Greenlam Industries Ltd.

•

₹ 253-1.25%

2026-08-21

greenlamindustries.comBSE: 538979NSE: GREENLAM

Market Cap₹ 6,508 Cr.

Current Price₹ 256

High / Low₹ 279 / 198

Stock P/E0.0

Book Value₹ 51

Price to Book4.12

Dividend Yield0.16 %

ROCE13.4 %

ROE11.5 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Laminate & Allied products: 83.5% • Plywood & Allied Products: 16.5%

PROS

Company has delivered good sales growth of 16.5% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.83x)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Receivables are growing faster than sales - a possible quality concern
Contingent liabilities are large at 72.2% of net worth
Though reporting repeated profits, the company pays out little dividend (7.4%)
Expensive relative to growth - PEG of 8.1
Growth is decelerating - 3Y profit CAGR (4.7%) trails the 5Y trend (15.7%)

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

Peer comparison

EDIT COLUMNS

Consumer DurablesConstruction MaterialsLaminates/Decoratives

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	GREENLAM	255.05	70.03	6507.54	0.16	21.24	235.20	796.70	18.24	8.38	10.02
2.	STYLAMIND	3657.45	36.51	6198.67	0.00	48.16	70.35	326.47	15.37	27.05	21.09
3.	EUROPRATIK	267.60	31.73	2734.87	0.07	20.05	115.65	103.33	60.13	53.39	25.79
4.	RUSHIL	17.25	22.21	506.14	0.29	1.98	114.09	229.00	27.82	10.20	7.95
5.	WIPL	168.98	0.00	143.42	0.59	-0.30	-188.24	26.49	-8.69	8.51	-0.23
6.	AIROLAM	88.50	24.08	132.77	0.00	0.25	-91.05	57.93	3.14	7.36	5.66

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	469	566	517	571	526	586	535	560	557	653	549	655	584
	413	500	448	497	468	518	474	497	499	565	498	572	557
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	4	6	7	18	3	5	3	18	6	4	12	6	3
Interest	7	9	11	10	10	12	12	12	11	10	10	10	10
Depreciation	16	18	19	20	20	21	21	20	20	20	20	19	19
	37	44	46	62	30	41	30	50	33	61	27	59	30
Tax %	24.56%	25.61%	23.90%	18.91%	23.26%	26.52%	36.13%	21.39%	25.01%	25.37%	25.96%	19.04%	25.29%
Net Profit	28	33	35	50	23	30	19	40	25	46	20	48	23
	2	3	3	2	1	1	1	2	1	2	1	2	0
Equity Capital	13	13	13	26	26	26	26	26	26	26	26	26	26
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	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%
Equity Capital	13	13	13	26	26	26	26	26	26	26	26	26	26
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	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%

