Century Plyboards spurts after upbeat Q1 earnings

20 Jul 2022 , 03:26 PM

Revenue from operations climbed 94.2% to Rs 888.78 crore in the quarter ended 30 June 2022 from Rs 457.54 crore recorded in the same period last year. On sequential basis, the companys net profit rose 4.26% while net sales declined 1.36% in Q1 FY23 over Q4 FY22. The companys profit before tax soared to Rs 125.81 crore in Q1 FY23 as compared to Rs 44.27 crore recorded in Q1 FY22. Cost of raw materials consumed jumped 35.25% to Rs 366.26 crore and employee benefit expenses grew 28.22% to Rs 119.21 crore in Q1 FY23 over Q1 FY22. The companys revenue from plywood and allied products stood at Rs 482.35 crore (up 108.56% YoY), revenue from laminate and allied products was at Rs 163.56 crore (up 86.12% YoY) and that from medium density fibre board was at Rs 155.60 crore (up 70.91% YoY) in Q1 FY23 . Further, revenue from particle board segment was Rs 51.07 crore (up 114.76% YoY), container freight station services was Rs 20.93 crore (up 13.56% YoY) and revenue from others segment was Rs 16.71 crore (up 166.93% YoY) in the quarter ended 30 June 2022. On standalone basis, the companys net profit reported a sharply higher net profit of Rs 96.47 crore in Q1 FY23 from Rs 33.89 crore in Q1 FY22. Revenue from operations surged 96.4% YoY to Rs 895.25 crore in Q1 FY23 over Q1 FY22. EBITDA soared 128.8% to Rs 151.26 crore in Q1 FY23 from Rs 66.11 crore posted in Q1 FY22. EBITDA margin increased to 17.2% in Q1 FY23 as compared to 14.6% in Q1 FY22. Century Plyboards (India) makes plywood, laminate sheets, fiberboard, marine wood, MDF boards, sunmica and veneer wood products. Powered by Capital Market – Live News