Consolidated net revenue in the second quarter grew by 57 per cent to Rs 454.2 crore as against Rs 289.3 in the year-ago period, Greenlam Industries Ltd said in a regulatory filing.
During the period, its laminate business revenues grew by 60.4 per cent in value terms and 46.7 per cent in volume terms on a year-on-year basis, it said.
Greenlam Industries Ltd Managing Director and CEO Saurabh Mittal said, “The current quarter witnessed a substantial top line growth across the laminate and decorative veneer category.”
However, he said steep inflationary increase in raw material costs and supply side disruptions along with time lag in raising prices resulted in lower gross margins.
“Though we have passed on raw material costs to the market, the same has been inadequate considering the rising costs of raw material. We may have to take further price hikes going forward if raw material prices continue to remain elevated,” Mittal added.