Buy Century Plyboards (India), target price Rs 700: JM Financial

JM Financial has buy call on Century Plyboards (India) with a target price of Rs 700. The current market price of Century Plyboards (India) is Rs 499.95.

Century Plyboards (India), incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 10957.57 Crore) operating in Building Materials sector.

Century Plyboards (India) key Products/Revenue Segments include MDF Board, Prelaminated Particle Board, Freight & Other Containers, Veneers, Others, Agricultural Products, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 889.01 Crore, down -4.30 % from last quarter Total Income of Rs 928.97 Crore and up 3.29 % from last year same quarter Total Income of Rs 860.72 Crore. Company has reported net profit after tax of Rs 82.35 Crore in latest quarter.

The company’s top management includes Mr.Sajjan Bhajanka, Mr.Sunil Mitra, Mr.Naresh Pachisia, Mr.Probir Roy, Ms.Ratnabali Kakkar, Mr.J P Dua, Mr.Debanjan Mandal, Mr.Amit Kiran Deb, Mrs.Nikita Bansal, Mr.Keshav Bhajanka, Mr.Ajay Baldawa, Mr.Vishnu Khemani, Mr.Prem Kumar Bhajanka, Mr.Sanjay Agarwal, Mr.Rajesh Kumar Agarwal, Mr.Vijay Chhibber. Company has Singhi & Co. as its auditors. As on 31-12-2022, the company has a total of 22 Crore shares outstanding.

Investment Rationale
The brokerage is bullish on the company as it is the only player offering entire wood panel product range.

Promoter/FII Holdings
Promoters held 73.04 per cent stake in the company as of 31-Dec-2022, while FIIs owned 6.14 per cent, DIIs 13.33 per cent.