Century Plyboards (India) Ltd share Price Today

Forest products firm Century Plyboards (India) announced Q3FY23 results:

• Standalone Q3FY23:
  • Q3FY23 ended with the company achieving quarterly revenue of Rs 877 crore on standalone basis, de-growth of mere 2.6% on QoQ basis despite being a seasonally weaker quarter. Despite softness in chemical prices, CPIL’s overall gross margins were impacted by 90 bps on sequential basis to 32% driven by higher timber prices in particular.
  • The company has posted EBIDTA margins of 15.2%, a drop of 210 bps on sequential basis led by sustained input cost pressure and operating deleverage in laminate and particle board segments.
  • While plywood and laminate EBITDA margins contracted by 180 bps and 310 bps QoQ, we saw EBITDA margin contraction of 280 bps and 810 bps on sequential basis in our MDF and PB segments. The particle board segment EBITDA was impacted the most largely driven by operating deleverage.
  • In the current quarter we did a topline of Rs 877.17 crore as against Rs 848.45 crore in corresponding quarter of last year which shows an increase of 3.4%. At EBITDA level (adjusted for impairment loss) we did Rs 133.47 crore (15.2% margins) as against Rs 157.51 crore (18.6% margins) in Quarter 3 of last year. Profit after tax was at Rs 81.36 crore as against Rs 97.27 crore YoY.
  • In Q3FY23 by virtue of prudent working capital management (improvement by 3 days QoQ). This has not only augmented our war chest for future capex (Net cash on books as on Q3FY23 at Rs 208.48 crore) but has also enabled us to maintain our high RoCEs (23.12% in Q3FY23) despite the high input cost inflation scenario.

Result PDF