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Greenlam Industries Results: Latest Quarterly Results & Analysis

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Greenlam Industries Ltd. 10 Nov 2025 15:06 PM
Result PDF

Q2FY26 Quarterly Result Announced for Greenlam Industries Ltd.

Furnishing company Greenlam Industries announced Q2FY26 results

  • Net revenues reported at Rs 808.3 crore, growth of 18.7% on YoY basis.
  • Overall laminate business grew by 10.2% in value terms and 7.4% in volume terms on YoY basis.
  • EBITDA before forex fluctuations reported at Rs 106.8 crore, growth of 32.3% on YoY basis.
  • Net Profit reported at Rs 31.8 crore, de-growth of 7.7% on YoY basis, due to forex fluctuation, higher depreciation and interest expenses from new projects.
  • Working capital stood at 47 days improvement of 12 days on YoY basis.

Saurabh Mittal, Managing Director & Chief Executive Officer, Greenlam Industries, said: “We are pleased to share that the second quarter of this fiscal year delivered a well-rounded financial performance across all key parameters. This quarter marked our highest overall revenues, crossing Rs 808.3 crore, reflecting a growth of 18.7% on YoY basis and 20.0% on QoQ basis. The performance was broad-based, supported by strong momentum across all business segments, both in domestic and international markets.

We achieved our highest laminate production and sales during the quarter, with production volume rising by 5.3% and sales volume increasing by 7.4%. The laminate business grew by 10.2% in value terms, led primarily by robust international demand. Our plywood and allied segment—which includes plywood, decorative veneers, engineered floors and engineered doors—also delivered healthy value growth of 22.2% on YoY basis, with the plywood and doors businesses growing 51.6% and 25.6% respectively. Our recently commissioned chipboard facility continued to gain traction, recording a QoQ revenue increase of 54.2% along with reduction in losses.

Operationally, our margins improved on the back of superior product mix, stable raw material costs and disciplined cost management. Gross margins expanded by 300 bps YoY to 54.6%, while EBITDA margins improved by 130 bps YoY to 13.2%. EBITDA before forex fluctuations grew 32.3% YoY to Rs 106.8 crore. Importantly losses in chipboard and plywood narrowed. Net profit for the quarter stood at Rs 31.8 crore, lower by 7.7% YoY, primarily due to forex fluctuation, higher depreciation and interest expenses from new projects that commenced operations last year.

Our net working capital improved by 12 days and stood at 47 days in Q2FY26, reflecting our strong commercial discipline and improving revenue churn. Net debt stood at Rs 995.0 crore.

At Greenlam, we remain steadfast in our commitment to sustainable growth, efficient resource management and navigating industry headwinds with resilience. We continue to bring innovative, design-forward, high-quality surfacing and substrate solutions to our customers, transforming spaces with cutting-edge technology and trusted craftsmanship.”

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Furniture company Greenlam Industries announced Q1FY26 results

  • Consolidated net revenues from operations witnessed a growth of 11.4%, at Rs 673.8 crore, as compared to Rs 604.7 crore in Q1FY25.
    • The domestic business witnessed a growth of 22.2% led by all the categories including chipboard.
  • The operating profits, before net forex fluctuations of Rs 10.6 crore, reported at Rs 54.7 crore as compared to Rs 64.0 crore in Q1FY25.
  • Reported a net loss of Rs 15.7 crore for the current quarter.

Saurabh Mittal, Managing Director & Chief Executive Officer, Greenlam Industries, said: "The Q1FY26 has started on a strong note, with continued momentum and a decent revenue growth of 11.4% YoY. Traditionally, a leaner period compared to the preceding quarter, Q1FY26 stood out with revenue nearly at par with Q4FY25. Our domestic business grew by 22.2% YoY, driven by healthy performance across all segments including chipboard, which had its first full quarter of operations. While our international business remained flat, we see steady traction ahead.

Gross margins improved by 110 basis points and stood at 53.1%, supported by broadly stable raw material costs and a welcome softening in timber prices. Operating profits, before accounting for net forex fluctuations of Rs 10.6 crore, stood at Rs 54.7 crore lower by 14.5% largely due to the initial operating losses in our chipboard business as capacity ramp-up is still underway. Consequently, EBITDA margins came in at 8.1%, lower by 250 bps.

