Greenlam Industries (GREENLAM) had a P/E of 55.8× on 6 Nov 2026, above the industry P/E of 44.0×, and the shares are 27% below their 52-week high. Sales grew 15% a year over 3 years while net profit fell 24%, with ROCE of 9.2% and ROE of 7.3%. Debt is 0.90× equity, and its dividend yield is 0.2%. It is a small-cap company with a market cap of ₹5,197 Cr, ranked 2nd of 12 Lumber & Wood Production companies by market cap; the shares fell 20% over the past year.
- ₹211.11
- ₹212.20
- ₹195.61
- ₹211.11
- 1.7 L
Health check
- ReturnsBehind
−20.4% over a year, better than 1 of 7 peers.
- Price tagPricier
P/E 55.8 vs industry 44.0.
- GrowthSteady
Sales +14.8%, profit −24.1% a year over 3 years.
- ProfitabilityWeak
ROCE 9.2% vs peer median 8.5%.
- Balance sheetFair
Debt 0.90× equity, interest covered 2.0×, Piotroski 8 of 9.
- Red flags2 to check
Return on equity is low at 7.3%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹5,197 Cr
- Small cap
- P/E
- 55.8
- Industry 44.0
- Price to book
- 4.27
- Peers 3.43
- Dividend yield
- 0.20%
- ROE
- 7.3%
- Peers 1.6%
- ROCE
- 9.2%
- Peers 8.5%
- Debt to equity
- 0.90
- Debt ₹1,095 Cr
- EPS (TTM)
- ₹3.65
- Face value ₹1
- OPM (TTM)
- 11.4%
- Net margin 2.6%
- Sales growth
- +18.2%
- Latest quarter vs a year ago
- Profit growth
- −23.2%
- Latest quarter vs a year ago
- Price to sales
- 1.60
- EV/EBITDA 18.8
Strengths and risks
Strengths
- Quarterly sales up 18.2% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 7.3%.
- Quarterly profit down 23.2% on a year ago.
About Greenlam Industries
Greenlam Industries Limited, together with its subsidiaries, manufactures and sells laminates, plywoods, and allied products in India and internationally. It offers decorative and compact laminates, exterior and interior clads, restroom cubicles and locker solutions, chipboards, decorative veneers, engineered wooden floorings, engineered door sets and frames, plywoods, and worktop surface solutions. The company sells its products under the Greenlam and…
- Headquarters
- New Delhi
- Employees
- 3,480
- Sector
- Basic Materials
- ISIN
- INE544R01021
- Website
- greenlamindustries.com
Price range
- Avg volume (3M)
- 97.1K
- 1-year return
- minus 20.4%
- From 52-week high
- minus 26.9%
Analyst consensus
Peers · Lumber & Wood Production
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CENTURYPLYCentury Plyboards (India) | 639.25 | minus 1.63% | 14,202 | 44.0 | 23.0 | 13.9% | 12.4% | 0.67 | 14.0% | minus 14.3% |
| GREENLAMGreenlam Industries | 203.70 | minus 3.51% | 5,197 | 55.8 | 18.6 | 9.2% | 11.4% | 0.98 | 14.8% | minus 20.4% |
| GREENPLYGreenply Industries | 266.30 | plus 0.36% | 3,326 | 26.5 | 14.1 | 12.5% | 10.0% | 0.65 | 18.2% | minus 10.9% |
