Greenlam Industries Ltd (GREENLAM) AI Stock Analysis

• Market Cap: ₹57.75B
• Dividend Yield: 0.18%
• Average Volume (3M): 19.54K
• Price to Earnings (P/E): 169.6
• Beta (1Y): 1.17
• Revenue Growth: 10.13%
• EPS Growth: -73.45%
• Country: IN
• Employees: 2,623
• Sector: Consumer Defensive
• Sector Strength: 67
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): -0.90
• Shares Outstanding: 255,147,700
• 10 Day Avg. Volume: 48,759
• 30 Day Avg. Volume: 19,544
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹241.00
• Price Target Upside: 8.95% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 54 Neutral
• Price Target: ₹247.00 ▲(11.66% Upside)

The overall stock score reflects concerns about high leverage and declining profit margins despite revenue growth. The stock's technical indicators suggest limited momentum, and the high P/E ratio indicates overvaluation, reducing attractiveness for new investors.

Greenlam Industries Ltd Business Overview & Revenue Model

Company Description

Greenlam Industries Ltd (GREENLAM) is one of the leading manufacturers of laminates and decorative veneers in India. The company operates within the building materials sector, specializing in surface solutions for various applications, including residential, commercial, and industrial projects. Greenlam offers a wide range of products such as laminates, decorative veneers, compact laminates, and other surfacing solutions that are designed to enhance interiors and provide durable, aesthetic finishes.

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. However, high leverage, declining net income margins, and cash flow management challenges are significant concerns.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	25.69B	23.06B	20.26B	16.48B	11.69B
Gross Profit	7.18B	11.92B	9.47B	7.04B	5.68B
EBITDA	2.86B	3.16B	2.51B	1.92B	1.68B
Net Income	696.90M	1.38B	1.29B	907.33M	737.60M
Balance Sheet
Total Assets	29.09B	27.36B	20.53B	13.84B	11.78B
Cash, Cash Equivalents and Short-Term Investments	985.80M	1.80B	2.59B	1.76B	1.25B
Total Debt	11.99B	11.09B	6.28B	3.98B	3.07B
Total Liabilities	17.83B	16.59B	10.84B	7.29B	6.04B
Stockholders Equity	11.27B	10.77B	9.69B	6.54B	5.73B
Cash Flow
Free Cash Flow	-1.25B	-4.42B	-2.97B	-159.57M	1.63B
Operating Cash Flow	1.43B	1.94B	1.75B	711.57M	2.13B
Investing Cash Flow	-1.70B	-5.27B	-5.41B	-1.36B	-1.54B
Financing Cash Flow	373.20M	3.50B	3.66B	622.23M	-708.70M

Greenlam Industries Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 221.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 221.2 is below the 20-day moving average (MA) of 236.09, below the 50-day MA of 239.90, and below the 200-day MA of 254.88, indicating a bearish trend. The MACD of -5.40 indicates Positive momentum. The RSI at 34.54 is Neutral, neither overbought nor oversold. The STOCH value of 45.89 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
Sector *	63 Neutral	$21.01B	14.53	-7.26%	3.13%	3.36%	-7.91%
ICIL	58 Neutral	₹47.68B	23.15		0.81%	16.71%	-27.20%
RUSHIL	55 Neutral	₹6.39B	27.55		0.42%	-2.77%	-50.35%
GREENLAM	54 Neutral	₹57.75B	169.61		0.18%	10.13%	-73.45%

Greenlam Industries Ltd Corporate Events

Greenlam Industries Concludes Successful AGM with Unanimous Resolution Approval

Greenlam Industries Limited announced the successful conclusion of its 12th Annual General Meeting (AGM) held on July 31, 2025, via video conferencing. All resolutions proposed during the AGM were passed with the requisite majority, reflecting strong shareholder support. The voting results and the scrutinizer’s report have been made available on the company’s website, indicating transparency and adherence to regulatory requirements. This development reinforces Greenlam’s commitment to maintaining robust governance practices and could positively impact stakeholder confidence.

Greenlam Industries Transfers Equity Shares to IEPF

Greenlam Industries Limited has announced the transfer of its equity shares to the Investor Education and Protection Fund (IEPF) as per the Companies Act, 2013. This move, communicated through newspaper advertisements, is in compliance with regulatory requirements and aims to ensure transparency and adherence to legal obligations, potentially impacting shareholders whose shares are transferred.