Century Plyboards (India) Limited , a leading player in the wood panel industry, has reported a 13.3% year-over-year increase in consolidated revenue for the second quarter of fiscal year 2025-26. The company's performance, however, shows mixed results across segments, with margins facing pressure amid expansion efforts.

Financial Highlights

• Revenue Growth: Consolidated revenue rose to ₹1,385.53 crore in Q2 FY26, up from ₹1,183.62 crore in the same quarter last year, marking a 13.3% increase.
• Profit After Tax: The company reported a consolidated profit after tax of ₹70.94 crore for Q2 FY26, representing a 77.4% increase from ₹39.99 crore in Q2 FY25.
• EBITDA Performance: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q2 FY26 stood at ₹97.87 crore, up 68.6% from ₹58.04 crore in the corresponding quarter of the previous year.
• Margin Pressure: Despite revenue growth, the EBITDA margin declined to 7.1% in Q2 FY26 from 8.4% in Q2 FY25, indicating cost pressures.

Segment Performance

Expansion and Capex

Century Plyboards continues its expansion strategy with significant capital expenditure:

• A ₹600 crore capex plan for MDF and particle board expansion.
• Ongoing projects include a greenfield MDF plant in Andhra Pradesh (₹600 crore budget) and a laminates plant (₹200 crore budget).
• The company has allocated ₹550 crore for a greenfield particle board plant in Chennai.

Management Commentary

Sanjay Agarwal, Managing Director of Century Plyboards, stated, "We have delivered strong top-line growth this quarter, particularly in our core plywood and MDF segments. However, we are experiencing margin pressures due to our ongoing expansion initiatives and market dynamics. We remain focused on operational efficiency and gaining market share in premium wood products."

Outlook

Century Plyboards has provided guidance for 15%+ growth across its plywood, laminates, and MDF segments. The company has set an EBITDA margin target of 13-15% for FY26, indicating an expectation of margin improvement from current levels. The management is focusing on efficiency, cost optimization, and gaining market share in premium wood products to achieve these targets.

Working Capital Management

The company has improved its working capital cycle to 63 days from 76 days, demonstrating better inventory and payable management.

In conclusion, while Century Plyboards shows strong revenue growth and significant improvements in some segments, the company faces challenges in maintaining margins amidst its expansion efforts. The management's focus on efficiency and market share gains in premium products will be crucial for achieving its stated growth and margin targets in the coming quarters.

Century Plyboards (India) Ltd. , a prominent player in the Indian plywood industry, held its 44th Annual General Meeting (AGM) on September 18, 2025, where shareholders approved several significant re-appointments to the company's board of directors.

Key Re-appointments

The AGM saw the approval of four crucial re-appointments:

1. Ajay Baldawa: Re-appointed as Director after retiring by rotation.
2. Nikita Bansal: Re-appointed as Director after retiring by rotation.
3. Sajjan Bhajanka: Re-appointed as Chairman and Managing Director for a five-year term effective April 1, 2026.
4. Keshav Bhajanka: Re-appointed as Executive Director for a five-year term effective January 28, 2026.

Director Profiles

Sajjan Bhajanka

• Age: 73 years
• Experience: 46 years in management, administration, finance, and strategic planning
• Shareholding: 2,42,14,037 equity shares

Keshav Bhajanka

• Age: 36 years
• Experience: 14 years in management, administration, sales, and project implementation
• Shareholding: 25,00,000 equity shares
• Relation: Son of Sajjan Bhajanka

Ajay Baldawa

• Age: 68 years
• Experience: 43 years in production, technical aspects, and project implementation
• Shareholding: 75,000 equity shares

Nikita Bansal

• Age: 36 years
• Experience: 14 years in management, administration, sales, internal communication, and digitization
• Shareholding: 69,200 equity shares
• Relation: Daughter of CEO & Managing Director Sanjay Agarwal

Compliance and Transparency

The company confirmed that none of the re-appointed directors are debarred from holding directorial positions by SEBI or any other authority, ensuring compliance with regulatory requirements.

Other AGM Proceedings

In addition to the director re-appointments, the AGM addressed:

1. Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025.
2. Declaration of dividend on equity shares for the financial year 2024-25.
3. Appointment of M/s MKB & Associates as Secretarial Auditors for a five-year term.

Voting Process

Century Plyboards provided remote e-voting facilities to shareholders from September 13 to 17, 2025, with additional e-voting during the AGM. The voting results are expected to be announced by September 19, 2025.

The AGM was conducted through video conferencing, demonstrating Century Plyboards' commitment to corporate governance and shareholder engagement while embracing digital transformation in corporate practices.