GIGreenlam Industries538979Quarterly results

Greenlam Industries Q2FY27: revenue up 8.3%, EBITDA and net profit decline

Q2FY27 revenue up 8.3% to ₹ 875.2 crores, but EBITDA down 19.0% and net profit down 22.9% to ₹ 24.5 crores.

By ScoutQuest · Thu 5 Nov 2026, 6:41 PM IST · 1 min read

Q2FY27 Revenue

₹ 875.2 crores, up 8.3% year on year

Q2FY27 Net Profit

₹ 24.5 crores, down 22.9%; EBITDA before forex down 19.0% to ₹ 86.5 crores, margin 9.9% (down 330 bps)

Capex Expansion

2.0 mn sheet brownfield laminate expansion at Naidupeta, commercial production targeted by Q4FY27

Period

Q2FY27

Positioning

The presentation frames Greenlam as an integrated building-surfaces maker — high pressure laminates, decorative veneers, engineered wood floor and doors, plywood and chipboard — manufactured across five states in India.

📉 Q2FY27 consolidated revenue was ₹ 875.2 crores, up 8.3% year on year, but EBITDA before forex fell 19.0% to ₹ 86.5 crores with the margin down 330 bps to 9.9%, and net profit fell 22.9% to ₹ 24.5 crores. Gross profit rose just 2.1% to ₹ 450.5 crores and gross margin narrowed 310 bps to 51.5%, which management attributes to raw material price fluctuations and a change in product mix.

📉 Segment mix shifted sharply. The presentation reports Laminates & Allied net revenue flat at ₹ 658.0 crores, with EBITDA before forex down 32.8% to ₹ 79.3 crores and margin down 590 bps to 12.0%, while laminate volumes de-grew 12.0% year on year in both domestic and international business. Panel & Allied, which covers plain and pre-lam chipboard, lifted revenue 123.9% to ₹ 107.0 crores and posted EBITDA before forex of ₹ 8.7 crores against a loss of (7.3) a year earlier.

💰 Over the longer frame the company reports H1FY27 revenue of ₹ 1,671.9 crores, up 12.8%, and PAT of ₹ 45.7 crores against ₹ 16.1 crores. Its five-year chart shows FY26 revenue of ₹ 3,046 crores but FY26 PAT of ₹ 56 crores, down from ₹ 68 crores in FY25, with net debt to equity at 0.80 and ROE at 4.7%.

🏭 Management says a brownfield expansion of 2.0 mn laminate sheets has been announced at Naidupeta and is likely to commence commercial production by Q4FY27, and lists a clear roadmap to enhance renewable power beyond the current 11 MW. It also prints net debt of ₹ 921.8 crores as on 30 September 2026 and working capital at 53 days for the quarter.

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