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CenturyPlyboard has revised its revenue growth target upwards to 25%, a decision driven by robust financial performance and strategic acquisitions. The company, with a net worth of Rs 2,048.16 crore and a debt/equity ratio of 0.12, has experienced significant growth in recent times.
On Tuesday, November 7, 2023, CenturyPlyboard reported a strong performance for Q2 FY24 ending September 30, 2023. The company’s net consolidated total income grew to Rs 1,011.41 crore and profit after tax rose to Rs 97.11 crore. Blended EBIDTA margins hit 15.1%, and MDF revenue increased to Rs. 196.67 crore, aided by an arrear electric subsidy of Rs 7.75 Crore.
The company’s September 2023 net sales increased by 9.71% to Rs.996.84 crore from September 2022’s Rs.908.60 crore, and its quarterly net profit rose by 2.95% to Rs.96.86 crore from last year’s Rs.94.08 crore in the same month, while EBITDA jumped from Rs143 .39 crore to Rs158.87 crore on Wednesday, November 8, 2023.
The EPS also saw a rise from Rs.4.23 to Rs.4.36 during this period, reflecting the company’s improved profitability.
In August of this year, Century Plyboards made a strategic acquisition of Pacific Plywoods for Rs 4.60 crore, turning it into a wholly-owned subsidiary and gaining Rs 5.02 crore in net assets.
As of November 08, 2023, the shares were valued at 655.35, with six-month returns of 22.27% and annual returns of 11.75%, demonstrating the company’s strong performance in the stock market.
Looking ahead, Century Plyboards has reappointed Rajesh Kumar Agarwal as the executive director for another five-year term, effective from February 9, 2024. This move is seen as a vote of confidence in Agarwal’s leadership and strategic direction for the company.
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