We reported a net loss of Rs 15.7 crore for the quarter, attributed primarily to notional loss of Rs 18.8 crore account of EUR denominated loan for chipboard project due to adverse movement of EURINR during the quarter and higher interest costs and depreciation from the chipboard division, which operated fully for the first time this quarter and. However, our net working capital discipline remains intact, with Q1FY26 at 59 days versus 65 days in Q1FY25, reflecting our consistent operational prudence even amidst recent capacity expansions. Net debt stood at Rs 1039.6 crore at quarter end.

We have successfully stabilised the chipboard production lines, and the product both plain and prelaminated is receiving positive feedback from the market. Encouragingly, our efforts to explore export opportunities in this segment have also begun to show results.

Last quarter, we took a strategic step by transitioning our Decowood Veneers brand to Mikasa Decowood Veneers, unifying our wood panel offerings plywood, veneers, flooring, and doors under the trusted 'Mikasa' brand family. This consolidation strengthens our market position and enables us to offer a holistic, lifestyle-driven product ecosystem to customers globally

At Greenlam, our unwavering focus is on delivering excellence through innovation. We remain committed to introducing technologically advanced, industry-first products that empower our customers to create more inspiring and elevated spaces."

Result PDF

Furniture-Furnishing company Greenlam Industries announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Net revenues reported at Rs 681.8 crore, growth of 9.2% on YoY basis
  • Laminate business grew by 7.2% in value and de-growth by 5.7% in volume terms on YoY basis
  • Plywood business grew by 46.9% in value terms on YoY basis
  • EBIDTA reported at Rs 64.0 crore, de-growth of 23.4% on YoY basis
  • Net Profit reported at Rs 1.5 crore, de-growth of 96.3% on YoY basis
  • Working capital stood at 55 days which is lower by 1 day on YoY basis

FY25 Financial Highlights:

  • Net revenues reported at Rs 2,569.3 crore, growth of 11.4% on YoY basis
  • Laminate business grew by 9.2% in value and 4.1% in volume terms on YoY basis
  • Plywood business grew by 111.7% in value terms on YoY basis
  • EBIDTA reported at Rs 274.6 crore, de-growth of 6.8% on YoY basis
  • Net Profit reported at Rs 68.3 crore, de-growth of 50.5% on YoY basis

Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said," We continue to make steady progress across our core businesses, with overall revenue witnessing a reasonable growth of 9.2% during the quarter. This is despite challenging operating environment. Our laminate segment performed well, led by momentum in international markets, reaffirming our strategic focus on global expansion. The performance of our engineered doors and Plywood businesses also remained encouraging with growth of 46.5% and 46.9% on a year-onyear basis respectively. While decorative veneer and engineered flooring remained subdued with degrowth during the quarter. However, we remain confident in their long-term potential.

Gross margin in absolute terms increased by 4.5%; however, gross margin percentage declined by 230 basis points to 50.7%, due to lower production as compared to sales. EBITDA for the quarter stood at 64.0 crore, impacted by lower gross margins, adverse forex fluctuation and higher operating costs as the company continues to invest in expanding its international footprint. The engineered doors segment delivered an operating profit during the quarter, with a positive outlook for sustained growth. The plywood division also reported improved operating performance, both on a year-on-year and sequential basis. Profit After Tax (PAT) for the quarter stood at 1.5 crore, primarily impacted by lower EBITDA, higher interest and depreciation expenses related to the chipboard business.

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Furniture & Furnishing company Greenlam Industries announced Q3FY25 results

  • Net revenues reported at Rs 602.0 crore, growth of 6.9% on YoY basis.
  • Overall laminate business grew by 4.0% in value terms and 2.6% in volume terms on YoY basis.
  • Engineered Floor, Engineered Doors and Plywood business performed reasonably well during the quarter registering growth of 13.8%, 49.5% and 90.7% respectively on YoY basis.
  • EBITDA reported at Rs 63.5 crore, de-growth of 10.7% on YoY basis.
  • Net Profit reported at Rs 12.5 crore, de-growth of 50.3% on YoY basis.
  • Working capital stood at 67 days, improvement of 5 days on YoY basis.

Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries, said: “The quarter remained subdued, with an overall year-on-year revenue growth of 6.9% taking our net consolidate revenues for the quarter at Rs 602.0 crore. Our international laminate business continued to deliver steady performance in both value and volume terms, reflecting our strong global presence. On the domestic front, the laminate business faced challenges this quarter. However, our Mikasa Floors and Doors businesses showcased growth of 13.8% and 49.5%, respectively, while the plywood segment maintained steady momentum with a YoY growth of 90.7%.

