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Century Plyboards Q3 FY26 Revenue Rises 18.4% to ₹1,350 Cr; EBITDA Margins Expand to 12.6%
Century Plyboards delivered a robust Q3 FY26 with consolidated revenue growing 18.4% YoY to ₹1,350 crores, supported by strong performance in Plywood and MDF segments. EBITDA margins (ex-forex) improved significantly to 12.6% from 10.7% in the previous year, driven by operating leverage and cost optimization. The company is aggressively expanding, with new capacities in Hoshiarpur and Chennai slated for Q3 FY27 and a massive ₹1,100 crore greenfield project planned for Uttar Pradesh. Management remains optimistic about achieving a ₹12,000 crore revenue target by FY31, representing an 18% CAGR.
Key Highlights
Consolidated revenue grew 18.4% YoY to ₹1,350 crores, with 9-month growth at 17.3%.
Plywood segment revenue increased 14.9% to ₹710 crores with a 15.1% EBITDA margin.
MDF business reported 19.1% YoY revenue growth and margins improved to 12.1%.
Announced a ₹1,100 crore capex for a new unit in Uttar Pradesh with 3 lakh+ CBM MDF capacity.
Particleboard segment achieved its highest-ever quarterly sales of ₹65 crores.
💼 Action for Investors
Investors should focus on the company's ability to maintain MDF margins amidst industry-wide capacity additions and monitor the execution of the UP greenfield project. The stock remains a key beneficiary of the organized shift in the building materials sector and rising urbanization.
Century Ply Q3 Revenue Rises 18.4% YoY to ₹1,350 Cr; EBITDA Margins Expand to 12.6%
Century Plyboards reported a robust Q3 FY26 with consolidated revenue growing 18.4% YoY to ₹1,350 crore, driven by strong demand across all business segments. The company's EBITDA margin (excluding forex) improved significantly to 12.6% from 10.7% in the previous year, supported by higher operating leverage. Plywood and MDF segments remained the primary growth drivers, while the Particle Board segment achieved its highest-ever quarterly sales of ₹65 crore. Management has issued aggressive growth guidance for FY26, particularly for the MDF and Particle Board segments.
Key Highlights
Consolidated Q3 revenue reached ₹1,350 crore, marking an 18.4% YoY and 17.3% 9M growth.
EBITDA (excluding forex) stood at ₹170.5 crore with margins expanding to 12.6% from 10.7% YoY.
Plywood segment revenue grew 14.9% YoY to ₹710 crore with a healthy 15.1% EBITDA margin.
MDF segment delivered 19.1% YoY growth to ₹326 crore, with capacity utilization improving.
Management guidance for FY26 targets 25% growth in MDF and 40% growth in Particle Board segments.
💼 Action for Investors
Investors should take note of the strong margin recovery and robust volume growth across core segments. While the growth outlook is positive, the increasing debt-to-equity ratio (0.66) due to ongoing expansion should be monitored.
Century Plyboards Re-appoints Sanjay Agarwal as MD & CEO for 5-Year Term
The Board of Century Plyboards has approved the re-appointment of Shri Sanjay Agarwal as CEO and Managing Director for a five-year term starting July 1, 2026. Additionally, Shri Ajay Baldawa has been re-appointed as Executive Director (Technical) for a concurrent five-year period. Sanjay Agarwal, with 38 years of experience, holds a significant stake of 2,49,30,460 shares in the company. These re-appointments, subject to shareholder approval, ensure leadership stability and continuity for the firm's strategic operations.
Key Highlights
Shri Sanjay Agarwal re-appointed as CEO and MD for 5 years effective July 1, 2026.
Shri Ajay Baldawa re-appointed as Executive Director (Technical) for 5 years effective July 1, 2026.
MD Sanjay Agarwal holds 2,49,30,460 equity shares, representing substantial promoter-level interest.
Both directors bring extensive industry experience of 38 and 43 years respectively to the board.
💼 Action for Investors
Investors should view this as a positive development for leadership continuity. No immediate action is required as the management remains stable and aligned with long-term growth.
