Greenlam Industries Ltd

Greenlam Industries Q2FY26 Update: Revenue Hits Record High 📈, Margins Expand

- FY22 PAT corrected from ₹187.0 Cr to ₹90.6 Cr in investor presentation

- Q2FY26 net profit at ₹31.8 Cr (-7.7% YoY) due to forex fluctuations & higher expenses

- Net debt: ₹995.0 Cr as of Sept 2025; working capital improved by 12 days to 47 days

- Record Q2FY26 revenue: ₹808.3 Cr (+18.7% YoY)

- Laminate business grew 10.2% in value; production volume +5.3%, sales volume +7.4%

- Plywood & Allied segment revenue grew 22.2% YoY; gross margins +200 bps

- Panel & Allied segment (incl. Chipboard) revenue up 54.2% QoQ

- Gross profit grew 25.5% YoY; gross margins expanded 300 bps

- EBITDA before forex grew 32.3% YoY; margins improved 130 bps

- ROCE: 3.7%, ROE: 1.4% for H1FY26

- Strong global presence: 23 India branches, operations in 120+ countries