Century Plyboards India Limited , a leading player in the wood panel industry, has reported a robust financial performance for the first quarter, demonstrating resilience and growth across its business segments.

Strong Revenue Growth

The company achieved a consolidated revenue growth of 16.3% year-on-year, while standalone revenue increased by 6.8%. This performance underscores the strength of Century Plyboards' business model in a competitive market environment.

Improved Profitability

Consolidated EBITDA margin improved significantly to 12.5%, up from 11.2% in the same period last year. This improvement was primarily driven by positive contributions from the company's Badvel plant, which was in its early ramp-up phase during the previous year's corresponding quarter.

Segment-wise Performance

Plywood Segment

• Led the portfolio with a 15.3% year-over-year growth in revenue
• Achieved an EBITDA margin of 13.8%
• Recorded highest-ever sales volume in July

MDF (Medium Density Fiberboard) Segment

• Reported a strong 23.7% year-on-year revenue growth
• Achieved an EBITDA margin of 14.3%, among the highest in the industry
• Improved results reflect better capacity utilization, especially at the Badvel facility

Laminates Segment

• Showed early signs of turnaround with 12.8% year-over-year growth in consolidated revenue
• EBITDA margin stood at 5.9%
• Management is optimistic about continued gradual recovery in coming quarters

Particle Board Segment

• Remains in recovery phase with margin pressure due to elevated timber costs
• Sequential improvement observed over the previous quarter
• New facility in Tamil Nadu commenced commercial production, expected to improve cost structure

Operational Highlights

• Working capital cycle improved from 76 days to 71 days, driven by better management of raw material inventory
• Commercial production at the new particle board plant in Tamil Nadu commenced towards the end of Q1

Management Commentary

Sanjay Agarwal, Managing Director and CEO of Century Plyboards, expressed confidence in the company's long-term strategy, stating, "We remain focused on execution efficiency and innovation across all segments."

Future Outlook

The management maintained a 10% plus growth guidance for the plywood segment and expects continued recovery in other segments. With ongoing infrastructure development and robust demand from furniture and interior decor segments, the company anticipates good growth over the next 3 to 5 years.

Century Plyboards' strong performance reflects its ability to navigate market challenges and capitalize on growth opportunities in the wood panel industry. The company's focus on innovation, capacity expansion, and operational efficiency positions it well for sustained growth in the coming quarters.

Century Plyboards (India) Limited , a leading player in the Indian wood panel industry, has unveiled an ambitious plan to achieve a revenue target of ₹5,000 crore over the next three years. The company aims to reach this milestone by FY2028 through a multi-pronged strategy focusing on expansion and market penetration.

Expansion of MDF Operations

A key component of Century Ply's growth strategy is the expansion of its Medium Density Fiberboard (MDF) operations. The company has identified MDF as a high-growth segment and plans to significantly increase its production capacity in this area. This move is expected to capitalize on the growing demand for MDF in the furniture and interior design sectors.

Leveraging the Housing Cycle

Century Ply intends to take advantage of the current positive trend in the housing sector. With the real estate market showing signs of recovery and increased construction activities, the company is positioning itself to meet the rising demand for wood panels and related products in both residential and commercial projects.

Focus on Exports

To achieve its ambitious revenue target, Century Ply is placing a strong emphasis on increasing its export business. The company plans to expand its presence in international markets, leveraging its reputation for quality and innovation to capture a larger share of the global wood panel market.

Improving Working Capital Management

Century Ply is also focusing on enhancing its operational efficiency through improved working capital management. This initiative is expected to optimize the company's financial resources, enabling it to fund its expansion plans and improve overall profitability.

Q1 FY2026 Performance

The company's recent financial results for Q1 FY2026 show promising signs towards achieving its long-term goals:

Management Commentary

Sanjay Agarwal, CEO & Managing Director of Century Plyboards, commented on the company's performance and future outlook: "Our Q1 FY2026 performance is in line with the guidance we shared previously. The healthy growth in revenue, particularly in our MDF segment, reflects the resilience of our business model and sets a strong foundation for achieving our ₹5,000 crore revenue target by FY2028."

As Century Ply embarks on this ambitious growth journey, the company's focus on expanding its MDF operations, leveraging market trends, boosting exports, and improving operational efficiency positions it well to capitalize on the opportunities in the evolving wood panel industry.