Greenlam Industries Ltd.
NSE: GREENLAM · Plywood Boards/ Laminates · sector
₹210.12NSE close 2026-10-26
Key numbers
Market cap₹5,360 cr
Price₹210.12
52w high / low₹279 / ₹198
P/E57.6xSector median 20.9x
P/B4.5xSector median 4.3x
Book value₹46.2
Dividend yield0.19%Sector median 0.17%
ROE8.1%Sector median 5.8%
ROCE10.1%Sector median 8.5%
OPM11.2%Sector median 8.7%
Debt / equity0.89xSector median 0.38x
EV/EBITDA17.8xSector median 15.2x
Interest cover2.5x
Current ratio1.22x
Sales growth 3y+14.6%Sector median +5.8%
Profit growth 3y-24.1%Sector median -15.4%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 12 companies in Plywood Boards/ Laminates (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹115 cr vs borrowings ₹1,047 cr (FY26): borrowings are higher by ₹931 cr.
- Operating profit covered interest 2.5x in the last 12 months.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 13% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹210.12 on 2026-10-26: -24.6% from the 52-week high, +6.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹595.30 · low ₹204.38
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 681 | 602 | 682 | 674 | 808 | 706 | 858 | 797 |
| EBITDA | 81 | 64 | 64 | 44 | 104 | 62 | 108 | 80 |
| OPM % | 12.0% | 10.6% | 9.4% | 6.5% | 12.9% | 8.8% | 12.6% | 10.0% |
| Other income | 8 | 1 | 0 | 2 | 1 | 3 | 2 | 6 |
| Net profit | 35 | 13 | 2 | -15 | 32 | -0 | 39 | 21 |
| EPS (₹) | 1.35 | 0.49 | 0.06 | -0.62 | 1.25 | -0.02 | 1.59 | 0.83 |
| Revenue YoY | +18.7% | +17.3% | +25.8% | +18.2% | ||||
| Profit YoY | -6.6% | -101.3% | +1,797.1% | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,703 | 2,026 | 2,306 | 2,569 | 3,046 | 3,169 |
| EBITDA | 184 | 233 | 295 | 275 | 319 | 355 |
| Net profit | 91 | 128 | 138 | 70 | 56 | 93 |
| EPS (₹) | 3.76 | 5.13 | 5.41 | 2.68 | 2.20 | 3.65 |
| Revenue growth | +18.9% | +13.8% | +11.4% | +18.6% | +20.1% | |
| Profit growth | +41.5% | +7.8% | -49.6% | -19.3% | +172.9% | |
| Dividend / share (₹) | 5.00 | 1.20 | 1.50 | 1.65 | 0.40 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.6% | +20.5% | +20.1% |
| Net profit | -24.1% | -5.3% | +172.9% |
| EPS | -24.6% | -32.1% | – |
| Share price | – | -9.2% (2y) | -20.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 969 | 1,077 | 1,127 | 1,179 |
| Borrowings | – | 570 | 999 | 1,075 | 1,047 |
| Cash & equivalents | – | 258 | 180 | 99 | 115 |
| Total assets | – | 2,053 | 2,736 | 2,909 | 3,004 |
| Fixed assets | – | 503 | 973 | 1,737 | 1,585 |
| Capital work in progress | – | 380 | 611 | 28 | 9 |
| Investments | – | 0 | 0 | 0 | 1 |
| Receivables | – | 143 | 151 | 157 | 219 |
| Inventory | – | 513 | 609 | 665 | 764 |
| Payables | – | 270 | 348 | 415 | 507 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 71 | 175 | 194 | 205 | 292 |
| Cash from investing | -136 | -541 | -527 | -167 | -80 |
| Cash from financing | 62 | 366 | 350 | -28 | -191 |
| Capex | 87 | 472 | 635 | 268 | 91 |
| Free cash flow | -16 | -297 | -442 | -63 | 201 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 13.3% | 12.8% | 6.2% | 4.8% |
| ROCE % | – | 12.2% | 11.0% | 7.8% | 8.3% |
| Debtor days | – | 26 | 24 | 22 | 26 |
| Inventory days | – | 174 | 204 | 198 | 197 |
| Payable days | – | 91 | 117 | 123 | 131 |
| Cash conversion cycle (days) | – | 109 | 111 | 97 | 92 |
| Working capital days | – | 63 | 30 | 23 | 26 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 50.98% |
| FIIs | 1.35% |
| DIIs | 10.81% |
| of which Mutual funds | 8.12% |
| Public (non-institutions) | 36.85% |
| Quarter | Mar 2025 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 50.98% | 50.98% | 50.98% | 50.98% | 50.98% | 50.98% | 50.98% | 50.98% |
| Promoter group | % |
|---|---|
| SM Greenlam Investments Private Limited | 37.78% |
| Saurabh Mittal | 11.33% |
| Parul Mittal | 1.88% |
| Jai Mittal | 0.00% |
| Jia Mittal | 0.00% |
| Shiv Prakash Mittal | 0.00% |
| Santosh Mittal | 0.00% |
| S.M. Safeinvest Private Limited | 0.00% |
| SPJJ Properties Private Limited (Formerly known as Prime Properties Private Limited) | 0.00% |
| Public holders above 1% | % |
|---|---|
| Blue Daimond Properties PVT Ltd | 7.96% |
| Upnishad Holdings Private Limited | 7.40% |
| Akash Manek Bhanshali | 4.44% |
| DSP Small CAP Fund | 3.99% |
| Ashish Dhawan | 3.77% |
| Asiana Fund I | 2.62% |
| HDFC Mutual Fund - HDFC Mid-cap Fund | 2.39% |
| Nippon Life India Trustee Ltd-a/c Nippon India Small CAP Fund | 1.73% |
| Akhil Dhawan | 1.43% |
| Vallabh Roopchand Bhanshali | 1.15% |
| Meenu Mangal Bhanshali | 1.02% |
17,083 shareholders. Pledged: – of promoter shares.
