Stylam Industries Limited (STYLAMIND) AI Stock Analysis

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Stylam Industries Limited

(NSE:STYLAMIND)

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Rating:58Neutral

Price Target:INR 3,409.00▲(5.23% Upside)

Action:reiterated

Date:10/29/26

Stylam Industries scores moderately. Its greatest strength is a near-debt-free balance sheet supporting a strong growth record — revenue has more than doubled in five years and ROE remains healthy at 18.5%. Offsetting this, free cash flow has essentially evaporated amid an aggressive capex cycle and is forecast to turn negative, while gross margins have compressed meaningfully from 2023 peaks. Technicals are a further drag, with the price below its short- and medium-term moving averages and a negative MACD, although a low Stochastic reading hints the selling may be maturing. A 28.8x P/E with no dividend leaves valuation demanding relative to current cash generation, capping the overall score.

Positive Factors

Low leverage and strong returnsLow leverage gives Stylam financial resilience and preserves capacity to fund operations or growth without heavy financing costs. Strong ROE indicates that the company has been using its equity base efficiently, supporting durable profitability and balance-sheet strength over the next several quarters.

Negative Factors

Volatile and negative free cash flowUnstable free cash flow reduces the reliability of reported earnings as a source of internally available funds. The negative 2026 result suggests higher reinvestment needs or working-capital swings, potentially limiting flexibility for expansion, debt reduction, or shareholder returns despite healthy profits.

Stylam Industries Limited (STYLAMIND) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 54.94B
Dividend Yield: ―
Average Volume (3M): 3,198
Price to Earnings (P/E): 31.5
Beta (1Y): 0.84
Revenue Growth: 11.48%
EPS Growth: 43.34%
Country: India
Employees: 1,081
Sector: General
Sector Strength: 55
Industry: Paper, Lumber & Forest Products

Stylam Industries Limited Business Overview & Revenue Model

Company Description

Based in Chandigarh, India, Stylam Industries Limited, established in 1991 and previously known as Golden Laminates Ltd., is a leading producer and international provider of decorative laminated sheets. These versatile products serve diverse resident...

How the Company Makes Money

Stylam Industries primarily makes money by manufacturing and selling decorative laminates and related surface products. Revenue is generated through (1) product sales to distributors, dealers, and retailers that supply carpenters, contractors, and mo...

Stylam Industries Limited Financial Statement Overview

Summary

Fundamentals are solid but uneven. The balance sheet is the standout (score 82): the company is effectively debt-free (D/E of 0.055 in FY2025), with equity compounding from ₹2.6bn in FY2021 to ₹6.6bn in FY2025 and an 18.5% ROE. The income statement (score 72) shows revenue more than doubling to ₹10.3bn in FY2025 with net income at ₹1.22bn, though gross margin has slipped from 44.2% in FY2023 to 35.1% and EBITDA margin eased to ~18.8%. Cash flow is the weak link (score 52): free cash flow collapsed from ₹935mn in FY2024 to ₹3mn in FY2025 and is projected negative in FY2026 as heavy capacity capex absorbs nearly all operating cash.

Income Statement

72Positive

Balance Sheet

82Very Positive

Cash Flow

52Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	12.21B	11.29B	10.25B	9.14B	9.52B	6.59B
Gross Profit	4.89B	4.09B	3.60B	3.61B	4.21B	2.21B
EBITDA	2.50B	2.27B	1.93B	1.87B	1.53B	1.08B
Net Income	1.75B	1.50B	1.22B	1.28B	959.80M	608.86M
Balance Sheet
Total Assets	11.27B	9.79B	7.78B	6.07B	5.38B	4.89B
Cash, Cash Equivalents and Short-Term Investments	475.90M	685.83M	499.73M	719.86M	269.30M	20.29M
Total Debt	442.74M	290.89M	360.71M	6.74M	469.30M	794.23M
Total Liabilities	2.30B	1.72B	1.21B	710.52M	1.26B	1.73B
Stockholders Equity	8.97B	8.07B	6.57B	5.36B	4.12B	3.16B
Cash Flow
Free Cash Flow	0	-167.17M	3.03M	934.92M	401.27M	-25.56M
Operating Cash Flow	0	1.75B	1.07B	1.13B	662.07M	123.77M
Investing Cash Flow	0	-1.57B	-1.26B	-208.67M	-123.10M	-360.02M
Financing Cash Flow	0	0	-39.16M	-467.73M	-358.33M	171.43M

Stylam Industries Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price3239.60

Price Trends

50DMA3218.39Positive

100DMA3314.31Negative

200DMA2872.13Positive

Market Momentum

MACD-16.50Negative

RSI55.18Neutral

STOCH94.75Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:STYLAMIND, the sentiment is Positive. The current price of 3239.60 is above the 20-day moving average (MA) of 3097.43, above the 50-day MA of 3218.39, and above the 200-day MA of 2872.13, indicating a bullish trend. The MACD of -16.50 indicates Negative momentum. The RSI at 55.18 is Neutral, neither overbought nor oversold. The STOCH value of 94.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:STYLAMIND.

Stylam Industries Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:STYLAMIND against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:NILKAMAL	68Neutral	INR 32.60B	20.95	―	0.90%	7.60%	52.13%
IN:CELLO	65Neutral	INR 83.21B	26.52	―	0.41%	4.64%	-7.77%
IN:STYLAMIND	58Neutral	INR 55.55B	31.45	―	―	11.48%	43.34%
IN:SFL	57Neutral	INR 64.73B	25.83	―	0.17%	19.60%	336.18%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:GREENLAM	39Underperform	INR 53.82B	62.19	―	0.19%	20.11%	172.93%
IN:HINDWAREAP	39Underperform	INR 14.23B	-232.26	―	―	6.12%	93.53%

* General Sector Average

Performance Comparison

IN:STYLAMIND and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:STYLAMIND	Stylam Industries Limited	3239.60	1229.00	61.13%
IN:CELLO	Cello World Limited	364.20	-247.94	-40.50%
IN:GREENLAM	Greenlam Industries Ltd	210.05	-53.19	-20.21%
IN:HINDWAREAP	Hindware Home Innovation Limited	172.15	-179.00	-50.98%
IN:NILKAMAL	Nilkamal Limited	2229.60	769.58	52.71%
IN:SFL	Sheela Foam Ltd.	594.15	-41.79	-6.57%

Stylam Industries Limited Corporate Events

Stylam Industries Board to Review Unaudited Results and Potential Securities Changes

Oct 26, 2026

Stylam Industries Limited has notified the stock exchanges that its Board of Directors will meet on October 28, 2026 to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2026. The meeting follows a...

Stylam Industries Holds 35th AGM, Confirms Clean Audits and Digital Voting Compliance

Aug 28, 2026

Stylam Industries Limited held its 35th Annual General Meeting on August 28, 2026 via video conferencing and other audio-visual means, with 44 shareholders in attendance and the meeting chaired by Non-Executive Independent Director Sunil Kumar Sood....

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 29, 2026

Stylam Industries Limited AI Stock Analysis