CenturyPly is Leading a Dramatic Change in India's Internal Infrastructure

News Desk, News Nation 360 : CenturyPly, a market leader in India’s plywood and decorative veneers sector, showcased its remarkable growth at its 44th Annual General Meeting, reaching a valuation of INR 14,220 crore as of March 31, 2024, the highest in India's wood products industry. The company’s standalone revenue rose by 6.2%, with a 15.2% return on assets and a 15.5% return on equity, demonstrating financial resilience despite a challenging environment of high interest rates. CenturyPly generated Rs 420 crore in cash profit, accounting for 8% of India's total plywood sales and 30% in the organized plywood market. Aiming for INR 12,000 crore in turnover by 2031, CenturyPly is investing INR 2,000 crore by FY25 to expand capacity in laminates, MDF, plywood, and particle board, with significant investments in Andhra Pradesh, Tamil Nadu, and Punjab. The MDF and particle board segments are expected to contribute 40% of the company's future turnover. The company is also focused on export growth, with laminate exports reaching Rs 150 crore in the last financial year and a target to double this to Rs 300 crore in three years. CenturyPly’s commitment to innovation, quality, and customer satisfaction, embodied in its motto 'Sarvada Sarvottam – The Best Always,' is driving its strategic expansion and solidifying its dominance in both domestic and international markets. Commenting on the company’s performance, Sajjan Bhajanka, Chairman, of Century Plyboards (India) Ltd stated that the business produced strong results at a time when the margin was under pressure from decreased realisation as a result of fierce competition and rising wood costs. They anticipate strong topline growth in the upcoming year due to the installation of new capacity under the majority of the category.