Sharekhan is bullish on Century Plyboards (India) has recommended buy rating on the stock with a target price of Rs 213 in its research report dated November 11, 2019.
Sharekhan's research report on Century Plyboards (India)
In Q2FY2020, Century reported healthy growth in net earnings led by strong operational performance in its laminate and MDF divisions. Management retained segment-wise guidance for key verticals with expectations of double-digit revenue growth for FY2020. Management plans to expand MDF and particle board capacities in UP. and expects to commence unit in 12-15 months.
We maintain Buy on Century Ply boards (Century) with an unchanged PT of Rs. 213, owing to attractive valuations and healthy net earnings growth during FY2019-FY2021E.
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