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Last Updated : Jun 03, 2019 04:33 PM IST | Source: Moneycontrol.com

Hold Century Plyboards (India); target of Rs 190: Sharekhan

Sharekhan recommended Hold rating on Century Plyboards (India) with a target price of Rs 190 in its research report dated May 29, 2019.

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Sharekhan's research report on Century Plyboards (India)


Excess MDF capacities, falling plywood volumes and volatile crude prices are key near-term risks. Net earnings were affected by weak operational numbers on lower gross profit margins and higher other expenses. Company aims for double-digit revenue growth y-o-y in FY2020 and improved operating margins. MDF and Particle board capacities set to expand, but will contribute after one year of commencing the work.


Outlook


We maintain our Hold rating with a revised PT of Rs. 190 on account of lower estimates and rolling forward our valuation multiple to FY2021.


For all recommendations report, click here


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First Published on Jun 3, 2019 04:33 pm
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