Greenlam Industries Q4FY26: PAT ₹40.5cr, 52-week high

Stock jumps to a new 52-week high

Greenlam Industries shares touched a 52-week high in Monday’s intra-day trade after the company reported its January to March 2026 quarter (Q4FY26) earnings. The stock hit an intraday high of ₹280.60 on the BSE, up 19% from the previous close of ₹235.80. The shares also opened about 19% higher versus the previous close, reflecting an immediate market response to the quarterly print. At around 10:15 AM, the stock was still higher by about 14% at ₹269, while the BSE Sensex was up 1.09%.

Separate market snapshots cited in the source material show slight differences in the reported 52-week high and low, which can vary by exchange, time stamp, and data provider. Several feeds list the 52-week high around ₹279.10 to ₹279.40, while Monday’s reported intra-day peak was ₹280.60 on the BSE. The 52-week low was cited around ₹197.59 to ₹198.20.

What the market reacted to in Q4FY26

The key trigger was the sharp year-on-year jump in consolidated profit after tax (PAT). Greenlam Industries reported consolidated PAT of ₹40.5 crore for Q4FY26, versus ₹1.5 crore in Q4FY25. The company operates in plywood boards and laminates, with reported segment performance that showed growth in laminates and in plywood and allied products.

Management commentary pointed to improved traction in the laminate segment, supported by an improved product mix and favourable currency movements. At the same time, the company flagged the reasons for profit being “lower” in context: higher operating costs, forex fluctuations, exceptional items, and higher interest and depreciation related to the chipboard business.

Revenue growth and margin movement

For the quarter ended March 31, 2026, consolidated net revenues from operations rose 25.8% year-on-year to ₹857.7 crore, compared with ₹681.8 crore in the corresponding quarter of the previous year. Gross margin for the quarter improved by 80 basis points to 51.5%, versus 50.7% in Q4FY25.

The operating profit before forex fluctuations and exceptional items increased 57.1% to ₹107.4 crore, up from ₹68.4 crore in the year-ago quarter. The company linked this improvement to operating performance while also acknowledging the impact of forex and exceptional items on reported numbers.

Segment highlights: laminates and plywood and allied products

In the laminate segment, the company reported overall value growth of 14.4% on a year-on-year basis. Management said both domestic and international businesses “grew well,” aided by improved product mix and favourable currency movements. The company described this as reinforcing the benefits of its global footprint.

The plywood and allied products segment, which includes decorative veneers, engineered floors, engineered doors, and plywood, registered 17.9% year-on-year growth. The company has also spoken about a path to improved profitability in newer or ramp-up businesses, with management previously guiding that the plywood and chipboard businesses are expected to achieve EBITDA break-even by FY27.

Raw material cost spike and the company’s response

Management said prices of key raw materials spiked substantially during the quarter due to ongoing geopolitical tensions. It also said prudent supply chain management helped keep the impact of such price volatility minimal.

Separately, the company stated it passed on the entire raw material cost increase to the market in April 2026. This sequence matters for investors tracking margins, because Q4FY26 faced cost pressure during the quarter, while the pricing actions were communicated as being implemented after the quarter ended.

Key numbers at a glance

Price action, levels, and market capitalisation

Along with the 52-week high move, the source text notes that the stock was trading above its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages at the time of reporting. That is typically read as supportive near-term momentum, though it does not change the underlying business results.

Market capitalisation was cited at about ₹6,470 crore in one section and ₹6,487.13 crore in another, reflecting different timestamps or data sources. The trading range for the past year was cited with the 52-week low around ₹197.59 to ₹198.20 and the 52-week high around ₹279.10 to ₹279.40, while Monday’s intraday high on the BSE was reported at ₹280.60.

Longer-term performance: mixed snapshots

The source material includes multiple time-period return snapshots from different dates and platforms. One line says the stock has surged 123.24% over five years, while another dataset shows a 5-year change of 117.46%. For one-year performance, different sections cite movements ranging from a marginal decline (for example, -0.89%) to a small gain (for example, +0.77%), and one table shows -14.21%. These differences likely reflect different “as of” dates, calculation methods, or market data windows.

The common point across the report is that the immediate catalyst was the Q4FY26 earnings release and the sharp year-on-year improvement in PAT, combined with revenue growth and a better gross margin compared with the year-ago quarter.

Why this earnings update matters for investors

The quarter put a spotlight on three operating levers. First, revenue growth of 25.8% year-on-year indicates stronger scale in the period, with laminates and plywood and allied products both reporting growth. Second, gross margin improved to 51.5%, showing better profitability at the gross level even as management flagged raw material inflation during the quarter.

Third, the commentary around forex fluctuations, exceptional items, and higher interest and depreciation for chipboard suggests that below-the-line factors can still influence reported profitability. Investors tracking FY27 targets may also focus on the previously stated guidance that plywood and chipboard businesses are expected to reach EBITDA break-even by FY27.

Conclusion

Greenlam Industries’ stock hit a 52-week high after Q4FY26 results showed consolidated PAT of ₹40.5 crore on net revenue of ₹857.7 crore, with gross margin improving to 51.5%. Management flagged raw material volatility during the quarter and said it passed on the full cost increase in April 2026, while reiterating longer-term progress goals including EBITDA break-even for plywood and chipboard by FY27.