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Stylam Industries

STYLAMIND NSE
₹2,924.50 −6.80 (−0.23%)
P/E
29.26
View as Markdown
MCP
Close 4 Nov 2026 ₹2,924.50 +891.60 +43.9% 1Y
Start ₹2,032.90

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
26.60%
Debt to Equity
0.04
EPS (TTM)
₹99.94
Book Value
₹529.44
Market Cap
—
P/E (TTM)
29.26
P/B
5.52
ROE
19.90%
Dividend Yield
0.09%
EBITDA
₹227 Cr
52W High
₹4,150.00
52W Low
₹1,870.00
Day Range
₹2,881.00 – ₹2,980.00
Volume
23,351

Peer Comparison

Consumer Discretionary › Consumer Goods › Plywood Boards & Laminates › Plywood Boards/ Laminates

Stylam Industries peer comparison
Century Plyboards
₹657.7050.24₹14,747 Cr5.600.15%10.80%11.50%₹5,789 Cr₹298 Cr
Greenlam Industries
₹215.0058.90₹5,446 Cr4.650.19%5.02%8.12%₹3,169 Cr₹93 Cr
Stylam Industries (this company)
₹2,924.5029.26₹4,987 Cr5.520.09%19.90%26.60%₹1,173 Cr₹169 Cr
Greenply Industries
₹260.2532.98₹3,295 Cr3.360.19%11.80%14.30%₹2,863 Cr₹99 Cr
Euro Pratik Sales
₹187.2122.18₹1,754 Cr6.170.12%29.30%36.90%₹374 Cr₹89 Cr
Greenpanel Industries
₹135.32246.04₹1,688 Cr1.230.38%−2.13%−0.40%₹1,561 Cr₹7 Cr
Rushil Decor
₹17.9723.34₹511 Cr0.830.32%1.04%4.50%₹912 Cr₹22 Cr
Median 7 companies₹215.0032.98₹3,295 Cr4.650.19%10.80%11.50%₹1,561 Cr₹93 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

52 Average

Data confidence 98/100

Category scores

Quality
73
Strong
Returns, margins, earnings quality 22% weight
Valuation
35
Poor
Cheap vs sector & own history 24% weight
Growth
44
Weak
Sales & profit trajectory 9% weight
Financial Health
86
Strong
Solvency, leverage, coverage 9% weight
Momentum
59
Good
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company is almost debt free.

Weaknesses

1
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBearish261
Moving AveragesStrong Bearish802

Key readings

RSI (14)
39.65
Neutral
MACD (12,26,9)
−118.41
Bearish
SMA (50)
3,259.88
Bearish
SMA (200)
2,842.60
Bullish

As of

Analyst Rating

Based on 6 analysts
BUY67%

4 of 6 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
4
67%
HOLD
2
33%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+15.64%
5Y+18.66%
3Y+5.85%
1Y+10.15%
TTM+9.94%

