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    Buy Century Plyboards (India), target price Rs 790: JM Financial

    Synopsis

    Century Plyboards (India) Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 12730.51 Crore) operating in Building Materials sector.

    Century Plyboards | BuyGetty Images
    Promoters held 73.04 per cent stake in the company as of 30-Jun-2022, while FIIs owned 7.01 per cent, DIIs 11.96 per cent.
    JM Financial has buy call on Century Plyboards (India) with a target price of Rs 790. The current market price of Century Plyboards (India) is Rs 573. Time period given by analyst is one year when Century Plyboards (India) Ltd. price can reach defined target.

    Century Plyboards (India) Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 12730.51 Crore) operating in Building Materials sector.

    Century Plyboards (India) Ltd. key Products/Revenue Segments include MDF Board, Freight & Other Containers, Prelaminated Particle Board, Veneers, Others, Agricultural Products, Export Incentives, Other Operating Revenue, Scrap for the year ending 31-Mar-2021.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 894.79 Crore, down -1.28 % from last quarter Total Income of Rs 906.43 Crore and up 93.35 % from last year same quarter Total Income of Rs 462.77 Crore. Company reported net profit after tax of Rs 92.62 Crore in latest quarter.

    Investment Rationale
    The brokerage broadly maintains estimates to reflect the 1QFY23 performance and outlook. We like Century for its a) comprehensive product offering in wood panels, b) strong brand recall, c) robust pan-India distribution network, d) continuous product innovation, e) robust balance sheet and return ratios, f) industry leading performance, and g) most importantly, significant improved balance sheet construct. (RoE/RoCE>20% post tax). It maintains BUY with a rolled forward Sep’23TP of INR790, basis 32xSep’24EPS (earlier Mar’23 TP of INR 700 basis 32xFY24EPS).


    Promoter/FII Holdings
    Promoters held 73.04 per cent stake in the company as of 30-Jun-2022, while FIIs owned 7.01 per cent, DIIs 11.96 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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