Greenlam Industries — Moving To Next Orbit: Prabhudas Lilladher

Prabhudas Lilladher Report

We visited Greenlam Industries Ltd. plant in Behror, Rajasthan and interacted with their management. The plant has laminates capacity of 6.94 million sheets/boards and decorative veneer/engineered doors/engineered wood floor capacity of 4.2 million square metre/1,20,000/1 msm respectively.

Greenlam Industries delivered revenue/Ebitda/profit after tax compound annual growth rate of 10%/5.3%/5.6% over FY19-22, however, improved in nine months-FY23 and reported 20%/16%/26% growth.

Management expects 12-14% volume growth post commissioning of its both manufacturing units and margins continue to remain challenging due to lower utilisation of new plants and competitive pricing in domestic market.

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