Gross margins during the quarter expanded by 20 basis points to 55.0%, driven by stable raw material costs and pricing discipline. However, lower revenue and higher operating expenses during the quarter impacted EBITDA margins, which contracted by 200 basis points to 10.6%, compared to 12.6% in Q3FY24. Net profit declined to Rs 12.5 crore, primarily due to lower operating profits, higher depreciation and interest for new projects and income tax provisions related to prior period. Our working capital stood at 67 days during the quarter

We are excited to announce the commencement of commercial production at our state-of-the-art chipboard manufacturing facility in Naidupeta, Andhra Pradesh. Equipped with advanced German technology, this facility positions us as India’s only fully integrated manufacturer offering a unified range of laminates, compacts, restroom cubicles, and prelaminated chipboards, all produced at a single location. With an annual capacity of 2,92,380 cubic meters, the plant has the potential to generate revenues of up to Rs 750 crore at full capacity utilization. The total capital investment for this project stands at approximately Rs 735 crore as of the start of commercial production. The prelaminated chipboard will be marketed under the Greenlam MFC brand”.

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Furniture, Furnishing & Paints company Greenlam Industries announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Net revenues reported at Rs 680.8 crore, growth of 12.8% on YoY basis.
  • Overall laminate business grew by 12.4% in value terms and 9.4% in volume terms on YoY basis.
  • EBITDA reported at Rs 81.4 crore, growth of 7.7% on YoY basis.
  • Net Profit reported at Rs 34.4 crore, de-growth of 11.7% on YoY basis, due to higher depreciation and interest related to new projects.
  • Working capital stood at 59 days improvement of 1 day on YoY basis.

H1FY25 Financial Highlights:

  • Net revenues reported at Rs 1285.5 crore, growth of 14.9% on YoY basis.
  • Overall laminate business grew by 12.8% in value and 10.6% in volume terms on YoY basis.
  • EBITDA reported at Rs 145.4 crore, growth of 3.9% on YoY basis.
  • Net Profit reported at Rs 54.3 crore, de-growth of 24.5% on YoY basis, due to higher depreciation and interest related to new projects.

Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said: “In the second quarter of this fiscal year, we have achieved year-on-year growth of 12.8%, bringing total revenues to 680.8 crore despite on ground challenging situation. The growth in revenues was led by both domestic and international businesses. The domestic laminate segment performed well with a value growth of 15.5%, driven by volume increase of 13.8%. International laminate revenue grew by 9.6% in value terms, despite challenges such as container shortages, extended shipment times and higher freight costs. The veneer and allied business remained steady, while our doors segment experienced notable year-on-year growth of 39.0%. The plywood business is also progressing well, and we are now expanding our presence in Maharashtra.

Gross margins for the quarter improved by 20 bps on YoY basis, standing at 51.6%, with raw material costs generally stable except for elevated timber prices and freight costs. EBITDA margins declined 50 bps on YoY basis which stood at 12.0% for the quarter, due to higher operating expenses. However, EBITDA in absolute terms grew by 7.7% on YoY basis and stood at 81.4 crore. During the quarter, engineered floor business reported operating profit. Net profit for the quarter stood at INR 34.4 crore, lower by 11.7% on YoY basis mainly on higher depreciation and interest costs related to new projects which commenced commercial production in the last financial year.

Our net working capital remained steady at 59 days in Q2FY25, reflecting our sound commercial practices, while net debt stood at Rs 991.8 crore. Additionally, our particle board project in Naidupeta, Andhra Pradesh, is progressing well and is slated to commence commercial production in Q3FY25.

