Century Plyboards aims 20% CAGR in the next 3 years

Century Plyboards India on Wednesday said it was aiming to grow at 20 per cent over the next three years, a top company official said.

The company was also expanding its capacity in MDF and other products.

"We are attractively placed to capitalise on the projected upturn in the economy and housing sector. On the back of diversified product portfolio, we expect to grow revenues at the rate of 20 per cent compounded across the next three years, around existing margins," Century Ply chairman Sajjan Bhajanka said at the 40th AGM.

The company is in brownfield and greenfield capacity expansions across its plyboards, laminates and MDF businesses.

"We intend to expand our Hoshiarpur MDF facility by adding another line with a capacity of 400 cubic meters per day involving a capex of around Rs 200 to 220 crore, which should go on stream in the first quarter of 2022-23," Bhajanka said.

With this, the company's capacity at Hoshiarpur unit would increase to 3,30,000 CBM per year.

Century is also setting up a new unit in Punjab for manufacturing of veneer and plywood with a capacity of 60,000 CBM per year at a capex of Rs 75 crore.

The company's wholly-owned subsidiary Century Gabon SUARL at Gabon in Africa has also started its commercial production in February this year with an operating capacity of peeling 200 CBM of timber per day, Bhajanka informed the shareholders.