Century Plyboards slide as PAT slumps 59% YoY in Q2 FY25

Century Plyboards (India) dropped 6.12% to Rs 750.45 after the company's consolidated net profit tumbled 58.74% to Rs 39.96 crore in Q2 FY25 as against Rs 96.86 crore posted in Q2 FY24.

However, revenue from operations grew 18.73% year on year (YoY) to Rs 1,183.62 crore in the quarter ended 30 September 2024.

Profit before tax stood at Rs 58.04 crore in September 2024 quarter, down 55.13% from Rs 129.36 crore posted in same quarter last year.

On segmental front, revenue from plywood and allied products stood at Rs 665.15 crore (up 20.85% YoY), medium density fibre board was Rs 268.38 (up 36.35% YoY), laminate and allied products was at Rs 161.55 crore (down 5.92% YoY), particle board stood at Rs 40.05 crore (up 4.43% YoY) and container freight station services was at Rs 34.37 crore (up 29.99% YoY) during the period under review.

During the quarter, total expenses increased 27.32% YoY to Rs 1,123.12 crore. Cost of materials consumed stood at Rs 624.42crore (up 44.73% YoY), employee benefits expense was Rs 173.32 crore (up 29.02% YoY) while finance costs stood at Rs 17.22 crore (up 179.99% YoY) during the period under review.

On half year basis, the companys consolidated net profit dropped 59.52% to Rs 74.39 crore in H1 FY25 as compared to Rs 183.79 crore recorded in H1 FY24. However, revenue from operations jumped 15.95% YoY to Rs 2,189 crore in H1 FY25.

Meanwhile, the company's board has considered a proposal for setting up a new unit in Punjab for the manufacturing of Resin and Formaldehyde. The estimated investment for this project is approximately Rs 42 crore, with a tentative completion date of September 2026. The planned production capacity will be 200 MTPD (Metric Tons per Day) of Formaldehyde and 250 MTPD of Resin.

Century Plyboards (India) is a manufacturer and distributor of building products. Its portfolio of products comprises plywood, block-board, decorative veneer and timber, particle boards, flush doors, medium density fiberboards (MDF), decorative laminates, pre-laminated boards, and fiber cement boards.

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