GREENLAM

Greenlam Industries Limited

Decorative laminates, plywood, veneers and engineered floors under Greenlam and Mikasa brands

Consumer Discretionary›Consumer Durables›Consumer Durables›Plywood Boards/ Laminates

greenlamindustries.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹214.96
Market cap
5,484 Cr
Stock P/E
59.0
P/B
4.65
Dividend yield
0.2%
ROE (FY26)
4.8%
ROCE (FY26)
8.3%
Operating margin (FY26)
6.0%
Debt / equity (FY26)
0.89
OCF / EBITDA (FY26)
90.0%
OCF / EBITDA (3Y)
77.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Greenlam (Greenlam Industries) makes decorative laminates and allied products, including plywood, chipboard, decorative veneers, engineered wooden flooring and doors, and sells them to domestic and international customers.

Company snapshot

3rdBy market cap

Ranked among 11 companies in Plywood Boards/ Laminates.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 86.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Laminates & Allied Products
86.3%
520 Cr82 Cr1,410 Cr
Plywood
5.1%
30 Cr-7 Cr206 Cr
Veneers & Allied Products
8.6%
52 Cr3 Cr220 Cr

What we see

Concerns
  • ✗Net margin is very thin at 1.8% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales604 Cr563 Cr624 Cr605 Cr681 Cr602 Cr682 Cr674 Cr808 Cr706 Cr858 Cr797 Cr
Operating expenses (approx.)528 Cr492 Cr541 Cr541 Cr599 Cr539 Cr618 Cr630 Cr704 Cr638 Cr749 Cr717 Cr
EBITDA76 Cr71 Cr84 Cr64 Cr81 Cr64 Cr64 Cr44 Cr104 Cr68 Cr108 Cr80 Cr
OPM %12.5%12.6%13.4%10.6%12.0%10.6%9.4%6.5%12.9%9.7%12.6%10.0%
Other income6 Cr3 Cr9 Cr3 Cr8 Cr1 Cr0 Cr2 Cr1 Cr3 Cr2 Cr6 Cr
Interest9 Cr14 Cr13 Cr14 Cr16 Cr16 Cr20 Cr26 Cr24 Cr23 Cr23 Cr19 Cr
Depreciation19 Cr24 Cr26 Cr26 Cr27 Cr27 Cr33 Cr35 Cr36 Cr36 Cr35 Cr35 Cr
Profit before tax53 Cr35 Cr53 Cr27 Cr47 Cr21 Cr11 Cr-14 Cr46 Cr6 Cr52 Cr31 Cr
Tax %25.3%28.7%23.2%26.5%27.1%41.2%86.3%-8.5%31.1%110.6%22.1%31.3%
Net profit39 Cr25 Cr41 Cr20 Cr34 Cr13 Cr1 Cr-16 Cr32 Cr-0.59 Cr41 Cr21 Cr
EPS (₹)₹3.27₹1.98₹4.22₹1.56₹2.70₹0.98₹0.06₹-0.62₹1.25₹-0.02₹1.59₹0.83

