Greenlam Industries Ltd
P&L
Quarterly Consolidated
vs Q2 FY25
Greenlam Industries Reports 12.2% Revenue Growth in 9 Months Ended Dec 31, 2024; Net Profit Down by 31.2%
31 Jan 2025 · 31 Jan 2025, 01:10 am
Summary
Greenlam Industries Ltd, a leading integrated substrate and surface solutions provider, announced its unaudited consolidated financial results for the third quarter and nine months ended December 31, 2024. The company reported a revenue growth of 12.2% to Rs. 1887.6 crores for the nine-month period. However, the net profit decreased by 31.2% to Rs. 66.9 crores. The laminate business grew 9.9% in value terms and 7.8% in volume terms on YoY basis. The company also announced the commencement of commercial production at its state-of-the-art chipboard manufacturing facility in Naidupeta, Andhra Pradesh.
Key Highlights
- 1
Revenues for 9 months ended December 31, 2024 grew by 12.2% YoY
- 2
Net profit for 9 months ended December 31, 2024 decreased by 31.2% YoY
- 3
Laminate business grew 9.9% in value terms and 7.8% in volume terms on YoY basis
- 4
Commercial production started at the state-of-the-art chipboard manufacturing facility in Naidupeta, Andhra Pradesh
Management Comments
Mr. Saurabh Mittal
Managing Director and Chief Executive Officer, Greenlam Industries Ltd.
The quarter remained subdued, with an overall year-on-year revenue growth of 6.9% taking our net consolidate revenues for the quarter at Rs. 602.0 crores. Our international laminate business continued to deliver steady performance in both value and volume terms, reflecting our strong global presence. On the domestic front, the laminate business faced challenges this quarter. However, our Mikasa Floors and Doors businesses showcased growth of 13.8% and 49.5%, respectively, while the plywood segment maintained steady momentum with a YoY growth of 90.7%.
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