In , Stylam Industries Ltd (Plywood Boards/Laminates) is outperforming Nifty 500 with +16.9% relative strength. Fundamentals: Average.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: Promoter Stake: 40-53%
“This investment reflects confidence in Stylam's business governance and long-term growth potential. Beyond capital, this partnership brings success to global technologies.”
What: New Capacity Revenue: ₹700-1000 Cr
“Revenue wise, I think it would be adding around between Rs. 700 crores and Rs. 1000 crores.”
What: Domestic Realization: Increasing
“Margins would definitely be better... because right now, we were selling just commodity items in the domestic market. So, the mix would change.”
What: Export Growth: 30.59% (9M)
“For the nine-month period... exports amounting to approximately Rs. 617 crores against Rs. 543 crores... reflecting a growth of 30.59%.”
What: Environmental Clearance: Pending/Applied
“So, we applied for the EC... it will be operational by the end of March, definitely.”
What: EBITDA Margin of 20.51%
“Despite raw material cost pressure, our EBITDA margin improved to 20.51% for the quarter ended December 2025, compared to 18.07% in the corresponding quarter.”
What: ₹225-250 Crore → ₹320 Crore
“Earlier we were just planning for three presses, so we added another press there to actually complete the plant... that is why the CAPEX went up to this amount.”
Earnings deceleration risks from management commentary
Trigger: Change in US trade policy under the new administration.
Management view: Clients are expected to absorb the duty in their costs; sales expected to resume in February.
Monitor: regulatory
Trigger: Panic situations and logistical disruptions due to regional conflicts.
Management view: Focusing on consistent value increase despite stagnant volumes.
Monitor: geopolitical
Trigger: Global commodity price trends and INR depreciation.
Management view: Natural hedging for exports and planned price increases for the domestic market in April.
Monitor: commodity
Key quotes from recent conference calls
“In Q2 of fiscal year 2026, Stylam Industries Ltd. recorded a 10.16% increase in revenue compared to the same period last year. [Previous Revenue Growth guidance]”
“Beyond capital, this partnership brings success to global technologies, product innovation, and best manufacturing practices, which we believe will further strengthen our competitive position. [Initiative: Partnership with Aica Kogyo]”
“Whatever, we have been doing wrong in the last 30 years due to wrong management. So, it might take 1-2 quarters just to rectify it. [Initiative: Domestic Market Restructuring]”
“And for US, it is right now 50%, as I was there in US last week. So, hopefully by February onwards, they will start reordering everything. [Risk (regulatory): HIGH]”
Headline numbers from the latest earnings call
Revenue
₹271 Crore
Why: The company recorded a turnover of approximately Rs. 271 crores compared to Rs.250.5 crores in the corresponding quarter of the previous year, registering a quarter-on-quarter growth of 6.45%.
Management cited sustained market expansion and ability to meet evolving customer requirements as drivers.
EBITDA
₹55.6 Crore
Why: Improvement was driven by efficient sourcing practices and inventory management despite raw material cost pressure.
Margins expanded by 244 bps year-on-year due to operational efficiencies.
PAT
₹46 Crore
Why: PAT margin improved primarily due to the reduction in forward contact losses from Rs. 10.31 crores to Rs. 2.33 crores.
Significant bottom-line growth was aided by lower forex-related hedging losses.
Other Highlights
• Company remains net debt-free with disciplined capital allocation.
• Export turnover for Q3 stood at ₹198 crores, a 6.75% YoY growth.
• Domestic turnover rose to ₹72.89 crores, reflecting a growth of 5.68%.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Export Revenue % of Total
73%
Why: Exports continue to be the primary driver of the business.
Current Capacity Utilisation
90-95%
Why: Existing facilities are operating near peak capacity, necessitating the new plant.
Laminate Sheets Sold (Quarterly)
3.09 Mn
Why: Growth driven by export demand and domestic recovery.
New Plant Monthly Capacity
10-12 Mn Sqm
Acrylic Solid Surface Sheets Sold
5574
Why: This segment has struggled due to internal family rifts but is now being focused on separately.
9M Export Growth %
30.59%
Why: Strong international demand and market expansion.
9M Domestic Growth %
6%
Why: Modest growth due to historical management issues, now being addressed.
Net Debt
₹0 Cr
Why: Prudent financial management and strong internal accruals.
Forward-looking targets from management for FY27
Capex Plan
₹320 Cr
₹1500-1600 Cr+
Margins would definitely be better due to shift toward value addition products in domestic market.
₹320 Crore
New manufacturing facility in Panchkula, Haryana.
Targeting 75% - 80% plus capacity utilization for the new plant within two years.
Guidance Changes
Capex Amount: ₹225-250 Crore → ₹320 Crore
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +7% | +6% | Stable |
| PAT (Net Profit) | +27% | +16% | Stable |
| OPM | 20.0% | +400 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Stylam Industries Ltd's latest quarterly results (Mar 2026) show
Stylam Industries Ltd's profit is growing with an stable trend.
Stylam Industries Ltd's revenue growth trend is stable.
Stylam Industries Ltd's operating margin is volatile.
Stylam Industries Ltd's long-term compounding rates
Stylam Industries Ltd's earnings growth is stable with weakening on a sequential basis.
Stylam Industries Ltd's trailing twelve month (TTM) performance
Stylam Industries Ltd appears undervalued based on our fair value analysis.
Stylam Industries Ltd's current PE ratio is 28.8x.
Stylam Industries Ltd's current PE is 28.8x.
Stylam Industries Ltd's price-to-book ratio is 5.3x.
Stylam Industries Ltd is rated Average with a fundamental score of 58.85/100. This score is calculated from objective financial metrics
Stylam Industries Ltd has a debt-to-equity ratio of N/A.
Stylam Industries Ltd's return ratios over recent years
Stylam Industries Ltd's operating cash flow is positive (FY2026).
Stylam Industries Ltd currently does not pay a significant dividend (yield 0.00%).
Stylam Industries Ltd's shareholding pattern (Mar 2026)
Stylam Industries Ltd's promoter holding has increased recently.
Stylam Industries Ltd has been outperforming Nifty 500 for 1 consecutive week, indicating early-stage outperformance.
Stylam Industries Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
Stylam Industries Ltd has 7 key growth catalysts identified from recent earnings analysis
Stylam Industries Ltd has 3 key risks worth monitoring
In Q3 FY26, Stylam Industries Ltd's management highlighted
Stylam Industries Ltd's management has provided the following forward guidance for FY27
Stylam Industries Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Stylam Industries Ltd may be worth studying
Stylam Industries Ltd investment thesis summary:
Stylam Industries Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
