Greenlam Industries reports mixed Q2 results with revenue up, profit down

For the quarter ended September 30, 2025, Greenlam Industries reported consolidated net revenues of INR 808.3 crores, an 18.7% increase year-over-year. However, net profit after tax declined by 7.7% to INR 31.8 crores, primarily due to forex fluctuations, higher depreciation, and interest expenses from new projects. EBITDA before forex fluctuations grew 32.3% to INR 106.8 crores, reflecting improved operational efficiency. The laminate business showed strong performance, with 10.2% value growth and 7.4% volume growth, driven by international demand.

The half-year consolidated results also showed net revenues increasing by 15.3% to INR 1482.0 crores. Despite this, net profit after tax for the half year experienced a substantial 70.4% de-growth, reaching INR 16.1 crores, similarly impacted by forex fluctuations, increased depreciation, and interest costs. Working capital improved by 12 days, standing at 47 days in Q2FY26. The company’s focus on sustainable growth and resource management continues, with net debt at INR 995.0 crores.