Greenlam Industries Ltd (GREENLAM) AI Stock Analysis

• Market Cap: ₹63.88B
• Dividend Yield: 0.16%
• Average Volume (3M): 652.89K
• Price to Earnings (P/E): 201.1
• Beta (1Y): 1.33
• Revenue Growth: 11.84%
• EPS Growth: -73.79%
• Country: IN
• Employees: 2,623
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 1.30
• Shares Outstanding: 255,147,700
• 10 Day Avg. Volume: 4,222
• 30 Day Avg. Volume: 652,889
• PEG Ratio: -0.91
• Price to Book (P/B): 2.77
• Price to Sales (P/S): 1.22
• P/FCF Ratio: -25.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: ₹261.00 ▼(-1.12% Downside)

Greenlam Industries Ltd's stock score is primarily influenced by its strong revenue growth and operational efficiency, which are offset by high leverage and declining profitability. Technical indicators are positive, suggesting potential price momentum, but the high P/E ratio indicates overvaluation, posing a risk to investors.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, positioning Greenlam well for future expansion and competitive advantage.

Operational Efficiency

Stable gross profit margins and efficient operations highlight Greenlam's ability to manage costs effectively, supporting long-term profitability.

Market Position

As a leading manufacturer in its sector, Greenlam benefits from strong brand recognition and a robust market position, aiding in sustained competitive advantage.

Negative Factors

High Leverage

High leverage can strain financial resources and limit strategic flexibility, posing risks to Greenlam's long-term financial health and stability.

Declining Net Income Margins

Declining net income margins suggest challenges in maintaining profitability, which could impact Greenlam's ability to reinvest in growth and innovation.

Cash Flow Challenges

Negative free cash flow indicates potential liquidity issues, limiting Greenlam's capacity to fund operations and growth initiatives sustainably.

Greenlam Industries Ltd Business Overview & Revenue Model

Company Description

Greenlam Industries Limited manufactures and sells laminates, decorative veneers, and their allied products in India and internationally. The company operates through Laminate & Allied Products and Veneer & Allied Products segments. It offers laminates for homes, kitchens, offices, or other premises; decorative and designer laminates for kitchen, wardrobe, doors, living room, office, or commercial spaces; compact laminates for restroom cubicles, lockers, furniture, panels, work tops, lab furniture, and facades; and laminates for exterior and interior claddings. It also provides melamine faced chip boards; decorative veneers; engineered wood flooring products; and engineered doors and door frames. The company offers its products under the Greenlam Laminates, New Mika, Decowood, Greenlam Sturdo, Greenlam Clads, Mikasa Floors, and Mikasa Doors & Frames brand names. It serves institutions, and hospitality and health care sectors, and luxury retail and fast food chains. The company sells its products through a network of distributors, dealers, and retailers. Greenlam Industries Limited was founded in 1993 and is based in New Delhi, India.

How the Company Makes Money

Greenlam Industries Ltd primarily generates revenue through the sale of its laminate and veneer products. The company's revenue model is based on manufacturing and distributing high-quality surface solutions to a diverse customer base, including architectural firms, interior designers, and construction companies. Key revenue streams include domestic sales within India as well as exports to multiple international markets. Greenlam's earnings are supported by its extensive distribution network, strategic partnerships with retailers and distributors, and a strong focus on innovation and sustainable practices that meet the evolving demands of the market.

Greenlam Industries Ltd Financial Statement Overview

Summary

Greenlam Industries Ltd demonstrates strong revenue growth and operational efficiency, but faces challenges in profitability and cash flow management. The high leverage and declining net income margins are concerning, impacting future financial stability.

Income Statement

Greenlam Industries Ltd has shown consistent revenue growth over the years, with a notable increase in total revenue from INR 11.7 billion in 2021 to INR 25.7 billion in 2025. The gross profit margin is stable, reflecting efficient cost management, while the net profit margin has been decreasing, indicating potential pressure on profitability. EBIT and EBITDA margins suggest operational efficiency, but the declining net income is a concern.

Balance Sheet

The company's balance sheet shows a high debt-to-equity ratio, indicating significant leverage, which could pose financial risk. Stockholders' equity has grown steadily, supporting the equity ratio, yet the increasing total debt over the years suggests a need for effective debt management. The return on equity has been fluctuating, reflecting varying net income performance.

Cash Flow

Greenlam Industries Ltd faces challenges in cash flow management, with negative free cash flow in recent years due to high capital expenditures. The operating cash flow to net income ratio is below optimal levels, signaling inefficiencies in converting income into cash. Free cash flow to net income ratio is also low, indicating potential liquidity issues.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.38B	25.69B	23.06B	19.94B	17.03B	11.69B
Gross Profit	10.64B	7.18B	11.92B	9.47B	7.04B	5.68B
EBITDA	2.65B	2.86B	3.16B	2.51B	1.92B	1.68B
Net Income	340.50M	696.90M	1.38B	1.29B	907.33M	737.60M
Balance Sheet
Total Assets	0.00	29.09B	27.36B	20.53B	13.84B	11.78B
Cash, Cash Equivalents and Short-Term Investments	984.70M	985.80M	1.80B	2.59B	1.76B	1.25B
Total Debt	0.00	11.99B	11.09B	6.28B	3.98B	3.07B
Total Liabilities	-11.25B	17.83B	16.59B	10.84B	7.29B	6.04B
Stockholders Equity	11.25B	11.27B	10.77B	9.58B	6.54B	5.73B
Cash Flow
Free Cash Flow	0.00	-1.25B	-4.42B	-2.97B	-159.57M	1.63B
Operating Cash Flow	0.00	1.43B	1.94B	1.75B	711.57M	2.13B
Investing Cash Flow	0.00	-1.70B	-5.27B	-5.41B	-1.36B	-1.54B
Financing Cash Flow	0.00	373.20M	3.50B	3.66B	622.23M	-708.70M

Greenlam Industries Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 263.95
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GREENLAM, the sentiment is Negative. The current price of 263.95 is above the 20-day moving average (MA) of 250.64, above the 50-day MA of 252.80, and above the 200-day MA of 243.50, indicating a neutral trend. The MACD of 1.59 indicates Negative momentum. The RSI at 49.54 is Neutral, neither overbought nor oversold. The STOCH value of 55.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GREENLAM.

Greenlam Industries Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STYLAMIND	74 Outperform	₹36.78B	30.31	―	―	14.11%	-7.20%
ICIL	63 Neutral	₹51.23B	31.33	―	0.74%	10.86%	-47.15%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
GREENLAM	58 Neutral	₹63.88B	201.12	―	0.16%	11.84%	-73.79%
RUSHIL	54 Neutral	₹6.40B	38.40	―	0.42%	-4.97%	-65.55%

Greenlam Industries Ltd Corporate Events

Greenlam Industries Opens Special Window for Share Transfer Requests

Greenlam Industries Limited has announced the opening of a special window for the re-lodgement of transfer requests for physical shares. This initiative, in compliance with a SEBI directive, will be available for six months from July 7, 2025, to January 6, 2026, potentially impacting shareholders by facilitating smoother transfer processes.

Greenlam Industries Unveils Financial Results Amidst Transformation

Greenlam Industries Ltd has released its investor presentation detailing the financial results for the quarter and half-year ending September 30, 2025. This announcement marks a significant phase in the company’s ongoing transformation, potentially impacting its market positioning and stakeholder interests.