Wood Panels Sector Check - Demand To Remain Healthy; Margins In Plywood To Improve: 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.Wood panel companies under our coverage reported healthy revenue growth in Q1 FY23 aided by continued uptick in the housing market, shift of market from unorganised to organised sector, and wider acceptance of readymade furniture, which has driven demand for the medium density fibre segment. Plywood companies (Century Plyboards India Ltd., Greenply Industries Ltd.) reported revenue growth of 113%/85% YoY (three-year compound annual growth rate of 14.6%/8.9%) and volume growth of 105.9%/79.4% YoY (three- year CAGR of 12%/5.7%) aided by a tepid base. Medium density fibre players (Greenpanel Industries Ltd., Century Plyboards) reported revenue growth of 54.1%/70.9% YoY (three-year CAGR of 38.7%/19.2%) and volume growth of 10.9%/42.3% YoY (three-year CAGR of 17.7%/3.2%). Margins for plywood companies remained under pressure with Century Plyboards/Greenply Industries margins contracting 442 basis points/126 bps QoQ due to higher raw material costs and other expenses. .Click on the attachment to read the full report:.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.

Wood Panels Sector Check - Demand To Remain Healthy; Margins In Plywood To Improve: ICICI Securities

Wood Panels Sector Check - Demand To Remain Healthy; Margins In Plywood To Improve: ICICI Securities

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