ROCE 26.6 %
ROE 19.9 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.
Promoter holding has increased by 2.76% over last quarter.

Cons

Stock is trading at 7.01 times its book value
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 1000 BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	226	234	215	240	243	263	255	265	283	292	271	283	326
	184	187	167	192	201	208	209	222	230	236	215	227	258
Operating Profit	42	47	48	48	42	54	46	43	53	57	56	56	69
OPM %	19%	20%	22%	20%	17%	21%	18%	16%	19%	19%	21%	20%	21%
	1	2	2	0	3	2	2	1	1	1	1	4	1
Interest	1	1	1	0	1	4	-1	-0	7	2	-7	1	1
Depreciation	5	5	6	6	6	5	6	6	5	5	5	6	4
Profit before tax	36	43	44	41	38	47	42	38	41	51	59	52	65
Tax %	24%	27%	28%	8%	25%	27%	30%	22%	31%	27%	22%	26%	26%
	28	32	31	38	28	34	30	30	28	37	46	38	48
EPS in Rs	16.39	18.73	18.49	22.17	16.73	20.13	17.59	17.45	16.68	22.03	27.15	22.57	28.42
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	461	462	476	659	952	914	1,025	1,129	1,173
	380	382	380	556	797	730	840	909	936
Operating Profit	80	80	95	104	155	184	185	221	237
OPM %	17%	17%	20%	16%	16%	20%	18%	20%	20%
	1	-14	5	8	1	6	8	7	7
Interest	11	11	6	8	8	3	4	4	-3
Depreciation	18	21	23	23	20	22	24	21	20
Profit before tax	52	33	71	81	128	164	165	203	227
Tax %	25%	44%	22%	24%	25%	22%	26%	26%
	39	19	55	61	96	128	122	150	170
EPS in Rs	23.82	11.03	32.61	35.93	56.63	75.78	71.91	88.43	100.17
Dividend Payout %	0%	0%	0%	7%	0%	3%	0%	0%

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

Compounded Profit Growth
10 Years:	%
5 Years:	22%
3 Years:	15%
TTM:	39%

Stock Price CAGR
10 Years:	29%
5 Years:	26%
3 Years:	25%
1 Year:	105%

Return on Equity
10 Years:	%
5 Years:	23%
3 Years:	22%
Last Year:	20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	8	8	8	8	8
Reserves	177	196	251	308	404	528	649	798
	189	118	59	79	47	0	36	29
	64	73	89	93	79	69	85	143
Total Liabilities	438	395	407	489	538	606	778	979
	233	195	188	179	172	175	177	201
CWIP	13	11	0	0	13	2	83	221
Investments	1	2	1	1	1	0	0	0
	191	188	218	309	352	429	518	557
Total Assets	438	395	407	489	538	606	778	979

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	28	66	79	6	66	109	107	177
	-53	19	-5	-30	-12	-36	-126	-156
	22	-80	-64	17	-36	-4	-4	-3
Net Cash Flow	-2	5	9	-6	18	69	-23	18
Free Cash Flow	-17	42	73	-8	40	95	0	-2
CFO/OP	46%	104%	101%	24%	59%	83%	82%	104%

Ratios

Consolidated / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	63	69	76	66	48	64	73	67
Inventory Days	93	98	106	129	110	112	121	132
Days Payable	38	52	76	56	27	29	30	50
Cash Conversion Cycle	117	115	106	139	131	147	163	150
Working Capital Days	30	36	72	82	82	108	110	100
ROCE %		17%	24%	25%	32%	34%	27%	27%

Insights

In beta

Mar 2016

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Export Revenue Share
%

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Team Strength
count

Countries with Direct Presence
count

Laminate Capacity Utilization
%

Laminate Manufacturing Capacity
Mn sheets/year

Laminate Sheets Sold
Mn sheets

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.61%	54.61%	54.61%	54.61%	54.61%	52.19%	52.19%	52.19%	52.19%	52.19%	54.10%	56.86%
	3.99%	3.80%	3.57%	3.84%	3.62%	3.95%	3.68%	2.79%	2.77%	2.04%	2.81%	2.62%
	11.60%	12.02%	11.22%	11.25%	7.90%	11.59%	12.62%	12.30%	13.63%	13.24%	13.31%	12.14%
	29.79%	29.56%	30.61%	30.29%	33.86%	32.25%	31.51%	32.70%	31.41%	32.52%	29.78%	28.39%
No. of Shareholders	21,116	21,249	24,816	25,292	32,183	35,558	33,993	35,499	35,383	32,827	31,776	31,135

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 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%	12.14%
	40.18%	42.84%	40.62%	40.60%	36.00%	30.90%	30.36%	30.61%	31.51%	29.78%	28.39%
No. of Shareholders	4,426	3,906	3,601	3,470	3,495	7,984	13,913	24,816	33,993	31,776	31,135

* 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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