Hold Century Plyboards (India); target of Rs 710 Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Century Plyboards (India)

For Q2FY2024, Century Plyboards reported better-than-expected standalone revenues, although OPMs lagged, leading to in-line PAT. For H2, management target double digit revenue growth for Plywood and laminate while MDF revenue guidance was upped to 25% y-o-y and particle board expected to remain flattish. Capacity expansion plans in MDF, laminates and particleboards stay on track, while Plywood expansion might get delayed by a quarter.

Outlook

We upgrade Century Plyboards to Hold with a revised price target of Rs. 710, rolling forward our valuation to September 2025E earnings.

For all recommendations report, click here

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Century Plyboards (India) - 12 - 11 - 2023 - khan