BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Within building materials space, Century Plyboards India Ltd. has been one of the top performers (stock up 84% since May 01, 2020) post Covid-19.
This is largely due to faster-than-expected recovery in volumes/earnings (driven by medium density fibreboard and container freight station segment in particular) and superior balance sheet strengthening amid stricter working capital management and implementation of ‘out of box’ initiatives like sales force automation and theory of constraints.
We expect the momentum to continue going forward with recovery in plywood and laminate segments to gain traction from Q3 FY21 and expected improvement in Ebitda margins driven by superior product mix, operating leverage and cost rationalisation.
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