Greenlam Industries logs Q1 revenue of Rs336cr led by strong demand in laminate business

Net Profit reported of Rs17.3cr as against net loss of Rs7.7cr in Q1FY21.

Jul 27, 2021 02:07 IST India Infoline News Service

Greenlam Industries Ltd., leading manufacturers of surfacing products with its flagship brands Greenlam Laminates, NewMika Laminates, Decowood Veneers, Mikasa Floors and Mikasa Doors & Frames, has announced its unaudited financial results for the Quarter ended June 30, 2021.

Highlights for Quarter ended June 30, 2021
  • Net revenues reported at Rs336.1cr, growth of 110% on yoy basis
  • Laminate business revenues grew by 113% on yoy basis
  • EBDITA reported at Rs38.2cr, growth of 386% on yoy basis
  • Net Profit reported of Rs17.3cr as against net loss of Rs7.7cr in Q1FY21
For the first quarter ended on Jun 30, 2021, consolidated net revenues from operations witnessed a growth of 110%, at Rs336.1cr, as compared to Rs160.4cr in the corresponding quarter of the previous financial year. Both domestic and international business saw good growth on yoy basis. Overall laminate business grew by 113% in value terms as compared to the same quarter last year.

Operating Profit grew by 386% at Rs38.2cr as compared to Rs7.9cr in the corresponding quarter last year. The company reported a net profit of Rs17.3cr for the current quarter as compared to a net loss of Rs7.7cr in the corresponding quarter last year

Speaking on the financial results, Saurabh Mittal, Managing Director and CEO, Greenlam Industries Ltd. said, “We have seen a reasonable quarter despite the resurgence of Covid-19 cases which resulted in lockdown by various states. Since there was no directive on partial operations from the government, our plants were operating in full capacity.

At Greenlam, it is a continuous pursuit to bring the best, innovation-driven products to our consumers. Therefore, we use anti-bacteria property as a standard offering on our entire range of Greenlam Laminates and Greenlam Compacts for over 10 years. We continue to be committed to redefining interior spaces with superior quality and hygienic products, innovation in technology and bring the best trends in home décor to our customers.”

At around 2:27 PM, Greenlam Industries was trading at Rs1349.60 per piece lower by 1.17% on Sensex. 

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