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Greenlam Industries jumps after its arm gets nod for increase in estimated capex for greenfield particle board project at Naidupeta

Greenlam Industries Ltd. | Laminates/Decoratives | Construction & Infrastructure | BSE: 538979 | NSE: GREENLAM

30 May 2024 Evaluate

Greenlam Industries is currently trading at Rs. 594.75, up by 8.25 points or 1.41% from its previous closing of Rs. 586.50 on the BSE.

The scrip opened at Rs. 586.00 and has touched a high and low of Rs. 599.80 and Rs. 581.10 respectively. So far 4620 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 661.65 on 27-May-2024 and a 52 week low of Rs. 358.05 on 01-June-2023.

Last one week high and low of the scrip stood at Rs. 661.65 and Rs. 581.10 respectively. The current market cap of the company is Rs. 7584.90 crore.

The promoters holding in the company stood at 50.98%, while Institutions and Non-Institutions held 16.92% and 32.10% respectively.

Greenlam Industries’ wholly-owned subsidiary -- Greenlam (formerly Greenlam South), has received approval for the increase in estimated capex from Rs 775 crore to Rs 875 crore for its greenfield particle board project at Naidupeta, Andhra Pradesh. The enhanced capex requirement is attributable to cost escalation, addition of certain value-added equipment, currency depreciation and increase in pre operating expenses due to time overrun. The said additional capex will be funded through internal accruals and financial support from Greenlam Industries, which will be spent over a period of next 15 months.

The installed capacity of the project is expected to increase from its initial estimated capacity of 2,31,000 cubic meter to 2,92,380 cubic meter. The project is expected to commence commercial production by Q3 of FY 2024-25. The delay in project commercialisation is largely attributable to delay in civil construction work, supply of equipments and erection thereof. The Board of Directors of the company, at its meeting held on May 28, 2024, has considered and approved the same.

Greenlam Industries is one of the leading laminate manufacturers and Asian market leader in decorative laminates. It is a decorative Laminates manufacturer which ensures superior design, quality and systems.

Greenlam Industries Share Price

224.30 2.25 (1.01%)

17-Apr-2026 16:59 View Price Chart

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Greenlam Industries	224.30
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Greenlam Industries jumps after its arm gets nod for increase in estimated capex for greenfield particle board project at Naidupeta

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