National, November 06, 2026: Greenlam Industries Limited, among the world’s top three laminate manufacturers and a leading integrated substrate and surface solutions provider, today announced its unaudited consolidated financial results for the quarter and half-year ended September 30, 2026.
Highlights for the Quarter ended September 30, 2026
- Net revenues stood at ₹875.2 crore, registering a YoY growth of 8.3%
- EBITDA before forex impact and exceptional items reported at ₹86.5 crore, YoY de-growth of 19.0%
- Chipboard business reported revenues of ₹107.0 crore and pre-forex operating profit of ₹8.7 crore
- Net Profit reported at ₹24.5 crore, YoY de-growth of 22.9%
- Working capital stood at 53 days, increase of 6 days on YoY basis
Highlights for Half Year ended September 30, 2026
- Net revenues stood at ₹1671.9 crore, registering a YoY growth of 12.8%
- EBITDA before forex impact and exceptional items reported at ₹167.7 crore, growth of 3.8% YoY
- Chipboard business reported revenues of ₹201.6 crore and pre-forex operating profit of ₹12.1 crore
- Net Profit reported at ₹45.7 crore, YoY growth of 184.8%
Financial Highlights for Q2FY27 Results – Consolidated
| (₹ in Crore) | Q2FY27 | Q2FY26 | Growth % (y-o-y) | Q1FY27 | Growth % (q-o-q) |
| Net Sales | 875.2 | 808.3 | 8.3% | 796.7 | 9.9% |
| EBITDA@ | 86.5 | 106.8 | -19.0% | 81.1 | 6.7% |
| Profit / (Loss) before Tax# | 36.3 | 46.1 | -21.4% | 30.9 | 17.2% |
| Profit / (Loss) after Tax | 24.5 | 31.8 | -22.9% | 21.2 | 15.3% |
| Basic EPS (₹)* | 0.96 | 1.25 | 0.83 |
@EBITDA is before forex fluctuations and exceptional items; #Profit before tax and exceptional items;
Financial Highlights for H1FY27 Results – Consolidated
| (₹ in Crore) | H1FY27 | H1FY26 | Growth % (y-o-y) |
| Net Sales | 1671.9 | 1482.0 | 12.8% |
| EBITDA@ | 167.7 | 161.5 | 3.8% |
| Profit / (Loss) before Tax# | 67.2 | 31.6 | 112.4% |
| Profit / (Loss) after Tax | 45.7 | 16.1 | 184.7% |
| Basic EPS (₹)* | 1.79 | 0.63 |
@EBITDA is before forex fluctuations and exceptional items; #Profit before tax and exceptional items;
Greenlam Industries Consolidated Results, Q2FY27:
For the quarter ended on September 30, 2026, consolidated net revenues from operations witnessed a growth of 8.3%, at ₹875.2 crores, as compared to ₹808.3 crores in the corresponding quarter of the previous financial year. Chipboard business reported revenues of ₹107 crores with operating profitability for the second consecutive quarter. Gross margins for the quarter declined by 310 bps to 51.5% primarily on account of fluctuations in raw material prices and change in product mix. Gross profit in absolute terms grew by 2.1% on YoY basis and stood at ₹450.5 crores in Q2FY27. The operating profit before forex fluctuations and exceptional items de-grew by 19.0% and stood at ₹86.5 crores as compared to ₹106.8 crores in the corresponding quarter last year. Net profit for the quarter de-grew by 22.9% and stood at ₹24.5 crores for Q2FY27 as compared to net profit of ₹31.8 crores in the corresponding quarter last year.
Greenlam Industries Consolidated Results, H1FY27:
For the half-year ended on September 30, 2026, consolidated net revenues from operations witnessed a growth of 12.8%, at ₹1671.9 crores, as compared to ₹1482.0 crores in the corresponding period of the previous financial year. Chipboard business reported revenues of ₹201.6 crores with continued operating profitability. Gross profit in absolute terms grew by 9.1% on YoY basis and stood at ₹871.9 crores in H2FY27. The operating profit before forex fluctuations and exceptional items grew by 3.8% and stood at ₹167.7 crores as compared to ₹161.5 crores in the corresponding period last year. The Company recorded a net profit of ₹45.7 crores for H1FY27, growth of 184.7% as compared to corresponding period last year.
Speaking about the results Mr. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries Limited said, “Q2FY27 was a challenging quarter, marked by continued geopolitical uncertainties, volatility in raw material prices and significant logistics disruptions. Despite these headwinds, we delivered consolidated revenues of ₹875.2 crore, registering growth of 8.3% year-on-year and 9.9% sequentially. Our export business faced challenges from elevated ocean freight costs and delays in shipments, which affected the schedules and impacted our international business during the quarter. We remain focused on navigating these near-term disruptions while maintaining our long-term presence and customer relationships across international markets.
One of the key positives during the quarter was the continued scale-up and improving profitability of our chipboard business. The business reported revenues of ₹107.0 crore and a pre-forex operating profit of ₹8.7 crore during Q2FY27. This is second consecutive quarter of operating profitability for the chipboard business. This improving operating performance gives us confidence in the long-term potential of the business as we continue to drive capacity utilisation, market penetration and operating efficiencies.
Further, Plywood & Allied business reported significantly reduced losses of ₹ 1.4 crores with topline growing by 7.5% on YoY basis to ₹ 110.2 crores.
At the consolidated level, EBITDA before forex fluctuations and exceptional items stood at ₹86.5 crore. Profitability during the quarter was impacted by the challenging operating environment, including higher input and logistics costs. We continue to focus on pricing discipline, cost optimisation and operating efficiencies to mitigate these pressures.
Our focus on financial discipline also continued to yield results, with net working capital stood at 53 days and net debt stood at ₹921.8 crore as of September 30, 2026. With the major phase of our capacity expansion behind us, improving cash generation and progressively strengthening the balance sheet remain key priorities. Our laminate brownfield expansion at Naidupeta is progressing well and shall commence commercial production within Q4FY27.
Looking ahead, we remain focused on strengthening our core laminate business, scaling the chipboard and other newer businesses profitably, improving asset utilisation and driving greater operating efficiencies. Our diversified portfolio, expanded manufacturing base and established presence across domestic and international markets position us well to navigate near-term challenges while pursuing sustainable and profitable growth.
About Greenlam Industries Limited
Greenlam Industries Limited ranks among the top three laminate manufacturers globally and is a leading integrated substrate and surface solutions provider. The company offers a wide range of products to customers in over 120 countries, consistently delivering innovation and quality. Its diverse product portfolio includes decorative laminates & compacts, interior and exterior cladding, restroom cubicles and locker solutions, decorative veneers, engineered wood flooring, doors, plywood and pre-laminated chipboards.
With five state-of-the-art manufacturing facilities located across India—in Behror (Rajasthan), Nalagarh (Himachal Pradesh), Prantij (Gujarat), Tindivanam (Tamil Nadu), and Naidupeta (Andhra Pradesh)—Greenlam is committed to both quality and environmental responsibility. The company ethically sources its raw materials and holds numerous sustainability certifications, including FSC®, PEFC™, ISO 14001, GRIHA, GREENPRO, REACH, ISO 45001, and ISO 50001. Its products are globally certified with CE, UL, NSF, SEFA, Green Label, Greenguard, NEMA (for the US and North America), and BS EN standards. Greenlam is also ISO 9001 certified for Quality Management Systems and holds SEDEX certification for Ethical Trade Initiatives, ensuring its products are both safe and eco-friendly.
Supported by an expansive global sales and distribution network, Greenlam is always prepared to assist in transforming your spaces with seamless expertise.
