CENTURY PLYBOARDS (I) LTD

Manufactures and sells wood-based building panel products, led by plywood which accounted for 62.9% of segment revenue in FY26 at ₹2,921.32 crore with a 14.0% EBIT margin. Other segments are medium density fibre board (MDF) at 17.3% of segment revenue (₹804.84 crore, 7.4% EBIT margin), laminates at 13.4% (₹624.81 crore, 6.3% EBIT margin), particle board at 4.3% (₹200.39 crore, -16.1% EBIT margin), and others at 2.1%. Plywood capacity ran at approximately 99% utilization in FY26, with a 30% capacity expansion underway including a new Hoshiarpur plant (48,000 CBM) targeted for H2 FY27 and brownfield additions. MDF also has a brownfield expansion adding 60,000–70,000 CBM at Chennai and ran at 80–85% utilization; laminates posted a turnaround with EBIT margin rising to 6.3% in FY26 from 5.2% the year before. A new resin manufacturing unit at Naidupeta, Andhra Pradesh (step-down subsidiary Century Adhesives & Chemicals) commenced production on 28 May 2026 to backward-integrate a key raw material, and a container freight station (Century Ports, KPD-1 West, Kolkata) commenced commercial operations with management guiding to cash-positive from Q1 FY27. The cost base is dominated by materials (timber, chemicals, resins) at 46.5% of FY26 revenue, followed by employee cost at 15.3% and other operating expenses at 21.2%; depreciation was 3.4% and capex 7.6% of revenue.