Sharekhan is bullish on Century Plyboards (India) has recommended buy rating on the stock with a target price of Rs 190 in its research report dated August 16, 2019.
Sharekhan's research report on Century Plyboards (India)
In Q1FY2020, Century reported strong sequential improvement in OPM across verticals, leading to 49% q-o-q growth in standalone net earnings. Management is confident of achieving 10% revenue growth with 15% EBITDA margin and 11% PBT margin for FY2020. Management plans to expand MDF and particle board capacities by 500 cubic metre/day each, with improving business dynamics.
We upgrade Century Plyboards (Century) to Buy with unchanged PT of Rs. 190, owing to attractive valuation and healthy net earnings growth during FY2019-FY2021E.
For all recommendations report, click here
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