Greenlam Industries Ltd.

•

greenlamindustries.comBSE: 538979NSE: GREENLAM

Market Cap₹ 5,959 Cr.

Current Price

High / Low₹ 279 / 198

Stock P/E64.1

Book Value₹ 47

Price to Book4.43

Dividend Yield0.17 %

ROCE8.4 %

ROE4.9 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Laminate & Allied products: 79.9% • Plywood & Allied Products: 13.1% • Chipboard & Allied Products: 7.0%

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Latest quarter profit grew 235.2% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 20.5% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.65x)
Stock looks reasonably valued - P/E of 64.1 is below its historical median
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 9.7%
Company has a low return on equity of 8.2% over last 3 years
Interest coverage is weak at 1.9x - earnings barely cover interest
Company has delivered a poor profit growth of -5.3% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesConstruction MaterialsLaminates/Decoratives

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	GREENLAM	233.55	64.12	5958.97	0.17	21.24	235.20	796.70	18.24	8.38	10.02
2.	STYLAMIND	3334.20	33.29	5650.82	0.00	48.16	70.35	326.47	15.37	27.05	21.09
3.	EUROPRATIK	250.00	29.65	2555.00	0.08	20.05	115.65	103.33	60.13	53.39	25.79
4.	RUSHIL	16.09	20.72	472.11	0.31	1.98	114.09	229.00	27.82	10.20	7.95
5.	WIPL	169.58	66.02	143.93	0.59	-0.30	-188.24	26.49	-8.69	4.19	-0.23
6.	AIROLAM	84.25	22.93	126.39	0.00	0.25	-91.05	57.93	3.14	7.36	5.66

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
	515	604	563	624	605	681	602	682	674	808	706	858	797
	451	528	492	541	541	599	538	618	630	704	638	749	772
Operating Profit	64	76	71	84	64	81	64	64	44	104	68	108	25
OPM %	12.49%	12.53%	12.63%	13.38%	10.59%	11.96%	10.55%	9.39%	6.54%	12.92%	9.66%	12.62%	3.13%
	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
Profit before Tax	44	53	35	53	27	47	21	11	-14	46	6	52	31
Tax %	24.43%	26.03%	28.72%	23.24%	26.47%	27.10%	41.21%	86.34%	-8.49%	31.11%	110.57%	22.11%	31.33%
Net Profit	0	0	0	0	20	34	13	1	-16	32	-1	41	21
	2.59	3.05	1.98	1.60	0.78	1.35	0.49	0.06	-0.62	1.25	-0.02	1.59	0.83

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,076	1,145	1,281	1,321	1,200	1,703	2,026	2,306	2,569	3,046	3,169
	937	996	1,122	1,142	1,026	1,516	1,793	2,012	2,295	2,721	2,863
Operating Profit	138	149	159	178	173	187	233	295	275	325	306
OPM %	12.86%	13.01%	12.38%	13.50%	14.45%	10.98%	11.49%	12.78%	10.69%	10.67%	9.65%
	3	2	2	4	-5	5	18	22	11	2	6
Interest	29	18	17	22	17	14	23	44	65	96	90
Depreciation	37	36	37	52	56	58	63	87	114	142	142
Profit before Tax	76	97	106	108	96	119	164	185	106	89	135
Tax %	34.34%	33.06%	27.42%	20.00%	23.22%	23.97%	21.69%	25.38%	35.76%	37.25%	30.97%
Net Profit	50	65	77	87	74	91	129	138	68	56	93
EPS	0.00	0.00	0.00	0.00	6.11	7.52	10.23	10.85	2.73	2.21	—
Dividend Payout %	7.29%	9.34%	9.39%	11.14%	16.36%	15.96%	14.80%	15.21%	14.64%	18.14%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 20%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: -5%
3 Years:: -24%

STOCK PRICE CAGR

10 Years:: 13%
5 Years:: 11%
3 Years:: 2%
1 Year:: -6%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 11%
3 Years:: 8%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	12	12	12	12	12	12	13	13	26	26
Minority Interest	0	0	0	0	0	1	0	-0	-2	-0
	286	344	416	489	561	642	945	1,064	1,101	1,154
	300	254	274	347	296	385	614	1,013	1,081	979
Trade Payables	129	158	161	168	223	256	275	348	414	507
	63	56	63	88	79	80	187	288	279	315
Total Liabilities	791	823	927	1,104	1,172	1,376	2,035	2,726	2,899	2,980
	324	331	330	429	413	468	506	984	1,748	1,707
Capital Work in Progress	5	1	19	15	17	8	380	611	28	9
	0	0	0	0	106	161	242	147	56	52
	228	256	308	371	378	503	513	609	665	764
	0	0	0	0	0	0	0	151	155	219
Cash & Bank	8	10	11	31	19	16	16	33	43	64
	226	225	260	258	238	221	378	190	205	165
Total Assets	791	823	927	1,104	1,172	1,376	2,035	2,726	2,899	2,980

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	200	140	99	126	239	104	205	194	210	292
Cash from Investing	-22	-38	-57	-54	-154	-136	-535	-527	-167	-80
Cash from Financing	-160	-69	-6	-22	-71	62	366	350	-34	-191
	3	2	1	20	-12	-3	0	17	10	21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.98	50.98	50.98	50.98	50.98	50.98	50.98	50.98	50.98
	1.77	1.71	1.78	1.77	1.75	1.74	1.74	1.78	1.47
	15.60	15.63	15.72	15.73	15.15	14.60	14.48	13.96	10.89
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.64	31.66	31.52	31.52	32.12	32.68	32.79	33.27	36.64

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

General Updates

2026-09-04 - Greenlam Industries Limited has informed the Exchange about Acquisition in Bhadla Minigrid Solar 4 Private Limited, a special purpose vehicle established for owning and operating a captive power plant.

