India’s leading plywood company, Century Plyboards (India) Ltd., held their board meeting today to announce the company’s Q1 financial results for the quarter ending June 30th, 2022.
· Net Revenue from operations for the Quarter, ending 30th June, 2022 were Rs. 881.48 crores; an increase of 96.4% over corresponding period of last financial year Rs. 448.88 crores.
· Earnings before Depreciation Interest and Tax for the last quarter of Financial Year 2022-23 was Rs. 151.26 crores, an increase of 128.8% over corresponding period of last financial year Rs. 66.11 crores.
· Profit After Tax for the quarter ending 30th June, 2022, was Rs. 96.47 crores; showing an increase of 184.68% over corresponding period of last financial year Rs. 33.89 crores.
· We have performed exceptionally well across our product portfolio during the quarter under review
Commenting on the company’s performance, Sajjan Bhajanka, Chairman, Century Plyboards (I) Ltd said “Q1FY23 (Q1 being a leanest quarter in a financial year) ended with the company achieving revenue which was just 1.5% lower compared to Q4FY22 sales (Q4 being a peak quarter in a financial year). Despite the sustained input cost pressure in core segments of plywood & laminate, we have been able to mitigate a large part of our gross margin pressure by taking corresponding price increases and also through operating leverage.”