ICICI Securities: Greenlam Industries’ Market Share Gains In Laminates To Persist 
Workers prepare a vacuum table so that laminate material can be glued to aluminum tubing (Photographer Mark Shephard/Bloomberg)

ICICI Securities: Greenlam Industries’ Market Share Gains In Laminates To Persist 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

We expect Greenlam Industries Ltd.’s laminate volumes to stage steady recovery post Q2 FY21 led by market share gains in both domestic and international operations.

Our optimism is based primarily on weakening competition in the laminate segment (post Covid-19) in domestic and export markets and the recent launch of 0.7 millimeter thickness laminates in the domestic space.

While exports have largely achieved normalcy, the gradual liquidation of high inventories in the domestic real estate space resulting in increase in rate of occupation of premises, and pent-up demand in renovation, would aid gradual recovery in the domestic laminate space going forward.

Click on the attachment to read the full report:

ICICI Securities Greenlam Update Dec20.pdf

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