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IDBI Capital Report
Century Plyboards India Ltd. reported strong operating performance led by uptick in demand. Its Ebitda/net profit were 36%/42% above our estimates.
Its net sales increased 9.9% YoY to Rs 6.5 billion led by increases in sales from plywood and medium density fibre segment.
Ebitda increased 29.3% YoY to Rs 1.2 billion as its margins improved across segments.
During Q3 FY21, the company became a net debt free company as its working capital cycle days fell to 51 days (normal cycle 70 days).
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