Century Plyboards delivered robust financial performance in Q3FY26, reporting consolidated revenue of INR 1,350 crores, representing an 18.4% year-on-year growth. The company's EBITDA margin (excluding forex) improved significantly to 12.6% compared to 10.7% in the corresponding quarter last year, driven by higher volumes and operational efficiency gains.

Q3FY26 Financial Performance

The company's strong quarterly results demonstrate sustained momentum across all business segments. On a nine-month basis, FY26 revenue grew 17.3% year-on-year, showcasing consistent performance despite challenging macroeconomic conditions.

Segment-wise Performance Analysis

Plywood Business

The plywood segment achieved quarterly revenue of INR 710 crores with 14.9% year-on-year growth, supported by healthy volume growth and expanded distribution reach. EBITDA margin stood at 15.1%, benefiting from operating leverage and stable input costs.

MDF Segment

The MDF business continued its strong growth trajectory with revenue increasing 19.1% year-on-year. EBITDA margin improved to 12.1% compared to 10.7% in the corresponding quarter last year, driven by higher volumes and improved capacity utilization across plants.

Laminates Division

The laminates segment reported quarterly revenue of INR 183 crores, growing 9.6% year-on-year and 13% on a nine-month basis. EBITDA margin stood at 7.7%, supported by better cost absorption and improved product mix.

Particleboard Segment

With improved capacity utilization and higher sales volumes, the particleboard segment achieved its highest-ever quarterly sales of INR 65 crores, reaching EBITDA breakeven.

Strategic Growth Targets and Expansion Plans

Century Plyboards maintains its ambitious revenue target of INR 12,000 crores by FY31 through consistent 18% annual growth. The company expects FY27 to deliver results similar to or better than FY26, with management expressing confidence in sustaining strong performance momentum.

Capacity Expansion Initiatives

Plywood Expansion:

• Hoshiarpur plant: 60,000 CBM capacity, starting operations with 30,000 CBM in Q3 FY27
• Chennai unit expansion: Increasing total capacity to 150,000 CBM by Q3 FY27
• Uttar Pradesh facility: Planned 120,000 CBM capacity with INR 330 crores investment

MDF Capacity Enhancement:

• Current capacity expansion: Additional 70,000 cubic meters expected in Q1 FY27
• Uttar Pradesh project: Over 300,000 cubic meters capacity with INR 800 crores investment
• Total timeline: 2.5 years from land acquisition

Management Outlook and Market Positioning

The MDF segment continues to show exceptional promise, with management projecting over 25% growth in FY26 and strong performance expected to continue in FY27. The company targets achieving over 15% EBITDA margin in the near term while setting a long-term goal of 20% EBITDA margin.

Management emphasized that pricing in the MDF segment has bottomed out, with expectations of gradual improvement as raw material costs decline due to increased plantation activities across the country. The company's diversified product portfolio, strong brand equity, and expanding distribution network position it well for sustained growth in the building materials and interior solutions industry.

Century plyboards (India) Ltd has announced a key change in its senior management personnel with the resignation of Shri Ashok Kumar Goyal from his position as Plant Head - Hoshiarpur. The resignation takes effect on February 7, 2026, marking the end of his tenure with the plywood manufacturing company.

Resignation Details and Timeline

The company disclosed the resignation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Goyal, who held the position of Senior Management Personnel (SMP), submitted his resignation citing personal reasons.

Personal Reasons Behind Departure

In his resignation letter addressed to the CEO, Goyal explained that family commitments necessitated his departure from the company. He specifically mentioned his inability to continue in his current role due to the need to devote more time to his family. The resignation letter emphasized that this decision was made after thoughtful consideration of his personal responsibilities.

Goyal expressed gratitude for the trust, opportunities, and guidance he received during his tenure with Century Plyboards. He committed to ensuring a smooth handover of all ongoing activities to avoid any disruption to operations.

Company Response and Compliance

Century Plyboards has accepted Goyal's resignation and confirmed that there are no other material reasons for his departure beyond the personal reasons stated. The company secretary, Sundeep Jhunjhunwala, signed the regulatory disclosure on February 7, 2026.

The announcement was made to both major stock exchanges where the company is listed:

• BSE Ltd: Scrip Code 532548
• National Stock Exchange: Scrip Name Centuryply

The disclosure follows the requirements of SEBI Circular No SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and the SEBI Master Circular dated July 11, 2023, ensuring full regulatory compliance in announcing senior management changes.