Greenlam Industries Ltd logo

Greenlam Industries Ltd

GREENLAM NSE

Key Fundamentals

MicrocapPlywood Boards & LaminatesConsumer Goods
Market Cap
₹6,431 Cr
Volatility
Moderate
P/E Ratio
70.04
EBITDA
₹333 Cr
Return on Equity
4.75%
Debt to Equity
0.98
Book Value
₹46.22
EPS
₹9.84
52W High
₹278.63
52W Low
₹197.59

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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53 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

2
  • Stock is trading at 5.47 times its book value
  • Company has a low return on equity of 7.89% over last 3 years.

Growth Rate

Revenue Growth
18.37% ↗
Net Income Growth
-18.01% ↗
Cash Flow Change
38.94% ↗
ROE
-21.75% ↗
ROCE
7.25% ↗
EBITDA Margin (Avg.)
-1.45% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 42d ago
AI opinion · based on fundamentals
Risk high

Greenlam Industries is a mid-cap building materials company trading at a PE of 121x with a market cap of ~₹6,918 crore. Revenue grew 18.6% YoY to a record ₹3,046 crore in FY26, but net profit declined 18% to ₹56 crore (EPS ₹2.21) as margins compressed due to capacity ramp-up costs, higher interest, and depreciation from recent capex.

Bull Case 8
  • Record FY26 consolidated revenue of ₹3,046 crore, up 18.6% YoY, crossing ₹3,000 crore for the first time
  • Compounded sales growth of 20% over 5 years and 15% over 3 years demonstrates sustained top-line momentum
  • Q4 FY26 revenue surged 25.8% YoY to ₹858 crore with EBITDA margin expanding 250 bps YoY to 12.5%, signalling operating leverage recovery
  • Q4 FY26 net profit recovered to ₹40.5 crore versus a near-breakeven ₹1.5 crore in Q4 FY25, showing inflection in profitability
  • Management has guided for 18-20% revenue growth in FY27, supported by market share gains across laminates, plywood and chipboard segments
  • Stock has delivered a 15% CAGR over 5 and 10 years, indicating long-term wealth creation track record
  • Diversification into plywood and chipboard adds new growth avenues beyond the core laminate business which already holds a leading domestic market position
  • Gross margin improved 20 bps YoY to 55% in Q3 FY25, indicating pricing power and raw material cost management
Bear Case 8
  • PE ratio of 121x is extremely stretched, implying heavy earnings growth expectations are already priced in
  • Net profit declined from ₹138 crore in FY24 to ₹68 crore in FY25 and further to ₹56 crore in FY26 — a 59% cumulative fall over two years
  • FY26 EPS of ₹2.21 versus ₹10.85 in FY24 represents a nearly 80% erosion in per-share earnings
  • 3-year compounded profit CAGR is -22%, reflecting structural margin dilution from new business ramp-ups
  • Interest costs rose from ₹44 crore in FY24 to ₹65 crore in FY25 to ₹96 crore in FY26, a 117% increase in two years, with low interest coverage ratio flagged
  • Return on equity has deteriorated from 13% (10-year average) to just 5% in the last year and 8% over 3 years
  • Stock trades at 5.78x book value despite sub-6% ROE, suggesting valuation is disconnected from current return generation
  • Dividend yield of just 0.15% with a payout of only 18% offers negligible income support while earnings remain depressed

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Neutral 1
  • 13th AGM scheduled via VC Jul 6

    Greenlam Industries will hold its 13th AGM on July 29, 2026 via video conferencing. Remote e-voting runs July 26-28, with dividend bank detail updates required by July 23, 2026.

