Q4 2025 Greenlam Industries Ltd Earnings Call Transcript
Key Points
- Greenlam Industries Ltd (BOM:538979) reported a year-on-year revenue growth of 11% for FY25, reaching INR2,569 crores.
- The company successfully commissioned three new plants, which are expected to significantly boost revenue and profitability over the next three years.
- The laminates segment showed resilience with domestic and export growth, and the company believes it gained market share.
- The plywood business nearly doubled its revenue, reaching INR120 crores in FY25, with positive market feedback on product quality.
- The company reduced its net working capital cycle by 7 days in FY25, indicating improved operational efficiency.
- Profitability was impacted due to increased costs from expansion initiatives, including higher depreciation and interest costs.
- EBITDA margin declined by 210 basis points to 10.7% in FY25, and net profit dropped by 50% to INR68.3 crores.
- The veneer business experienced a small decline, and the flooring segment turned EBITDA negative in the second half of the year.
- The chipboard segment, despite being newly commissioned, is not expected to break even until FY27, with only 30-40% utilization anticipated in FY26.
- Debt levels peaked at INR989 crores as of March 31, 2025, with limited reduction expected in the near term due to ongoing CapEx.
Ladies and gentlemen, good day, and welcome to the Greenlam Industries Limited Q4 and FY25 Earnings Conference Call.
This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Saurabh Mittal, Managing Director and CEO. Thank you, and over to you, sir.
Thank you. Good afternoon, everyone. On behalf of Greenlam Industries, I would like to extend a very warm welcome to all of you joining us today. We are pleased to have you on this call to discuss the performance and business update of Q4 FY25 and FY25. I'm joined today by our CFO, Ashok Sharma; Samarth Agarwal from our finance team; and the SGA team, our
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