Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name “STYLAM” and exports its products primarily to European and South East Asian countries.It manufactures a wide range of high-quality decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces and compact laminates.[1]
Market LeadershipThe company is thelargest laminate-producing group in India.[1]It is a global pioneer for the‘Hot Coating Process’of PU+ Lacquer coating on thin laminates and also a pioneer in India for Solid Acrylic Surfaces.[2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Century Plyboard | 761.55 | 73.03 | 16919.58 | 0.13 | 70.95 | 72.42 | 1385.53 | 17.06 | 10.38 | 4893.69 | 11.58 | 231.68 | 68.90 | 6.86 | 4.79 | 0.67 |
| 2. | Greenlam Industr | 241.84 | 194.28 | 6170.49 | 0.17 | 31.77 | -6.61 | 808.26 | 18.72 | 7.41 | 2765.86 | 9.98 | 31.76 | 32.33 | 5.43 | 2.33 | 1.03 |
| 3. | Stylam Industrie | 2224.20 | 30.16 | 3769.59 | 0.00 | 37.33 | 9.47 | 292.40 | 11.31 | 27.41 | 1095.18 | 18.12 | 124.97 | 37.33 | 5.21 | 17.56 | 0.00 |
| 4. | Greenply Industr | 248.65 | 37.93 | 3105.33 | 0.20 | 15.98 | -9.25 | 688.57 | 7.51 | 12.36 | 2552.60 | 7.97 | 81.87 | 16.00 | 3.67 | 5.06 | 0.64 |
| 5. | Greenpanel Inds. | 216.60 | – | 2656.11 | 0.14 | -6.12 | -133.08 | 395.97 | 17.54 | 4.48 | 1458.11 | 5.09 | -2.85 | -6.12 | 1.92 | 3.58 | 0.30 |
| 6. | Rushil Decor | 21.49 | 42.01 | 630.55 | 0.47 | 5.97 | -48.53 | 233.24 | 2.02 | 10.13 | 849.73 | 8.40 | 15.01 | 5.97 | 0.99 | 4.01 | 0.44 |
| 7. | Duroply Indust. | 166.60 | 25.71 | 180.73 | 0.00 | 2.41 | 382.00 | 104.49 | 15.06 | 7.23 | 394.20 | 5.24 | 7.03 | 2.41 | 1.19 | 2.45 | 0.52 |
| – | Median: 12 Co. | 154.99 | 39.97 | 405.64 | 0.07 | 3.23 | 1.43 | 204.48 | 16.06 | 8.15 | 742.93 | 8.19 | 7.76 | 3.23 | 2.31 | 3.22 | 0.59 |
Standalone figures in ₹ crores
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 235 | 246 | 234 | 237 | 226 | 234 | 215 | 240 | 243 | 263 | 255 | 265 | 283 | 292 |
Expenses | 200 | 207 | 195 | 196 | 184 | 187 | 167 | 192 | 201 | 208 | 209 | 222 | 230 | 236 |
Operating Profit | 35 | 40 | 39 | 41 | 42 | 47 | 48 | 48 | 42 | 54 | 46 | 43 | 53 | 57 |
Other Income | 0 | 0 | 0 | 1 | 1 | 2 | 2 | 0 | 3 | 2 | 2 | 1 | 1 | 1 |
Profit before tax | 28 | 32 | 32 | 36 | 36 | 43 | 43 | 41 | 38 | 47 | 42 | 38 | 41 | 51 |
Tax % | 24% | 26% | 24% | 26% | 24% | 27% | 28% | 8% | 25% | 27% | 28% | 23% | 31% | 27% |
Net Profit | 21 | 24 | 24 | 27 | 28 | 32 | 31 | 38 | 28 | 34 | 30 | 29 | 28 | 37 |
EPS in Rs | 12.36 | 14.28 | 14.17 | 15.81 | 16.39 | 18.73 | 18.48 | 22.16 | 16.73 | 20.12 | 17.94 | 17.09 | 16.67 | 22.03 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 185 | 214 | 264 | 294 | 339 | 461 | 462 | 480 | 659 | 952 | 914 | 1,025 | 1,095 |
Expenses | 167 | 191 | 234 | 249 | 290 | 380 | 382 | 380 | 556 | 797 | 730 | 840 | 897 |
Operating Profit | 18 | 23 | 30 | 46 | 50 | 80 | 80 | 99 | 104 | 155 | 184 | 185 | 198 |
Other Income | 2 | 0 | 1 | 1 | 2 | 1 | -14 | 1 | 8 | 1 | 6 | 7 | 5 |
Interest | 7 | 5 | 6 | 10 | 8 | 11 | 11 | 6 | 8 | 8 | 3 | 4 | 9 |
Depreciation | 3 | 4 | 5 | 6 | 11 | 18 | 21 | 23 | 23 | 20 | 22 | 24 | 22 |
Profit before tax | 10 | 14 | 20 | 31 | 33 | 52 | 34 | 71 | 80 | 128 | 164 | 165 | 172 |
Net Profit | 7 | 9 | 12 | 20 | 20 | 39 | 19 | 55 | 61 | 96 | 128 | 122 | 125 |
