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Informist, Monday, Oct. 19, 2026

 

By Avishek Rakshit

 

KOLKATA – Century Plyboards India Ltd. is expected to report volume-led growth in its core plyboards business in the September quarter, boosting its top line and supporting bottom-line growth, according to analysts tracking the company.

 

The company, which holds an estimated 29% market share in the country's organised plywood sector, is expected to report 42% on-year growth in consolidated net profit to INR 975 million in the September quarter, according to the average of estimates from 10 brokerages. Sequentially, the net profit is expected to increase 21%. Estimates for the company's net profit vary widely. The highest net profit estimate is INR 1.19 billion from HDFC Securities Ltd. and the lowest is INR 831 million from Prabhudas Lilladher Pvt. Ltd. The company will detail its September quarter results on Nov. 4.

 

With higher sales volume, the company's consolidated sales are expected to rise 22% on year to INR 16.97 billion. Sequentially, revenue is expected to rise 9%. Brokerage estimates for the company's revenue also vary. The highest revenue estimate is INR 17.79 billion from HDFC Securities and the lowest is INR 15.70 billion from Prabhudas Lilladher.

 

In the September quarter of the last financial year, Century Plyboards had reported a consolidated net profit of INR 688.95 million on revenues of INR 13.86 billion. In the June quarter of the current financial year, its net profit was INR 803.01 million and net sales were at INR 15.61 billion. 

 

Century Plyboards is likely to report 20% volume growth on year, with plywood margins expected to expand 190 basis points to 15.8%, Nuvama Wealth Management Ltd. said. The company has implemented price hikes across the board to offset higher raw material costs over the past two quarters. While domestic demand remains promising across segments, elevated freight rates are weighing on exports, Nuvama said. 

 

Prabhudas Lilladher said it expects Century Plyboards' September quarter sales to grow 13.3% year on year, with the plywood business expected to report 15.7% revenue growth and the medium-density fiberboard business posting 14.2% top-line growth in the quarter. However, the brokerage expects the company's earnings before interest, tax, depreciation, and amortisation to contract by 80 basis points to 11.8%. 

 

Century Plyboards is expected to report EBITDA of INR 2.17 billion in the September quarter, according to the average of estimates from nine brokerages. Sequentially, EBITDA is expected to rise 8%. The highest EBITDA estimate is INR 2.42 billion from HDFC Securities and the lowest is INR 1.85 billion from Prabhudas Lilladher.

 

Of the 13 brokerage reports available with Informist, nine recommend a 'buy' on the stock, with an average target price of nearly INR 954, and three recommend a 'hold' at an average target price of INR 786. One brokerage recommends a 'sell' on the stock, with a target price of INR 780. 

 

Monday, the company's shares closed 1.3% lower at INR 664.10 on the National Stock Exchange. The shares are down nearly 17% since Century Plyboards announced its June quarter results in July. 

 

The following are earnings estimates for Century Plyboards for the September quarter from 10 brokerages in descending order of the net profit estimate, in INR billion:

 

Brokerage	Net Sales	Net Profit	EBITDA
HDFC Securities Ltd.	17.79	1.19	2.42
Nuvama Wealth Management Ltd.	17.77	1.11	2.32
Motilal Oswal Financial Services Ltd.	17.23	1.04	2.24
Equirus Securities Pvt Ltd.	17.47	1.03	2.27
SMIFS Ltd.	17.37	0.97	2.22
IDBI Capital Market Services Ltd.	15.85	0.92	2.09
Anand Rathi Share and Stock Brokers Ltd.	16.80	0.92
JM Financial Institutional Securities Pvt Ltd.	16.57	0.88	1.99
ICICI Securities Ltd.	17.18	0.87	2.11
Prabhudas Lilladher Pvt Ltd.	15.70	0.83	1.85
Average	16.97	0.98	2.17

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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