Stylam Industries Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,968 Cr
- P/E
- 28.49
- ROE
- 19.88%
- PEG
- 1.91
- Price to sales
- 4.07
- Debt to equity
- 0.05
- 52W high / low
- ₹3,736 / ₹1,897
- Sales growth (5Y)
- 18.69%
- EBITDA margin
- 19.40%
- Net profit margin
- 12.89%
- Promoter holding
- 56.86%
- Sales (last year)
- ₹1,221 Cr
Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name “STYLAM” and exports its products primarily to European and South East Asian countries. It manufactures a wide range of high-quality decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces and compact laminates. [1]
Guidance scorecard · Q2 FY27 call
What Stylam Industrie's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ1 FY27 call
10–20%- New plant commissioning expected by September 2026, targeting INR 250-300 crores revenue in FY27 with ~25-30% capacity utilization initially.
- Ramp-up in domestic market expected gradually, with significant volume growth likely from Q3 FY27 onwards.
- Domestic business restructuring underway—adding distributors, partners, and expanding city and state reach to revive growth.
- Export markets, especially Europe, APAC, and Middle East, expected to continue growth without contraction; logistics challenges managed as industry-wide.
- Existing plant capacity has slight unused capacity (5-10%) for laminates; acrylic plant currently underutilized.
2 more points from Stylam Industrie's call on revenue
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MarginsQ1 FY27 call
FlatSee what Stylam Industrie said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- New plant commissioning is targeted for early September 2026, with trial runs already ongoing.
- The new plant is expected to generate INR 250-300 crores revenue in the current financial year, ramping up to 25-30% capacity utilization initially.
- A major new capex announcement is expected after successful commissioning of the new plant, likely in the next quarter.
- Current focus is on starting and stabilizing the new plant rather than rushing into additional capex.
- Future capex may focus beyond laminates, potentially expanding into wood panel adjacencies like plywood, MDF, and particle boards.
2 more points from Stylam Industrie's call on capex
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FundraisingQ1 FY27 call
See what Stylam Industrie said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Stylam Industries does not have long-term purchase orders (POs) from customers; orders are received and processed on a month-on-month basis.
- New plant ramp-up is expected to be gradual, with an anticipated capacity utilization of around 25%-30% in the first year.
- Management indicates that customers assess demand monthly and provide orders accordingly.
2 more points from Stylam Industrie's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹151 Cr | 13.8 | |
| 2 | 40%+ | Up 0–2% | ₹2,267 Cr | 12.2 | |
| 3 | 40%+ | Up 0–2% | ₹1,934 Cr | 16.9 | |
| 4 | 40%+ | Flat | ₹2,338 Cr | 39.6 | |
| 5 | 40%+ | Flat | ₹1,975 Cr | 20.8 | |
| 6 | 40%+ | Flat | ₹528 Cr | 16.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingStylam Industrie announcements
All announcements →- Capex / expansionNotableStylam Industries commences commercial production at new laminate plant, Manak Tabra
Financials of Stylam Industrie
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Stylam Industrie
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 54.61% | 54.61% | 54.61% | 54.61% | 52.19% | 52.19% | 52.19% | 52.19% | 52.19% | 54.10% | 56.86% | 56.86% |
| FIIs + | 3.80% | 3.57% | 3.84% | 3.62% | 3.95% | 3.68% | 2.79% | 2.77% | 2.04% | 2.81% | 2.62% | 2.62% |
| DIIs + | 12.02% | 11.22% | 11.25% | 7.90% | 11.59% | 12.62% | 12.30% | 13.63% | 13.24% | 13.31% | 12.14% | 10.79% |
| Public + | 29.56% | 30.61% | 30.29% | 33.86% | 32.25% | 31.51% | 32.70% | 31.41% | 32.52% | 29.78% | 28.39% | 29.74% |
| No. of Shareholders | 21,249 | 24,816 | 25,292 | 32,183 | 35,558 | 33,993 | 35,499 | 35,383 | 32,827 | 31,776 | 31,135 | 34,274 |
Financials of Stylam Industrie
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 234 | 215 | 240 | 243 | 263 | 255 | 265 | 283 | 292 | 271 | 283 | 326 | 341 |
| Expenses + | 187 | 167 | 192 | 201 | 208 | 209 | 222 | 230 | 236 | 215 | 228 | 258 | 283 |
| Operating Profit | 47 | 48 | 48 | 42 | 54 | 46 | 43 | 53 | 57 | 56 | 55 | 69 | 57 |
| OPM % | 20% | 22% | 20% | 17% | 21% | 18% | 16% | 19% | 19% | 21% | 20% | 21% | 17% |
