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Last Updated : Jul 01, 2020 10:32 AM IST | Source: Moneycontrol.com

Buy Century Plyboards (India) target of Rs 145: Sharekhan

Sharekhan is bullish on Century Plyboards (India) has recommended buy rating on the stock with a target price of Rs 145 in its research report dated June 29, 2020.

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Sharekhan's research report on Century Plyboards (India)


In Q4FY2020, Century’s revenues were affected by loss of sales during peak period of March 2020 affected by COVID-19 related lockdown. Adjusted net profit boosted by higher OPM and lower adjusted interest costs. The management expects clarity on MDF and Particle board expansion in three months which had been affected by green bench quashing licenses issued by U.P. government. The company has improved its balance sheet health with reduction in debt and improvement in working capital.



Outlook


We retain our Buy rating onCentury Plyboards (Century) with a revised PT of Rs. 145,considering attractive valuation post factoring downward revision in earnings estimates for FY2021-FY2022.





For all recommendations report, click here

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First Published on Jul 1, 2020 10:32 am
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