Greenlam Industries / Q3-FY26

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Watch2026-02-10Back to GREENLAM

Revenue

₹706 Cr

verified against source

Revenue YoY

17.3%

reported change

EBITDA

₹65 Cr

latest reported figure

Source

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record provenance

Actual signal trajectory

Where this quarter sits.

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EBITDA (₹ Cr)PositiveWatchNegative
3 actual records
Actual quarterly EBITDA (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q2 FY26: 107 · Positive source sentiment · 2025-11-06Q2 FY26Q3 FY26: 65 · Watch source sentiment · 2026-02-10Q3 FY26Q4 FY26: 334 · Positive source sentiment · 2026-05-11Q4 FY2633465
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Greenlam reported Q3 FY26 consolidated revenue of ₹706 crore (+17.3% YoY), but EBITDA margin contracted 170bps to 9.2% due to higher operating costs and exceptional items. The laminate segment saw EBITDA margin expansion of 100bps to 14.5%, while chipboard and plywood segments continued to drag profitability. Management maintained its full-year revenue growth guidance of 18-20%, expecting a strong Q4 recovery. Key risks include slower-than-expected ramp-up in plywood/chipboard capacity utilization and potential US tariff impacts on laminate exports.

Colored figures show movement against the previous available record.

Guidance to track

  • Management expects FY26 revenue growth to be in the 18-20% range, with Q4 being a strong quarter.
  • Targeting 55-60% capacity utilization for chipboard in the next fiscal year.
  • Expect plywood and chipboard segments to achieve EBITDA breakeven in the next fiscal year.

Risks flagged

  • US tariffs are currently applicable on laminates; management has partially passed on costs but margins remain under pressure.
  • Plywood utilization remains at ~35% and chipboard at 41%, well below expectations, leading to continued losses.
  • Management noted slower domestic demand and cash flow challenges among partners, though not quantified.

Key quotes

  • We grew 17 odd% at 706 crores in Q3 from our expectations the numbers were a bit lower... Q3 usually has been a slow quarter for us considering the holiday season.
  • We have done and we have increased some of the prices to the market. So some of the hit has been taken by the customer and rest is taken care by subsidiary and as well as in depreciation in INR.
  • We still are hopeful that this number should improve... feedback on product quality and secondary working is pretty good.

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