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ICICI Securities Maintains 'Hold' On Century Plyboards Post Q4 Results, Cuts Target Price — Here's Why
ICICI Securities maintains Hold with a rolled over target price of Rs 743 (earlier Rs 766), set at unchanged 32x P/E Mar’27E.
03 Jun 2025, 12:41 PM IST 
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Century Plyboards' reported consolidated revenue growth of 13% YoY with plywood / laminate/ MDF segments reporting growth of 9.6%/1.3%/37.2% YoY. (Photo Source: Cottonbro studio /pexels)
Century Plyboards reported Q4 FY25 consolidated revenue growth of 13% YoY. Plywood/laminates/MDF and allied revenues grew 9.6%/ 1.3%/37.2% YoY with volumes up 6.8%/0.5%/39.2% YoY (6-year CAGRs of 10.2%/2.7% / 16.3%), respectively. Consolidated operating profit margin contracted 275 bps YoY to 11.2% (-13bps QoQ), resulting in Ebitda/APAT fall of 9.3%/35% YoY. Plywood margin expanded 30bps YoY while laminates’ margin fell 800bps YoY an...
