Despite all odd situations in wood and decorative panel industries because of unstable raw materials prices, impact of pandemic etc, the Century Plyboards registered a fantastic growth in its sales and profit in October to December 2021 quarter compare to same period in last year.
“Q3–FY22 ended with the company achieving best ever quarterly sales. We have further tightened our balance sheet in Q3–FY22 by virtue of prudent working capital management. This has not only augmented our war chest for future capex (net cash on books as on December 31, 2021 at Rs 217 crore) but has also enabled us to maintain our high RoCEs despite the high input cost inflation scenario,” said Mr. Sajjan Bhajanka, Chairman, Century Plyboards.
According to the company, 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.