Greenlam remains committed to sustainable growth, efficient resource management, and addressing industry challenges to meet our goals. We continue to transform spaces with high-quality products and cutting-edge technology, bringing the latest design trends to our customers ”

Result PDF

Furniture-Furnishing-Paints company Greenlam Industries announced Q1FY25 results:

  • Net revenues reported at Rs 604.7 crore, growth of 17.4% on YoY basis
  • Overall laminate business grew by 13.2% in value terms and 11.9% in volume terms on YoY basis
  • EBITDA was reported flat at Rs 64.0 crore, marginal de-growth of 0.6% on YoY basis
  • Net Profit reported at Rs 19.9 crore, de-growth of 39.7% on YoY basis
  • Working capital stood at 65 days improvement of 7 days on YoY basis

Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said, “The first quarter of 2023-24 witnessed continued momentum with revenue growth of 17.4% on YoY basis. The quarter saw highest international revenues for laminate business of Rs 285.6 crore which grew by 22.1% in value terms and 13.8% in volume terms on YoY basis. However, the international revenue growth was impacted due delayed availability of containers, longer shipment time and increase in freight costs on both imports and exports. The container availability issue has resulted in 1.5 lakhs sheets (~Rs 15.0 crore) worth of goods lying for dispatch at plants. The overall domestic revenues also grew by 11.8% with growth across business segments except for decorative veneers. Even domestic growth was impacted in the quarter by excessive harsh summer season which impacted workers’ availability at the site and disruptions due to general elections which took place during the quarter.

Our gross margins for the quarter were marginally lower and stood at 52.0%. for the quarter. For the quarter, raw material costs excluding freight costs are broadly stable except for timber costs which continues to be elevated. Our EBITDA margins declined to 10.6% in the quarter due to higher operating expenses. Our plywood unit in Tindivanam and laminate unit in Naidupeta, which started operations in FY24, are progressing well. The laminate unit in Naidupeta continues to be EBITDA positive and the plywood unit in Tindivanam is witnessing growth and reduction in losses. Our net working capital days stood at 65 days for Q1FY25 as compared to 72 days for Q1FY24 which shows our disciplined commercial practices. Our net debt stood at Rs 921.8 crore which includes particle board project debt of ~Rs 465.0 crore.

Our particle board project in Naidupeta, Andhra Pradesh, is now expected to start commercial production in Q3FY25. Greenlam remains committed to growth, efficient resource use, and overcoming challenges to achieve our goals.

We continue to be committed to redefining interior spaces with superior quality products and innovation in technology to bring the latest trends in home décor for our customers.”

Result PDF

Furniture-Furnishing-Paints company Greenlam Industries announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Net revenues reported at Rs 624.1 crore, growth of 16.9% on YoY basis
  • Laminate business grew by 9.2% in value and 11.9% in volume terms on YoY basis
  • Veneer & Allied business grew by 44.7% in value terms on YoY basis
  • EBIDTA reported at Rs 83.5 crore, growth of 12.8% on YoY basis
  • Net Profit reported at Rs 40.8 crore, de growth of 11.5% on YoY basis
  • Working capital stood at 60 days which is lower by 6 days on YoY basis

FY24 Financial Highlights:

  • Net revenues reported at Rs 2,306.3 crore, growth of 13.8% on YoY basis
  • Laminate business grew by 10.1% in value and 11.3% in volume terms on YoY basis
  • Veneer & Allied business grew by 20.2% in value terms on YoY basis
  • EBIDTA reported at Rs 294.7 crore, growth of 26.5% on YoY basis
  • Net Profit reported at Rs 138.0 crore, growth of 7.8% on YoY basis 

Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries Ltd. said, "The fourth quarter exhibited an overall revenue growth of 16.9% on a year-over-year (YoY) basis, driven by growth across all segments: laminates, veneer & allied products, and plywood. The laminate business continues to expand in both value and volume terms, growing at 9.2% and 11.9% respectively on a YoY basis with overall capacity utilization for the quarter at 85%. For the quarter, revenues for the veneer and allied business grew by 44.7%, while the plywood business saw a QoQ growth of 64.6%. Our international revenues for the year crossed the Rs 1,000 crore mark for the first time, despite challenging geopolitical situations worldwide. Further, continued disturbances in the Red Sea have led to delays in container availability, longer shipment times on certain routes and increased freight costs. On the domestic front, the building material industry is facing demand challenges. Despite these obstacles, for the quarter our domestic and international revenues grew by 25.8% and 7.2% on YoY basis, respectively.

Our gross margin stood at 53.0%, an improvement of 420 bps. This improvement was due to stable raw material prices in laminate and veneer & allied business. However, timber costs have seen significant increase which has impacted plywood business. Nevertheless, our pricing discipline and continued focus on value mix have helped us achieve an improvement in gross margins. Our EBITDA margin was 13.4%, which is lower by 50 bps compared to the same period last year. Our plywood unit in Tindivanam and laminate unit in Naidupeta, which started operations in FY24, are progressing well. The laminate unit in Naidupeta has turned EBIDTA positive within six months of operations, and the plywood unit in Tindivanam is witnessing growth and a reduction in losses.

