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Buy Century Plyboards (India): Target Of Rs 215: Sharekhan

Sharekhan is bullish on Century Plyboards (India) recommended buy rating on the stock with a target price of Rs 215 in its research report dated November 11, 2020.

Nov 13, 2020 / 12:31 PM IST
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Sharekhan's research repor on Century Plyboards (India)

Q2FY2021 numbers beat expectations considering shift recovery in revenues along with sharp rise in OPM, led by exceptionally strong performance from the MDF segment. September sales equate same period last year, while October is said to be historical. Management has retained its guidance on possible uncertainties by the second wave of Covid-19 pandemic. Steep de-leveraging and normalising of working capital. The company expects to be debt free by FY2021 end. Greenfield expansion of MDF in South to be firmed up by December 2020.


We retain our Buy rating on Century with a revised PT of Rs. 215, as we see further room for an upside considering its strong growth outlook and healthy balance sheet.

For all recommendations report, click here

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Broker Research
first published: Nov 13, 2020 12:31 pm

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