ICICI Securities: Century Plyboards Q1 Review - MDF, Particle Board Segment Gains Impressive Traction

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.While Q1 FY21 result was largely in-line with our expectations, the key silver lining for Century Plyboards India Ltd. was impressive recovery in medium-density fibreboard / Particleboard segment which delivered positive growth in July 2020.The core segments – plywood and laminate on the other hand are expected to achieve 70-75% of Q2 FY20 sales in Q2 FY21 and normalcy (100%) in Q4 FY21.Higher credit offering to its dealers and timely vendor payments in first quarter led to an increase in working capital requirements which in turn led to a rise in overall debt levels to Rs 2.43 billion (versus Rs 1.88 billion in March 2020).The management indicated that debt has already started descending with strong cash collections witnessed in July 2020..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: Century Plyboards Q1 Review - MDF, Particle Board Segment Gains Impressive Traction

ICICI Securities: Century Plyboards Q1 Review - MDF, Particle Board Segment Gains Impressive Traction

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