Our net working capital days stood at 60 days, an improvement of 12 days over Q3FY24. As of March 31, 2024, our net debt stood at Rs 834.0 crore.

Our particle board project in Naidupeta, Andhra Pradesh, is now expected to start commercial production in Q3FY25. Greenlam remains committed to growth, efficient resource use, and overcoming challenges to achieve our goals.”

Result PDF

Furniture-Furnishing-Paints company Greenlam Industries announced Q3FY24 & 9MFY24 results:

Consolidated Q3FY24:
- Revenue: Greenlam Industries reported net revenues of Rs 563.4 crore for the quarter ended December 31, 2023, marking an 11.9% increase from the same period in the previous year.
- EBIDTA: The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBIDTA) for the quarter stood at Rs 71.1 crore, registering a significant rise of 29.8% year-over-year (YoY).
- Net Profit: However, net profit experienced an 11.8% decline YoY, amounting to Rs 25.3 crore.
- Basic EPS: Earnings Per Share (EPS) for the quarter was Rs 1.98, compared to Rs 2.30 in the corresponding quarter of the previous year.

Consolidated 9MFY24:
- Revenue: For the nine months ended December 31, 2023, net revenues reached Rs 1682.3 crore, a 12.7% increase YoY.
- EBIDTA: The EBIDTA for the nine months grew by 32.9% to Rs 211.1 crore.
- Net Profit: Net profit ascended by 17.8% to Rs 97.2 crore for the nine months under review.
- Basic EPS: Basic EPS of Rs 7.62 was reported for the nine-month period.

Business Segment Growth:
- Laminate Business: In terms of value, the laminate business grew by 8.8% in the quarter and 10.5% over the nine months. Volume growth for both periods was also positive at 9.1% and 11.0%, respectively.

Operational Highpoints:
- Gross Margin: Gross margins improved by 650 basis points for the quarter, reaching 54.8%.
- Working Capital: Working capital days increased to 72 days, which was a 4-day rise YoY.
- Net Debt: As of December 31, 2023, the company's net debt amount stood at Rs 847.1 crore.

Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said, "For the third quarter of FY 2023-2024 our overall revenue growth was 11.9% on a YoY basis. This is contributed by growth in laminates, decorative veneer & wooden flooring product categories. The laminate business continues to grow both in value and volume terms. For the quarter on a YoY basis, value growth in the laminate business is 12.8% and 4.8% for domestic and international markets respectively and volume growth in the laminate business is 11.2% and 6.0% for domestic and international markets respectively. The above growth has been achieved despite challenging market situations across geographies and recent geopolitical issues at the Red Sea which have led to delays in the availability of containers, longer shipment time, and significant increases in freight cost. The overall un-booked export revenue due to shipment issues is approx. Rs 20 crore, which has led to higher inventory as well. For the quarter, revenues for veneer and allied businesses grew by 7.4% on a YoY basis, and the plywood business grew by 6.9% on a QoQ basis.

The gross margin for the quarter improved by 650 bps on a YoY basis and stood at 54.8% largely on account of stable raw material cost and a favourable product mix. The EBIDTA margin, after accounting for initial losses from the plywood business and Naidupeta laminate unit, for the quarter improved by 170 bps on a YoY basis and stood at 12.6%. Further, our engineered flooring business has turned EBIDTA positive during the quarter.

Our net working capital days stood at 72 days, an increase of 4 days as compared to the same quarter last year, primarily on account of inventory built-up for our Plywood and Naidupeta laminate unit and goods stuck at ports. Our net debt as of Dec 31, 2023, stood at Rs 847.1 crore."

Result PDF

Furniture-Furnishing Paints company Greenlam Industries announced Q1FY24 results:

  • Net revenues reported at Rs 515.2 crore, a growth of 9.5% on a YoY basis
  • Overall laminate business grew by 9.7% in value terms and 5.8% in volume terms on a YoY basis
  • EBIDTA reported at Rs 64.4 crore, a growth of 27.8% on a YoY basis
  • Net Profit reported at Rs 32.2 crore, a growth of 31.2% on a YoY basis
  • Working capital stood at 72 days improvement of 5 days on a YoY basis

Speaking about the results Saurabh Mittal, Managing Director, and Chief Executive Officer, Greenlam Industries said, “The first quarter of 2023-24 witnessed continued momentum with revenue growth of 9.5% on a YoY basis. The quarter saw the highest laminate production of 4.68 million sheets. However, the export sales growth was impacted due to a disturbance in port operations for 10 days, which was caused by cyclone conditions. The overall volume growth for the laminate business stood at 5.8% on a YoY basis.

