Greenlam Industries Limited has informed the Exchange about Transcript
GREENLAM · price
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Greenlam Industries held an investor and analyst meet detailing its 10-year journey as an independent company, growing from 2 plants to 5 plants and 3 products to 6 product categories, with revenues rising from INR 925 crores in FY15 to INR 2,569 crores in FY25. Management highlighted that the company has completed INR 1,450 crores of capex over the last three years, with all plants now operational, and these investments can potentially generate INR 4,500 crores of revenue over the next 3-4 years at an 18-20% growth run rate. For Q1 FY26, domestic business grew 22% YoY while exports were flat, gross margin improved 110 bps to 53.1%, but EBITDA margin fell 250 bps to 8.1% and the company reported a net loss of INR 15.7 crores due to chipboard ramp-up costs and a INR 18.8 crores notional forex loss on euro-denominated debt. Management also outlined ESG targets including net zero scope 1 and 2 emissions by 2030 and water positive status by 2027, and shared that the Andhra Pradesh government has sanctioned a 7-10 year incentive package (approximately INR 40 crores) for the chipboard plant.
Shareholders get clarity on the growth runway (INR 4,500 crores revenue potential, 18-20% growth target) and margin expansion prospects (18-22% EBITDA for particle board at full capacity, 18-20% ROCE), but near-term profitability is under pressure from chipboard ramp-up costs, higher interest and depreciation, and forex losses. Debt stands elevated at INR 1,040 crores, which remains a watchpoint despite the long-term growth narrative.