Greenlam Industries, laminate manufacturers and suppliers in India aims to grow revenues by 20-25% in FY25 as new capacity comes on stream.
Saurabh Mittal, MD & CEO of the company said the second half revenue should be better than the first half this year.
Mittal noted that the company faced challenges in Q1 related to exports, particularly due to issues at the Mundra Port. Despite these hurdles, it managed to maintain export realisations and, in fact, gained market share in the process.
The laminates business is on track to maintain Q2 margins and the company has recently opened its fourth laminate plant in Andhra Pradesh.
“We should be able to maintain the Q2 margins and our Gujarat plant is also up and running at near 100% utilisation. We started our fourth laminate plant Andhra Pradesh, which commenced production on the 29th of September, I think that will go through the slides stabilisation phase, but by and large, we think we can sustain the margins of laminates,” he said.
The company reported a revenue growth of 16.5% to ₹603.60 crore, from ₹518 crore in the previous quarter. The company's EBITDA (earnings before interest, taxes, depreciation, and amortization) also grew by 40.8% to ₹75.58 crore, as compared to ₹53.68 crore in the same period last year.
The profit margin improved to 12.5% from 10.4%.
Shares of Greenlam Industries have gained more than 23% over the past month.
(Edited by : Shweta Mungre)
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