Jun 2023

: 469
: 413
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 7
Depreciation: 16
: 37
Tax %: 24.56%
Net Profit: 28
: 2
Equity Capital: 13
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 13
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 566
: 500
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 9
Depreciation: 18
: 44
Tax %: 25.61%
Net Profit: 33
: 3
Equity Capital: 13
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 13
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 517
: 448
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 11
Depreciation: 19
: 46
Tax %: 23.90%
Net Profit: 35
: 3
Equity Capital: 13
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 13
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 571
: 497
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 10
Depreciation: 20
: 62
Tax %: 18.91%
Net Profit: 50
: 2
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 526
: 468
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 10
Depreciation: 20
: 30
Tax %: 23.26%
Net Profit: 23
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 586
: 518
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 12
Depreciation: 21
: 41
Tax %: 26.52%
Net Profit: 30
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 535
: 474
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 12
Depreciation: 21
: 30
Tax %: 36.13%
Net Profit: 19
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 560
: 497
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 12
Depreciation: 20
: 50
Tax %: 21.39%
Net Profit: 40
: 2
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 557
: 499
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 11
Depreciation: 20
: 33
Tax %: 25.01%
Net Profit: 25
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 653
: 565
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 10
Depreciation: 20
: 61
Tax %: 25.37%
Net Profit: 46
: 2
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 549
: 498
Operating Profit: —
OPM %: —
Other Income: 12
Interest: 10
Depreciation: 20
: 27
Tax %: 25.96%
Net Profit: 20
: 1
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 655
: 572
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 10
Depreciation: 19
: 59
Tax %: 19.04%
Net Profit: 48
: 2
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 584
: 557
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 10
Depreciation: 19
: 30
Tax %: 25.29%
Net Profit: 23
: 0
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 26
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	970	1,061	1,196	1,227	1,126	1,559	1,851	2,124	2,207	2,415	2,442
	846	924	1,058	1,066	962	1,397	1,656	1,858	1,956	2,135	2,192
Operating Profit	126	139	141	184	167	180	229	299	280	308	—
OPM %	13	13	12	15	15	12	12	14	13	13	—
Other Income	2	2	2	23	4	17	34	34	30	28	25
Interest	25	16	15	20	16	13	23	37	46	42	41
Depreciation	33	33	34	49	52	54	58	74	82	80	79
	67	90	91	114	87	110	148	189	152	181	178
Tax %	36	34	29	19	23	22	18	23	26	23	23
Net Profit	43	59	65	93	67	85	121	146	113	139	136
EPS	0	0	0	0	6	7	10	11	4	5	—
Dividend Payout %	8	10	11	10	18	17	16	14	9	7	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	2	3	4	3	4	5	6	4	5	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	2	3	4	3	4	5	6	4	5	—

Mar 2017

: 970
: 846
Operating Profit: 126
OPM %: 13
Other Income: 2
Interest: 25
Depreciation: 33
: 67
Tax %: 36
Net Profit: 43
EPS: 0
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2018

: 1,061
: 924
Operating Profit: 139
OPM %: 13
Other Income: 2
Interest: 16
Depreciation: 33
: 90
Tax %: 34
Net Profit: 59
EPS: 0
Dividend Payout %: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2019

: 1,196
: 1,058
Operating Profit: 141
OPM %: 12
Other Income: 2
Interest: 15
Depreciation: 34
: 91
Tax %: 29
Net Profit: 65
EPS: 0
Dividend Payout %: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2020

: 1,227
: 1,066
Operating Profit: 184
OPM %: 15
Other Income: 23
Interest: 20
Depreciation: 49
: 114
Tax %: 19
Net Profit: 93
EPS: 0
Dividend Payout %: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2021

: 1,126
: 962
Operating Profit: 167
OPM %: 15
Other Income: 4
Interest: 16
Depreciation: 52
: 87
Tax %: 23
Net Profit: 67
EPS: 6
Dividend Payout %: 18
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2022

: 1,559
: 1,397
Operating Profit: 180
OPM %: 12
Other Income: 17
Interest: 13
Depreciation: 54
: 110
Tax %: 22
Net Profit: 85
EPS: 7
Dividend Payout %: 17
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2023

: 1,851
: 1,656
Operating Profit: 229
OPM %: 12
Other Income: 34
Interest: 23
Depreciation: 58
: 148
Tax %: 18
Net Profit: 121
EPS: 10
Dividend Payout %: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2024

: 2,124
: 1,858
Operating Profit: 299
OPM %: 14
Other Income: 34
Interest: 37
Depreciation: 74
: 189
Tax %: 23
Net Profit: 146
EPS: 11
Dividend Payout %: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2025

: 2,207
: 1,956
Operating Profit: 280
OPM %: 13
Other Income: 30
Interest: 46
Depreciation: 82
: 152
Tax %: 26
Net Profit: 113
EPS: 4
Dividend Payout %: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2026

: 2,415
: 2,135
Operating Profit: 308
OPM %: 13
Other Income: 28
Interest: 42
Depreciation: 80
: 181
Tax %: 23
Net Profit: 139
EPS: 5
Dividend Payout %: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

