Greenlam Industries Reports Unaudited ConsolidatedFinancial Results for the quarter ended June 30, 2019

Highlights for the Quarterended June 30,2019

• Net Sales reported at Rs. 289.5 crores, growth of 0.5% onYoY basis

• Laminate domesticbusiness grew by 7.3%on YoY basis

• EBDITAreported at Rs. 29.9 crores, de-growth of 11.4% on YoY basis

• Net Profitreported at Rs. 8.4crores, de-growth of 45.3% onYoY basis

FinancialHighlights forQ1FY20Results - Consolidated

Earnings Highlights

(`in Crore) Q1FY20 Q1FY19 Growth% (y-o-y)

Net Sales 289.5 288.1 0.5%

EBDITA 29.9 33.7 -11.4%

Profit before Tax 16.2 20.9 -22.4%

Profit afterTax 8.4 15.3 -45.3%

Basic EPS(`)* 3.47 6.36

*Not annualized

National, August02, 2019: Greenlam Industries Ltd., leading manufacturers of surfacing products with its flagship brand Greenlam laminates, Decowood premium veneers, Mikasa real wood floors & Mikasa engineered doors & frames, today announced its unaudited consolidated financial results for the first quarter of the financial year 2019-20 ended June 30, 2019.

For the quarter ended on Jun 30, 2019, consolidated net revenues from operations stood flat at Rs. 289.5 crores, as compared to Rs. 288.1 crores in the corresponding quarter of the previous financial year. Domestic laminate business grew by 7.3% in value terms as compared to same quarter last year. Operating Profit de-grew by 11.4% at Rs. 29.9 crores as compared to Rs. 33.7 crores in the corresponding quarter last year. The company recorded a net profit of Rs. 8.4 crores, de-growth of 45.3% as compared to Rs. 15.3 crores in the corresponding quarter last year. 

Speaking about the results Mr. Saurabh Mittal, Managing Director and Chief Executive Officer, Greenlam Industries Ltd. said,“This quarter saw subdued performance as the business was impacted in the first month of the quarter due to the upgradation of ERP systems to SAP S/4 HANA. Operations have been stabilized now and we are looking forward to a sustainable growth in future. This IT upgradation will ensure that we continue our momentum to deliver superior quality products to our consumers with advancements in technology.”

About Greenlam Industries Limited 

Greenlam is among the world’s top 3, Asia’s largest and India’s No. 1 surfacing solutions brand. With its presence in over 100 countries, Greenlam has focused on developing quality products with great passion for innovation. It offers end to end surfacing solutions spread across laminates, compacts, veneers, engineered wooden floors and engineered wooden doors & frames to choose from. With two state-of-the-art manufacturing facilities in the country, it is the first choice of Home Owners, Architects and Interior Designers when it comes to transforming living spaces. And discovering such designs to add that touch of magnificence to your home is as easy as it can be. 

We work in harmony with our environment. Greenlam thinks and acts to save and preserve nature in its pristine form by ethical sourcing of its raw materials from the world over. Coupled with this, the products are Greenguard Certified and Anti-bacterial, thereby ensuring they are environment friendly and safe to use. With robust team of over 14,000 distributors and dealers along with more than 500 sales professionals, Greenlam is just a call away to give your spaces a new look.