EPS in Rs | 4.68 | 6.43 | 8.32 | 13.45 | 12.31 | 23.82 | 11.19 | 32.72 | 36.00 | 56.61 | 75.76 | 71.88 | 73.73 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 7% | 0% | 3% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
Reserves | 27 | 37 | 49 | 69 | 137 | 177 | 196 | 251 | 308 | 404 | 528 | 649 | 715 |
Borrowings | 73 | 82 | 117 | 184 | 127 | 189 | 118 | 59 | 79 | 47 | 0 | 36 | 0 |
Other Liabilities | 23 | 24 | 38 | 43 | 56 | 64 | 73 | 89 | 93 | 79 | 69 | 85 | 135 |
Total Liabilities | 131 | 149 | 211 | 303 | 328 | 438 | 395 | 407 | 489 | 538 | 606 | 779 | 858 |
Fixed Assets | 51 | 49 | 56 | 80 | 186 | 233 | 195 | 188 | 179 | 172 | 175 | 177 | 195 |
Gross Block | 77.03 | 79.17 | 91.30 | 120.07 | 232.62 | 301.01 | 283.11 | 296.58 | 309.97 | 322.77 | 347.24 | 372.68 | – |
Accumulated Depreciation | 26.33 | 30.52 | 35.01 | 40.38 | 46.95 | 67.54 | 88.15 | 108.76 | 131.24 | 150.98 | 172.20 | 195.45 | – |
CWIP | 20 | 31 | 56 | 109 | 0 | 13 | 11 | 0 | 0 | 13 | 2 | 83 | 163 |
Investments | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
Other Assets | 60 | 70 | 99 | 115 | 143 | 191 | 188 | 218 | 308 | 351 | 428 | 517 | 498 |
Total Assets | 131 | 149 | 211 | 303 | 328 | 438 | 395 | 407 | 489 | 538 | 606 | 779 | 858 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 20 | 6 | 11 | 26 | 19 | 28 | 66 | 79 | 6 | 66 | 109 | 107 |
Cash from Investing Activity | -21 | -12 | -38 | -77 | -8 | -53 | 19 | -6 | -30 | -12 | -37 | -126 |
Cash from Financing Activity | 3 | 5 | 26 | 51 | -11 | 22 | -80 | -64 | 17 | -36 | -4 | -4 |
Net Cash Flow | 2 | -2 | -0 | -0 | 0 | -2 | 5 | 9 | -7 | 18 | 68 | -23 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 52 | 57 | 55 | 58 | 62 | 63 | 69 | 75 | 66 | 48 | 64 | 73 |
Inventory Days | 77 | 71 | 111 | 128 | 117 | 93 | 98 | 106 | 129 | 110 | 112 | 121 |
Days Payable | 45 | 37 | 51 | 44 | 68 | 38 | 52 | 76 | 56 | 27 | 29 | 30 |
Cash Conversion Cycle | 84 | 92 | 116 | 143 | 111 | 117 | 115 | 105 | 139 | 131 | 147 | 163 |
Working Capital Days | -18 | 4 | 11 | -25 | 10 | 30 | 36 | 71 | 82 | 82 | 108 | 110 |
ROCE % | 16% | 16% | 18% | 19% | 15% | 20% | 17% | 24% | 25% | 32% | 34% | 27% |
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Stock Analysis
Stylam Industries Limited is a leading manufacturer of decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces, and compact laminates, operating under the brand name 'STYLAM'. The company has a significant market presence both domestically and internationally, primarily exporting to European and South East Asian countries.
The company is actively expanding its manufacturing capacity with its third laminates plant, slated for operational commencement soon, to cater to increasing global demand. Robust export performance, particularly to European and South East Asian regions, and sustained domestic demand are key drivers for growth. The recent strategic stake acquisition by Japan's Aica Kogyo is also expected to provide synergistic growth opportunities.
Currently no data available for Order Book.
Past performance indicated pressures from input costs, which could pose a risk to margins if not managed effectively. Potential volatility in global trade policies and fluctuating input costs remain ongoing market risks. The company also faces standard compliance and regulatory requirements inherent to listed entities.
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