Stylam Industries Ltd logo

Stylam Industries Ltd

STYLAMIND NSE

Key Fundamentals

MicrocapPlywood Boards & LaminatesConsumer Goods
Market Cap
₹6,093 Cr
Volatility
Moderate
P/E Ratio
37.39
EBITDA
₹227 Cr
Return on Equity
18.57%
Debt to Equity
0.04
Book Value
₹476.13
EPS
₹76.61
52W High
₹4,150
52W Low
₹1,594.1

Insights

Beta

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

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48 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Promoter holding has increased by 2.76% over last quarter.

Weaknesses

2
  • Stock is trading at 7.53 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend

Growth Rate

Revenue Growth
10.02% ↘
Net Income Growth
22.97% ↘
Cash Flow Change
65.12% ↗
ROE
0.16% ↘
ROCE
-0.64% ↘
EBITDA Margin (Avg.)
7.29% ↘

AI Analysis — Bull vs Bear

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

Stylam Industries is a nearly debt-free laminates manufacturer with a market cap of ₹5,417 crore, trading at a P/E of 36.5x. The company has delivered a 10-year profit CAGR of 29% and maintains a consistent ROE of 20-23%, while its recent revenue growth has moderated to 6% CAGR over three years versus 19% over five years.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and low interest burden (interest cost just ₹3.9 crore in FY25 on revenue of ₹1,025 crore)
  • Consistent high ROE averaging 22-23% over 5 and 10 years, with last year at 20%, indicating efficient capital allocation
  • Strong long-term profit compounding at 29% CAGR over 10 years and 22% over 5 years
  • Promoter holding increased by 1.92% in the last quarter (now ~54.1%), signalling insider confidence
  • Stock has delivered 32% CAGR over 10 years and 30% over 5 years, reflecting sustained wealth creation
  • New third laminates plant in Panchkula, Haryana expanding manufacturing capacity, with management targeting 80% utilisation in the next year
  • Export-led growth strategy with management targeting 20% rise in export volumes through regional distribution hubs and North American warehouses
  • Operating profit margin improved to ~18% in FY25 (₹185 crore OPM on ₹1,025 crore revenue), up from ~15.5% five years ago
Bear Case 8
  • P/E of 36.5x is elevated for a building materials company, requiring sustained high growth to justify the valuation
  • Revenue growth has decelerated sharply — 3-year sales CAGR of just 6% versus 19% over 5 years and 16% over 10 years
  • Company does not pay meaningful dividends despite consistent profitability (dividend yield only 0.08%), offering no income return to shareholders
  • P/B ratio of 6.78x is expensive, pricing in significant future growth that may not materialise if revenue stagnation continues
  • TTM revenue growth of 10% is modest relative to the valuation multiple of 36.5x P/E, implying a PEG above 1.5x
  • FY24 saw a revenue decline of ~4% YoY (₹914 crore vs ₹952 crore in FY23), showing vulnerability to demand cycles
  • Capacity expansion via new plant introduces execution risk and could depress return ratios during ramp-up phase
  • Promoter holding at ~54.1% means limited free float (~46%), which can lead to higher stock price volatility on relatively low volumes

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

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Positives 3
  • Aica Kogyo raises stake to 40% Jun 18

    Aica Kogyo acquired an additional 10.13% stake via off-market transaction on June 17, 2026, raising total holding to 40% of paid-up voting share capital. Strategic investor confidence at a significant ownership level.

  • Eight new directors appointed Jun 17

    Board appointed eight directors including Mr. Naruhiro Amada as Executive Director effective June 17, 2026. Articles of association amended to grant special rights to Aica Kogyo, signaling deeper strategic partnership.

  • Investor engagement at forum Jun 9

    Stylam Industries scheduled investor meetings on June 16, 2026 in Mumbai at the Systematix Promoters and Founders Forum 2026, indicating proactive capital market outreach.

Neutral 2
  • Share transfer disclosure revised Jun 30

    Sellers revised disclosures for 27.12% stake transfer to Aica Kogyo. No new transactions occurred; purely a regulatory compliance update.

  • FY26 promoter holding at 54.11% Jun 20

    Promoters held 54.11% equity shares as on March 31, 2026, disclosed under SEBI regulations. Standard periodic shareholding disclosure.

