Kolkata, November 13, 2024: CenturyPly, a leading seller of multi-use plywood and decorative veneers in India, announced their Q2 results today for the quarter ending 30th September 2024.
Highlights:
Net Revenue from operations for the Quarter, ending 30th September 2024 were Rs 1063 crs; an increase of 10.6% over corresponding period of last financial year.
Earnings before Depreciation Interest and Tax stood at Rs 134.4 crs
Profit After Tax stood at Rs 75.7 crs
Business Outlook:
Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards (I) Ltd said, “The Q2 results for FY 25 are consistent with our expectations. Year-over-year, standalone results indicate a robust growth of 10.6% and on consolidated basis, a growth of 18.7% in revenue. Despite experiencing cost pressures from rising raw material prices, the EBITDA margin for the Plywood segment has improved due to a favorable product mix and increased volumes. We have initiated commercial production of all product lines, including MDF, laminate, and PVC, at our Century Panel Badvel facility. Although we faced initial challenges typical of a new plant, we are progressively increasing production. The new MDF plant has contributed to an almost 75% growth in volume for MDF. MDF revenue has grew by 36.4% in Q2 Y-o-Y.”
Concurrently, the company is preparing its ESG report and plans to implement a plyboard expansion model in Chennai by March 2025. The company is deeply committed to sustainability and has implemented various measures to ensure that environmental sustainability is upheld. Recently, the brand launched its annual CSR campaign, Century Heroes, emphasizing on a more inclusive environment for individuals with disabilities.
The company's steady growth has led to significant revenue increases, and it aims to optimize and expand capacity wherever opportunities arise.
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