Business

Greenlam Industries Q2 Results Review

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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.

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