Q2 2025 Century Plyboards (India) Ltd Earnings Call Transcript
Key Points
- Century Plyboards (India) Ltd (BOM:532548) achieved its highest-ever quarterly top line, with stand-alone revenue increasing by 10.6% and consolidated revenue by 18.7% year-on-year.
- The plywood division reported a significant year-on-year growth of 21.1% with improved EBITDA margins of 15%, despite rising raw material costs.
- The newly established MDF facility in Andhra Pradesh showed remarkable progress, contributing to a 75% year-on-year volume growth in the MDF segment.
- The company anticipates the Andhra Pradesh MDF facility to become EBITDA positive by Q3, with expectations of over 40% value growth.
- Century Plyboards is expanding its PVC board facility in Andhra Pradesh, expected to contribute nearly INR100 crores in revenue over time.
- The Laminate division experienced a year-on-year decline, with EBITDA margins reducing to 7% due to higher marketing expenses.
- Intense competition in the particle board segment continues to pressure average realization and raw material costs.
- The Andhra Pradesh MDF unit faced a 20% lower realization compared to stand-alone operations, impacting profitability.
- The company experienced a ForEx loss, impacting operating metrics, with a consolidated ForEx loss of approximately INR13 crores.
- The laminate segment's stand-alone sales volume was down by 10% year-on-year, with challenges in ramping up the new unit.
Ladies and gentlemen, good day, and welcome to Century Plyboards Limited Q2 FY25 results conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Navin Agarwal, Head, Institutional Equities. Thank you, and over to you, sir.
Good afternoon, ladies and gentlemen. I'm pleased to welcome you to this financial results conference call on behalf of Century Plyboards and SKP Securities.
We have with us Mr. Sanjay Agarwal, MD and CEO; along with Mr. Keshav Bhajanka, Executive Director; Mr. Arun Julasaria, Chief Financial Officer; and Mr. Sumant Wattas, CEO, MDF business. We'll have the opening remarks from Mr. Sanjay Agarwal, followed by a Q&A session.
Thank you, and over to you, Sanjay-ji.
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