TL;DR: Limited recent news flow for Greenlam Industries, with only a routine AGM announcement on the calendar. No material headwinds or positive catalysts identified in this period. The lack of negative news is benign, but investors should watch for any operational updates or guidance that may emerge at the July 29 AGM.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
515
604
563
624
605
681
602
682
674
808
706
858
797
Expenses
451
528
492
541
541
599
538
618
630
704
638
749
717
Operating Profit
64
76
71
84
64
81
64
64
44
104
68
108
80
OPM %
12%
13%
13%
13%
11%
12%
11%
9%
7%
13%
10%
13%
10%
Other Income
4
6
3
9
3
8
1
0
2
1
-4
2
6
Interest
7
9
14
13
14
16
16
20
26
24
23
23
19
Depreciation
17
19
24
26
26
27
27
33
35
36
36
35
35
PBT
44
53
35
53
27
47
21
11
-14
46
6
52
31
Tax %
24%
26%
29%
23%
26%
27%
41%
86%
8%
31%
111%
22%
31%
Net Profit
33
39
25
41
20
34
13
1
-16
32
-1
41
21
EPS in Rs
1.3
1.54
0.99
1.61
0.79
1.36
0.5
0.08
-0.6
1.27
-0.01
1.55
0.84
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
926
1,030
1,076
1,145
1,281
1,321
1,200
1,703
2,026
2,306
2,569
3,046
3,169
Expenses
833
900
937
996
1,122
1,142
1,026
1,516
1,793
2,010
2,295
2,721
2,808
Operating Profit
93
130
139
149
159
179
174
188
233
296
275
325
361
OPM %
10%
13%
13%
13%
12%
14%
14%
11%
12%
13%
11%
11%
11%
Other Income
2
3
2
2
1
4
-5
4
18
20
11
2
6
Interest
33
35
29
18
17
22
17
14
23
44
65
96
90
Depreciation
33
35
37
36
37
52
56
58
63
87
114
142
142
PBT
28
62
76
97
106
108
96
119
164
185
106
89
135
Tax %
32%
40%
34%
33%
27%
20%
23%
24%
22%
25%
36%
37%
—
Net Profit
19
38
50
65
77
87
74
91
129
138
68
56
93
EPS in Rs
0.8
1.56
2.06
2.68
3.19
3.59
3.05
3.76
5.07
5.42
2.73
2.2
3.65
Div. Payout %
6%
6%
7%
9%
9%
11%
16%
16%
15%
15%
15%
18%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
12
12
12
12
12
12
12
12
13
13
26
26
Reserves
208
233
286
344
416
489
561
642
945
1,064
1,101
1,154
Borrowings
393
365
298
252
270
294
307
398
628
1,109
1,199
1,160
Other Liabilities
230
260
194
216
229
309
291
324
449
539
576
659
Total Liabilities
842
871
791
823
927
1,104
1,172
1,376
2,035
2,726
2,902
2,999
Fixed Assets
328
353
324
331
330
429
413
468
506
986
1,749
1,709
CWIP
9
4
5
1
22
17
18
9
380
611
28
10
Investments
0
0
0
0
0
0
106
161
242
147
56
52
Other Assets
505
514
462
492
575
658
634
739
907
981
1,068
1,228
Total Assets
842
871
791
823
927
1,104
1,172
1,376
2,035
2,726
2,902
2,999
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
118
116
185
109
64
96
213
71
169
194
210
292
Investing
-100
-53
-22
-38
-57
-54
-154
-136
-535
-527
-167
-80
Financing
-12
-63
-160
-69
-6
-22
-71
62
366
350
-34
-191
Net Cash Flow
5
0
3
2
1
20
-12
-3
0
17
10
21
Free Cash Flow
17
64
161
70
7
42
163
-14
-297
-440
-56
204
CFO/OP
138
99
144
94
62
70
138
56
88
81
95
104
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
72
65
54
54
50
38
41
28
26
24
22
26
Inventory Days
160
168
147
156
163
202
229
195
174
204
198
197
Days Payable
129
128
83
96
86
91
135
99
93
117
123
131
Cash Conversion Cycle
103
105
117
115
128
149
135
123
106
112
97
92
Working Capital Days
38
24
25
35
43
40
34
37
16
1
9
13
ROCE %
20%
16%
17%
19%
19%
18%
15%
14%
14%
12%
7%
8%

Shareholding Pattern

As of Jun 2026
Promoters 50.98%
Public 18.58%
Others 18.06%
DIIs 10.90%
FIIs 1.47%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Jul 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
54.90%
54.90%
53.90%
53.90%
53.90%
53.90%
51.22%
51.22%
51.22%
51.22%
51.22%
51.22%
50.98%
50.98%
50.98%
50.98%
50.98%
50.98%
50.98%
50.98%
50.98%
50.98%
50.98%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
1.37%
0.00%
1.36%
1.77%
1.72%
1.78%
1.76%
1.74%
1.74%
1.74%
1.78%
1.47%
DIIs
15.35%
15.28%
13.57%
13.78%
13.77%
14.00%
13.30%
13.37%
13.10%
15.70%
15.61%
15.58%
12.84%
15.56%
15.60%
15.63%
15.72%
15.73%
15.15%
14.59%
14.48%
13.97%
10.90%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
15.57%
15.48%
15.24%
15.37%
15.36%
13.81%
13.12%
13.18%
13.34%
13.28%
14.45%
14.54%
15.76%
15.78%
15.44%
15.46%
15.34%
15.33%
15.72%
16.27%
16.28%
16.65%
18.58%
Others
14.19%
14.34%
17.30%
16.95%
16.97%
18.30%
22.36%
22.23%
22.35%
19.81%
18.72%
17.28%
20.41%
16.32%
16.21%
16.21%
16.18%
16.19%
16.40%
16.41%
16.51%
16.62%
18.06%
No. of Shareholders
5,960
6,192
6,351
10,958
12,135
13,201
13,202
13,482
13,316
12,889
14,060
14,278
18,022
16,848
14,771
15,142
14,412
15,408
16,093
16,232
16,983
16,425
16,944

Documents

Frequently Asked Questions about Greenlam Industries Ltd

What does Greenlam Industries Ltd do?
Greenlam Industries is engaged in the business of manufacturing laminates, decorative veneers and allied products. [1]
Where is Greenlam Industries Ltd (GREENLAM) listed?
Greenlam Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: GREENLAM and BSE: 538979. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Greenlam Industries Ltd belong to?
Greenlam Industries Ltd operates in the Consumer Goods sector within the Plywood Boards & Laminates industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Greenlam Industries Ltd?
Greenlam Industries Ltd has a market capitalisation of approximately ₹6431.00 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Greenlam Industries Ltd?
The Price-to-Earnings (PE) ratio of Greenlam Industries Ltd is 70.04. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Greenlam Industries Ltd?
Over the past 52 weeks, Greenlam Industries Ltd has traded between a low of ₹197.59 and a high of ₹278.63. This range helps investors understand the stock's price volatility and recent trading levels.
Does Greenlam Industries Ltd pay dividends?
Yes, Greenlam Industries Ltd has a dividend yield of 0.16%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Greenlam Industries Ltd?
Greenlam Industries Ltd has a Return on Equity (ROE) of 4.75%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Greenlam Industries Ltd on Tapetide?
On Tapetide, you can view Greenlam Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Greenlam Industries is engaged in the business of manufacturing laminates, decorative veneers and allied products. [1]

Website greenlamindustries.com
CEO Mr. Saurabh Mittal B.Com
Employees 3,383
Listed 2015-03-02
Face Value ₹ 1
Issued Size 25,51,47,702

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