Century Plyboards Says Rural Slump Hasn't Hurt Demand
The demand environment has been sluggish due to the interest rates shooting up and burdening consumers with rising EMIs.
Century Plyboards India Ltd. expects a double-digit growth in the future even as margins continue to remain under pressure, Executive Director Keshav Bhajanka said.
Margins should normalise in the next one or one-and-a-half year, Bhajanka told BQ Prime's Niraj Shah in an interview. "...even in the sluggish demand environment, I see a very good potential for growth."
The demand environment has been sluggish due to the interest rates shooting up and burdening consumers with rising EMIs, but the company hasn't witnessed a slowdown, according to Bhajanka.
"Even though there was a hit on the consumption, fortunately for the company, we have been able to sail through that wave with quite a bit of comfort."
While the rural economy has lagged the urban regions in recovery post the pandemic, Bhajanka said the plyboard industry has "not seen any slowdown" in rural spends.