Buy Century Plyboards; target of Rs 325: Bonanza
Bonanza is bullish on Century Plyboards has recommended buy rating on the stock with a target price of Rs 325 in its research report dated October 12, 2017.
Bonanza's research report on Century Plyboards
Recently, the stock price of Century Plyboards (India) Ltd. (Century Plyboards) corrected by ~15% from 52-week high of Rs.314 primarily due to demonetization and GST led slowdown. Century Plyboards is India’s largest integrated wood panel producer with the entire gamut of product offerings. It owns India’s largest plywood manufacturing capacity of 210,000 Cubic Meter (CBM). It is the joint leader, with Greenply, in plywood sales with ~25% revenue market share of India’s organised plywood market.Outlook
We value Century Plyboards at 29x FY19E EPS of Rs.11.3 to arrive at target price of Rs.325, an upside of ~22%.
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