Greenlam Industries Limited, among the world’s top 3 laminate manufacturers with its flagship brands Greenlam Laminates, NewMika Laminates, Decowood Veneers, Mikasa Floors, Mikasa Doors & Frames, MikasaPly & Greenlam MFC, announced its audited consolidated financial results for fourth quarter and year ended March 31, 2025.
Overall laminate business grew 9.2% in value terms and 4.1% in volume terms on YoY basis. Gross margins for the quarter decrease by 50 bps and stood at 52.3% as compared to 52.8%in FY24. Operating profit decreased by 6.8% to Rs. 274.6 crores in FY25 as compared to Rs. 294.7 crores in FY24. The company recorded a net profit of Rs. 68.3 crores in FY25 as compared to Rs. 138 crores in FY24.
Speaking about the results Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries Ltd. said, " We continue to make steady progress across our core businesses, with overall revenue witnessing a reasonable growth of 9.2% during the quarter. This is despite challenging operating environment. Our laminate segment performed well, led by momentum in international markets, reaffirming our strategic focus on global expansion. The performance of our engineered doors and Plywood businesses also remained encouraging with growth of 46.5% and 46.9% on a year-on-year basis respectively. While decorative veneer and engineered flooring remained subdued with de-growth during the quarter. However, we remain confident in their long-term potential.
Gross margin in absolute terms increased by 4.5%; however, gross margin percentage declined by 230 basis points to 50.7%, due to lower production as compared to sales. EBITDA for the quarter stood at 64.0 crores, impacted by lower gross margins, adverse forex fluctuation and higher operating costs as the company continues to invest in expanding its international footprint. The engineered doors segment delivered an operating profit during the quarter, with a positive outlook for sustained growth. The plywood division also reported improved operating performance, both on a year-on-year and sequential basis. Profit After Tax (PAT) for the quarter stood at 1.5 crores, primarily impacted by lower EBITDA, higher interest and depreciation expenses related to the chipboard business.
Net working capital (in days) improved by 12 days and stood at 55 days as compared to 67 days in same quarter of last year, reflecting continued operational discipline. As of March 31, 2025, net debt stood at 989.3 crores. At Greenlam, we are dedicated to offering products that embody excellence in quality, design, and functionality. Our commitment lies in continuously delivering superior and innovative surfacing & substrate solutions that not only meet the evolving needs of our customers but also empower them to create inspiring, sustainable, and healthier living spaces.”
For the fourth quarter ended on March 31, 2025, consolidated net revenues from operations witnessed a growth of 9.2% at Rs. 681.8 crores, as compared to Rs. 624.1 crores in the corresponding quarter of the previous financial year. The laminate business witnessed a value growth of 9.4% and volume de-growth of 5.7% on YoY basis. Gross margins for the quarter decrease by 230 bps and stood at 50.7% as compared to 53.0% in Q4FY24. The operating profit de-grew by 23.4% to Rs. 64.0 crores as compared to Rs. 83.5 crores in the corresponding quarter last year on account of higher operating cost including that of newly started chipboard business and adverse forex fluctuation of INR 4.3 crores. The company recorded a net profit of Rs. 1.5 crores for Q4FY25 as compared to Rs. 40.8 crores in the corresponding quarter last year due to lower EBITDA, higher depreciation and interest related to chipboard business.