Net profit

Net profit growth by window
10Y+28.65%
5Y+22.06%
3Y+15.78%
1Y+22.13%
TTM+39.67%

Operating cash flow

Operating cash flow growth by window
10Y+32.03%
5Y+17.51%
3Y+38.93%
1Y+65.42%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+8.13 pp
5Y−1.14 pp
3Y+3.21 pp
1Y+1.44 pp
TTM+1.83 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹294 Cr
Mar 2018₹339 Cr
Mar 2019₹461 Cr
Mar 2020₹462 Cr
Mar 2021₹480 Cr
Mar 2022₹659 Cr
Mar 2023₹952 Cr
Mar 2024₹914 Cr
Mar 2025₹1,025 Cr
Mar 2026₹1,129 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹20.00 Cr
Mar 2018₹20.00 Cr
Mar 2019₹39.00 Cr
Mar 2020₹19.00 Cr
Mar 2021₹55.00 Cr
Mar 2022₹61.00 Cr
Mar 2023₹96.00 Cr
Mar 2024₹128 Cr
Mar 2025₹122 Cr
Mar 2026₹149 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹68.40 Cr +11.2% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Stylam Industries is a nearly debt-free laminates manufacturer with a market cap of ₹5,417 crore, trading at a P/E of 36.5x. The company has delivered a 10-year profit CAGR of 29% and maintains a consistent ROE of 20-23%, while its recent revenue growth has moderated to 6% CAGR over three years versus 19% over five years.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and low interest burden (interest cost just ₹3.9 crore in FY25 on revenue of ₹1,025 crore)
  • Consistent high ROE averaging 22-23% over 5 and 10 years, with last year at 20%, indicating efficient capital allocation
  • Strong long-term profit compounding at 29% CAGR over 10 years and 22% over 5 years
  • Promoter holding increased by 1.92% in the last quarter (now ~54.1%), signalling insider confidence
  • Stock has delivered 32% CAGR over 10 years and 30% over 5 years, reflecting sustained wealth creation
  • New third laminates plant in Panchkula, Haryana expanding manufacturing capacity, with management targeting 80% utilisation in the next year
  • Export-led growth strategy with management targeting 20% rise in export volumes through regional distribution hubs and North American warehouses
  • Operating profit margin improved to ~18% in FY25 (₹185 crore OPM on ₹1,025 crore revenue), up from ~15.5% five years ago
Bear Case 8
  • P/E of 36.5x is elevated for a building materials company, requiring sustained high growth to justify the valuation
  • Revenue growth has decelerated sharply — 3-year sales CAGR of just 6% versus 19% over 5 years and 16% over 10 years
  • Company does not pay meaningful dividends despite consistent profitability (dividend yield only 0.08%), offering no income return to shareholders
  • P/B ratio of 6.78x is expensive, pricing in significant future growth that may not materialise if revenue stagnation continues
  • TTM revenue growth of 10% is modest relative to the valuation multiple of 36.5x P/E, implying a PEG above 1.5x
  • FY24 saw a revenue decline of ~4% YoY (₹914 crore vs ₹952 crore in FY23), showing vulnerability to demand cycles
  • Capacity expansion via new plant introduces execution risk and could depress return ratios during ramp-up phase
  • Promoter holding at ~54.1% means limited free float (~46%), which can lead to higher stock price volatility on relatively low volumes

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Stylam Industries is undergoing a significant strategic realignment with Japanese partner Aica Kogyo now holding 40% stake and gaining board-level special rights. No operational or financial headwinds are visible in recent news flow. The trend is constructive — a strong foreign strategic investor deepening commitment typically signals confidence in long-term growth and potential for technology/market access synergies. Key monitorable going forward is how the Aica partnership translates into operational improvements and whether promoter holding dilution stabilizes.

Positives 3
  • Aica Kogyo raises stake to 40% Jun 18

    Aica Kogyo acquired an additional 10.13% stake via off-market transaction on June 17, 2026, raising total holding to 40% of paid-up voting share capital. Strategic investor confidence at a significant ownership level.

  • Eight new directors appointed Jun 17

    Board appointed eight directors including Mr. Naruhiro Amada as Executive Director effective June 17, 2026. Articles of association amended to grant special rights to Aica Kogyo, signaling deeper strategic partnership.

  • Investor engagement at forum Jun 9

    Stylam Industries scheduled investor meetings on June 16, 2026 in Mumbai at the Systematix Promoters and Founders Forum 2026, indicating proactive capital market outreach.

Neutral 2
  • Share transfer disclosure revised Jun 30

    Sellers revised disclosures for 27.12% stake transfer to Aica Kogyo. No new transactions occurred; purely a regulatory compliance update.

  • FY26 promoter holding at 54.11% Jun 20

    Promoters held 54.11% equity shares as on March 31, 2026, disclosed under SEBI regulations. Standard periodic shareholding disclosure.

Quarterly Results

₹ Cr
STYLAMIND quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
226
234
215
240
243
263
255
265
283
292
271
283
326
341
Expenses
184
187
167
192
201
208
209
222
230
236
215
228
258
283
Operating Profit
42
47
48
48
42
54
46
43
53
57
56
55
69
57
OPM %
19%
20%
22%
20%
17%
21%
18%
16%
19%
19%
21%
20%
21%
17%
Other Income
1
2
2
0
3
2
2
1
1
1
1
4
1
4
Interest
1
1
1
0
1
4
−1
0
7
2
−7
1
1
1
Depreciation
5
5
6
6
6
5
6
6
5
5
5
6
4
5
PBT
36
43
43
41
38
47
42
38
41
51
59
52
65
55
Tax %
24%
27%
28%
8%
25%
27%
28%
23%
31%
27%
22%
27%
26%
24%
Net Profit
28
32
31
38
28
34
30
29
28
37
46
38
48
42
EPS (₹)
16.39
18.73
18.48
22.16
16.73
20.12
17.94
17.09
16.67
22.03
27.14
22.36
28.41
—

Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
STYLAMIND profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
214
264
294
339
461
462
480
659
952
914
1,025
1,129
1,173
Expenses
191
234
249
290
380
382
380
556
797
730
840
909
937
Operating Profit
23
30
46
50
80
80
99
104
155
184
185
220
236
OPM %
11%
11%
16%
15%
17%
17%
21%
16%
16%
20%
18%
20%
20%
Other Income
0
1
1
2
1
−14
1
8
1
6
7
7
7
Interest
5
6
10
8
11
11
6
8
8
3
4
3.45
−3
Depreciation
4
5
6
11
18
21
23
23
20
22
24
21
20
PBT
14
20
31
33
52
34
71
80
128
164
165
203
227
Tax %
32%
38%
37%
39%
25%
44%
22%
24%
25%
22%
26%
26%
—
Net Profit
9
12
20
20
39
19
55
61
96
128
122
149
169
EPS (₹)
6.43
8.32
13.45
12.31
23.82
11.19
32.72
36
56.61
75.76
71.88
88.19
99.94
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
7%
0%
3%
0%
0%
—

Balance Sheet

₹ Cr
STYLAMIND balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
7
7
7
8
8
8
8
8
8
8
8
8
Reserves
37
49
69
137
177
196
251
308
404
528
649
798
Borrowings
82
117
184
127
189
118
59
79
47
0
36
29
Other Liabilities
24
38
43
56
64
73
89
93
79
69
85
143
Total Liabilities
149
211
303
328
438
395
407
489
538
606
779
979
Fixed Assets
49
56
80
186
233
195
188
179
172
175
177
201
CWIP
31
56
109
0
13
11
0
0
13
2
83
221
Investments
0
0
0
0
1
2
2
2
2
1
1
1
Other Assets
70
99
115
143
191
188
218
308
351
428
517
556
Total Assets
149
211
303
328
438
395
407
489
538
606
779
979

Cash Flow

₹ Cr
STYLAMIND cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
6
11
26
19
28
66
79
6
66
109
107
177
Investing
−12
−38
−77
−8
−53
19
−6
−30
−12
−37
−126
−156
Financing
5
26
51
−11
22
−80
−64
17
−36
−4
−4
−3
Net Cash Flow
−2
0
0
0
−2
5
9
−7
18
68
−23
18
Free Cash Flow
−7
−27
−51
10
−17
42
73
−8
40
95
0
−2
CFO/EBITDA
38
55
74
61
46
104
97
24
59
83
82
104

Ratios

STYLAMIND financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
57
55
58
62
63
69
75
66
48
64
73
67
Inventory Days
71
111
128
117
93
98
106
129
110
112
121
132
Days Payable
37
51
44
68
38
52
76
56
27
29
30
50
Cash Conversion Cycle
92
116
143
111
117
115
105
139
131
147
163
150
Working Capital Days
4
11
−25
10
30
36
71
82
82
108
110
100
ROCE %
16%
18%
19%
15%
20%
17%
24%
25%
32%
34%
27%
27%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Stylam Industries insights

69 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 56.86%
  • Public 22.46%
  • DIIs 10.79%
  • Others 7.28%
  • FIIs 2.62%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Stylam Industries

What does Stylam Industries Ltd do?
Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name “STYLAM” and exports its products primarily to European and South East Asian countries.
Where is Stylam Industries Ltd (STYLAMIND) listed?
Stylam Industries Ltd trades as STYLAMIND on the NSE and under code 526951 on the BSE.
Which sector does Stylam Industries Ltd belong to?
Stylam Industries Ltd is classified under the Consumer Goods sector, in the Plywood Boards & Laminates industry.
What is the PE ratio of Stylam Industries Ltd?
Stylam Industries Ltd trades at a PE ratio of 29.26 as of 4 Nov 2026, on earnings per share of ₹99.94, against a book value of ₹529.44 per share.
What is the 52-week high and low of Stylam Industries Ltd?
Over the last 52 weeks Stylam Industries Ltd has traded between ₹1,870 and ₹4,150 as of 4 Nov 2026.
Does Stylam Industries Ltd pay dividends?
Stylam Industries Ltd has a dividend yield of 0.09%.
What is the Return on Equity (ROE) of Stylam Industries Ltd?
Stylam Industries Ltd reported a return on equity of 19.90%. Its debt-to-equity ratio is 0.04.

Company Information

Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name “STYLAM” and exports its products primarily to European and South East Asian countries. It manufactures a wide range of high-quality decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces and compact laminates.

Website stylam.com
CEO Mr. Jagdish Rai Gupta M.D.
Employees 1,146
Listed 2 Aug 2021
Face Value ₹5

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