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Century Plyboards (India) Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤4th Feb 26

Summary : Century Plyboards reported strong Q3 FY26 revenue and profit growth, despite a one-time labor code impact.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total Expenses (Q3 FY26): ₹1,25,940.06 Lacs.
  2. Consolidated Cost of materials consumed (Q3 FY26): ₹67,278.24 Lacs.
  3. Consolidated Employee benefits expense (Q3 FY26): ₹20,779.80 Lacs.
  4. Consolidated Finance cost (Q3 FY26): ₹3,125.10 Lacs.
  5. Exceptional item (Q3 FY26): ₹761.18 Lacs (consolidated) due to new Labour Codes.
  6. Consolidated Revenue from Operations (Q3 FY26): ₹1,35,008.04 Lacs.
  7. Consolidated Total Income (Q3 FY26): ₹1,35,178.37 Lacs.
  8. Standalone Revenue from Operations (Q3 FY26): ₹1,14,656.44 Lacs.
  9. Standalone Total Income (Q3 FY26): ₹1,15,466.85 Lacs.
  10. Segment-wise revenue includes Plywood, Laminate, MDF, Particle Board, Container Freight Station Services.
  11. Consolidated Total Assets (Dec 31, 2025): ₹5,01,041.87 Lacs.
  12. Consolidated Total Liabilities (Dec 31, 2025): ₹2,46,393.19 Lacs.
  13. Standalone Total Assets (Dec 31, 2025): ₹3,98,060.06 Lacs.
  14. Standalone Total Liabilities (Dec 31, 2025): ₹1,36,950.32 Lacs.
  15. Paid up Equity Share Capital (Dec 31, 2025): ₹2,225.27 Lacs (both standalone and consolidated).
  16. Both standalone and consolidated financial results are presented.
  17. Consolidated results include five subsidiaries with reviewed interim financial results and eight subsidiaries with unaudited interim financial results.

Corporate Overview

  1. Primarily India, with past international subsidiaries (Singapore, Laos) ceasing operations.
  2. Incremental financial impact from new Labour Codes, specifically increased gratuity liability.
  3. Manufacturing and selling Plywood, Laminates, MDF, Particleboard, PVC Board, and CFS products.
  4. Formal and factual, reporting financial results and regulatory compliance.
  5. Plywood and Allied Products
  6. Laminate and Allied Products
  7. Medium Density Fibre Board
  8. Particle Board
  9. Container Freight Station Services
  10. Others

Risk Factors

  1. New Labour Codes increase gratuity liability.
  2. Changes in inventory impact profitability.
  3. Fluctuations in raw material costs.
  4. Intense market competition exists.

Key Drivers

  1. Revenue from operations grew significantly.
  2. Profit before tax showed improvement.
  3. Earnings per share increased year-over-year.
  4. Strong performance across product segments.

Auditor’s Report

  1. Limited review conclusion, not an audit opinion.
  2. No material misstatement identified in financial statements.

Board Commentary

  1. Financial impact from new Labour Codes on gratuity liability.
  2. Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  3. Impact of new Labour Codes (Code on Wages, Industrial Relations, Social Security, Occupational Safety, Health and Working Conditions Code, 2020).

Corporate Governance

  1. Audit Committee reviewed financial results before Board approval.
  2. Audit Committee is in place for financial review.

Management Discussion & Analysis

Performance Drivers

  1. Growth in revenue from operations across all key segments.
  2. Effective cost management contributing to profit growth.

Critical Risks

  1. Increased gratuity liability due to new Labour Codes.
  2. Potential impact of future regulatory changes.