Buy Century Plyboards (India): target of Rs 250: Sharekhan
Sharekhan is bullish on Century Plyboards (India) has recommended buy rating on the stock with a target price of Rs 250 in its research report dated December 16, 2020.
December 17, 2020 / 01:40 PM IST
Sharekhan's research report on Century Plyboards (India)
Demand environment during November remained healthy post a historically high October 2020. Demand environment contributed almost equally by pent-up demand and structural demand. Near term headwind led by farmer agitation in Northern India majorly on MDF business. FY2022 to benefit from structural demand and low base.Greenfield expansion of MDF in South yet to be firmed up. Century has a robust balance sheet led by minimal debt at low cost and has the ability of healthy cash flow generation.
We retain our Buy rating on Century Plyboards Limited (Century) with a revised PT of Rs. 250, factoring in the upwardly revised estimates led by strong growth outlook and healthy balance sheet.
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