Greenlam Industries Limited , a leading manufacturer of decorative laminates, has reported a strong performance for the second quarter of fiscal year 2026, with significant growth in revenue and profitability. The company has also announced plans for expansion in its core laminates business.

Financial Highlights

Greenlam Industries achieved quarterly revenue of Rs 808.00 crores, marking an 18.7% year-on-year growth. The company's gross margin improved to 54.6%, one of the highest levels it has achieved. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) crossed Rs 100.00 crores for the quarter.

Segment Performance

Laminates and Allied Products

The laminates segment, which continues to be Greenlam's largest business, showed robust performance:

• Revenue grew by 10.2% year-on-year to Rs 658.00 crores
• Volume growth of 7.4% year-on-year
• EBITDA margin stood at 18.7%, an improvement of 400 basis points year-on-year
• Production reached 5.9 million sheets and boards, with a utilization level of 96%

Plywood and Allied Segment

This segment, which includes plywood, decorative veneer, engineered doors, and engineered floors, also showed improvement:

• Revenue grew by 22.2% year-on-year to Rs 102.00 crores
• EBITDA loss reduced to Rs 3.90 crores, down from Rs 6.20 crores in the same quarter last year

Chipboard Segment

The relatively new chipboard business is gaining traction:

• Revenue grew by 54.2% quarter-on-quarter to Rs 47.80 crores
• Volume growth of around 80% quarter-on-quarter
• Production volumes reached 26,571 cubic meters at a utilization level of 36%

Expansion Plans

Greenlam Industries has announced a brownfield expansion of its laminates capacity:

• Addition of 2 million sheets and boards capacity at the Andhra Pradesh facility
• Expected to generate revenue in the range of Rs 375.00-400.00 crores
• Commercial production anticipated to begin in Q4 FY27

Management Commentary

Saurabh Mittal, Managing Director and CEO of Greenlam Industries, commented on the results: "We have crossed Rs. 800 crores of revenue in Q2 FY '26, with the business growing by about 18.7% on a year-on-year basis. Our core laminates business has performed strongly, maintaining 96% utilization and 18.7% EBITDA margins."

Mittal added, "We are focusing on completing the channel appointment for our chipboard business, streamlining and expanding business with furniture makers and OEMs. We are hopeful that the business will keep improving in the time to come."

Future Outlook

The company remains optimistic about its growth prospects:

• Aims to maintain 16% EBITDA margin guidance for the laminates segment on a yearly basis
• Expects to achieve EBITDA break-even in the chipboard segment by FY27
• Plywood segment is approaching break-even, with revenues increasing each quarter

Greenlam Industries' strong performance in Q2 FY26 and its expansion plans indicate the company's commitment to growth and market leadership in the decorative laminates and allied products sector. The diversification into chipboard and the steady improvement in the plywood segment suggest a balanced approach to business development.

Greenlam Industries , one of the world's top three laminate manufacturers, has reported mixed results for the quarter ended September 30, with revenue growth but a decline in profit.

Financial Highlights

Performance Analysis

While Greenlam Industries experienced a notable increase in revenue, the company faced a slight decline in consolidated net profit compared to the same period last year. However, the improvement in EBITDA and EBITDA margin suggests enhanced operational efficiency.

Market Position

Greenlam Industries continues to maintain its position among the world's top three laminate manufacturers. The company's ability to grow revenue demonstrates its strong market presence and adaptability.

Looking Forward

As Greenlam Industries continues to operate in a competitive market, investors and analysts will likely be watching closely to see how the company addresses the challenges that led to the profit decline while capitalizing on the factors driving revenue growth.

The company's performance in subsequent quarters will be crucial in determining whether this quarter's results represent a temporary fluctuation or signal a longer-term trend.