Conference Call with Greenlam Industries Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Furniture-Furnishing company Greenlam Industries announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: Consolidated revenue for Q4FY26 reached Rs 857.66 crore, a growth of 25.80% YoY from Rs 681.77 crore in Q4FY25 and 21.42% QoQ from Rs 706.37 crore in Q3FY26. For the full year FY26, revenue stood at Rs 3,046.08 crore, up 18.55% from Rs 2,569.34 crore in FY25. Total Income: Consolidated total income for FY26 was Rs 3,054.33 crore compared to Rs 2,580.33 crore in FY25. For the Quarter, EBITDA before forex impact and exceptional items reported at Rs 107.4 crore, growth of 57.1% YoY For full Year FY26, EBITDA before forex impact and exceptional items stood at Rs 334.2 crore, up by 21.0% YoY basis Profit After Tax (PAT): Consolidated net profit for Q4FY26 was Rs 40.55 crore, representing a significant YoY turnaround from Rs 1.47 crore in Q4FY25 and a QoQ recovery from a loss of Rs 0.59 crore in Q3FY26. However, for the full year FY26, consolidated PAT decreased by 18.04% to Rs 56.02 crore from Rs 68.35 crore in FY25. Earnings Per Share (EPS): Basic and diluted EPS for FY26 stood at Rs 2.20 compared to Rs 2.68 in FY25. Standalone Financial Highlights: Revenue from Operations: Standalone revenue for Q4FY26 stood at Rs 655.46 crore, recording a growth of 16.96% YoY from Rs 560.40 crore in Q4FY25 and an increase of 19.33% QoQ from Rs 549.28 crore in Q3FY26. For the full year FY26, revenue increased by 9.44% to Rs 2,415.19 crore compared to Rs 2,206.86 crore in FY25. Total Income: Total income for Q4FY26 was Rs 661.25 crore, up from Rs 578.84 crore in the same quarter last year. For FY26, the total income grew to Rs 2,443.08 crore from Rs 2,236.90 crore in FY25. Profit After Tax (PAT): The standalone net profit for Q4FY26 was Rs 48.13 crore, up 21.82% YoY from Rs 39.51 crore and up 141.74% QoQ from Rs 19.91 crore in Q3FY26. For FY26, net profit grew by 23.12% to Rs 138.64 crore from Rs 112.61 crore in FY25. Earnings Per Share (EPS): Basic and diluted EPS for FY26 stood at Rs 5.43 compared to Rs 4.41 in FY25. Business Highlights Dividend: The Board has recommended a final dividend of Re 0.40 per equity share of face value Re 1/- each for FY26, subject to shareholder approval at the ensuing Annual General Meeting (AGM) to be held on July 29, 2026. Segment-wise Performance (Consolidated): Laminates & Allied Products: This segment recorded revenue of Rs 2,433.33 crore in FY26 compared to Rs 2,226.37 crore in FY25. Segment profit before tax and interest for the year was Rs 476.35 crore. Plywood & Allied Products: This segment generated revenue of Rs 399.99 crore in FY26, up from Rs 337.85 crore in FY25. The segment reported a loss of Rs 28.73 crore for the year. Panel & Allied Products: Revenue for this segment grew significantly to Rs 212.76 crore in FY26 from Rs 5.12 crore in FY25. The segment reported a loss of Rs 85.97 crore for the year. Capacity Expansion: The brownfield expansion of Laminate manufacturing capacity by 2.0 million Sheets/Boards per annum at the Naidupeta Plant in Andhra Pradesh is on schedule. Commercial production is expected to commence by Q4FY27. Voluntary Liquidation: The Board approved the voluntary liquidation of PT Greenlam Asia Pacific (Batam), a step-down subsidiary of the company, in accordance with Indonesian Company Law. Director Re-Appointment: The Board approved the re-appointment of Mr. Yogesh Kapur as an Independent Director for a second term of five consecutive years, effective from the conclusion of the 13th AGM on July 29, 2026. Exceptional Items: An exceptional loss of Rs 6.16 crore was recorded in the consolidated results during the year, which included an unrealised foreign exchange loss of Rs 7.17 crore recognized on External Commercial Borrowings for a Chipboard project. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries, said, “We delivered a steady performance with year-on-year revenue growth of 25.8%, taking our net consolidated revenues for the quarter at Rs 857.7 crore and crossing Rs 3000.0 crore in FY26 annual revenues, reflecting the resilience of our business model and the strength of our diversified portfolio. All our business segments reported revenue growth during the quarter. In the laminate segment, both domestic and international business grew well, aided by an improved product mix and favourable currency movements, reinforcing the benefits of our strong global footprints. Our plywood & allied products segment – which includes decorative veneers, engineered floors, engineered doors and plywood – registered a healthy 17.9% YoY growth, reflecting increasing acceptance of our integrated offerings. Our chipboard business, which commenced commercial production in Q4FY25, continues to scale up well, delivering 47.3% sequential revenue growth, underscoring the long-term potential of this segment. Gross margins during the quarter expanded by 80 basis points to 51.5%, despite increase in raw material costs in the current quarter. Due to ongoing geopolitical