ALFA Finder
The call ran from 2:31 PM to 3:06 PM IST (35 min).
Key takeaways
Q2 FY27 missed: consolidated revenue +8% YoY to ₹875 Cr, EBITDA down 19% to ₹87 Cr at 9.9% margin. Management admits Q2 was unsatisfactory and trimmed FY27 revenue guidance to 16-18% from 18-20%.
| Management target | Revenue FY27 |
|---|
| Revenue growth | +8% YoY Q2 (₹875 Cr), price-led; laminate flat. |
|---|---|
| Margins | Contracting: gross margin -310bps, EBITDA -330bps YoY; laminate EBITDA 12%, -590bps. |
| Demand visibility | Domestic growth lagged; Europe flat; Q3 early signs better, not comparable. |
| Management confidence | Defensive: admits Q2 miss; outlook hedged with 'hopeful', 'probably'. |
Growth
Revenue +8% YoY (₹875 Cr), H1 +13%. Growth is price-led: laminate volumes -12%, realisation +12%, laminate revenue flat.
Outlook
FY27 revenue guided at 16-18%, down from 18-20%. H2 margin guidance withheld. Net debt ₹922 Cr; ~₹100 Cr debt-reduction target hedged as 'very near'.
Risks
Export logistics (freight, vessels, containers) disrupted; European demand flat; gross margin down 310bps; EBITDA margin down 330bps YoY.
Last quarter's promises, checked
Partly delivered
- Guided ~₹100 Cr FY27 debt reduction → net debt ₹934 Cr (Jun) to ₹922 Cr (Sep), ~₹12 Cr cut (= PARTIAL)
- Guided 2 AP laminate lines commercial by Q4 FY27 → on schedule, not yet due (= PARTIAL)
Missed
- Guided 18% FY27 revenue growth → H1 +13%, FY27 guide cut to 16-18% (= MISS)
- Guided laminate revenue +10-12% FY27 → Q2 laminate revenue flat (= MISS)
- Guided laminate EBITDA ~15-16% → Q2 laminate EBITDA 12%, -590bps YoY (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Greenlam Industries Q2 FY27 Results: Net Profit ₹24.5 Cr, Down 23.0% YoY
Greenlam Industries Ltd reported revenue from operations of ₹875.2 Cr (+8.3% YoY) and net profit of ₹24.5 Cr (-23.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹24.5 Cr · -23.0% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
FY27 revenue growth guided at 10-12% for laminates; planned FY27 capex of INR130-135cr.
Growth they described
Revenue grew 18% YoY; Net Profit reached INR21cr vs INR15.5cr loss. Laminate revenue rose 7% YoY.
Call details
| Company | Greenlam Industries Ltd |
|---|---|
| NSE symbol | GREENLAM |
| ISIN | INE544R01021 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 2:30 PM IST |
| Length | 35 min |
| Audio | Our stream on YouTube ↗ |
Greenlam Industries Ltd: key numbers
- Share price
- ₹203.70
- Market cap
- ₹5,197 Cr
- Revenue (annual)
- ₹3,046 Cr
- Net profit (annual)
- ₹56.26 Cr
- P/E (TTM)
- 61.1×Sector 34.9×
- Promoter holding
- 50.98%+0.00% QoQ
- FII holding
- 1.36%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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