Greenlam Industries Q2 Results Review - Steady Performance, Margins To Remain Under Check: Yes Securities

The company did not take any price hikes and higher cost of kraft and design paper weighed on laminates margins.

<div class="paragraphs"><p>Laminates by Greenlam Industries Ltd. (Photo: Company website)</p></div>
Laminates by Greenlam Industries Ltd. (Photo: Company website)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Yes Securities Report

Greenlam Industries Ltd., registered a steady topline growth of 14%YoY and 10% QoQ. Laminates revenue grew by 14% YoY and 9.5% QoQ wherein volumes declined by 10% YoY and grew by 3.4% QoQ while realisations improved by 21% YoY and 5.6% QoQ.

Other segment’s revenue reported a growth of 18.4% YoY and 15.7% QoQ to Rs 468 million.

During the quarter veneers/floors/door segment operated at capacity utilisation of 37%/17%/11% respectively. Laminates Ebitda margins came in at 12.1% as compared to 11.5%/12.4% in Q2 FY22/Q1 FY23, while veneers and other segment registered an Ebitda loss of Rs 32 million versus loss of Rs 16 million/25 million in Q2 FY22/Q1 FY23 respectively.

During the quarter, Greenlam Industries did not take any price hikes and higher cost of kraft and design paper weighed on laminates margins.

Click on the attachment to read the full report:

Yes Securities Greenlam Industries Ltd Q2FY23.pdf


This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.