Century Plyboards (532548) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 standalone revenue grew 6.8% year-over-year and consolidated revenue rose 16.3%, reflecting business resilience and in line with prior guidance.

• Standalone EBITDA margin (excluding forex) was 12.7% (down from 13.5% YoY); consolidated EBITDA margin improved to 12.5% (up from 11.2% YoY), aided by Badvel plant ramp-up and higher ad spend.

• Plywood segment led with 15.3% year-over-year topline growth and 13.8% EBITDA margin; laminates showed 12.8% YoY revenue growth and signs of recovery.

• MDF segment posted 23.7% YoY revenue growth and 14.3% EBITDA margin; particle board saw sequential improvement but YoY revenue decline.

• Unaudited standalone and consolidated financial results for the quarter ended 30th June 2025 were approved by the Board on 7th August 2025.

Financial highlights

• Standalone Q1 FY26 revenue was ₹101,724.47 lakhs, up from ₹95,222.65 lakhs YoY; consolidated revenue was ₹116,935.99 lakhs, up from ₹100,538.38 lakhs YoY.

• Standalone Q1 FY26 EBITDA (ex-forex, ex-extraordinary): ₹128.83 Cr, margin 12.7%.

• Q1 FY26 PAT: ₹67.82 Cr, margin 6.7%, down from ₹73.91 Cr YoY; consolidated PAT: ₹71.15 Cr.

• Plywood and Allied Products led segment revenue and profit, with ₹64,739.76 lakhs revenue and ₹9,076.91 lakhs segment profit (standalone).

• Laminates revenue up 12.8% YoY and 1.9% QoQ; EBITDA margin at 5.9%.

Outlook and guidance

• Plywood segment maintains 10%+ sales growth guidance for the year with 12–14% EBITDA margin.

• MDF segment targets 20% revenue growth and 15% EBITDA margin for the year.

• Laminates division aims for 20%+ revenue growth and mid to high single-digit EBITDA margin.

• Particle board expected to reach double-digit EBITDA next year and 15%+ by year three.