TTM

: 2,442
: 2,192
Operating Profit: —
OPM %: —
Other Income: 25
Interest: 41
Depreciation: 79
: 178
Tax %: 23
Net Profit: 136
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 16%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: 13%
5 Years:: 16%
3 Years:: 5%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: 14%
3 Years:: 3%
1 Year:: 15%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 13%
3 Years:: 12%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	12	12	12	12	12	12	13	13	26	26
	292	346	404	479	546	620	908	1,034	1,112	1,242
	143	123	165	168	142	169	206	264	222	163
Trade Payables	124	154	152	158	215	242	254	303	339	410
	159	138	139	216	201	266	348	362	429	498
Total Liabilities	730	773	873	1,033	1,117	1,309	1,729	1,975	2,127	2,338
ASSETS	-	-	-	-	-	-	-	-	-	-
	312	321	323	411	399	393	443	619	592	560
Capital Work in Progress	5	1	19	14	16	3	124	34	16	7
	24	24	24	71	177	287	488	575	762	956
	206	241	288	333	331	445	452	479	482	496
	0	0	0	0	0	0	0	153	148	214
Cash & Bank	5	6	6	25	11	9	7	18	20	22
	177	179	213	179	183	172	214	97	106	83
Total Assets	730	773	873	1,033	1,117	1,309	1,729	1,975	2,127	2,338
Total Debt	238	204	238	250	222	323	401	420	458	474
Net Working Capital	73	109	134	154	206	306	312	172	113	104
Contingent Liabilities	182	121	95	97	114	79	915	798	857	915
Book Value per Share	125.95	148.24	172.43	203.27	231.35	52.36	72.50	82.00	44.57	49.69
Face Value	5.00	5.00	5.00	5.00	5.00	1.00	1.00	1.00	1.00	1.00
Total Debt	238	204	238	250	222	323	401	420	458	474
Net Working Capital	73	109	134	154	206	306	312	172	113	104
Contingent Liabilities	182	121	95	97	114	79	915	798	857	915
Book Value per Share	125.95	148.24	172.43	203.27	231.35	52.36	72.50	82.00	44.57	49.69
Face Value	5.00	5.00	5.00	5.00	5.00	1.00	1.00	1.00	1.00	1.00

Mar 2017

Equity Capital: 12
: 292
: 143
Trade Payables: 124
: 159
Total Liabilities: 730
: 312
Capital Work in Progress: 5
: 24
: 206
: 0
Cash & Bank: 5
: 177
Total Assets: 730
Total Debt: 238
Net Working Capital: 73
Contingent Liabilities: 182
Book Value per Share: 125.95
Face Value: 5.00
Total Debt: 238
Net Working Capital: 73
Contingent Liabilities: 182
Book Value per Share: 125.95
Face Value: 5.00

Mar 2018

Equity Capital: 12
: 346
: 123
Trade Payables: 154
: 138
Total Liabilities: 773
: 321
Capital Work in Progress: 1
: 24
: 241
: 0
Cash & Bank: 6
: 179
Total Assets: 773
Total Debt: 204
Net Working Capital: 109
Contingent Liabilities: 121
Book Value per Share: 148.24
Face Value: 5.00
Total Debt: 204
Net Working Capital: 109
Contingent Liabilities: 121
Book Value per Share: 148.24
Face Value: 5.00

Mar 2019

Equity Capital: 12
: 404
: 165
Trade Payables: 152
: 139
Total Liabilities: 873
: 323
Capital Work in Progress: 19
: 24
: 288
: 0
Cash & Bank: 6
: 213
Total Assets: 873
Total Debt: 238
Net Working Capital: 134
Contingent Liabilities: 95
Book Value per Share: 172.43
Face Value: 5.00
Total Debt: 238
Net Working Capital: 134
Contingent Liabilities: 95
Book Value per Share: 172.43
Face Value: 5.00

Mar 2020

Equity Capital: 12
: 479
: 168
Trade Payables: 158
: 216
Total Liabilities: 1,033
: 411
Capital Work in Progress: 14
: 71
: 333
: 0
Cash & Bank: 25
: 179
Total Assets: 1,033
Total Debt: 250
Net Working Capital: 154
Contingent Liabilities: 97
Book Value per Share: 203.27
Face Value: 5.00
Total Debt: 250
Net Working Capital: 154
Contingent Liabilities: 97
Book Value per Share: 203.27
Face Value: 5.00

