Greenlam Indus Valuation Multiples

Greenlam Indus is valued at $568M as of October 2026, a 1.9x revenue multiple. In the last 12 months, Greenlam Indus revenue was $352M and Greenlam Indus EBITDA was $39M.

Greenlam Indus Overview

About Greenlam Indus

Greenlam Industries makes decorative laminates, veneers, engineered wood flooring, door products and panels. It sells under the Greenlam and Mikasa brands through a large distributor network in India and exports to many countries. It is one of the largest laminate makers in the world by volume. It is headquartered in Bengaluru.


Founded

2013

HQ

India

Employees

8.8K

Financials (LTM)

Revenue: $352M
EBITDA: $39M

EV

$679M

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Greenlam Indus Financials

Greenlam Indus reported last 12-month revenue of $352M and EBITDA of $39M.

In the same LTM period, Greenlam Indus generated $181M in gross profit, $39M in EBITDA, and $12M in net income.


Greenlam Indus P&L

In the most recent fiscal year, Greenlam Indus reported revenue of $316M and EBITDA of $34M.

Greenlam Indus is profitable as of last fiscal year, with gross margin of 52%, EBITDA margin of 11%, and net margin of 2%.

See analyst estimates for Greenlam Indus
LTMLast FY202320242025202620272028
Revenue$352M$316M$230M$258M$303M
Gross Profit$181M$163M$114M$130M$156M
Gross Margin51%52%49%50%51%
EBITDA$39M$34M$31M$30M$33M
EBITDA Margin11%11%13%12%11%
EBIT Margin7%6%9%7%6%
Net Profit$12M$6M$14M$9M$6M
Net Margin3%2%6%4%2%
Net Debt-$107M---

Financial data powered by Morningstar, Inc.

Greenlam Indus Stock Performance

Greenlam Indus has current market cap of $568M, and enterprise value of $679M.


Greenlam Indus' stock price is $2.23.

Greenlam Indus share price decreased by 0.1% in the last 30 days, and by 25.6% in the last year.

Greenlam Indus has an EPS (earnings per share) of $0.02.

See more trading valuation data for Greenlam Indus
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$679M$568M-2.1%-0.1%-15.4%-25.6%$0.02

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Greenlam Indus Valuation Multiples

Greenlam Indus trades at 1.9x EV/Revenue multiple, and 17.3x EV/EBITDA.

See NTM and 2027E valuation multiples for Greenlam Indus

Greenlam Indus Financial Valuation Multiples

As of October 22, 2026, Greenlam Indus has market cap of $568M and EV of $679M.

Greenlam Indus has a P/E ratio of 49.2x.

LTMLast FY202320242025202620272028
EV/Revenue1.9x2.2x2.9x2.6x2.2x
EV/EBITDA17.3x19.9x22.1x22.3x20.6x
EV/EBIT28.2x33.1x32.0x36.8x34.5x
EV/Gross Profit3.7x4.2x6.0x5.2x4.4x
P/E49.2x95.6x39.6x61.9x90.2x
EV/FCF34.0x61.3x(14.5x)(30.2x)134.0x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Greenlam Indus Margins & Growth Rates

Greenlam Indus grew revenue by 20% and EBITDA by 28% in the last fiscal year.

In the most recent fiscal year, Greenlam Indus reported gross margin of 52%, EBITDA margin of 11%, and net margin of 2%.

See estimated margins and future growth rates for Greenlam Indus

Greenlam Indus Margins

Last FY202420252026202720282029
Gross Margin52%50%51%51%
EBITDA Margin11%12%11%11%
EBIT Margin6%7%6%7%
Net Margin2%4%2%4%
FCF Margin4%(9%)2%5%

Greenlam Indus Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth20%12%17%20%
Gross Profit Growth18%14%20%19%
EBITDA Growth28%(1%)8%25%
EBIT Growth36%(13%)7%32%
Net Profit Growth163%(36%)(31%)110%
FCF Growth72%(52%)(123%)238%

Data powered by FactSet, Inc. and Morningstar, Inc.

Greenlam Indus Operational KPIs

Greenlam Indus' revenue per employee in the last FY averaged $0.0M, while opex per employee averaged $0.0M for the same period.

