Greenlam Industries Limited submitted an investor presentation detailing its financial results for the quarter ended June 30, 2026 (Q1FY27).

Financial Performance Overview

  • Revenue for Q1FY27 stood at ₹796.7 crore, representing an 18.2% year-on-year (YoY) growth.
  • Gross profit was ₹421.4 crore, growing 17.9% YoY. Gross margin declined slightly by 20 basis points to 52.9%.
  • EBITDA before forex fluctuations was ₹81.1 crore, showing strong growth of 48.2% YoY. EBITDA margin expanded by 210 basis points to 10.2%.
  • After accounting for a forex loss of ₹1.3 crore, EBITDA with forex impact was ₹79.8 crore.
  • Net profit for the quarter was ₹21.2 crore, a significant improvement from a net loss of ₹15.7 crore in Q1FY26.
  • The company reported other income of ₹6.0 crore, depreciation of ₹35.4 crore, and interest expense of ₹19.5 crore.
  • Profit before tax (PBT) was ₹30.9 crore with a PBT margin of 3.9%, and tax expense was ₹9.7 crore.

Segment-wise Performance

Laminates & Allied Segment:

  • Revenue: ₹596.1 crore (7.4% YoY growth, -9.5% quarter-on-quarter)
  • Gross margin: ₹329.5 crore (55.3% margin, +70 bps YoY)
  • EBITDA without forex: ₹82.9 crore (13.9% margin, +70 bps YoY)
  • EBITDA with forex: ₹79.7 crore (13.4% margin)
  • Capital employed: ₹860 crore
  • Production: 4.90 million sheets (-4.9% YoY)
  • Sales: 4.62 million sheets (-6.4% YoY)
  • Average realization: ₹1,240 per sheet (+13.6% YoY)
  • Annual installed capacity: 24.52 million sheets
  • Capacity utilization: 80% (annualized)

Plywood & Allied Segment (Plywood, Veneers, Floors, Doors):

  • Revenue: ₹50.7 crore (25.0% YoY growth, -6.0% QoQ)
  • Gross margin: ₹47.9 crore (47.9% margin, +180 bps YoY)
  • EBITDA without forex: -₹5.2 crore (improved from -₹8.6 crore YoY)
  • EBITDA with forex: -₹5.1 crore
  • Capital employed: ₹320 crore
  • Plywood production: 1.83 million sqmt (+36.2% YoY)
  • Plywood sales: 1.66 million sqmt (+19.0% YoY)
  • Average realization: ₹276 per sqmt (+3.8% YoY)
  • Annual installed capacity: 18.90 million sqmt
  • Capacity utilization: 39% (annualized)

Panel & Allied Segment (Chipboards):

  • Revenue: ₹94.6 crore (205.2% YoY growth, +18.5% QoQ)
  • Gross margin: ₹41.1 crore (43.4% margin, -150 bps YoY)
  • EBITDA without forex: ₹3.4 crore (turned positive from -₹9.8 crore YoY)
  • EBITDA with forex: ₹5.3 crore
  • Capital employed: ₹764 crore
  • This segment turned EBITDA positive in the current quarter

Operational Highlights

  • Geopolitical turbulence in the Middle East caused fluctuations in crude prices and foreign currency rates
  • Substantial increase in freight costs and delays in container/vessel availability resulted in postponement of exports worth approximately ₹27 crore
  • Working capital days improved by 3 days to 56 days on YoY basis
  • Inventory: ₹807.0 crore (92 days)
  • Trade receivables: ₹213.4 crore (24 days)
  • Trade payables: ₹526.8 crore (60 days)
  • Net working capital: ₹493.6 crore

Debt Position

  • Long-term debt (including current portion): ₹847.6 crore
  • Short-term debt: ₹164.6 crore
  • Total debt: ₹1,012.2 crore (prior to IndAS adjustment of ₹9.33 crore)
  • Cash & liquid investments: ₹78.5 crore
  • Net debt: ₹933.7 crore (compared to ₹941.2 crore in FY26)

Return Ratios

  • EBIT: ₹50.4 crore
  • PAT: ₹21.2 crore
  • Capital employed: ₹2,205.4 crore
  • Net worth: ₹1,199.4 crore
  • ROCE: 9.1%
  • ROE: 7.1%

Manufacturing and Capacity

The company has manufacturing facilities at:

  • Tindivanam, Tamil Nadu
  • Naidupeta, Andhra Pradesh
  • Prantij, Gujarat
  • Behror, Rajasthan
  • Nalagarh, Himachal Pradesh

The Naidupeta facility features multiple product categories under one roof (laminates, compacts, particle boards, pre-laminated particle boards), fully automated continuous particle board plant, and certifications including GREENGAURD GOLD, FSC®, ISO, PEFC, CARB.

ESG Initiatives

  • Renewable electricity capacity increased from 1 MW to 11 MW
  • Efficiency initiatives delivered 355 TJ of annual energy savings
  • Scope 1 & 2 intensity down 3% in laminates and 16% in plywood over FY25
  • 64 million liters of water saved over 5 years via intensity reduction
  • 6.8 million saplings planted across 5,800 acres
  • TRIR (Total Recordable Injury Rate) of 1.0 across manufacturing units
  • 1,000+ trainings covering 92% of permanent and contract workmen

Corporate History Highlights

The presentation included a timeline of company milestones from 1992-93 to 2024-25, including establishment of first laminate unit, overseas subsidiaries, acquisitions, capacity expansions, and the maiden bonus issue of 1:1 in 2024-25.