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.

Century Plyboards (India) Limited , a leading player in the wood-based panel products industry, has set ambitious growth targets for the fiscal year 2026, aiming for mid-teens topline growth through strategic capacity expansion across its product segments.

Growth Targets Across Product Lines

Executive Director Keshav Bhajanka outlined the company's segment-wise growth projections:

• Plywood: 10% growth
• Laminates: 20% growth
• Medium Density Fiberboard (MDF): 20% growth
• Particle Wood: 40% growth

These targets are underpinned by planned capacity additions in each product category, reflecting the company's confidence in market demand and its ability to capture a larger market share.

Value Growth to Outpace Volume Growth

Century Plyboards anticipates that value growth will exceed volume growth in the coming years. This expectation is primarily driven by inflation-induced price increases in the plywood and laminates segments. The company's strategy to focus on value growth could potentially lead to improved profit margins.

Regulatory Tailwinds

The implementation of Bureau of Indian Standards (BIS) mandatory quality control norms in August is expected to benefit organized players like Century Plyboards. These regulations aim to ensure product quality and safety standards, potentially creating a more level playing field and possibly reducing competition from the unorganized sector.

MDF Segment Challenges and Operational Efficiencies

Despite facing challenges in the MDF segment due to oversupply, which has limited the company's ability to implement price hikes, Century Plyboards has managed to improve its margins. This improvement has been achieved through:

1. Operational efficiencies
2. Raw material optimization

These measures have resulted in cost savings of nearly 5%, demonstrating the company's ability to adapt to market conditions and maintain profitability.

Recent Financial Performance

For the quarter ended June 30, Century Plyboards reported strong financial results:

This robust performance underscores the company's strong market position and effective execution of its growth strategies.

Market Response

Investors responded positively to the company's growth outlook and recent performance. Century Plyboards' shares closed 4.88% higher at ₹764.00 on Monday, reflecting market confidence in the company's future prospects.

As Century Plyboards continues to expand its capacity and optimize operations, it remains well-positioned to capitalize on the growing demand for wood-based panel products in India. The company's focus on diversified growth across product segments, coupled with its emphasis on operational efficiency, sets a solid foundation for achieving its ambitious mid-teens growth target for FY26.