Furniture, Furnishing & Paints company Greenlam Industries announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Net revenues reported at Rs 680.8 crore, growth of 12.8% on YoY basis. Overall laminate business grew by 12.4% in value terms and 9.4% in volume terms on YoY basis. EBITDA reported at Rs 81.4 crore, growth of 7.7% on YoY basis. Net Profit reported at Rs 34.4 crore, de-growth of 11.7% on YoY basis, due to higher depreciation and interest related to new projects. Working capital stood at 59 days improvement of 1 day on YoY basis. H1FY25 Financial Highlights: Net revenues reported at Rs 1285.5 crore, growth of 14.9% on YoY basis. Overall laminate business grew by 12.8% in value and 10.6% in volume terms on YoY basis. EBITDA reported at Rs 145.4 crore, growth of 3.9% on YoY basis. Net Profit reported at Rs 54.3 crore, de-growth of 24.5% on YoY basis, due to higher depreciation and interest related to new projects. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said: “In the second quarter of this fiscal year, we have achieved year-on-year growth of 12.8%, bringing total revenues to 680.8 crore despite on ground challenging situation. The growth in revenues was led by both domestic and international businesses. The domestic laminate segment performed well with a value growth of 15.5%, driven by volume increase of 13.8%. International laminate revenue grew by 9.6% in value terms, despite challenges such as container shortages, extended shipment times and higher freight costs. The veneer and allied business remained steady, while our doors segment experienced notable year-on-year growth of 39.0%. The plywood business is also progressing well, and we are now expanding our presence in Maharashtra. Gross margins for the quarter improved by 20 bps on YoY basis, standing at 51.6%, with raw material costs generally stable except for elevated timber prices and freight costs. EBITDA margins declined 50 bps on YoY basis which stood at 12.0% for the quarter, due to higher operating expenses. However, EBITDA in absolute terms grew by 7.7% on YoY basis and stood at 81.4 crore. During the quarter, engineered floor business reported operating profit. Net profit for the quarter stood at INR 34.4 crore, lower by 11.7% on YoY basis mainly on higher depreciation and interest costs related to new projects which commenced commercial production in the last financial year. Our net working capital remained steady at 59 days in Q2FY25, reflecting our sound commercial practices, while net debt stood at Rs 991.8 crore. Additionally, our particle board project in Naidupeta, Andhra Pradesh, is progressing well and is slated to commence commercial production in Q3FY25. Greenlam remains committed to sustainable growth, efficient resource management, and addressing industry challenges to meet our goals. We continue to transform spaces with high-quality products and cutting-edge technology, bringing the latest design trends to our customers ” Result PDF