Century Plyboards (532548) Q3 25/26 earnings summary

Executive summary

• Achieved strong, broad-based growth in Q3 FY26, with consolidated revenue reaching ₹1,350 crore, up 18.4% year-over-year, and nine-month revenue up 17.3%, reflecting structural business strength and operational efficiency improvements.

• All major business segments—Plywood, Laminates, MDF, and Particle Board—reported revenue growth and margin improvements, with Particle Board achieving its highest-ever quarterly sales.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025 were approved by the Board and reviewed by auditors, with no material misstatements identified.

Financial highlights

• Consolidated EBITDA (ex-Forex) was ₹170.5 crore, with margin improving to 12.6% from 10.7% year-over-year; gross profit margin for the quarter was 32.8%.

• Net profit for the quarter was ₹65.04 crore, up 10.5% year-over-year; nine-month PAT was ₹188.93 crore, up 42.1% year-over-year.

• Standalone revenue from operations for Q3 FY26 was ₹114,656.44 lakhs, up from ₹100,349.91 lakhs in Q3 FY25; consolidated revenue for Q3 FY26 was ₹135,008.04 lakhs, up from ₹114,047.32 lakhs in Q3 FY25.

• Standalone net profit for Q3 FY26 was ₹5,540.76 lakhs; consolidated net profit for Q3 FY26 was ₹6,202.86 lakhs.

• Exceptional item of ₹7.61 crore in Q3 25-26 due to increased gratuity liability from labour code changes.

Outlook and guidance

• Expect continued growth momentum across all major business segments, supported by brand strength, distribution expansion, and upcoming capacity additions.

• FY25-26 sales growth targets: Plywood 15–17%, Laminates 13%+, MDF 40%, Particle Board 25%.

• Laminate segment targets 20%+ growth and double-digit margins next year.

• MDF segment aims for 25%+ growth and 15% EBITDA margin; normalized industry margin expected at 20%+ over 3-5 years.

• Plywood industry growth estimated at 6-7%, with company market share doubling since pre-COVID.