We just lately interacted with the administration of Century Plyboards India Ltd. The administration indicated demand has improved QoQ in This fall-to-date for plywood, remained regular for medium density fibre (as a consequence of lack of extra capacities) whereas in laminates it continues to stay tepid.
Century Plyboards has expanded its MDF brownfield capability by ~70% at Hoshiarpur (Punjab) which has been commissioned in early-March 2023 and is anticipated to ramp-up from Q1 FY24 and thus support development for the corporate from this phase.
Century Plyboards has taken a worth enhance of ~2% in plywood phase within the ongoing quarter (This fall FY23) as a consequence of elevated price of timber whereas in different segments there have been no materials worth modifications.
Timber price stays elevated and can probably hold margins subdued within the close to time period. The corporate faces near-term demand (as a consequence of inflationary atmosphere) and margin headwinds (as a consequence of elevated price of timber).
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