आगरा में नए सफेद संगमरमर के चमत्कार के खुलने से ताजमहल को प्रतिस्पर्धा का करना पड़ रहा है सामना
Century Plyboards (India) held its board meeting
Hoshiarpur,February7, 2023: India’s leading plywood company,Century Plyboards(India) Ltd., held its board meeting today to announce the company’s Q3financial results for the quarter ending December31st, 2022.
Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards(I) Ltd said,“Q3FY23 ended with Q3FY23 ended with the company achieving quarterly revenue of Rs 877 crore on standalone basis, de-growth of mere 2.6% on QoQ basis despite being a seasonally weaker quarter. Importantly, we have further tightened our balance sheet in Q3FY23 by virtue of prudent working capital management (improvement by 3 days QoQ). This has not only augmented our war chest for future capex (Net cash on books as on 31st Dec’22 at Rs 208.48 crores) but has also enabled us to maintain our high RoCEs (23.12% in Q3FY23) despite the high input cost inflation scenario.”
As part of its aggressive expansion plan, CPIL today also inaugurated its extended capacity at Hoshiarpur MDF (medium density fibre) plant. Out of an investment of Rs 1,000 crore planned by the company over FY23-FY25, about Rs 250 crores was invested in this capacity expansion. With this, the production capacity has been enhanced by58.33%. The expansion of this unit also has pushed up the employment potential by 35%. Usage of innovative production techniques have been tried to minimise any error in manufacturing.
The upcoming greenfield MDF project in Andhra Pradeshis likely to be commissioned in H2FY24. The laminate greenfield project in Andhra Pradesh is also expected to come on stream in Q2FY24.
During the ribbon-cutting ceremony, Mr.Sajjan Bhajanka, also added,“We’ve been quite observant with the kind of reaction we received from our consumers. MDF productsare well received by the Indians so far, and we are expecting a robust demand for MDF in the coming years.”
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