| Other Income + | 2 | 2 | 0 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 4 | 1 | 4 |
| Interest | 1 | 1 | 0 | 1 | 4 | -1 | -0 | 7 | 2 | -7 | 1 | 1 | 1 |
| Depreciation | 5 | 6 | 6 | 6 | 5 | 6 | 6 | 5 | 5 | 5 | 6 | 4 | 5 |
| Profit before tax | 43 | 43 | 41 | 38 | 47 | 42 | 38 | 41 | 51 | 59 | 52 | 65 | 55 |
| Tax % | 27% | 28% | 8% | 25% | 27% | 28% | 23% | 31% | 27% | 22% | 27% | 26% | 24% |
| Net Profit + | 32 | 31 | 38 | 28 | 34 | 30 | 29 | 28 | 37 | 46 | 38 | 48 | 42 |
| EPS in Rs | 18.73 | 18.48 | 22.16 | 16.73 | 20.12 | 17.94 | 17.09 | 16.67 | 22.03 | 27.14 | 22.36 | 28.41 | 24.98 |
Financials of Stylam Industrie
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 214 | 264 | 294 | 339 | 461 | 462 | 480 | 659 | 952 | 914 | 1,025 | 1,129 | 1,221 |
| Expenses + | 191 | 234 | 249 | 290 | 380 | 382 | 380 | 556 | 797 | 730 | 840 | 909 | 984 |
| Operating Profit | 23 | 30 | 46 | 50 | 80 | 80 | 99 | 104 | 155 | 184 | 185 | 220 | 237 |
| OPM % | 11% | 11% | 16% | 15% | 17% | 17% | 21% | 16% | 16% | 20% | 18% | 20% | 19% |
| Other Income + | 0 | 1 | 1 | 2 | 1 | -14 | 1 | 8 | 1 | 6 | 7 | 7 | 11 |
| Interest | 5 | 6 | 10 | 8 | 11 | 11 | 6 | 8 | 8 | 3 | 4 | 4 | -4 |
| Depreciation | 4 | 5 | 6 | 11 | 18 | 21 | 23 | 23 | 20 | 22 | 24 | 21 | 21 |
| Profit before tax | 14 | 20 | 31 | 33 | 52 | 34 | 71 | 80 | 128 | 164 | 165 | 203 | 231 |
| Tax % | 32% | 38% | 37% | 39% | 25% | 44% | 22% | 24% | 25% | 22% | 26% | 26% | |
| Net Profit + | 9 | 12 | 20 | 20 | 39 | 19 | 55 | 61 | 96 | 128 | 122 | 149 | 174 |
| EPS in Rs | 6.43 | 8.32 | 13.45 | 12.31 | 23.82 | 11.19 | 32.72 | 36.00 | 56.61 | 75.76 | 71.88 | 88.19 | 102.89 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 7% | 0% | 3% | 0% | 0% |
Financials of Stylam Industrie
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | 37 | 49 | 69 | 137 | 177 | 196 | 251 | 308 | 404 | 528 | 649 | 798 | 889 |
| Borrowings + | 82 | 117 | 184 | 127 | 189 | 118 | 59 | 79 | 47 | 0 | 36 | 29 | 44 |
| Other Liabilities + | 24 | 38 | 43 | 56 | 64 | 73 | 89 | 93 | 79 | 69 | 85 | 143 | 186 |
| Total Liabilities | 149 | 211 | 303 | 328 | 438 | 395 | 407 | 489 | 538 | 606 | 779 | 979 | 1,127 |
| Fixed Assets + | 49 | 56 | 80 | 186 | 233 | 195 | 188 | 179 | 172 | 175 | 177 | 201 | 484 |
| CWIP | 31 | 56 | 109 | 0 | 13 | 11 | 0 | 0 | 13 | 2 | 83 | 221 | 12 |
| Investments | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| Other Assets + | 70 | 99 | 115 | 143 | 191 | 188 | 218 | 308 | 351 | 428 | 517 | 556 | 629 |
| Total Assets | 149 | 211 | 303 | 328 | 438 | 395 | 407 | 489 | 538 | 606 | 779 | 979 | 1,127 |
Financials of Stylam Industrie
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 6 | 11 | 26 | 19 | 28 | 66 | 79 | 6 | 66 | 109 | 107 | 177 |
| Cash from Investing Activity + | -12 | -38 | -77 | -8 | -53 | 19 | -6 | -30 | -12 | -37 | -126 | -156 |
| Cash from Financing Activity + | 5 | 26 | 51 | -11 | 22 | -80 | -64 | 17 | -36 | -4 | -4 | -3 |
| Net Cash Flow | -2 | -0 | -0 | 0 | -2 | 5 | 9 | -7 | 18 | 68 | -23 | 18 |
| Free Cash Flow | -7 | -27 | -51 | 10 | -17 | 42 | 73 | -8 | 40 | 95 | 0 | -2 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 38% | 55% | 74% | 61% | 46% | 104% | 97% | 24% | 59% | 83% | 82% | 104% |
Financials of Stylam Industrie
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 57 | 55 | 58 | 62 | 63 | 69 | 75 | 66 | 48 | 64 | 73 | 67 |
| Inventory Days | 71 | 111 | 128 | 117 | 93 | 98 | 106 | 129 | 110 | 112 | 121 | 132 |
| Days Payable | 37 | 51 | 44 | 68 | 38 | 52 | 76 | 56 | 27 | 29 | 30 | 50 |
| Cash Conversion Cycle | 92 | 116 | 143 | 111 | 117 | 115 | 105 | 139 | 131 | 147 | 163 | 150 |
| Working Capital Days | 4 | 11 | -25 | 10 | 30 | 36 | 71 | 82 | 82 | 108 | 110 | 100 |
| ROCE % | 16% | 18% | 19% | 15% | 20% | 17% | 24% | 25% | 32% | 34% | 27% | 27% |
Guidance history
How Stylam Industrie's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Up 2%+ | Planned | None planned | — |
| Q4 FY25 call → | 20–40% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
35 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +38.7% | 81% |
| Last 6 months | +27.4% | 81% |
| Last 3 months | −17.4% | 26% |
The price is 23.6% below its all-time high of ₹3,736.4 (18 Aug 2026). Stocks more than 20% below their peak have their score halved, so 70 became 35.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Stylam Industrie: 0.4 × 81 + 0.4 × 81 + 0.2 × 26 = 70, halved to 35 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Stylam Industrie's management said in earlier quarters
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