Expect margin improvement of 100 bps in FY19: Century Plyboards

CLSA note says India's furniture market is undergoing a major shift with a move towards readymade furniture and a rising preference for medium density fibre (MDF) over plywood in line with the global trends.

In an interview to CNBC-TV18, Keshav Bhajanka, ED of Century Plyboards spoke about the MDF market and latest happenings in the company.

We expect Rs 125-130 crore revenue from MDF in FY18, said Bhajanka.

He further said that MDF market in India is estimated to be at Rs 2,000-2,200 crore as of FY18.

Therefore, we expect to have more than 5 percent market share in MDF industry, he added.

According to him, the total MDF production in India is at 1 million cubic metre versus 40 million cubic metre in China.

Talking about business, he said we expect margin improvement of 100 bps in FY19.

For entire interview, watch accompanying video.