Greenlam Indus' Rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Greenlam Indus' Rule of X is 61% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for Greenlam Indus
LTMLast FY202320242025202620272028
Rule of 4026%31%---
Bessemer Rule of X49%61%---
Revenue per Employee-$0.0M---
Opex per Employee-$0.0M---
S&M Expenses to Revenue-11%11%11%11%
G&A Expenses to Revenue-1%2%2%1%
Opex to Revenue-45%40%43%45%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Greenlam Indus Competitors

Greenlam Indus competitors include Stylam Industries, Limbach Holdings, Janus International, XMax, Insteel Industries, Saudi Ceramic, Betterware de Mexico, Adentra, Italtile and Schweiter Technologies.

Most Greenlam Indus public comparables operate across Building Products and Home & Decor.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Stylam Industries$119M$24M4.7x4.1x23.7x20.5x
Limbach Holdings$647M$69M1.0x0.8x9.0x7.7x
Janus International$884M$159M1.1x1.1x6.3x6.4x
XMax$17M($3M)31.3x-(172.2x)-
Insteel Industries$648M$70M0.9x0.8x8.1x9.5x
Saudi Ceramic$397M$107M2.0x1.9x7.4x10.3x
Betterware de Mexico$770M$142M1.3x1.1x7.1x5.6x
Adentra$2.2B$195M0.5x0.5x6.2x6.4x

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Greenlam Indus VC Funding History

Before going public, Greenlam Indus raised $5M in total equity funding, across 1 round.


Greenlam Indus Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Mar-15Series AWestbridge Capital$5M-Greenlam Industries is a manufacturer of decorative laminates and engineered wood flooring, spun off from Greenply Industries via demerger and listed in early 2015. It holds an 18% share of India's organised laminate market within a H4,200 crore industry. The company invested over H200 crore in capacity expansions leading up to 2014-15, achieving 110% capacity utilisation at its Behror plant with 5.34 million sheets per annum installed capacity. In March 2015, Westbridge Capital increased its stake in Greenlam from 9.85% to 12.86% by acquiring 726,342 shares for Rs 33 crore ($5.3 million) in an off-market transaction. This followed the demerger share allocation and mirrored Westbridge's similar stake hike in Greenply to 12.86%. For FY2014-15 (ended March 31, 2015), Greenlam reported revenue of H745.16 crore and EBITDA of H75.42 crore. The company neared completion of its H250 crore capex program by end-2015, positioning for growth through debt moderation and incremental revenues from expansions like 1 million sqm engineered wood flooring capacity.

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About Greenlam Indus

When was Greenlam Indus founded?Greenlam Indus was founded in 2013.
Where is Greenlam Indus headquartered?Greenlam Indus is headquartered in India.
How many employees does Greenlam Indus have?As of today, Greenlam Indus has over 8K employees.
Who is the CEO of Greenlam Indus?Greenlam Indus' CEO is Saurabh Mittal.
Is Greenlam Indus publicly listed?Yes, Greenlam Indus is a public company listed on Bombay Stock Exchange.
What is the stock symbol of Greenlam Indus?Greenlam Indus trades under 538979 ticker.
When did Greenlam Indus go public?Greenlam Indus went public in 2015.
Who are competitors of Greenlam Indus?Greenlam Indus main competitors include Stylam Industries, Limbach Holdings, Janus International, XMax, Insteel Industries, Saudi Ceramic, Betterware de Mexico, Adentra, Italtile, Schweiter Technologies.
What is the current market cap of Greenlam Indus?Greenlam Indus' current market cap is $568M.
What is the current revenue of Greenlam Indus?Greenlam Indus' last 12 months revenue is $352M.
What is the current revenue growth of Greenlam Indus?Greenlam Indus revenue growth (NTM/LTM) is 15%.
What is the current EV/Revenue multiple of Greenlam Indus?Current revenue multiple of Greenlam Indus is 1.9x.
What is the current EBITDA of Greenlam Indus?Greenlam Indus' last 12 months EBITDA is $39M.
What is Greenlam Indus' EBITDA margin?Greenlam Indus' last 12 months EBITDA margin is 11%.
What is the current EV/EBITDA multiple of Greenlam Indus?Current EBITDA multiple of Greenlam Indus is 17.3x.
What is the current FCF of Greenlam Indus?Greenlam Indus' last 12 months FCF is $20M.
What is Greenlam Indus' FCF margin?Greenlam Indus' last 12 months FCF margin is 6%.
What is the current EV/FCF multiple of Greenlam Indus?Current FCF multiple of Greenlam Indus is 34.0x.
How many companies Greenlam Indus has acquired to date?Greenlam Indus hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Greenlam Indus has invested to date?Greenlam Indus hasn't invested in any companies yet (or none have been disclosed publicly).

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