Century Plyboards - Near-Term Outlook Remains Tepid: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.We recently interacted with the management of Century Plyboards India Ltd. The management indicated demand has improved QoQ in Q4-to-date for plywood, remained steady for medium density fibre (due to lack of additional capacities) whereas in laminates it continues to remain tepid.Century Plyboards has expanded its MDF brownfield capacity by ~70% at Hoshiarpur (Punjab) which has been commissioned in early-March 2023 and is expected to ramp-up from Q1 FY24 and thus aid growth for the company from this segment. Century Plyboards has taken a price increase of ~2% in plywood segment in the ongoing quarter (Q4 FY23) due to increased cost of timber whereas in other segments there have been no material price changes. Timber cost remains elevated and will likely keep margins subdued in the near term. The company faces near-term demand (due to inflationary environment) and margin headwinds (due to increased cost of timber)..Click on the attachment to read the full report:.Mayur Uniquoters - Bullishness Reloaded; Healthy Growth Lies Ahead: ICICI Direct.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Century Plyboards - Near-Term Outlook Remains Tepid: ICICI Securities

MDF’s near-term headwinds are likely to continue due to higher imports.

Choose a plan