Mar 2021

Equity Capital: 12
: 546
: 142
Trade Payables: 215
: 201
Total Liabilities: 1,117
: 399
Capital Work in Progress: 16
: 177
: 331
: 0
Cash & Bank: 11
: 183
Total Assets: 1,117
Total Debt: 222
Net Working Capital: 206
Contingent Liabilities: 114
Book Value per Share: 231.35
Face Value: 5.00
Total Debt: 222
Net Working Capital: 206
Contingent Liabilities: 114
Book Value per Share: 231.35
Face Value: 5.00

Mar 2022

Equity Capital: 12
: 620
: 169
Trade Payables: 242
: 266
Total Liabilities: 1,309
: 393
Capital Work in Progress: 3
: 287
: 445
: 0
Cash & Bank: 9
: 172
Total Assets: 1,309
Total Debt: 323
Net Working Capital: 306
Contingent Liabilities: 79
Book Value per Share: 52.36
Face Value: 1.00
Total Debt: 323
Net Working Capital: 306
Contingent Liabilities: 79
Book Value per Share: 52.36
Face Value: 1.00

Mar 2023

Equity Capital: 13
: 908
: 206
Trade Payables: 254
: 348
Total Liabilities: 1,729
: 443
Capital Work in Progress: 124
: 488
: 452
: 0
Cash & Bank: 7
: 214
Total Assets: 1,729
Total Debt: 401
Net Working Capital: 312
Contingent Liabilities: 915
Book Value per Share: 72.50
Face Value: 1.00
Total Debt: 401
Net Working Capital: 312
Contingent Liabilities: 915
Book Value per Share: 72.50
Face Value: 1.00

Mar 2024

Equity Capital: 13
: 1,034
: 264
Trade Payables: 303
: 362
Total Liabilities: 1,975
: 619
Capital Work in Progress: 34
: 575
: 479
: 153
Cash & Bank: 18
: 97
Total Assets: 1,975
Total Debt: 420
Net Working Capital: 172
Contingent Liabilities: 798
Book Value per Share: 82.00
Face Value: 1.00
Total Debt: 420
Net Working Capital: 172
Contingent Liabilities: 798
Book Value per Share: 82.00
Face Value: 1.00

Mar 2025

Equity Capital: 26
: 1,112
: 222
Trade Payables: 339
: 429
Total Liabilities: 2,127
: 592
Capital Work in Progress: 16
: 762
: 482
: 148
Cash & Bank: 20
: 106
Total Assets: 2,127
Total Debt: 458
Net Working Capital: 113
Contingent Liabilities: 857
Book Value per Share: 44.57
Face Value: 1.00
Total Debt: 458
Net Working Capital: 113
Contingent Liabilities: 857
Book Value per Share: 44.57
Face Value: 1.00

Mar 2026

Equity Capital: 26
: 1,242
: 163
Trade Payables: 410
: 498
Total Liabilities: 2,338
: 560
Capital Work in Progress: 7
: 956
: 496
: 214
Cash & Bank: 22
: 83
Total Assets: 2,338
Total Debt: 474
Net Working Capital: 104
Contingent Liabilities: 915
Book Value per Share: 49.69
Face Value: 1.00
Total Debt: 474
Net Working Capital: 104
Contingent Liabilities: 915
Book Value per Share: 49.69
Face Value: 1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	124	92	46	129	190	51	154	218	243	267
Cash from Investing	-14	-37	-56	-79	-154	-122	-383	-160	-197	-212
Cash from Financing	-106	-55	11	-30	-50	69	227	-47	-45	-53
	4	0	1	19	-14	-2	-2	11	2	2
Free Cash Flow	118	56	-5	2	156	20	-70	74	211	243
OCF / Net Profit	2.90	1.55	0.71	1.39	2.84	0.60	1.28	1.49	2.16	1.93
Cumulative 5-Year FCF	0	0	0	0	327	229	102	180	390	477
OCF / Net Profit	2.90	1.55	0.71	1.39	2.84	0.60	1.28	1.49	2.16	1.93
Cumulative 5-Year FCF	0	0	0	0	327	229	102	180	390	477