| GREENPANELGreenpanel Industries | 142.38 | plus 0.27% | 1,746 | 143.8 | 16.6 | −1.5% | 8.1% | 0.24 | −5.5% | minus 49.2% |
| IWPThe Indian Wood Products Company | 34.20 | plus 1.91% | 219 | 36.8 | – | – | 6.2% | 0.19 | – | plus 1.2% |
| ECOBOAREcoboard Industries | 59.40 | minus 2.51% | 192 | – | – | −41.3% | −28.1% | 0.34 | −14.8% | plus 74.1% |
| ARCHIDPLYArchidply Industries | 92.63 | plus 0.28% | 185 | 14.1 | 8.4 | 15.1% | 6.7% | 1.63 | 16.8% | minus 4.9% |
| WIPLThe Western India Plywoods | 155.33 | minus 2.92% | 132 | 913.7 | 37.2 | 4.4% | 2.0% | 0.21 | 3.3% | minus 6.5% |
| Median of 7 peers | – | 0.27% | 219 | 40.4 | 16.6 | 8.5% | 6.7% | 0.34 | 8.6% | −6.5% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 674 | 808 | 706 | 858 | 797 | |
| 630 | 704 | 638 | 749 | 717 | |
| 44.1 | 104 | 68.2 | 108 | 79.9 | |
| 6.5% | 12.9% | 9.7% | 12.6% | 10.0% | |
| 2.5 | 1.2 | 2.5 | 2 | 6 | |
| 25.9 | 24 | 23.3 | 23 | 19.5 | |
| 35.1 | 35.5 | 35.7 | 35.2 | 35.4 | |
| – | – | −6.2 | – | – | |
| −14.5 | 46.1 | 5.6 | 52.1 | 30.9 | |
| −8.5% | 31.1% | 110.6% | 22.1% | 31.3% | |
| −15.4 | 32.3 | −0.2 | 39.5 | 21.3 | |
| -0.62 | 1.25 | -0.02 | 1.59 | 0.83 |
Profit & loss
- Sales CAGR 3Y
- +14.8%
- Profit CAGR 3Y
- −24.1%
- EPS CAGR 3Y
- −5.1%
- ROE
- 7.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,974 | 2,247 | 2,504 | 2,986 | |
| – | +13.9% | +11.4% | +19.3% | |
| 1,740 | 1,950 | 2,228 | 2,651 | |
| 234 | 298 | 276 | 335 | |
| 11.8% | 13.2% | 11.0% | 11.2% | |
| 12.6 | 17.6 | 4 | −6.1 | |
| 23.4 | 44.3 | 64.8 | 93.5 | |
| 63.2 | 87.1 | 114 | 142 | |
| 4.6 | 1.1 | 4.6 | −5 | |
| 164 | 185 | 106 | 89.3 | |
| 21.7% | 25.4% | 35.8% | 37.3% | |
| 129 | 138 | 69.7 | 56.3 | |
| – | +7.5% | minus 49.6% | minus 19.3% | |
| 5.15 | 5.41 | 2.68 | 2.20 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12.7 | 12.8 | 25.5 | 25.5 | |
| 945 | 1,064 | 1,101 | 1,154 | |
| 628 | 1,109 | 1,199 | 1,160 | |
| 455 | 549 | 583 | 664 | |
| 2,041 | 2,736 | 2,909 | 3,004 | |
| 1,002 | 1,612 | 1,775 | 1,713 | |
| 510 | 642 | 37.6 | 14.1 | |
| 0 | 0 | 0 | 1 | |
| 258 | 180 | 98.5 | 115 | |
| 271 | 302 | 998 | 1,161 | |
| 2,041 | 2,736 | 2,909 | 3,004 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 169 | 194 | 210 | 292 | |
| −535 | −527 | −167 | −80 | |
| 366 | 350 | −33.9 | −191 | |
| 0.2 | 16.9 | 9.7 | 21.4 | |
| −466 | −635 | −268 | −91.3 | |
| −297 | −442 | −57.2 | 201 | |
| −14.5 | −19.1 | −21.1 | −10.2 |
Shareholding pattern
- Promoters50.98%
- Public49.02%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 50.98% | 49.02% | 0.00 | |
| 30 Jun 2026 | 50.98% | 49.02% | 0.00 | |
| 31 Mar 2026 | 50.98% | 49.02% | 0.00 | |
| 31 Dec 2025 | 50.98% | 49.02% | 0.00 | |
| 30 Sep 2025 | 50.98% | 49.02% | – |
Major shareholders
Filings & events
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