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Century Ply sees better revenue, realisation in Dec quarter
Kolkata, Nov 11 (PTI) The Century Plyboards (India) Ltd is hopeful of improved revenue and realisation in the December quarter as some of its segments benefit from a weak rupee.
The falling rupee has hiked the price of imported medium density fibre (MDF) by 16-17 per cent, which will help the company fetch better realisation from the segment, Century Ply Executive Director Keshav Bhajanka told PTI.
"We are expecting better performance in the third quarter and hopeful of achieving a 16-per cent EBIDTA margin. The MDF division has already started gaining, as it recorded the highest single-month sale in October," he said.
In the quarter ended September, realisation was lower due to increased competition from imported supply hitting the plymaker's sales and margins.
"The management has lowered revenue guidance for MDF for FY2019' (2018-19 fiscal) from Rs 350 crore to Rs 250-300 crore... maintain margins above 12 per cent," a brokerage house Sharekhan said in a recent report.
Bhajanka said the company was also stepping up branding exercise to aid sales of its laminates segment.
He further said that by enforcing stricter e-way bills, Century Ply was looking at an additional growth of five per cent from the next fiscal. PTI BSM RBT PR PR
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