Sharekhan has given Buy recommendation for Greenlam Industries with a target price of Rs. 1400 in its research report issued on May 28, 2021

Sharekhan’s research report on Greenlam Industries

The company reported strong overall performance for Q4FY2021, as it saw the highest laminate production and increased veneers capacity utilisation. The company continues to generate strong operating cash flows, reduce leverage, and improve working capital requirement. Greenfield capacity at south is expected by FY2023 end, which would lead to next leg of growth.


We retain Buy on Greenlam Industries Limited (Greenlam) with a revised PT of Rs. 1,400, as we see further room for upside considering strong net earnings growth outlook over FY2021-FY2023E.