Greenlam Industries Ltd
NSE:GREENLAM
Greenlam Industries Ltd
Greenlam Industries Ltd. is a holding company, which engages in the provision of laminates, decorative veneer and allied products. The company is headquartered in New Delhi, Delhi and currently employs 2,023 full-time employees. The company went IPO on 2015-03-02. The Company’s branches and dealers’ network are spread all over the country. The company has three subsidiary companies, Greenlam Asia Pacific Pte Ltd, Greenlam America Inc and Greenlam South Ltd. The firm imports raw materials for manufacturing and sells its manufactured goods in both domestic and overseas markets. The overseas subsidiaries of the Company are mainly engaged in the marketing and distribution of its product. The firm operates through two segments. Laminate & Allied Products segment is engaged in the business of manufacturing of laminates, compact laminates and other allied products. Veneer & Allied Products segment is engaged in the business of manufacturing of decorative veneers, engineered wood flooring, engineered door sets and door leaf, and other allied products.
Greenlam Industries Ltd. is a holding company, which engages in the provision of laminates, decorative veneer and allied products. The company is headquartered in New Delhi, Delhi and currently employs 2,023 full-time employees. The company went IPO on 2015-03-02. The Company’s branches and dealers’ network are spread all over the country. The company has three subsidiary companies, Greenlam Asia Pacific Pte Ltd, Greenlam America Inc and Greenlam South Ltd. The firm imports raw materials for manufacturing and sells its manufactured goods in both domestic and overseas markets. The overseas subsidiaries of the Company are mainly engaged in the marketing and distribution of its product. The firm operates through two segments. Laminate & Allied Products segment is engaged in the business of manufacturing of laminates, compact laminates and other allied products. Veneer & Allied Products segment is engaged in the business of manufacturing of decorative veneers, engineered wood flooring, engineered door sets and door leaf, and other allied products.
Revenue Growth: Net revenue for Q3 rose 17.3% year-on-year to INR 706 crores, but was down about INR 100 crores sequentially due to seasonal factors and weaker than expected domestic demand.
Margins: Gross margin improved to 55.6%, but EBITDA margin before ForEx and exceptional items fell to 9.2% from 10.9% last year, impacted by higher operating costs and losses at the chipboard unit.
Net Profit: Company posted a small net loss of INR 0.6 crores for Q3, citing ForEx fluctuations, exceptional wage code expenses, higher interest and depreciation.
Guidance: Management expects to end the year close to its 18–20% revenue growth target, with some possibility of being 1% lower due to challenging demand.
Segmental Update: Laminate business grew revenues and gross margin, but sales volumes were flat year-on-year; chipboard and plywood segments continue to report EBITDA losses, but are expected to break even next year.
Brand Strategy: The company streamlined its brand architecture, consolidating offerings under two main brands—Greenlam and Mikasa—to improve operational efficiency and brand promotion.
