Greenlam Industries Limited has released the transcript of its Investor and Analyst Meet (Group Conference) held on January 30, 2026. The call covered the company's performance for Q3 and the first nine months of FY26. During the call, Managing Director Saurabh Mittal discussed business updates, including the brownfield expansion at the Naidupeta plant, which is on track for completion in Q4 FY27. He also highlighted the streamlining of the brand architecture into two main brands: Greenlam and Mikasa, aiming to enhance brand value and marketing spend efficiency. The chipboard business showed gradual improvement, with the successful launch of a high moisture resistant chipboard. Financially, consolidated net revenue for Q3 FY26 grew by 17.3% year-on-year to ₹706 crores. Gross margin improved to 55.6%. However, EBITDA margin before exceptional items declined to 9.2% due to higher operating costs and the Naidupeta chipboard unit. For the nine months of FY26, net revenue increased by 15.9% to ₹2,188 crores, while EBITDA grew by 7.5% to ₹227 crores. Net profit for the nine months was ₹15.5 crores, a decrease from ₹66.9 crores in the previous year. Segment-wise, the Laminate and Allied segment saw Q3 revenue grow by 8.1% to ₹562 crores, with EBITDA margin at 14.5%. The Plywood and Allied segment's revenue grew by 9.5% to ₹90 crores in Q3, though it reported an EBITDA loss. The Panel and Allied segment (chipboard) revenue grew by 13.3% quarter-on-quarter to ₹54.2 crores, also reporting an EBITDA loss. Management expressed confidence in achieving the top-line growth guidance of 18-20% for the year. They anticipate that the plywood and chipboard businesses will achieve EBITDA breakeven in the next fiscal year. The company is also managing the impact of US tariffs on laminates by adjusting prices and absorbing some of the cost.
