Greenlam Industries has declared its Standalone & Consolidated Financial Result for the quarter and year ended on 31 March 2019. According to the company's financial results, Greenlam's total income (consolidated) in the financial year 2018 - 19 increased by approx 11 percent to Rs. 1280 crores as compared to the previous year at Rs. 1155 crores. For the fourth quarter, revenue of company's also increased by more than 12 percent to Rs. 360 crores.
Sales of products of every segment of the company also registered the positive growth in FY 18 - 19. Greenlam has registered the increased sales of Laminates, Veneers and all related products in the financial year 2018 - 19 as compared to the previous year. Company's Laminate and allied products segment posted net sales of Rs. 1084 crores and Veneers and allied products earned Rs. 196 crores in FY 2018 - 19. Speaking to Zee media Mr. Saurabh Mittal, Managing Director & CEO, Greenlam Industries said, 'In the laminate segment, the volume growth was largely flattish last year, but its value grew by almost 10 per cent. We were focused primarily on premium products. Veneers segment grew by almost 10 per cent. In case of flooring and door, which had a small base, the volume grew by 50 per cent and 35 - 40 per cent respectively.
“Last year, especially the domestic market, has been a difficult one. So, we grew less in the domestic market and our export business grew by 19-20 per cent. If we look at the point of profit then we were able to maintain the gross margin and EBITDA margin but there was a slight reduction was seen because of an increase in the cost of raw material, which went up due to rupee depreciation. So, last year’s business scenario was difficult, but we were able to maintain our numbers. So, I would like to say that we have posted satisfactory results neither it is too good nor too bad”, said Mr. Mittal.
He states, “I can’t say anything about the ongoing quarter but will be posting an overall growth of around 10-12 per cent, including volume and value, in the financial year 2020. Capacity
addition has been announced in the laminates segment. So, about 12 per cent capacity will be added to the system and it will start producing in the third quarter of the financial year 2020. When it comes to other segments like veneers, floor and doors, then we have enough capacity and that’s why we don’t have any program to add capacity in these segments.”