India, January 29, 2022: India’s leading plywood company, Century Plyboards (India) Ltd., today announced its results for the third quarter of FY 2021-22.
Highlights:
Net Revenue from operations for the Third Quarter, ending 31st December 2021-22 fiscal, was Rs 848 crore; an increase of 30% over the corresponding period of last financial year (654 crores)
Profit After Tax for the quarter ending 31st December 2021-22 fiscal was Rs. 97.3 crores; showing an increase of 48% over the corresponding period of last financial year (Rs. 65.9 crores)
Plywood, MDF and Particle Board segments have performed significantly well during the quarter under review.
MDF segment in particular has shown significant improvement in profitability driven by product mix improvement and higher realisations.
Business Outlook:
Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards(I) Ltd said “Q3FY22 ended with the company achieving best ever quarterly sales. We have further tightened our balance sheet in Q3FY22 by virtue of prudent working capital management. This has not only augmented our war chest for future capex (Net cash on books as on 31st Dec’21 at Rs 217 crore) but has also enabled us to maintain our high RoCEs (35.6% in Q3) despite the high input cost inflation scenario.”.