Mar 2017

: 124
Cash from Investing: -14
Cash from Financing: -106
: 4
Free Cash Flow: 118
OCF / Net Profit: 2.90
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.90
Cumulative 5-Year FCF: 0

Mar 2018

: 92
Cash from Investing: -37
Cash from Financing: -55
: 0
Free Cash Flow: 56
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0

Mar 2019

: 46
Cash from Investing: -56
Cash from Financing: 11
: 1
Free Cash Flow: -5
OCF / Net Profit: 0.71
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.71
Cumulative 5-Year FCF: 0

Mar 2020

: 129
Cash from Investing: -79
Cash from Financing: -30
: 19
Free Cash Flow: 2
OCF / Net Profit: 1.39
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.39
Cumulative 5-Year FCF: 0

Mar 2021

: 190
Cash from Investing: -154
Cash from Financing: -50
: -14
Free Cash Flow: 156
OCF / Net Profit: 2.84
Cumulative 5-Year FCF: 327
OCF / Net Profit: 2.84
Cumulative 5-Year FCF: 327

Mar 2022

: 51
Cash from Investing: -122
Cash from Financing: 69
: -2
Free Cash Flow: 20
OCF / Net Profit: 0.60
Cumulative 5-Year FCF: 229
OCF / Net Profit: 0.60
Cumulative 5-Year FCF: 229

Mar 2023

: 154
Cash from Investing: -383
Cash from Financing: 227
: -2
Free Cash Flow: -70
OCF / Net Profit: 1.28
Cumulative 5-Year FCF: 102
OCF / Net Profit: 1.28
Cumulative 5-Year FCF: 102

Mar 2024

: 218
Cash from Investing: -160
Cash from Financing: -47
: 11
Free Cash Flow: 74
OCF / Net Profit: 1.49
Cumulative 5-Year FCF: 180
OCF / Net Profit: 1.49
Cumulative 5-Year FCF: 180

Mar 2025

: 243
Cash from Investing: -197
Cash from Financing: -45
: 2
Free Cash Flow: 211
OCF / Net Profit: 2.16
Cumulative 5-Year FCF: 390
OCF / Net Profit: 2.16
Cumulative 5-Year FCF: 390

Mar 2026

: 267
Cash from Investing: -212
Cash from Financing: -53
: 2
Free Cash Flow: 243
OCF / Net Profit: 1.93
Cumulative 5-Year FCF: 477
OCF / Net Profit: 1.93
Cumulative 5-Year FCF: 477

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	17.74	24.53	26.96	38.38	27.70	7.07	9.52	11.43	4.41	5.43
Book Value (₹)	125.95	148.24	172.43	203.27	231.35	52.36	72.50	82.00	44.57	49.69
Dividend per Share (₹)	1.50	2.50	3.00	4.00	5.00	1.20	1.50	1.65	0.40	0.40
Cash EPS (₹)	3.16	3.82	4.11	5.87	4.92	5.79	7.06	8.60	7.62	8.55
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	12.42%	12.95%	11.76%	14.96%	14.86%	11.54%	12.27%	12.39%	11.25%	11.52%
Net Margin %	4.23%	5.52%	5.44%	7.55%	5.94%	5.47%	6.47%	6.81%	5.06%	5.69%
ROE %	15.06%	17.89%	16.82%	20.43%	12.75%	14.34%	15.57%	14.83%	10.31%	11.53%
ROCE %	17.37%	19.14%	17.53%	19.30%	13.55%	14.18%	15.01%	16.21%	12.99%	13.37%
	5.72%	7.88%	7.91%	9.72%	6.22%	7.04%	7.96%	7.88%	5.49%	6.21%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	44	43	42	39	42	31	24	24	25	27
Inventory Days	75	76	81	92	108	91	88	79	79	73
Payable Days	104	87	81	85	113	92	88	95	105	114
	15	33	41	46	36	29	24	8	-2	-14
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.78x	0.57x	0.57x	0.51x	0.40x	0.51x	0.44x	0.40x	0.40x	0.37x
Interest Coverage (x)	3.62x	6.61x	6.89x	6.63x	6.43x	9.13x	7.46x	6.12x	4.28x	5.27x
	1.25x	1.37x	1.39x	1.41x	1.50x	1.66x	1.57x	1.24x	1.17x	1.14x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	3.59%	9.32%	12.75%	2.61%	-8.24%	38.46%	18.72%	14.72%	3.93%	9.44%
Operating Profit Growth %	0.58%	10.50%	1.34%	30.56%	-8.85%	7.57%	27.39%	30.58%	-6.32%	9.91%
Net Profit Growth %	6.13%	38.28%	9.94%	42.32%	-27.83%	27.70%	41.63%	20.66%	-22.81%	23.12%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.09%	-61.39%	23.12%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	21.91x	53.55x	37.66x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.11x	5.30x	4.12x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.33%	0.17%	0.20%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	22.69x	23.06x	18.40x

