Manufactures decorative laminates, sold domestically and exported to markets including Europe, APAC, the Middle East and the US. In Q1 FY27, revenue was Rs 326.47 crore, up 15% year-on-year, split between domestic sales of Rs 247 crore and exports of Rs 79 crore. A third laminate plant in Panchkula, Haryana is set to begin commercial production on 1 September 2026, with a targeted revenue contribution of INR250-300 crore in FY27 at 25-30% year-one capacity utilisation. Raw materials — chiefly phenol and melamine, sensitive to West Asia tensions — made up 54.4% of FY26 revenue, the largest cost line. Q1 FY27 EBITDA margin crossed 21%, above the prior perceived 20% ceiling, on operating leverage rather than inventory gains, with management guiding to 19-20%+ even after the new plant ramps up. Japanese partner Aica Kogyo, holding 27.12%, sits on the board in a strategic and technology-transfer role, and the company is zero-debt. The next major capex announcement, deferred to Q2 FY27, is expected to focus on domestic wood-panel adjacencies (plywood, MDF, particle board) given management's view that core laminate is approaching saturation. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic laminates, Export laminates, Third plant (Panchkula) laminates, Wood-panel adjacencies (planned). Asset-heavy laminates manufacturer; capex at 17% of FY26 revenue; zero-debt; planning adjacency move into wood-panel products
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 659 | 952 | 914 | 1,025 | 1,129 |
| EBITDA (ex other income) | 104 | 155 | 183 | 185 | 221 |
| margin % | 15.7 | 16.3 | 20.1 | 18.1 | 19.5 |
| Owners' profit | 61 | 96 | 128 | 0 | 150 |
| EPS, as reported (₹) | 36.06 | 56.63 | 75.77 | 71.46 | 88.25 |
| ROE % · ROCE % | 19.3 · 26.1 | 23.3 · 31.7 | 24.0 · 30.5 | 18.5 · 25.2 | 18.6 · 25.0 |
| Debt / equity (x) | 0.21 | 0.09 | 0.00 | 0.05 | 0.04 |
| Cash from operations | 11 | 66 | 113 | 107 | 177 |
| Capex | (14) | (26) | (19) | (108) | (192) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 263 | 255 | 265 | 283 | 292 | 271 | 283 | 326 |
| Profit before tax | 47 | 42 | 38 | 41 | 51 | 59 | 52 | 65 |
| Net profit | 34 | 30 | 30 | 28 | 37 | 46 | 38 | 48 |
| EPS (₹) | 19.66 | 17.55 | 17.51 | 16.57 | 22.17 | 27.16 | 22.35 | 28.37 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CENTURY PLYBOARDS (I) LTD | 15,977 | 54.9 | 6.07 | 26.9 | 10.2 | 11.0 | 20.4 | 12.8 |
| GREENLAM INDUSTRIES LTD. | 6,013 | 64.6 | 5.10 | 21.4 | 4.8 | 4.5 | 20.5 | 10.8 |
| STYLAM INDUSTRIES LIMITED ◆ | 5,595 | 33.0 | 6.93 | 24.4 | 18.6 | 24.6 | 18.9 | 21.5 |
| GREENPLY INDUSTRIES LTD | 3,622 | 36.6 | 4.05 | 14.9 | 10.0 | 12.0 | 18.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 29 Aug 2026 · Stylam Industries 35th AGM: all 15 resolutions passed | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Stylam Industries 35th AGM: 15 Resolutions Transacted via E-Voting | board shareholder meetings | medium | — | — |
| 5 Aug 2026 · AGM notice and annual report FY25-26 communication to shareholders | compliance | minimal | — | — |
| 5 Aug 2026 · Stylam Industries 35th AGM scheduled for August 28, 2026 via video conferencing | compliance | minimal | — | — |
| 4 Aug 2026 · Stylam Industries files Annual Report for FY 2025-26 | compliance | medium | — | — |
| 4 Aug 2026 · Stylam Industries files BRSR for FY 2025-26 | compliance | low | — | — |
| 4 Aug 2026 · 35th AGM on Aug 28: director changes, Aica Kogyo board entry | board shareholder meetings | low | — | — |
| 4 Aug 2026 · AGM notice with 15 resolutions including director appointments and remuneration hikes | board shareholder meetings | low | — | — |
| 27 Jul 2026 · Q1 FY27 call: new plant by Sept, INR250-300 cr revenue expected | investor communications | medium | — | — |
| 27 Jul 2026 · Pre-AGM notice published in newspapers for 35th AGM on Aug 28, 2026 | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 11.1 |
| GREENPANEL INDUSTRIES LTD | 1,882 | 13.2 | 1.43 | 7.9 | 10.8 | 10.9 | — | 14.8 |
| RUSHIL DECOR LIMITED | 465 | 20.1 | 0.71 | 9.6 | 1.0 | 1.2 | — | 8.4 |
| ARCHIDPLY IND. LTD | 202 | 15.5 | 1.80 | 9.0 | 7.1 | 6.2 | — | 7.5 |
| ECOBOARD INDUSTRIES LTD. | 157 | 14.4 | 6.98 | — | (44.7) | (43.3) | — | (31.2) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 33.0 | 19.7 | 8 of 12 | 36% |
| P/B | 6.9 | 3.2 | 12 of 13 | 8% |
| ROCE | 24.6 | 4.5 | 1 of 13 | 100% |
| ROE | 18.6 | 4.8 | 1 of 13 | 100% |
| Debt / Equity | 0.0 | 0.4 | 1 of 13 | 100% |
| EBITDA margin | 21.5 | 7.5 | 1 of 13 | 100% |
| Revenue growth | 15.4 | 18.2 | 8 of 13 | 42% |
| Profit growth | 70.3 | 32.2 | 4 of 13 | 75% |
| Market cap | 5595 | 202 | 3 of 13 | 83% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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