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Temporary raw material cost pressure in MDF
View Risks →Century Plyboards (India) Limited — Q2 FY26
Century Plyboards delivered a strong Q2 FY26 with consolidated revenue of ₹1,386 crore (+17.1% YoY) and EBITDA margin of 13.1% (+280 bps YoY), driven by broad-based growth across all segments.
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Century Plyboards delivered a strong Q2 FY26 with consolidated revenue of ₹1,386 crore (+17.1% YoY) and EBITDA margin of 13.1% (+280 bps YoY), driven by broad-based growth across all segments. Plywood revenue hit a record ₹760 crore (+16% YoY), MDF revenue grew 27.9% YoY to ₹343 crore, and laminates posted record revenue of ₹188 crore (+16.6% YoY). The new particle board plant commenced commercial production and is ramping up. Management expects growth momentum to continue, supported by capacity expansions and premiumization. Key risks include temporary raw material cost pressures in MDF and potential capacity constraints in MDF before the line extension in H1 FY27.
सेंचुरी प्लाईबोर्ड्स ने वित्त वर्ष 2026 की दूसरी तिमाही में शानदार प्रदर्शन किया। कंपनी की कुल आय ₹1,386 करोड़ रही, जो पिछले साल से 17.1% अधिक है। कंपनी की कमाई और खर्च के बीच का अंतर (EBITDA मार्जिन) 13.1% रहा, जो पिछले साल से 2.8% बेहतर है। प्लाईवुड से ₹760 करोड़, MDF से ₹343 करोड़ और लैमिनेट से ₹188 करोड़ की रिकॉर्ड आय हुई। नया पार्टिकल बोर्ड प्लांट चालू हो गया है। कंपनी को आगे भी अच्छी बढ़त की उम्मीद है। हालांकि, MDF में कच्चे माल की लागत बढ़ सकती है और अगले साल तक क्षमता की कमी हो सकती है।
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Read Transcript →Quarter Snapshot
Plywood Revenue
₹760 Cr
+16% YoY
Highest ever quarterly revenue for plywood segment, supported by volume growth and distribution reach.
MDF Revenue
₹343 Cr
+27.9% YoY
Highest ever quarterly revenue for MDF, driven by higher volumes and improved plant utilization.
Laminates Revenue
₹188 Cr
+16.6% YoY
Highest ever quarterly revenue for laminates, with encouraging demand in domestic and export markets.
Working Capital Cycle (Standalone)
63 days
-13 days vs FY24
Improved from 76 days at end of FY24, driven by tighter inventory and payable management.
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Guidance and risk preview
Management reiterated guidance of 40% revenue growth for particle board segment, implying ~₹200 crore for the year, supported by ramp-up of new plant.
MDF margins saw a slight moderation due to temporary cost pressures on timber (floods in north) and chemicals (global commodity movements).
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