Mar 2017

EPS (₹): 17.74
Book Value (₹): 125.95
Dividend per Share (₹): 1.50
Cash EPS (₹): 3.16
Operating Margin %: 12.42%
Net Margin %: 4.23%
ROE %: 15.06%
ROCE %: 17.37%
: 5.72%
Debtor Days: 44
Inventory Days: 75
Payable Days: 104
: 15
Debt to Equity (x): 0.78x
Interest Coverage (x): 3.62x
: 1.25x
Revenue Growth %: 3.59%
Operating Profit Growth %: 0.58%
Net Profit Growth %: 6.13%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 24.53
Book Value (₹): 148.24
Dividend per Share (₹): 2.50
Cash EPS (₹): 3.82
Operating Margin %: 12.95%
Net Margin %: 5.52%
ROE %: 17.89%
ROCE %: 19.14%
: 7.88%
Debtor Days: 43
Inventory Days: 76
Payable Days: 87
: 33
Debt to Equity (x): 0.57x
Interest Coverage (x): 6.61x
: 1.37x
Revenue Growth %: 9.32%
Operating Profit Growth %: 10.50%
Net Profit Growth %: 38.28%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 26.96
Book Value (₹): 172.43
Dividend per Share (₹): 3.00
Cash EPS (₹): 4.11
Operating Margin %: 11.76%
Net Margin %: 5.44%
ROE %: 16.82%
ROCE %: 17.53%
: 7.91%
Debtor Days: 42
Inventory Days: 81
Payable Days: 81
: 41
Debt to Equity (x): 0.57x
Interest Coverage (x): 6.89x
: 1.39x
Revenue Growth %: 12.75%
Operating Profit Growth %: 1.34%
Net Profit Growth %: 9.94%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 38.38
Book Value (₹): 203.27
Dividend per Share (₹): 4.00
Cash EPS (₹): 5.87
Operating Margin %: 14.96%
Net Margin %: 7.55%
ROE %: 20.43%
ROCE %: 19.30%
: 9.72%
Debtor Days: 39
Inventory Days: 92
Payable Days: 85
: 46
Debt to Equity (x): 0.51x
Interest Coverage (x): 6.63x
: 1.41x
Revenue Growth %: 2.61%
Operating Profit Growth %: 30.56%
Net Profit Growth %: 42.32%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 27.70
Book Value (₹): 231.35
Dividend per Share (₹): 5.00
Cash EPS (₹): 4.92
Operating Margin %: 14.86%
Net Margin %: 5.94%
ROE %: 12.75%
ROCE %: 13.55%
: 6.22%
Debtor Days: 42
Inventory Days: 108
Payable Days: 113
: 36
Debt to Equity (x): 0.40x
Interest Coverage (x): 6.43x
: 1.50x
Revenue Growth %: -8.24%
Operating Profit Growth %: -8.85%
Net Profit Growth %: -27.83%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 7.07
Book Value (₹): 52.36
Dividend per Share (₹): 1.20
Cash EPS (₹): 5.79
Operating Margin %: 11.54%
Net Margin %: 5.47%
ROE %: 14.34%
ROCE %: 14.18%
: 7.04%
Debtor Days: 31
Inventory Days: 91
Payable Days: 92
: 29
Debt to Equity (x): 0.51x
Interest Coverage (x): 9.13x
: 1.66x
Revenue Growth %: 38.46%
Operating Profit Growth %: 7.57%
Net Profit Growth %: 27.70%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 9.52
Book Value (₹): 72.50
Dividend per Share (₹): 1.50
Cash EPS (₹): 7.06
Operating Margin %: 12.27%
Net Margin %: 6.47%
ROE %: 15.57%
ROCE %: 15.01%
: 7.96%
Debtor Days: 24
Inventory Days: 88
Payable Days: 88
: 24
Debt to Equity (x): 0.44x
Interest Coverage (x): 7.46x
: 1.57x
Revenue Growth %: 18.72%
Operating Profit Growth %: 27.39%
Net Profit Growth %: 41.63%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 11.43
Book Value (₹): 82.00
Dividend per Share (₹): 1.65
Cash EPS (₹): 8.60
Operating Margin %: 12.39%
Net Margin %: 6.81%
ROE %: 14.83%
ROCE %: 16.21%
: 7.88%
Debtor Days: 24
Inventory Days: 79
Payable Days: 95
: 8
Debt to Equity (x): 0.40x
Interest Coverage (x): 6.12x
: 1.24x
Revenue Growth %: 14.72%
Operating Profit Growth %: 30.58%
Net Profit Growth %: 20.66%
: 20.09%
P/E (x): 21.91x
P/B (x): 6.11x
Dividend Yield %: 0.33%
: 22.69x

