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