Manilam Industries

NSE: MANILAM · Plywood Boards/ Laminates

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52W Range₹33 – ₹67

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Snapshot

Unlock Manilam Industries's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Manilam Industries India Limited is a manufacturer and trader specialising in decorative laminates and plywood products. The company primarily serves the interior infrastructure market through a structured distribution network.

Business Model

The company operates on a B2B model, generating the vast majority of its revenue by supplying products to distributors who subsequently cater to retail dealers.

  • B2B Revenue Contribution:99%

Growth Outlook

Growth is driven by the expansion of the decorative laminates and plywood market within the Indian construction and interior design sectors.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of timber and chemical inputs can significantly impact manufacturing margins.
  • Competitive Intensity. The plywood and laminate industry is highly fragmented with significant competition from both organised and unorganised players.
  • Cyclicality of Real Estate. Demand for decorative laminates is closely tied to the performance of the real estate and construction sectors.

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Peers · Plywood Boards/ Laminates

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Manilam IndustriesMANILAM
₹85 Cr———11.0%———
Greenlam Industries LimitedGREENLAM
₹5,813 Cr58.5318.2520.1%11.8%8.1%11.3%-14.9%
Stylam Industries LimitedSTYLAMIND
₹5,687 Cr32.1823.1810.1%20.8%23.2%29.9%+93.1%
Greenply Industries LimitedGREENPLY
₹3,727 Cr38.3514.2314.3%10.3%11.6%16.7%+2.3%
Greenpanel Industries LimitedGREENPANEL
₹2,073 Cr293.6917.3811.6%8.9%0.5%2.1%-46.7%
Rushil DecorRUSHIL
₹492 Cr20.137.797.1%10.6%3.5%7.3%-44.8%

As of Mar 2026

Financials