Sharekhan has given Buy recommendation for Century Plyboards with a target price of Rs. 360 in its research report issued on Mar 26, 2021

Sharekhan’s research report on Century Plyboards

Demand for wood panel industry remains buoyant driven by domestic consumption, declining imports and rising exports of furniture. The rise in key inputs costs have led by multiple price hikes which may continue for some time. Pressure on unorganised sector to benefit in terms of market share gains. Plans of brownfield and greenfield expansion in MDF along with equipment re-balancing to enhance capacities of Plywood, laminates and particle board to aid in capturing high demand.

Outlook

We retain a Buy on Century Plyboards Limited with a revised PT of Rs. 360, as we see further room for an upside, given a strong demand outlook and healthy balance sheet.

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