External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We met the Greenlam Industries management. It highlighted that Q1 laminates industry demand was subdued, though prices were stable.</li><li>For FY26, the company expects 18-20% consolidated revenue growth.</li><li>Management anticipates improved margins for laminates and veneers in FY26, with laminate EBITDA margins expected at 14-15%, while plywood segment losses are expected to decrease. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We met the Greenlam Industries management. It highlighted that Q1 laminates industry demand was subdued, though prices were stable.For FY26, the company expects 18-20% consolidated revenue growth.Management anticipates improved margins for laminates and veneers in FY26, with laminate EBITDA margins expected at 14-15%, while plywood segment losses are expected to decrease. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Greenlam Industries: 파티클보드 시장 진출로 수익성 하락. ADD 유지