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.
![<div class="paragraphs"><p>(Image source: Century Plyboards website)</p></div>](https://media.assettype.com/bloombergquint%2F2023-03%2Feb2b04a0-fe18-41b4-a4cf-65bc9eeaaf5f%2FCentury_Ply.jpg?auto=format%2Ccompress&w=200)
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.