Buy Century Plyboards (India), target price Rs 747 : Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Century Plyboards (India) Ltd. with a target price of Rs 747. The current market price of Century Plyboards (India) is Rs 678.2 Sharekhan by BNP Paribas recommended to keep stoploss at Rs 619.

Century Plyboards (India), incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 15044.44 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 31-03-2023, the company has reported a Consolidated Total Income of Rs 981.49 Crore, up 10.40 % from last quarter Total Income of Rs 889.01 Crore and up 8.28 % from last year same quarter Total Income of Rs 906.43 Crore. Company has reported net profit after tax of Rs 114.60 Crore in latest quarter.

Investment Rationale

Stock has given breakout from falling channel with bullish crossover in daily, weekly momentum indicator.

Promoter/FII Holdings
Promoters held 73.04 per cent stake in the company as of 31-Mar-2023, while FIIs owned 5.78 per cent, DIIs 13.71 per cent.