Mar 2025

EPS (₹): 4.41
Book Value (₹): 44.57
Dividend per Share (₹): 0.40
Cash EPS (₹): 7.62
Operating Margin %: 11.25%
Net Margin %: 5.06%
ROE %: 10.31%
ROCE %: 12.99%
: 5.49%
Debtor Days: 25
Inventory Days: 79
Payable Days: 105
: -2
Debt to Equity (x): 0.40x
Interest Coverage (x): 4.28x
: 1.17x
Revenue Growth %: 3.93%
Operating Profit Growth %: -6.32%
Net Profit Growth %: -22.81%
: -61.39%
P/E (x): 53.55x
P/B (x): 5.30x
Dividend Yield %: 0.17%
: 23.06x

Mar 2026

EPS (₹): 5.43
Book Value (₹): 49.69
Dividend per Share (₹): 0.40
Cash EPS (₹): 8.55
Operating Margin %: 11.52%
Net Margin %: 5.69%
ROE %: 11.53%
ROCE %: 13.37%
: 6.21%
Debtor Days: 27
Inventory Days: 73
Payable Days: 114
: -14
Debt to Equity (x): 0.37x
Interest Coverage (x): 5.27x
: 1.14x
Revenue Growth %: 9.44%
Operating Profit Growth %: 9.91%
Net Profit Growth %: 23.12%
: 23.12%
P/E (x): 37.66x
P/B (x): 4.12x
Dividend Yield %: 0.20%
: 18.40x

Shareholding Pattern

Numbers in percentages

TRADES

	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

Jun 2024

: 50.98
: 1.77
: 15.60
Government: 0.00
: 31.64

Sep 2024

: 50.98
: 1.71
: 15.63
Government: 0.00
: 31.66

Dec 2024

: 50.98
: 1.78
: 15.72
Government: 0.00
: 31.52

Mar 2025

: 50.98
: 1.77
: 15.73
Government: 0.00
: 31.52

Jun 2025

: 50.98
: 1.75
: 15.15
Government: 0.00
: 32.12

Sep 2025

: 50.98
: 1.74
: 14.60
Government: 0.00
: 32.68

Dec 2025

: 50.98
: 1.74
: 14.48
Government: 0.00
: 32.79

Mar 2026

: 50.98
: 1.78
: 13.96
Government: 0.00
: 33.27

Jun 2026

: 50.98
: 1.47
: 10.89
Government: 0.00
: 36.64

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - Greenlam Industries Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-13 - Greenlam Industries Limited has informed the Exchange about Outcome of Investor Meet

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
Transcript PPTREC
Jun 2026
TranscriptPPTREC
May 2026
TranscriptPPTREC