Peers in Plywood Boards/ Laminates
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| CENTURYPLY | ₹14,150 cr | 48.6x | 5.4x | 11.7% | 12.3% | 12.3% | +14.0% | 0.15% |
| GREENLAM | ₹5,360 cr | 57.6x | 4.5x | 8.1% | 10.1% | 11.2% | +14.6% | 0.19% |
| STYLAMIND | ₹5,303 cr | 31.3x | 6.6x | 23.2% | 26.8% | 20.2% | +5.8% | – |
| GREENPLY | ₹3,635 cr | 36.7x | 4.1x | 11.6% | 15.1% | 9.4% | +14.1% | 0.17% |
| EUROPRATIK | ₹1,796 cr | 20.9x | 5.8x | 27.8% | 37.5% | 31.5% | – | 0.11% |
| GREENPANEL | ₹1,605 cr | 242.3x | 1.2x | 0.5% | 2.3% | 8.0% | -4.8% | – |
| RUSHIL | ₹432 cr | 18.7x | 0.7x | 3.5% | 6.8% | 9.9% | +0.9% | 0.68% |
| ARCHIDPLY | ₹181 cr | 13.9x | 1.6x | 12.1% | 11.8% | 6.5% | +16.7% | – |
| ECOBOAR | ₹156 cr | 19.2x | 6.9x | -118.4% | -33.9% | -26.1% | -14.8% | – |
| DUROPLY | ₹106 cr | 13.9x | 0.7x | 1.4% | 6.9% | 4.9% | +10.0% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Laminates & Allied Products | ₹2,433 cr | 79.9% | ₹476 cr | 19.6% |
| Plywood & Allied Products | ₹400 cr | 13.1% | ₹-29 cr | -7.2% |
| Panel & Allied Products | ₹213 cr | 7.0% | ₹-86 cr | -40.4% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-03 | Dividend | Dividend - Re 0.40 Per Share |
| 2025-06-20 | Dividend | Dividend - Re 0.40 Per Share |
| 2025-03-21 | Bonus | Bonus 1:1 |
| 2024-06-21 | Dividend | Dividend - Rs 1.65 Per Share |
| 2023-06-30 | Dividend | Dividend - Rs 1.50 Per Share |
| 2022-07-07 | Dividend | Dividend - Rs 1.20 Per Share |
| 2022-02-10 | Split | Face Value Split (Sub-Division) - From Rs 5/- Per Share To Re 1/- Per Share |
| 2021-08-04 | Dividend | Dividend - Rs 5 Per Share |
| 2020-03-17 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2019-08-01 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2018-08-20 | Dividend | Annual General Meeting/Dividend Rs 2.50 Per Share |
| 2017-08-11 | Dividend | Annual General Meeting/Dividend -Rs.1.50/ Per Share |
| 2016-08-12 | Dividend | Annual General Meeting/Dividend - Re 1/- Per Share |
| 2015-08-14 | Dividend | Annual General Meeting/Dividend -Re 0.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Wood and wood products, furniture, paper, and paper products
| Sector | Consumer Discretionary |
| Industry | Plywood Boards/ Laminates |
| Sub-industry | Plywood Boards/ Laminates |
| Symbol | GREENLAM |
| BSE code | 538979 |
| ISIN | INE544R01021 |
| Face value | ₹1.0 |
| Incorporated | 2013-08-12 |
| Website | www.greenlamindustries.com |
| Plants (India / abroad) | 5 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.