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 acros...
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MDF margins saw a slight moderation due to temporary cost pressures on timber (floods in north) and chemicals (global commodity movements). Management expects stabilization in a month.
medium · management_commentaryWith MDF utilization near peak (85% in Q2) and demand growing 15-20%, capacity may be constrained until the line extension in H1 FY27. Management acknowledged internal deliberations but no concrete plan for further expansion.
medium · analyst_questionNew particle board plant is in early ramp-up phase with EBITDA under pressure due to high fixed costs. Achieving 40% revenue growth guidance depends on successful ramp-up to 55-60% utilization in H2.
medium · data_observationWhile quality assurance order has reduced imports, any relaxation could increase competition. Also, unorganized sector remains a large part of the market.
low · management_commentary