Greenlam Profit Grew By 150% in Q1

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Greenlam industries Ltd revenue or sales/income from operations on standalone basis was Rs 306,25 crore during Q1 ended 30 June, 2021, nearly double to its revenue of Rs 148.32 crore during the corresponding period last year increasing by nearly 102%. The total income was Rs 308.13 crore in this quarter from Rs 148.75 crore to the corresponding period last year. The net profit was Rs 14.91 crore this quarter increasing by 150% from Rs 5.72 crore to the corresponding period last year.  

Segment wise the revenue generation of the company; from the laminate and allied products it was Rs 281.85 crore in Q1 FY2021-22 increasing by 112% from the corresponding period last year of Rs 132.20 crore, and from veneer and allied products the revenue generation was Rs 24.40 crore from 16.12 crore last year in the same period. The profit after tax was Rs 18.77 crore from Rs 7.54 crore last year during the corresponding period increasing by 150%.

The company’s manufacturing facility with the capacity of 1.50 million laminate sheets/boards per annum at Naidupeta, Nellore in Andhra Pradesh  by Greenlam South Limited, wholly-owned subsidiary of the Company, the necessary steps are being taken for obtaining required approvals and licenses for the Greenfield Project. Its commercial production is expected to start by Financial Year 2022-23. The Company will continue to closely monitor any material changes to future economic conditions.

 

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