May 25: Greenlam Industries Limited, among the world’s top three laminate manufacturers and a leading integrated substrate and surface solutions provider, today announced its audited consolidated financial results for the quarter and year ended March 31, 2026.
Highlights for the Quarter ended March 31, 2026
- Net revenues stood at ₹857.7 crore, registering a YoY growth of 25.8%
- Overall laminate business grew 14.4% in value terms on YoY basis
- EBITDA before forex impact and exceptional items reported at ₹107.4 crore, growth of 57.1% YoY
- Net Profit reported at ₹40.5 crore
- Working capital improved by 4 days on YoY basis to 51 days
Highlights for Year ended March 31, 2026
- Net revenues reported at ₹3,046.1 crore, a YoY growth of 18.6%
- Overall laminate business grew 9.3% in value terms on YoY basis
- EBITDA before forex impact and exceptional items stood at ₹334.2 crore, up by 21.0% YoY basis
- Net Profit was lower by 18.1% YoY basis at ₹56.0 crore mainly on account of higher operating costs, forex fluctuations, exceptional items and higher interest and depreciation for chipboard business
Greenlam Industries Consolidated Results, Q4FY26:
For the fourth quarter ended on March 31, 2026, consolidated net revenues from operations witnessed a growth of 25.8%, at ₹857.7 crores, as compared to ₹681.8 crores in the corresponding quarter of the previous financial year. The laminate business witnessed overall value growth of 14.4% on YoY basis. Gross margins for the quarter improved by 80 bps and stood at 51.5% as compared to 50.7% in Q4FY25. Gross profit in absolute terms grew by 28.0% on YoY basis and stood at ₹442.1 crores in Q4FY26. The operating profit before forex fluctuations and exceptional items grew by 57.1% and stood at ₹107.4 crores as compared to ₹68.4 crores in the corresponding quarter last year. The Company recorded a net profit of ₹40.5 crores for Q4FY26 as compared to net profit of ₹ 1.5 crores in the corresponding quarter last year.
Greenlam Industries Consolidated Results, FY26:
For the year ended March 31, 2026, consolidated net revenues from operations witnessed a growth of 18.6% to ₹ 3046.1 crores, as compared to ₹ 2569.3 crores in the corresponding period of the preceding financial year. Overall laminate business grew 9.3% in value terms on YoY basis. Gross margins for the year improved by 130 bps and stood at 53.6% as compared to 52.3% in FY25. Gross profit in absolute terms grew by 21.6% on YoY basis and stood at ₹1633.3 crores in FY26. Operating profit before forex fluctuations and exceptional items grew by 21.0% to ₹ 334.2 crores in FY26 as compared to ₹ 276.1 crores in FY25. The company recorded net profit of ₹ 56.0 crores for FY26 as compared to ₹ 68.4 crores in FY25. The net profit is lower primarily due to higher operating costs, forex fluctuations, exceptional items and higher interest and depreciation for chipboard business.
Speaking about the results Mr. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries Limited said, “We delivered a steady performance with year-on-year revenue growth of 25.8% taking our net consolidated revenues for the quarter at ₹857.7 crores and crossing ₹3000.0 crores 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 ₹107.4 crores.
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 ₹940.1 crores.
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.”