2026-09-03

Credit Rating- Revision

2026-09-03 - Greenlam Industries Limited has informed the Exchange about Credit Rating- Revision

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - Greenlam Industries Limited has informed the Exchange about Schedule of meet-Outcome

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - Greenlam Industries Limited has informed the Exchange about Schedule of meet

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Greenlam Industries Limited has informed the Exchange about Transcript

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Greenlam Industries Limited has informed the Exchange about Outcome of Investor Meet

2026-08-12

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - Greenlam Industries Limited has informed the Exchange about Outcome of Investor Meet

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Greenlam Industries Limited has informed the Exchange about Link of Recording

2026-08-07

Investor Presentation

2026-08-07 - Greenlam Industries Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for GREENLAM

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Greenlam Industries Ltd.

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Name

GREENLAM

233.55

64.12

5958.97

0.17

21.24

235.20

796.70

18.24

8.38

10.02

STYLAMIND

3334.20

33.29

5650.82

0.00

48.16

70.35

326.47

15.37

27.05

21.09

EUROPRATIK

250.00

29.65

2555.00

0.08

20.05

115.65

103.33

60.13

53.39

25.79

RUSHIL

16.09

20.72

472.11

0.31

1.98

114.09

229.00

27.82

10.20

7.95

WIPL

169.58

66.02

143.93

0.59

-0.30

-188.24

26.49

-8.69

4.19

-0.23

AIROLAM

84.25

22.93

126.39

0.00

0.25

-91.05

57.93

3.14

7.36

5.66

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

515

604

563

624

605

681

602

682

674

808

706

858

797

451

528

492

541

599

538

618

630

704

638

749

772

Operating Profit

104

108

OPM %

12.49%

12.53%

12.63%

13.38%

10.59%

11.96%

10.55%

9.39%

6.54%

12.92%

9.66%

12.62%

3.13%

-4

Interest

Depreciation

Profit before Tax

-14

Tax %

24.43%

26.03%

28.72%

23.24%

26.47%

27.10%

41.21%

86.34%

-8.49%

31.11%

110.57%

22.11%

31.33%

Net Profit

-16

-1

2.59

3.05

1.98

1.60

0.78

1.35

0.49

0.06

-0.62

1.25

-0.02

1.59

0.83

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,076

1,145

1,281

1,321

1,200

1,703

2,026

2,306

2,569

3,046

3,169

937

996

1,122

1,142

1,026

1,516

1,793

2,012

2,295

2,721

2,863

Operating Profit

138

149

159

178

173

187

233

295

275

325

306

OPM %

12.86%

13.01%

12.38%

13.50%

14.45%

10.98%

11.49%

12.78%

10.69%

10.67%

9.65%

-5

Interest

Depreciation

114

142

Profit before Tax

106

108

119

164

185

106

135

Tax %

34.34%

33.06%

27.42%

20.00%

23.22%

23.97%

21.69%

25.38%

35.76%

37.25%

30.97%

Net Profit

129

138

EPS

0.00

6.11

7.52

10.23

10.85

2.73

2.21

—

Dividend Payout %

7.29%

9.34%

9.39%

11.14%

16.36%

15.96%

14.80%

15.21%

14.64%

18.14%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

-0

-2

-0

286

344

416

489

561

642

945

1,064

1,101

1,154

300

254

274

347

296

385

614

1,013

1,081

979

Trade Payables

129

158

161

168

223

256

275

348

414

507

187

288

279

315

Total Liabilities

791

823

927

1,104

1,172

1,376

2,035

2,726

2,899

2,980

324

331

330

429

413

468

506

984

1,748

1,707

Capital Work in Progress

380

611

106

161

242

147

228

256

308

371

378

503

513

609

665

764

151

155

219

Cash & Bank

226

225

260

258

238

221

378

190

205

165

Total Assets

791

823

927

1,104

1,172

1,376

2,035

2,726

2,899

2,980

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

200

140

126

239

104

205

194

210

292

Cash from Investing

-22

-38

-57

-54

-154

-136

-535

-527

-167

-80

Cash from Financing

-160

-69

-6

-22

-71

366

350

-34

-191

-12

-3

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

50.98

1.77

1.71

1.78

1.77

1.75

1.74

1.78

1.47

15.60

15.63

15.72

15.73

15.15

14.60

14.48

13.96

10.89

Government

0.00

31.64

31.66

31.52

32.12

32.68

32.79

33.27

36.64

Greenlam Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Greenlam Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI