CENTURYPLY / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Century Plyboards (India) · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY26 · 2025-10-30Back to quarter ↗

Questions audited

Answered directly

82%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Kesha Loti · HDFC Securities

direct

Is MDF line extension in H2 on track?

We were planning for a extension line extension on our south plant which will increase capacity by about 25%. We will not do it in H2 of this year. It will most likely happen in H1 of next year.

Kesha Loti · HDFC Securities

partial

Will MDF capacity constrain growth given 80% utilization?

As of now we have healthy utilization levels. It's about 80% across both our plants. In H1 we'll take a line extension which will take our capacity from 5.25 lakh cubic meters to about six lakh cubic meters next year.

Provin Sahai · PL Capital

direct

What drove laminate revenue growth and is it sustainable?

This is a broad-based recovery. It expands both domestic and international operations. Premium mix is something we are pushing and that is impacting realizations positively. It should be sustainable.

Provin Sahai · PL Capital

direct

How will particle board achieve 40% growth after H1 decline?

In Q2 there were about 10,000-11,000 cubic meters of trial sales worth about 23K. If you take that into account, you would have seen expansion growth as compared to Q1. We are confident of the 40% guidance.

Sneighha Talia · Nama

direct

What is the raw material cost impact on MDF and when will it ease?

This quarter there was pressure on both wood and chemicals. In north, supply shortage due to rains and floods. South is stabilizing. On chemicals, we believe this will stabilize in maybe a month or so.

Sneighha Talia · Nama

direct

How is market response to particle board trial runs?

The plant is top-of-the-line continuous line. The boards have received very good feedback. The quality is very robust. We are very confident that selling will not be difficult and we'll be able to ramp up soon.

Amit Purohit · Aara

direct

Any price increases in plywood or MDF and cost pressures?

As far as plywood is concerned, there are no cost pressures. Neither any increase nor reduction in prices. On MDF, we haven't taken any structural price increases or decreases. Cost pressures are temporary.

Amit Purohit · Aara

direct

Why did company outperform despite extended monsoon impact?

We are in an industry where we hardly have any market share, below 10%. So even if total growth is not good, we have headroom. Also quality assurance order stopped imports by 80%.

Rishi · Kotak Mutual Fund

partial

How much scope for MDF margin improvement via product mix?

There's significant way to go in geography and product mix. At steady state with value added max out and temporary RM pressures going away, high teens is a possibility.

Resh (Rishi) · Ret Invest

evasive

Would you choose Chinese or European machines for future MDF line?

We keep a close eye on all technology developments. Whatever machine we put up, we scrutinize and put up the best. It won't be fair to comment on country of origin.

Resh (Rishi) · Ret Invest

evasive

What is net debt and capex outlook for FY26-28?

We have given guidance of growth and EBITDA. It's very easy for you to calculate. We do not like to give a figure. Capex: one plywood factory in Pur is under construction; MDF and plywood we are planning, first get board approval.

Mayul · NMV Securities

direct

What are utilization rates for all segments in H2?

MDF: 80% plus, so far 85%. Particle board: currently 35%, hope to go to 55-60%. Laminate: Joka 80-82%, Budwel 55%, looking to go up 10-15 percentage points. Plywood: all plants above 80-85%.