Greenlam Q3FY26: Revenue up 17.3% to ₹706.3 Cr, Net Loss ₹0.6 Cr
Greenlam Industries reported Q3FY26 revenue of ₹706.3 Cr, up 17.3% YoY. The company incurred a net loss of ₹0.6 Cr for the quarter. A strategic brand realignment saw 'NewMika' rebranded to 'Mikasa Laminates'. Greenlam was also recognized as India's Largest Exporter of Laminates for the 16th consecutive year.
The revenue growth is a positive indicator, but the net loss and flat EBITDA suggest ongoing challenges. The strategic brand consolidation and export recognition are positive long-term factors. The impact is moderate due to the mixed financial results.
While revenue and gross profit showed positive year-on-year growth, the company reported a net loss for the quarter. The brand realignment and export recognition are positive developments, but the overall financial performance is mixed.
Greenlam Industries Limited announced its financial results for the quarter and nine months ended December 31, 2025. The company reported a revenue of ₹706.3 crores for Q3FY26, a significant increase of 17.3% year-on-year. This growth was broad-based across segments, both domestically and internationally.
Gross profit for the quarter grew by 18.6% to ₹392.5 crores, with gross margin expanding by 60 basis points to 55.6% year-on-year. However, EBITDA before forex fluctuations and exceptional items remained flat at ₹65.2 crores, with a de-growth in EBITDA margin by 170 basis points year-on-year.
An exceptional item of ₹6.2 crores was recorded due to an increase in provision for gratuity and leave payment. The company reported a net loss of ₹0.6 crores for the quarter, primarily attributed to higher operating costs, forex fluctuations, and increased depreciation and interest expenses for the chipboard business. The net loss for the nine-month period ended December 31, 2025, stood at ₹15.5 crores.
In a significant business update, Greenlam streamlined its brand architecture to focus on its two flagship brands, ‘Greenlam’ and ‘Mikasa’. The laminate brand ‘NewMika’ has been rebranded as ‘Mikasa Laminates’, consolidating the surfacing and substrate portfolio under the ‘MIKASA’ identity, including Plywood, Veneers, Floors, Doors, and now Laminates.
The company was also recognized as India’s Largest Exporter of Laminates for the 16th consecutive year at the Plexconcil Export Awards 2025. During the quarter, a High Moisture Resistant (HMR) category in chipboard was launched and has been well accepted by the market.
Working capital improved by 9 days to 58 days on a year-on-year basis. Net debt as of December 2025 stood at ₹1,010.1 crores.
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