Timber price volatility
Timber prices remain elevated, especially for plywood, and any sharp increase could pressure margins. Management noted timber prices are stable but could spike due to monsoons.
CENTURYPLY / Q1-FY26 / risks
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Century Plyboards (India) · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
MDF industry oversupply and pricing pressure
Despite lower imports, MDF industry still faces oversupply with new capacities coming online. Management acknowledged pricing challenges and focus on market share over margins.
Particle board segment recovery delay
Particle board revenue declined YoY and margins remain under pressure due to elevated timber costs and pricing challenges. New plant ramp-up may take time.
Real estate cycle slowdown impact
Analyst raised concern about real estate sales slowdown affecting demand. Management downplayed the risk citing unorganized-to-organized shift, but MDF and particle board could be more exposed.