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,116 Cr1,156 Cr1,281 Cr1,321 Cr1,200 Cr1,703 Cr2,026 Cr2,306 Cr2,569 Cr3,046 CrSign in free for the trailing twelve months
Operating expenses (approx.)978 Cr1,007 Cr1,122 Cr1,142 Cr1,026 Cr1,516 Cr1,793 Cr2,012 Cr2,295 Cr2,721 CrSign in free for the trailing twelve months
EBITDA138 Cr149 Cr159 Cr178 Cr173 Cr187 Cr233 Cr295 Cr275 Cr325 CrSign in free for the trailing twelve months
OPM %12.4%12.9%12.4%13.5%14.4%11.0%11.5%12.8%10.7%10.7%Sign in free for the trailing twelve months
Other income3 Cr2 Cr2 Cr4 Cr8 Cr7 Cr18 Cr22 Cr11 Cr8 CrSign in free for the trailing twelve months
Interest29 Cr18 Cr17 Cr22 Cr17 Cr14 Cr23 Cr44 Cr65 Cr96 CrSign in free for the trailing twelve months
Depreciation37 Cr36 Cr37 Cr52 Cr56 Cr58 Cr63 Cr87 Cr114 Cr142 CrSign in free for the trailing twelve months
Profit before tax76 Cr97 Cr106 Cr108 Cr96 Cr119 Cr164 Cr185 Cr106 Cr89 CrSign in free for the trailing twelve months
Tax %34.3%33.1%27.4%20.0%23.2%24.0%22.0%25.4%35.8%37.3%Sign in free for the trailing twelve months
Net profit50 Cr65 Cr77 Cr87 Cr74 Cr91 Cr128 Cr138 Cr68 Cr56 CrSign in free for the trailing twelve months
EPS (₹)₹20.58₹26.77₹31.95₹35.91₹30.56₹7.52₹10.27₹10.85₹2.68₹2.20Sign in free for the trailing twelve months
Dividend payout %————0.0%13.3%11.3%13.8%30.8%18.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital12 Cr12 Cr12 Cr12 Cr12 Cr12 Cr13 Cr13 Cr26 Cr26 Cr
Reserves286 Cr344 Cr416 Cr489 Cr561 Cr642 Cr956 Cr1,064 Cr1,101 Cr1,154 Cr
Borrowings258 Cr210 Cr232 Cr259 Cr223 Cr345 Cr570 Cr999 Cr1,075 Cr1,047 Cr
Other liabilities235 Cr257 Cr265 Cr355 Cr381 Cr384 Cr514 Cr660 Cr708 Cr778 Cr
Total liabilities791 Cr823 Cr925 Cr1,114 Cr1,178 Cr1,384 Cr2,053 Cr2,736 Cr2,909 Cr3,004 Cr
Fixed assets (net)318 Cr326 Cr326 Cr418 Cr402 Cr457 Cr503 Cr973 Cr1,737 Cr1,585 Cr
CWIP5 Cr1.00 Cr22 Cr15 Cr17 Cr8 Cr380 Cr611 Cr28 Cr9 Cr
Investments——0.01 Cr0.01 Cr106 Cr161 Cr242 Cr147 Cr58 Cr54 Cr
Loans & advances——0.86 Cr0.90 Cr0.57 Cr0.50 Cr0.54 Cr0.70 Cr0.74 Cr1 Cr
Inventories228 Cr256 Cr308 Cr371 Cr378 Cr503 Cr513 Cr609 Cr665 Cr764 Cr
Trade receivables158 Cr171 Cr177 Cr138 Cr135 Cr129 Cr143 Cr151 Cr157 Cr219 Cr
Cash & bank7 Cr9 Cr7 Cr30 Cr19 Cr16 Cr16 Cr33 Cr43 Cr64 Cr
Other assets74 Cr60 Cr86 Cr141 Cr120 Cr110 Cr255 Cr211 Cr221 Cr308 Cr
Total assets791 Cr823 Cr925 Cr1,114 Cr1,178 Cr1,384 Cr2,053 Cr2,736 Cr2,909 Cr3,004 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity185 Cr109 Cr64 Cr98 Cr213 Cr71 Cr175 Cr194 Cr205 Cr292 Cr
Cash from investing-22 Cr-38 Cr-57 Cr-56 Cr-154 Cr-136 Cr-541 Cr-527 Cr-167 Cr-80 Cr
Cash from financing-160 Cr-69 Cr-6 Cr-22 Cr-71 Cr62 Cr366 Cr350 Cr-28 Cr-191 Cr
Net cash flow3 Cr2 Cr0.92 Cr20 Cr-12 Cr-3 Cr0.21 Cr17 Cr10 Cr21 Cr
Free cash flow (OCF − Capex)161 Cr70 Cr6 Cr39 Cr163 Cr-16 Cr-297 Cr-442 Cr-63 Cr201 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.7%20.2%18.7%17.1%14.2%13.3%12.2%11.0%7.8%8.3%
ROE %16.7%18.1%18.0%17.3%12.9%13.9%13.3%12.9%6.2%4.8%
Debtor days52545038412826242226
Inventory days154160162198233199181199200196
Days payable8798889313710195114125130
Cash conversion cycle1191151241431371251121099792
OCF / EBITDA %134.0%73.0%40.4%55.0%122.9%38.1%75.2%65.7%74.6%90.0%
OCF / EBITDA % (3 years)——80.4%55.8%73.6%71.0%77.4%61.6%71.5%77.3%
Debt / equity0.870.590.540.520.390.530.590.930.960.89
Current ratio1.231.351.421.501.541.691.521.211.171.22
Net debt / EBITDA1.81—1.421.281.181.762.383.283.763.02