Century Plyboards (India) Limited reported a consolidated net profit of ₹833.04 crore for the quarter ended June 30, 2026, a 57.3% increase year-on-year from ₹529.29 crore in Q1FY26. Consolidated revenue from operations rose 16.6% to ₹1,363.55 crore, driven by higher sales volumes and improved pricing realization across its plywood and laminates portfolio. Standalone net profit also expanded significantly to ₹944.87 crore, up 39.3% from ₹678.19 crore in the corresponding period of the previous fiscal.

The Board of Directors approved the unaudited standalone and consolidated financial results at a meeting held on July 31, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the Statutory Auditors, who expressed an unmodified audit opinion. The filing was made with the stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Consolidated earnings per share stood at ₹3.61, compared to ₹2.33 in Q1FY26. Standalone EPS was ₹4.25, up from ₹3.05 in the prior year period. Total comprehensive income for the consolidated entity was ₹832.77 crore, while the standalone figure was ₹943.35 crore.

What the Numbers Show

The disproportionate growth in net profit relative to revenue indicates an expansion in operating margins. While consolidated revenue increased by 16.6%, net profit surged by 57.3%, suggesting effective cost management and favorable product mix shifts during the quarter. This margin leverage is a key driver of shareholder value creation for the period.

Century Plyboards (India) Limited reported a record consolidated quarterly revenue of ₹1,561.38 crore for the quarter ended June 30, 2026, marking a 33.5% year-on-year increase. The plywood manufacturer’s Profit After Tax (PAT) surged 57% to ₹83.30 crore, up from ₹52.92 crore in the corresponding period last year, driven by robust volume growth across core segments and improved operational efficiency. This performance underscores strong demand momentum despite broader industry headwinds.

The company’s EBITDA margin, excluding forex losses, improved to 13.0% from 12.5% in Q1FY26, reflecting better cost management and higher realisation rates. Standalone net profit rose 39% to ₹944.87 crore, while standalone revenue from operations grew 32% to ₹13,587.24 crore. The Board of Directors, led by Managing Director & CEO Sanjay Agarwal, approved the unaudited financial results on July 31, 2026. The results were reviewed by the Audit Committee and subjected to limited review by the Statutory Auditors.

Segment Performance Highlights

Plywood remained the primary growth engine, with revenue growing 32.4% YoY to ₹854.59 crore and volumes increasing 28.8% to 1,36,995 CBM. The segment delivered an EBITDA margin of 16.9% (excluding forex), supported by healthy margin expansion. Laminates maintained strong momentum, with revenue rising 14.7% YoY to ₹196.24 crore, despite an 8.4% decline in volume due to a shift towards higher-thickness materials. The segment’s EBITDA margin stood at 10.2%.

Medium-Density Fibreboard (MDF) reported a sequential revenue decline of 6.2% to ₹331.73 crore due to a planned shutdown at one plant for capacity expansion, though it maintained strong YoY growth of 28.9%. Particle Board (PB) emerged as a high-growth segment, with revenue surging 159.1% YoY to ₹86.18 crore, driven by a 155.7% increase in volume. However, the PB segment reported negative EBITDA of -₹13.50 crore annually, indicating ongoing investment phase challenges.

Balance Sheet and Working Capital

Total consolidated debt increased to ₹1,644.21 crore from ₹1,531.26 crore in FY26, primarily due to higher short-term bank debt of ₹811.79 crore. Shareholder’s equity rose to ₹2,713.32 crore. The cash conversion cycle improved significantly to 68.86 days from 81.19 days in FY26, indicating better working capital management. Debtor days reduced to 39.62 from 41.77, while inventory days decreased to 39.04 for raw materials and 26.90 for finished goods.

What the Numbers Show

The divergence between volume growth and revenue growth in the laminates segment highlights a successful strategy shift towards premium, higher-thickness products, boosting average selling prices by 26.7% YoY. Meanwhile, the surge in particle board volumes (+155.7%) contrasts sharply with its negative annual EBITDA, suggesting this segment is still in an investment phase where scale is being prioritized over immediate profitability. The overall improvement in EBITDA margins (ex-forex) to 13.0% demonstrates the company’s ability to pass on cost increases and optimize operations across its mature plywood and MDF businesses.