Will do better than last year in Q3 and Q4 of FY21: Century Plyboards
Century Plyboards reported Q2 profits rising over 3 percent and margins expanding to 16.6 percent versus 15 percent same quarter last year. Keshav Bhajanka, executive director of the company, discussed the numbers in detail.
Century Plyboards reported Q2 profits rising over 3 percent and margins expanding to 16.6 percent versus 15 percent same quarter last year. Keshav Bhajanka, executive director of the company, discussed the numbers in detail.
According to him, Q2 has seen very strong growth and has been far better than expectations. “In Q3 we are on course to do better than last year and Q4 again we will do better than last year,” he said.
Speaking about ViroKill ply product, he said, “All our products are now ViroKill. We have always been the innovation leader in the category and this only further reinforced and strengthened our role as the innovation and the market leader in the plywood category.”
Company’s overall margins look better as raw material costs are down. “Going forward you will see margins further improving. Medium-density fibre (MDF) has done phenomenally well. In laminates and plywoods also within this quarter and next quarter, we will see an expansion in margins. We should look at margins at 1 percent higher going forward,” Bhajanka added.
The company is planning to spend Rs 350 crore on 100 percent capacity addition in MDF board. “It will be primarily funded through internal accruals,” he said.
For more, watch video
(Edited by : Bivekananda Biswas)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
EVM row: Meet Ravindra Waikar, Shiv Sena MP at the centre of controversy
Jun 17, 2024 1:26 PM
EVM unlocking controversy in Mumbai North West Lok Sabha seat — What we know so far
Jun 17, 2024 10:25 AM