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Greenlam Industries Margin Trend — Quarter by Quarter

Greenlam Industries's EBITDA margin moved from 13.2% in Q2 FY26 to 13.0% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2613.0%+30 bps
Q3 FY2610.0%-170 bps
Q2 FY2613.2%+130 bps

What management said about ebitda margin

G

Q4 FY26 · Chipboard and plywood to break even in FY27

Both chipboard and plywood segments are expected to achieve breakeven during FY27 as utilization improves.

G

Q4 FY26 · Laminate margin to sustain at 16-17%

Laminate EBITDA margin is expected to remain in the 16-17% range, with potential for slight improvement.

G

Q3 FY26 · Plywood/chipboard EBITDA breakeven next year

Expect plywood and chipboard segments to achieve EBITDA breakeven in the next fiscal year.

G

Q2 FY26 · Laminate EBITDA margin guidance of ~16% on a yearly basis

Management reiterated a long-term laminate EBITDA margin guidance of around 16% annually, though Q2 achieved 18.7%.

G

Q2 FY26 · Chipboard breakeven expected in FY27

Chipboard business is expected to break even at EBITDA level in FY27 as utilization improves.