Century Plyboards spurts on incorporating WOS in Kolkata

Century Plyboards jumped 5.35% to Rs 786.85 after the company announced that it has incorporated a wholly owned subsidiary (WOS), Centuryply Furniture Fittings (CFFL), in Kolkata, which will manufacture fittings and fixtures for furniture.

CFFL has been established as a 100% wholly owned subsidiary, with an initial subscription of 50,000 equity shares priced at Rs 10 each. The company received approval from the Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs, on 18 February 2025. The authorized share capital stood at Rs 15,00,000, with a paid-up share capital of Rs 5,00,000.

As a wholly owned subsidiary, CFFL qualifies as a related party to Century Plyboards. However, the initial subscription amount does not fall under the category of related party transactions. Furthermore, the promoters and promoter group of Century Plyboards do not have any personal interest in CFFL.

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.

The companys consolidated net profit fell 7.3% to Rs 58.45 crore in Q3 FY25 as against Rs 63.06 crore posted in Q3 FY24. However, revenue from operations jumped 21.7% to Rs 1,140.47 crore in the quarter ended 31 December 2024.

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