Greenlam Q3 FY26: standalone PAT flat, consolidated profit plunges on Labour Code hit
GREENLAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 1.2 pts less than its Plywood Boards/ Laminates peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Greenlam Industries posted Q3 FY26 standalone revenue of Rs 549.28 Cr (up about 3% YoY) and PAT of Rs 19.91 Cr (nearly flat). Consolidated revenue rose 17% to Rs 706.37 Cr but PAT swung to a small loss of Rs 0.59 Cr from Rs 12.54 Cr profit a year ago. 9M FY26 consolidated PAT fell about 77% to Rs 15.47 Cr. The company booked Rs 5.59 Cr (standalone) and Rs 6.16 Cr (consolidated) as exceptional items for a one-time gratuity and leave provision under the new Labour Codes. It also recorded a Rs 2.22 Cr FX loss on ECB revaluation. Laminate capacity expansion at Naidupeta remains on track for Q4 FY27.
Consolidated profits took a big hit from the one-time Labour Code provision and FX loss. Underlying margins also weakened - watch for sustained margin pressure in coming quarters.