Our gross margins for the quarter stood at 52.3% as compared to 45.0% in the same quarter of last year. Our EBIDTA margins improved to 12.5% in the quarter. Our disciplined commercial practices resulted in the improvement of our net working capital days by 5 days to 72 days in Q1FY24 as compared to 77 days in Q1FY23. It also takes into account the impact of inventory buildup in our new projects. Our net debt stood at Rs 521.7 crore which includes product debt of Rs 422.3 crore.

In this quarter, we entered the Plywood business in South India marketed under the brand name MikasaPly “The No Nonsense Ply” at Tindivanam, Tamil Nadu. This state-of-the-art facility spans over 17 acres and has an annual production capacity of 18.9 million square meters per annum, which has the potential to generate revenue of Rs 400 crore per annum on full capacity utilization. The total capex incurred for the project stands at Rs 130 crore approx. till the commencement of commercial production. Currently, the plant is in stabilization mode, and we expect to ramp up production soon. The greenfield laminate plant and particle board plant at Naidupeta, Andhra Pradesh are expected to start production by Q2FY24 and Q4FY24 respectively. We remain committed to the successful completion of our projects.

We continue to be committed to redefining interior spaces with superior quality products and innovation in technology to bring the latest trends in home décor to our customers”

 

Result PDF

Furniture-Furnishing Paints company Greenlam Industries announced Q4FY23 & FY23 results:

  • Consolidated Q4FY23:
    • Net revenues reported at Rs 533.8 crore, a growth of 15.2% on a YoY basis
    • Overall laminate business grew by 16.0% in value and 16.8% in volume terms on a YoY basis
    • EBIDTA reported at Rs 74.1 crore, a growth of 49.4% on a YoY basis
    • Net Profit reported at Rs 46.1 crore, a growth of 79.7% on a YoY basis
    • Working capital stood at 66 days improvement of 8 days on a YoY basis
  • Consolidated FY23:
    • Net revenues reported at Rs 2,026.0 crore, a growth of 18.9% on a YoY basis
    • Overall laminate business grew by 19.0% in value and 3.1% in volume terms on a YoY basis
    • EBIDTA reported at Rs 232.9 crore, a growth of 24.5% on a YoY basis
    • Net Profit reported at Rs 128.0 crore as against Rs 41.4 crore in FY22, a growth of 41.4% on a YoY basis

Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said, “The fourth quarter exhibited overall good business performance with revenue growing 15.2% on a YoY basis. The laminate business demonstrated strong momentum with both domestic and exports growing by 11.1% and 20.9% respectively. The laminate business also grew 16.8% in volume terms. In the Veneer and Allied Segment, the decorative veneer business grew in the quarter whereas the floors and doors business remained subdued. For the year, our revenue from operations surpassed Rs 2000 crore milestone. For the quarter, our gross margins and operating margins for the quarter expanded by 390 bps and 320 bps respectively on account of softening in raw material, freight cost, and higher revenue. Our return on capital employed excluding project capex (ROCE) experienced a notable improvement to 24.0% during the quarter. Additionally, sequentially the working capital days declined by 2 days and stood at 66 days for the quarter. As of March 31, 2023, our net debt stood at Rs 312.0 crore, including Rs 226.7 crore of debt towards our ongoing projects.

We have commissioned the enhanced capacity of our Prantij, Gujarat plant in May and the total laminate capacity now stands at 21.02 million sheets. We expect to start the commercial production of a greenfield plywood unit at Tindivanam, Tamil Nadu in June 2023. The greenfield laminate plant and particle board plant at Naidupeta, Andhra Pradesh are expected to start production by Q2FY24 and Q4FY24 respectively. We remain committed to the successful completion of our projects and look forward to the positive impact they will have on our overall operations.

At Greenlam, we always believe in serving our customers with top-notch products and services. Our constant endeavour is to bring superior and exquisite products, which are developed using the latest industry-first technology that aids them to redefine their living spaces.”

 

 

Result PDF

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