Shares of Greenlam Industries ended marginally higher on the BSE. The company’s net profit jumped 42.56% to Rs30.95cr in the quarter ended March 2021 as against Rs21.71cr during the previous quarter ended March 2020.
Also, its sales increased 28.18% to Rs415.32cr in the quarter ended March 2021 as against Rs324.02cr during the previous quarter ended March 2020.
Speaking on the financial results Saurabh Mittal, Managing Director and CEO, Greenlam Industries Ltd. said, “We have seen a strong quarter with highest laminate production and sales both in terms of value and volume. This resulted in good financial performance despite headwinds in raw material prices and supply chain constraints. We believe that the unorganized players are facing significant operational challenges in the current business environment which is giving growth opportunities to organized players like us.”
“Undoubtedly the current business environment is uncertain, but we have successfully utilized last year to work on our operating parameters, cost structure and working capital cycles, which has yielded consistent control on operating metrics and balance sheet. With the 2nd wave of pandemic, the business environment remains unpredictable, however, we are hopeful that the situation will continue to improve owing to the vaccination drives and safety SOPs introduced by the government. At Greenlam, it is our constant endeavor to bring the best products to our consumers. That is why we provide Anti-bacteria property as a standard offering on our entire range of Greenlam Laminates and Greenlam Compacts from over 10 years. We continue our commitment to bring to our customers the superior quality, hygienic and germ-free products that aid them to redefine their interior spaces,” Saurabh Mittal added.
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( With inputs from indiainfoline)