Greenlam Industries (GREENLAM) investor relations material

Executive summary

• Completed major greenfield and brownfield projects, expanding from 2 to 5 plants and 3 to 6 product lines over the last decade, significantly increasing capacity and market reach.

• Domestic dealer network grew from 12,000 to 40,000; international presence expanded to 120 countries.

• Now among the top three global laminate players and India's largest exporter for 16 years.

• Recent investments in manufacturing, warehousing, and distribution have been completed, setting up for future growth.

• Un-audited standalone and consolidated financial results for the quarter ended June 30, 2025, were approved and published.

Financial highlights

• Q1 consolidated revenue was ₹673.8 crore, up 11.4% year-over-year, nearly matching the previous quarter.

• Gross margin improved by 110 bps to 53.1% year-over-year, aided by stable raw material and lower timber prices.

• EBITDA margin at 8.1%, down 250 bps year-over-year due to initial chipboard plant costs; net loss of ₹15.7 crore, mainly from forex loss on euro-denominated loan.

• Standalone net profit was ₹24.71 crore, up year-over-year but down sequentially; consolidated EPS was negative at ₹(0.62).

• Debt at ₹1,040 crore, expected to remain stable this year before declining from next year.

Outlook and guidance

• Revenue growth guidance of 18–20% for the year reaffirmed.

• Investments until FY25 expected to generate ₹4,500 crore revenue in 2–4 years, with margin improvement at scale.

• Brownfield expansion in laminates planned around FY27 as utilization nears capacity.

• Margin expansion anticipated as most costs are already built in; further brownfield expansions planned at lower capex.

• Focus on strengthening international presence and leveraging technology for efficiency and growth.