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Century Plyboards – Demand Trend Remains Steady: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Our recent interaction with dealers and industry players indicates that in the ongoing Q2 FY23 (July-September 2022), demand trends remain steady in the wood panel sector led by continuous momentum in the residential market and higher spending on home improvement post the pandemic.

We believe demand will continue to remain healthy going ahead (post the festival season, too) as underlying drivers are intact.

In the ongoing quarter (Q2 FY23), Century Plyboards India Ltd. has not taken any price increase (so far) in its key categories of plywood, laminate and medium density fibre. However, the price hike announced in Q1 for plywood and laminate has been implemented, which will enable margins to remain steady.

In plywood segment, demand for mass market products continues to remain higher as compared to premium products due to the inflationary environment and is likely to remain so in the near term.

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