Century Plyboard Q3 Results Review - Below Estimate. Contraction In Margins: Prabhudas Lilladher

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.We downward revise Century Plyboards India Ltd.'s FY24/25/26E earnings by 13.8%/15.8%/7.7% to factor in muted Q3 performance and weak Q4 margin guidance across its Plywood/Laminates/medium-density fibreboard segments to 12-14%/12-14%/ less than 20%.Century Plyboards has also downward revised its Q4 Plywood/laminates revenue growth guidance to single digit and MDF to 20%. Plywood segment (~55% revenue) reported soft vol. growth of 3.8% YoY versus Greenply Industries Ltd. at 11.3% YoY, while significant correction in MDF/particle board/laminate realisations by 13.2%/18.9%/10.0% YoY impacted revenue in Q3 FY24.Consolidated Ebitda margin contracted 11.3% with drop in realisation and one-off expenses related to dealers meet and consultant fees which is expected to be range bound in coming quarters. We expect overall revenue/Ebitda/profit after tax compound annual growth rate of 12.2%/15.7%/12.0% with plywood/laminates/MDF volume CAGR of 9.0%/11.3%/25.9%.Maintain ‘Buy’ rating with revised target price of Rs 848 (earlier Rs 888) valuing the stock at 35 times FY26 earning per share..Click on the attachment to read the full report:.Capital Small Finance Bank IPO - Investment Rationale, Issue Details, Peer Comparison, Risks: Anand Rathi.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Century Plyboard Q3 Results Review - Below Estimate. Contraction In Margins: Prabhudas Lilladher

Management expects ~20% medium-density fibreboard volume growth with Ebitda margin maintained at current level or further impacted by 2-3%,

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Century Plyboard Q3 Results Review - Below Estimate. Contraction In Margins: Prabhudas Lilladher

Management expects ~20% medium-density fibreboard volume growth with Ebitda margin maintained at current level or further impacted by 2-3%,

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