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Century Plyboards jumps after incorporating new subsidiary in Indonesia

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Century Plyboards (India) rose 3.49% to Rs 197.10 at 9:37 on after the company said that its Singapore-based subsidiary has incorporated a step-down subsidiary in Indonesia on 3 July 2015.

The company made the announcement after market hours yesterday, 14 July 2015.

Meanwhile, the Sensex was up 184.16 points, or 0.66%, to 28,117.06.

On BSE, so far 16,000 shares were traded in the counter, compared with an average volume of 84,604 shares in the past one quarter.

The stock hit a high of Rs 197.10 and a low of Rs 192.25 so far during the day. The stock hit a record high of Rs 261.75 on 2 March 2015. The stock hit a 52-week low of Rs 78.40 on 8 August 2014.

The stock had outperformed the market over the past one month till 14 July 2015, rising 11.18% compared with 5.71% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 22.04% as against Sensex's 3.83% fall.

The mid-cap company has an equity capital of Rs 22.22 crore. Face value per share is Re 1.

Century Plyboards (India) announced that its wholly-owned subsidiary, Century Ply (Singapore), in has incorporated a step-down subsidiary by the name PT Century Ply Indonesia in Indonesia on 3 July 2015.

The said subsidiary was incorporated with the object of trading in timber, manufacturing and trading in plywood and all wood products and materials and providing related services, Century Plyboards (India) said in a statement.

Net profit of Century Plyboards (India) rose 63.16% to Rs 47.97 crore on 18.97% rise in net sales to Rs 404.94 crore in Q4 March 2015 over Q4 March 2014.

Century Plyboards (India) manufactures, sells, and exports plywood and veneer. The company offers commercial, marine, concrete, shuttering, and decorative plywood.

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First Published: Wed, July 15 2015. 09:29 IST
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