Century Plyboards's Q2 Results for Financial Year 2019-20

Century Ply

Century Plyboards's Q2 Results for Financial Year 2019-20

India, November 08, 2019:

India's leading plywood company, Century Plyboards(I) Ltd., today announced its results for the second quarter of FY 19-20.

Highlights:

Net Revenue from operations for the Second Quarter, ending 30th September 2019, was Rs. 589.35 crore; an increase of 4.4% over corresponding period of last financial year(Rs. 564.44 crore)

Profit After Tax for the quarter ending 30th September 2019, was Rs. 52.15 crores; showing an increase of 38% over corresponding period of last financial year (Rs. 37.81 crores)

Laminates and MDF division have performed exceptionally well during the quarter under review

Favourable market conditions, lower commodity prices and better sales volume have led to significant margin improvement.

Business Outlook:

Commenting on the company's performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards(I) Ltd said

"This has been an excellent set of results.

It's been a difficult and challenging business environment, for all manufacturers across the country but I think our foray into Particle Board and MDF has shown phenomenal results. Laminates, we have been able to progress quiet well and as it was indicated earlier, our EBDITA margin have improved substantially. Plywood is currently under lot of pressure but we have been able to maintain volume and profitability, which I think given the current scenario has been a very good achievement. Going forward our target will be to further improve our Plywood performance, in terms of both volume and growth and maintain the same in other product categories as well."