Greenlam Industries Ltd
Greenlam Industries Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Laminates segment is expected to grow steadily with volume growth around 6.8% Y-o-Y in H1 FY26; Q2 saw about 13% growth in volumes. Greenlam Industries aims for an overall consolidated revenue growth of 18%-20% going forward. - Laminates segment is expected to continue growth at the current or possibly better pace than H1 FY '26. - The Brownfield expansion of 2 million sheets in Laminates is expected to generate Rs.
From Greenlam Industries Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Laminates segment is expected to grow steadily with volume growth around 6.8% Y-o-Y in H1 FY26; Q2 saw about 13% growth in volumes.
- Overall consolidated revenue growth guidance is 18%-20% for FY26.
- Laminates growth expected to continue at similar or better pace in coming quarters.
- Brownfield expansion adding 2 million sheets capacity expected to generate Rs. 375-400 crores revenue by Q4 FY27.
- No plans for outsourcing despite near-peak utilization (~96%) as product quality requirements are stringent. Peak utilization can go up to 110-115% temporarily.
- Chipboard and plywood businesses showing strong growth momentum, with plywood revenue up 22.2% Y-o-Y in Q2 and chipboard revenue up 54.2% Q-o-Q. Both segments expected to break even soon (plywood by FY26 end, chipboard by FY27).
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Profitability & Margins
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Capital Expenditure Plans
- Greenlam Industries is executing a Brownfield expansion of 2 million sheets and boards capacity (two lines) at their Andhra Pradesh facility, expected to generate Rs. 375-400 crores revenue with commercial production targeted in Q4 FY 2027.
- Beyond the two lines already planned, the company has additional space to add about 6-7 more lines collectively at Andhra Pradesh and Gujarat factories, though these expansions may require civil construction.
- Estimated capex per new laminate production line is around Rs. 35-40 crores if no civil work is needed; otherwise, it may go up to Rs. 45-50 crores.
- No outsourcing plans for laminates; instead focused on internal capacity additions.
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Top-ranked in Consumer Durables
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Greenlam Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹858 Cr, net profit ₹41 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Greenlam Industries Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Greenlam Industries Ltd Q2 FY26 results?
Laminates segment is expected to grow steadily with volume growth around 6.8% Y-o-Y in H1 FY26; Q2 saw about 13% growth in volumes. Greenlam Industries aims for an overall consolidated revenue growth of 18%-20% going forward. - Laminates segment is expected to continue growth at the current or possibly better pace than H1 FY '26. - The Brownfield expansion of 2 million sheets in Laminates is expected to generate Rs.
What is Greenlam Industries Ltd share price analysis?
Greenlam Industries Ltd currently shows a neutral. The stock trades at a P/E of 59.4 with a market cap of ₹5,473 Cr. Investors should review the full earnings analysis for detailed insights.
Is Greenlam Industries Ltd planning capital expenditure?
Greenlam Industries is executing a Brownfield expansion of 2 million sheets and boards capacity (two lines) at their Andhra Pradesh facility, expected to generate Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.