Q3 2026 Century Plyboards (India) Ltd Earnings Call Transcript
Key Points
- Century Plyboards (India) Ltd (BOM:532548) reported a strong year-on-year revenue growth of 18.4% for Q3 FY '26, reaching INR 1,350 crores.
- The company's EBITDA margin improved to 12.6% from 10.7% in the same quarter last year, driven by higher volumes and cost optimization initiatives.
- The Plywood segment achieved a 14.9% year-on-year revenue growth, supported by healthy volume growth and expanded distribution reach.
- The MDF segment saw a revenue increase of 19.1% year-on-year, with improved capacity utilization across plants.
- Century Plyboards is well-positioned for sustained growth with a diversified product portfolio, strong brand equity, and upcoming capacity additions.
- Q3 typically experiences softer demand compared to Q2 due to seasonality associated with the festive period.
- The Laminate segment reported a lower EBITDA margin of 7.7%, despite a 9.6% year-on-year revenue growth.
- The Particleboard segment, despite achieving its highest ever quarterly sales, only reached EBITDA breakeven.
- Concerns were raised about potential price wars in the MDF segment due to significant capacity additions in North India.
- The company faces challenges in predicting exact timelines for capacity expansions and their impact on margins.
Good day, ladies and gentlemen. Welcome to Century Plyboards India Limited's Q3 FY '26 earnings 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, SKP Securities Limited. 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, Mr. Keshav Bhajanka, Executive Director, Mrs. Nikita Bansal, Executive Director along with Mr. Arun Julasaria, CFO, Mr. Navarun Sen, COO, Plywood Business, Mr. Sumant Wattas, CEO, MDF and Particleboard Business; and Mr. Vishu Goel, CEO, Laminates business.
We'll have the opening remarks from Mr. Sanjay Agarwal, followed by a Q&A session. Thank you, and over to you, Mr. Agarwal.
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