CenturyPly growth of 10.6% in net revenue of Q2 FY2024 over last year

CenturyPly, a prominent player in India’s plywood and decorative veneer market, unveiled its Q2 financial results for the quarter ending September 30, 2024, showcasing robust growth and sustained commitment to sustainability and social responsibility.

Q2 Financial Highlights

• Net Revenue: The company reported ₹1063 crores in net revenue from operations, reflecting a 10.6% growth compared to the corresponding quarter of the previous year.
• Earnings Before Interest, Tax, and Depreciation (EBIT): Stood at ₹134.4 crores, demonstrating operational efficiency.
• Profit After Tax (PAT): Registered at ₹75.7 crores, underlining steady profitability.

Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards (I) Ltd said, “The Q2 results for FY 25 are consistent with our expectations. Year-over-year, standalone results indicate a robust growth of 10.6% and on consolidated basis, a growth of 18.7% in revenue.”

“Despite experiencing cost pressures from rising raw material prices, the EBITDA margin for the Plywood segment has improved due to a favorable product mix and increased volumes.”

“We have initiated commercial production of all product lines, including MDF, laminate, and PVC, at our Century Panel Badvel facility. Although we faced initial challenges typical of a new plant, we are progressively increasing production. The new MDF plant has contributed to an almost 75% growth in volume for MDF. MDF revenue has grew by 36.4% in Q2 Y-o-Y.”

Focus on Sustainability and Capacity Expansion

CenturyPly is preparing an Environmental, Social, and Governance (ESG) report as part of its broader commitment to sustainability. The company plans to expand its plyboard production capacity with a new model in Chennai, expected to be operational by March 2025. These efforts align with CenturyPly’s mission to balance growth with environmental responsibility.

CSR Initiative: Century Heroes

In addition to its business accomplishments, CenturyPly launched its annual CSR campaign, Century Heroes. The campaign aims to foster a more inclusive environment, particularly focusing on creating opportunities and awareness for individuals with disabilities. This initiative reinforces the brand’s dedication to social equity and empowerment.

Business Outlook

With a consistent increase in revenue and profitability, CenturyPly remains focused on optimizing its operations and identifying opportunities for capacity expansion. The company’s strategy emphasizes sustainable growth, underpinned by its commitment to innovation and community engagement.

CenturyPly’s Q2 performance reflects its strong market position and vision for the future. By combining financial growth with a steadfast focus on sustainability and inclusivity, the company is poised to strengthen its leadership in the plywood and decorative veneer sector while contributing positively to society.