Century Plyboards’ net profit up 29.12% in Q4 FY23, Real Estate News, ET RealEstate

June 24, 2023

NEW DELHI: Century Plyboards (India) has reported a growth of 29.12 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 114.59 crore in Q4 FY23 as against Rs 88.75 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 981.48 crore in Q4 FY23, a growth of 8.28 per cent from Rs 906.42 crore it recorded in the similar quarter last year.

The board of directors have recommended a dividend of Rs 1 per share (100% per share of face value of Rs 1 each) for the financial year ended March 31, 2023.

The holding company has disposed off the investments in one of the foreign subsidiary, Centuryply Myanmar, during the quarter due to difficulty in continuing its operations on account of political developments resulting in adverse business environment in Myanmar, it said in the regulatory filing.

As far as capital expenditure is concerned, while the MDF brownfield expansion at Hoshiarpur has commenced operation in March, 2023, the upcoming greenfield MDF project at Andhra Pradesh is running as per schedule & is likely to be commissioned in H2 FY24 at a estimated capex outlay of Rs 700 crore including cost escalation. The greenfield laminate project at Andhra Pradesh is likely to come on stream in Q3 FY24. The upcoming Particle Board project in Tamil Nadu with a revised capacity of 800 CBM/day with an investment outlay of Rs 500 crore is expected to be commissioned by Q4 FY25, the company said in its investors presentation.

  • Published On May 15, 2023 at 03:00 PM IST

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