Century Plyboards to Invest Rs 1,130 Cr for New Plywood and MDF Units in Uttar Pradesh
Century Plyboards has approved a significant expansion plan in Uttar Pradesh with a total estimated investment of Rs 1,130 crores. The company plans to add 90,000 CBM of Plywood capacity in two phases and 330,000 CBM of MDF capacity to meet rising demand. With existing Plywood and MDF utilization at 93% and 85% respectively, this capacity addition is crucial for long-term growth. The projects are expected to be commissioned between Q3 FY28 and Q2 FY29, funded through a mix of debt and equity.
Key Highlights
Total capital expenditure of approximately Rs 1,130 crores for Plywood and MDF units
Plywood capacity expansion of 90,000 CBM per year to be completed by Q2 FY29
MDF capacity expansion of 330,000 CBM per year with an investment of Rs 800 crores
Existing Plywood utilization is high at 93%, necessitating the 400,800 CBM base expansion
Strategic location in Uttar Pradesh provides proximity to raw materials and a large customer base
💼 Action for Investors
This is a positive long-term development as it addresses high capacity utilization; investors should monitor the company's debt levels and execution progress over the next 2-3 years.
Century Ply Q3 Consolidated Revenue Rises 18% to ₹1,350 Cr; Plywood Segment Leads Growth
Century Plyboards reported an 18.4% YoY increase in consolidated revenue to ₹1,350 crore for the quarter ended December 2025. Standalone net profit saw a decline of 7.9% YoY to ₹58.77 crore, primarily due to an exceptional charge of ₹7.18 crore for labor code-related gratuity liabilities and higher finance costs. While the Plywood segment showed healthy growth, the Particle Board segment reported a loss of ₹10.5 crore despite a significant revenue jump.
Key Highlights
Consolidated Revenue increased 18.4% YoY to ₹1,35,008 Lacs from ₹1,14,047 Lacs.
Standalone Net Profit stood at ₹5,877 Lacs, down 7.9% YoY from ₹6,384 Lacs.
Plywood segment revenue grew 17% YoY to ₹71,359 Lacs, remaining the core growth driver.
Particle Board revenue jumped 83% YoY to ₹6,536 Lacs, but the segment posted a loss of ₹1,050 Lacs.
Standalone finance costs increased by 92% YoY to ₹1,522 Lacs, indicating higher debt servicing.
💼 Action for Investors
The strong top-line growth is encouraging, but investors should watch for margin recovery in the Particle Board segment and management's strategy to contain rising interest expenses.
Century Ply Q3 Results: Consolidated Revenue Up 18% YoY to ₹1,350 Cr; Net Profit Declines
Century Plyboards reported a strong 18.4% YoY growth in consolidated revenue to ₹1,350.08 crore for Q3 FY26, led by robust performance in Plywood and Particle Board segments. However, standalone net profit declined by 7.9% YoY to ₹58.77 crore, primarily due to rising raw material costs and a one-time exceptional expense of ₹7.18 crore related to new labor code gratuity liabilities. While the Plywood segment remains a steady driver, the MDF and Laminate segments faced significant margin pressure during the quarter.
Key Highlights
Consolidated Revenue from Operations increased 18.4% YoY to ₹1,350.08 crore.
Standalone Net Profit fell 7.9% YoY to ₹58.77 crore, impacted by a ₹7.18 crore exceptional item.
Particle Board segment revenue surged 83% YoY to ₹65.36 crore, showing high growth momentum.
Standalone Finance Costs spiked 92.7% YoY to ₹15.22 crore, indicating higher debt servicing requirements.
MDF segment profit before tax dropped sharply to ₹10.01 crore from ₹24.03 crore in the previous year's quarter.
💼 Action for Investors
Investors should focus on the company's ability to pass on raw material price hikes to protect margins, especially in the MDF segment. While revenue growth is healthy, the rising interest costs and margin contraction suggest a 'Watch' approach until profitability stabilizes.