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Swing Capital

Greenlam Industries Ltd

NSE: GREENLAM BSE: 538979

Greenlam Industries is engaged in the business of manufacturing laminates, decorative veneers and allied products. [1]

₹225
52W: ₹198 — ₹279
PE 42.8 · Book ₹47 · +379% vs book
Market Cap₹5,741 Cr
Stock P/E42.8Price to Earnings
ROCE11.9%Return on Capital
ROE10%Return on Equity
Div. Yield0.17%Face Value ₹1

Weaknesses

  • −Stock is trading at 4.81 times its book value
  • −Company has a low return on equity of 13.1% over last 3 years.
  • −Dividend payout has been low at 13.1% of profits over last 3 years

Shareholding Pattern

Promoters50.98%
FIIs1.77%
DIIs13.96%
Public33.26%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.98%50.98%50.98%50.98%50.98%50.98%50.98%50.98%
FIIs1.77%1.72%▼0.11.78%▲0.11.77%▼0.01.75%▼0.01.74%▼0.01.74%1.77%▲0.0
DIIs15.6%15.63%▲0.015.72%▲0.115.73%▲0.015.15%▼0.614.6%▼0.614.48%▼0.113.96%▼0.5
Public31.65%31.67%▲0.031.51%▼0.231.53%▲0.032.12%▲0.632.68%▲0.632.78%▲0.133.26%▲0.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales566517571526586535560557653549
Expenses500448497468518474497499565498
Operating Profit66697457696164588851
OPM %12%13%13%11%12%11%11%10%13%9%
Net Profit33355023301940254620
EPS ₹1.31.371.960.911.190.761.550.971.80.78

AI Insights

Revenue Trend

TTM revenue at ₹2,320Cr, up 5.1% YoY. OPM at 11%.

Debt Position

Borrowings at ₹534Cr. Debt-to-equity ratio: 0.46x. Healthy balance sheet.

Capex Cycle

CWIP at ₹10Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 13.96% (-1.64pp change). FIIs: 1.77% (+0.32pp change). Promoters hold 50.98%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 12% (Mar 2025). Working capital days: 6.

Valuation

PE 42.8x with 11.9% ROCE. Price is 379% above book value of ₹47. Dividend yield: 0.17%.

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