Furniture company Greenlam Industries announced Q1FY26 results Consolidated net revenues from operations witnessed a growth of 11.4%, at Rs 673.8 crore, as compared to Rs 604.7 crore in Q1FY25. The domestic business witnessed a growth of 22.2% led by all the categories including chipboard. The operating profits, before net forex fluctuations of Rs 10.6 crore, reported at Rs 54.7 crore as compared to Rs 64.0 crore in Q1FY25. Reported a net loss of Rs 15.7 crore for the current quarter. Saurabh Mittal, Managing Director & Chief Executive Officer, Greenlam Industries, said: "The Q1FY26 has started on a strong note, with continued momentum and a decent revenue growth of 11.4% YoY. Traditionally, a leaner period compared to the preceding quarter, Q1FY26 stood out with revenue nearly at par with Q4FY25. Our domestic business grew by 22.2% YoY, driven by healthy performance across all segments including chipboard, which had its first full quarter of operations. While our international business remained flat, we see steady traction ahead. Gross margins improved by 110 basis points and stood at 53.1%, supported by broadly stable raw material costs and a welcome softening in timber prices. Operating profits, before accounting for net forex fluctuations of Rs 10.6 crore, stood at Rs 54.7 crore lower by 14.5% largely due to the initial operating losses in our chipboard business as capacity ramp-up is still underway. Consequently, EBITDA margins came in at 8.1%, lower by 250 bps. We reported a net loss of Rs 15.7 crore for the quarter, attributed primarily to notional loss of Rs 18.8 crore account of EUR denominated loan for chipboard project due to adverse movement of EURINR during the quarter and higher interest costs and depreciation from the chipboard division, which operated fully for the first time this quarter and. However, our net working capital discipline remains intact, with Q1FY26 at 59 days versus 65 days in Q1FY25, reflecting our consistent operational prudence even amidst recent capacity expansions. Net debt stood at Rs 1039.6 crore at quarter end. We have successfully stabilised the chipboard production lines, and the product both plain and prelaminated is receiving positive feedback from the market. Encouragingly, our efforts to explore export opportunities in this segment have also begun to show results. Last quarter, we took a strategic step by transitioning our Decowood Veneers brand to Mikasa Decowood Veneers, unifying our wood panel offerings plywood, veneers, flooring, and doors under the trusted 'Mikasa' brand family. This consolidation strengthens our market position and enables us to offer a holistic, lifestyle-driven product ecosystem to customers globally At Greenlam, our unwavering focus is on delivering excellence through innovation. We remain committed to introducing technologically advanced, industry-first products that empower our customers to create more inspiring and elevated spaces." Result PDF
Furniture-Furnishing company Greenlam Industries announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Net revenues reported at Rs 681.8 crore, growth of 9.2% on YoY basis Laminate business grew by 7.2% in value and de-growth by 5.7% in volume terms on YoY basis Plywood business grew by 46.9% in value terms on YoY basis EBIDTA reported at Rs 64.0 crore, de-growth of 23.4% on YoY basis Net Profit reported at Rs 1.5 crore, de-growth of 96.3% on YoY basis Working capital stood at 55 days which is lower by 1 day on YoY basis FY25 Financial Highlights: Net revenues reported at Rs 2,569.3 crore, growth of 11.4% on YoY basis Laminate business grew by 9.2% in value and 4.1% in volume terms on YoY basis Plywood business grew by 111.7% in value terms on YoY basis EBIDTA reported at Rs 274.6 crore, de-growth of 6.8% on YoY basis Net Profit reported at Rs 68.3 crore, de-growth of 50.5% on YoY basis Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries said," We continue to make steady progress across our core businesses, with overall revenue witnessing a reasonable growth of 9.2% during the quarter. This is despite challenging operating environment. Our laminate segment performed well, led by momentum in international markets, reaffirming our strategic focus on global expansion. The performance of our engineered doors and Plywood businesses also remained encouraging with growth of 46.5% and 46.9% on a year-onyear basis respectively. While decorative veneer and engineered flooring remained subdued with degrowth during the quarter. However, we remain confident in their long-term potential. Gross margin in absolute terms increased by 4.5%; however, gross margin percentage declined by 230 basis points to 50.7%, due to lower production as compared to sales. EBITDA for the quarter stood at 64.0 crore, impacted by lower gross margins, adverse forex fluctuation and higher operating costs as the company continues to invest in expanding its international footprint. The engineered doors segment delivered an operating profit during the quarter, with a positive outlook for sustained growth. The plywood division also reported improved operating performance, both on a year-on-year and sequential basis. Profit After Tax (PAT) for the quarter stood at 1.5 crore, primarily impacted by lower EBITDA, higher interest and depreciation expenses related to the chipboard business. Result PDF
Furniture & Furnishing company Greenlam Industries announced Q3FY25 results Net revenues reported at Rs 602.0 crore, growth of 6.9% on YoY basis. Overall laminate business grew by 4.0% in value terms and 2.6% in volume terms on YoY basis. Engineered Floor, Engineered Doors and Plywood business performed reasonably well during the quarter registering growth of 13.8%, 49.5% and 90.7% respectively on YoY basis. EBITDA reported at Rs 63.5 crore, de-growth of 10.7% on YoY basis. Net Profit reported at Rs 12.5 crore, de-growth of 50.3% on YoY basis. Working capital stood at 67 days, improvement of 5 days on YoY basis. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries, said: “The quarter remained subdued, with an overall year-on-year revenue growth of 6.9% taking our net consolidate revenues for the quarter at Rs 602.0 crore. Our international laminate business continued to deliver steady performance in both value and volume terms, reflecting our strong global presence. On the domestic front, the laminate business faced challenges this quarter. However, our Mikasa Floors and Doors businesses showcased growth of 13.8% and 49.5%, respectively, while the plywood segment maintained steady momentum with a YoY growth of 90.7%. Gross margins during the quarter expanded by 20 basis points to 55.0%, driven by stable raw material costs and pricing discipline. However, lower revenue and higher operating expenses during the quarter impacted EBITDA margins, which contracted by 200 basis points to 10.6%, compared to 12.6% in Q3FY24. Net profit declined to Rs 12.5 crore, primarily due to lower operating profits, higher depreciation and interest for new projects and income tax provisions related to prior period. Our working capital stood at 67 days during the quarter We are excited to announce the commencement of commercial production at our state-of-the-art chipboard manufacturing facility in Naidupeta, Andhra Pradesh. Equipped with advanced German technology, this facility positions us as India’s only fully integrated manufacturer offering a unified range of laminates, compacts, restroom cubicles, and prelaminated chipboards, all produced at a single location. With an annual capacity of 2,92,380 cubic meters, the plant has the potential to generate revenues of up to Rs 750 crore at full capacity utilization. The total capital investment for this project stands at approximately Rs 735 crore as of the start of commercial production. The prelaminated chipboard will be marketed under the Greenlam MFC brand”. Result PDF