Century Plyboards plans to set up veneer cum plywood manufacturing unit in Punjab; Stock up ~1%

The proposed capacity addition will be 60000 CBM per year and is expected to be added by Q1FY23.

Jun 23, 2021 01:06 IST India Infoline News Service

Century-Plyboards
Century Plyboards (India) Limited board on Tuesday has considered a proposal for setting up a new unit in the state of Punjab for manufacturing of veneer and plywood.

The existing capacity of the company for Plywood production 300000 CBM per year and existing capacity utilization 54% for the year ended March 2021 (Q4-FY21- 77%). The proposed capacity addition will be 60000 CBM per year and is expected to be added by Q1FY23. Investment required to set up the unit ~Rs75cr. 

“Increasing demand; proximity to principal source of raw material; availability of man-power,” company shared the rationale on Wednesday behind adding the capacity.

At around 1.45 pm, Century Plyboards (India) Ltd was trading at Rs413.10 per piece up by Rs3.55 or 0.87% from its previous closing of Rs409.55 per piece on the BSE.

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