TL;DR: Stylam Industries is undergoing a significant strategic realignment with Japanese partner Aica Kogyo now holding 40% stake and gaining board-level special rights. No operational or financial headwinds are visible in recent news flow. The trend is constructive — a strong foreign strategic investor deepening commitment typically signals confidence in long-term growth and potential for technology/market access synergies. Key monitorable going forward is how the Aica partnership translates into operational improvements and whether promoter holding dilution stabilizes.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
226
234
215
240
243
263
255
265
283
292
271
283
326
Expenses
184
187
167
192
201
208
209
222
230
236
215
228
258
Operating Profit
42
47
48
48
42
54
46
43
53
57
56
55
69
OPM %
19%
20%
22%
20%
17%
21%
18%
16%
19%
19%
21%
20%
21%
Other Income
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
PBT
36
43
43
41
38
47
42
38
41
51
59
52
65
Tax %
24%
27%
28%
8%
25%
27%
28%
23%
31%
27%
22%
27%
26%
Net Profit
28
32
31
38
28
34
30
29
28
37
46
38
48
EPS in Rs
16.39
18.73
18.48
22.16
16.73
20.12
17.94
17.09
16.67
22.03
27.14
22.36
28.41
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
214
264
294
339
461
462
480
659
952
914
1,025
1,129
1,173
Expenses
191
234
249
290
380
382
380
556
797
730
840
909
937
Operating Profit
23
30
46
50
80
80
99
104
155
184
185
220
236
OPM %
11%
11%
16%
15%
17%
17%
21%
16%
16%
20%
18%
20%
20%
Other Income
0
1
1
2
1
-14
1
8
1
6
7
7
7
Interest
5
6
10
8
11
11
6
8
8
3
4
4
-3
Depreciation
4
5
6
11
18
21
23
23
20
22
24
21
20
PBT
14
20
31
33
52
34
71
80
128
164
165
203
227
Tax %
32%
38%
37%
39%
25%
44%
22%
24%
25%
22%
26%
26%
—
Net Profit
9
12
20
20
39
19
55
61
96
128
122
149
169
EPS in Rs
6.43
8.32
13.45
12.31
23.82
11.19
32.72
36
56.61
75.76
71.88
88.19
99.94
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
7%
0%
3%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

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

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
6
11
26
19
28
66
79
6
66
109
107
177
Investing
-12
-38
-77
-8
-53
19
-6
-30
-12
-37
-126
-156
Financing
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/OP
38
55
74
61
46
104
97
24
59
83
82
104
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Promoters 56.86%
Public 21.52%
DIIs 12.14%
Others 6.86%
FIIs 2.62%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
54.61%
52.19%
52.19%
52.19%
52.19%
52.19%
54.11%
56.86%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.00%
0.00%
3.57%
3.84%
3.62%
3.96%
3.68%
2.79%
2.77%
2.04%
2.80%
2.62%
DIIs
3.97%
4.37%
4.70%
5.13%
5.14%
5.11%
11.33%
11.62%
5.00%
12.96%
11.60%
4.13%
11.21%
11.25%
7.90%
11.59%
12.61%
12.31%
13.63%
13.23%
13.32%
12.14%
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%
Public
20.31%
20.68%
20.72%
20.37%
20.05%
20.65%
18.56%
21.47%
20.62%
19.22%
19.94%
19.43%
20.16%
18.98%
22.34%
22.80%
22.68%
23.06%
22.09%
22.85%
21.59%
21.52%
Others
21.11%
20.34%
19.97%
19.88%
20.20%
19.63%
15.50%
12.30%
19.77%
13.20%
9.85%
21.83%
10.45%
11.32%
11.53%
9.46%
8.84%
9.64%
9.32%
9.67%
8.19%
6.86%
No. of Shareholders
0
3,495
5,256
6,819
6,739
7,984
9,127
9,400
13,913
22,823
21,116
21,249
24,816
25,292
32,183
35,558
33,993
35,499
35,383
32,827
31,776
31,135

Documents

1
Concall - Aug 2018 Aug 2018
2
Concall - Nov 2018 Nov 2018
3
Concall - Feb 2019 Feb 2019
4
Concall - Jun 2019 Jun 2019
5
Concall - Aug 2019 Aug 2019

Frequently Asked Questions about Stylam Industries Ltd

What does Stylam Industries Ltd do?
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 ...
Where is Stylam Industries Ltd (STYLAMIND) listed?
Stylam Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: STYLAMIND and BSE: 526951. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Stylam Industries Ltd belong to?
Stylam Industries Ltd operates in the Consumer Discretionary sector within the Consumer Durables industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Stylam Industries Ltd?
Stylam Industries Ltd has a market capitalisation of approximately ₹6092.83 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Stylam Industries Ltd?
The Price-to-Earnings (PE) ratio of Stylam Industries Ltd is 37.39. 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 Stylam Industries Ltd?
Over the past 52 weeks, Stylam Industries Ltd has traded between a low of ₹1,594.1 and a high of ₹4,150. This range helps investors understand the stock's price volatility and recent trading levels.
Does Stylam Industries Ltd pay dividends?
Yes, Stylam Industries Ltd has a dividend yield of 0.07%. 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 Stylam Industries Ltd?
Stylam Industries Ltd has a Return on Equity (ROE) of 18.57%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Stylam Industries Ltd on Tapetide?
On Tapetide, you can view Stylam 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

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]

Website stylam.com
CEO Mr. Jagdish Rai Gupta M.D.
Employees 1,146
Listed 2021-08-02
Face Value ₹ 5
Issued Size 1,69,48,060

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