tensions, prices of key raw material spiked substantially during the quarter. However, our prudent supply chain management ensured that the impact of such price volatility remains minimal. Further, we have passed on the entire raw material cost increase to market in the month of April 2026. EBITDA before forex fluctuation has been increased by 250 basis points to 12.5% in Q4FY26, compared to 10.0% in Q4FY25. EBITDA in absolute terms grew by 57.1% to Rs 107.4 crore. Our working capital days improved by 4 days and stood at 51 days during the quarter. Our net debt as on Mar 31, 2026 stood at Rs 940.1 crore. At Greenlam, we remain focused on driving sustainable growth through operational excellence, disciplined execution, and innovation-led manufacturing. Backed by a diversified portfolio of premium surfacing and substrate solutions and an expanding market presence, we are well-positioned to address evolving customer needs and capitalize on growth opportunities across markets. We remain committed to creating long-term value through differentiated offerings, strong business fundamentals, and sustainable growth across our domestic and international operations.” Result PDF
Conference Call with Greenlam Industries Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Furniture company Greenlam Industries announced Q3FY26 results Net revenues stood at Rs 706.3 crore, registering a YoY growth of 17.3%. Overall laminate business grew 8.1% in value terms on YoY basis. EBITDA before forex impact and exceptional items reported at Rs 65.2 crore, degrowth of 0.4% YoY. Net loss stood at Rs 0.6 crore, mainly on account of higher operating costs, forex fluctuations, exceptional items and higher interest and depreciation for chipboard business. Working capital improved by 9 days on YoY basis to 58 days. Saurabh Mittal, Managing Director & Chief Executive Officer, Greenlam Industries, said: “We delivered a steady performance with YoY revenue growth of 17.3% taking our net consolidate revenues for the quarter at Rs 706.3 crore, reflecting the resilience of our business model and the strength of our diversified portfolio. Most of our business segments reported revenue growth during the quarter, supported by disciplined execution and sustained demand across key markets. Our international laminate business continued to perform consistently, aided by an improved product mix and favourable currency movements, reinforcing the benefits of our strong global footprints. On the domestic front, while laminate business remained flat in value terms, we witnessed modest volume growth. Our plywood & allied products segment – including decorative veneers, engineered floors, engineered doors and plywood – registered a healthy 9.5% YoY growth, reflecting increasing acceptance of our integrated offerings. Our chipboard business, which commenced commercial production in Q4FY25, continues to scale up well, delivering 11.4% sequential revenue growth, underscoring the long-term potential of this segment. Gross margins during the quarter expanded by 60 basis points to 55.6%, driven by stable raw material costs and pricing discipline. However, lower revenue and higher operating costs during the quarter impacted EBITDA margins before forex fluctuation, which contracted by 170 basis points to 9.2%, compared to 10.9% in Q3FY25. The quarter also included an exceptional item of Rs 6.2 crore due to one-time impact of wage code resulting in increase in provisions for gratuity and leave payment on actuarial basis. Due to the exceptional items, higher depreciation and interest for chipboard business there was a net loss for the quarter at Rs 0.6 crore. Our working capital days improved by 10 days and stood at 58 days during the quarter. Our net debt as on Dec 31, 2025 stood at Rs 1010.1 crore. During the quarter, we streamlined our brand architecture to create a stronger and more focused foundation around our two flagship brands, Greenlam and Mikasa. A key milestone in this journey has been the rebranding of our laminate brand NewMika to Mikasa Laminates, following the earlier transition of Decowood Veneers to Mikasa Decowood Veneers This strategic realignment brings our surfacing and substrate portfolio under the unified “MIKASA” identity, encompassing Plywood, Veneers, Floors, Doors, and now Laminates. We believe this consolidation will significantly enhance customer experience, strengthen brand recall, and further reinforce our leadership across categories. We are also proud to be recognized once again as India’s Largest Exporter of Laminates at the Plexconcil Export Awards 2025, marking our 16th consecutive year as the country’s leading exporter in decorative and luxury laminates, underscoring our consistent focus on quality, innovation, and global excellence. Innovation remains central to our growth strategy as we continue to launch advanced, differentiated solutions that enhance customer value while delivering sustainable and profitable growth”. Result PDF
Conference Call with Greenlam Industries Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.