Greenlam Industries’ Laminates Business Grows On Robust Product Mix

Greenlam Industries Ltd.’s mainstay laminates business grew in the quarter ended December, aided by its wide range of products and a strong supply chain, according to its Managing Director and Chief Executive Officer Saurabh Mittal.

“The laminates business in the third quarter did decently well. In quantity, we grew about 20 percent,” Mittal told BloombergQuint. “We have a good network internationally and a good product lineup. Our supply chain is very efficient.”

Greenlam Industries Q3FY20 Highlights (Year-On-Year)

• Revenue up 14 percent to Rs 358 crore.
• Net profit up 45 percent to Rs 29 crore.
• Ebitda up 35 percent to Rs 54 crore.
• Margins at 15.1 percent versus 12.7 percent.

Greenlam Industries’ arm Greenlam South’s board approved setting up of a manufacturing facility at Nellore in Andhra Pradesh for laminates and allied products with an investment outlay of Rs 175 crore, an exchange filing of the company read.

“It is the strategy of the company to keep driving the volume and value mix,” Mittal said. Despite a weak domestic demand, the company managed to improve its pricing realisation and remained the largest laminates exporter in the country on the back of a strong product line in the third quarter, he said.

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