Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 6 Oct - CRISIL assigns Century Plyboards ESG rating 62, up from 51, moving it to Strong.
Source: Bse
Century Plyboards (India) Limited (CENTURYPLY)
Micro CapMaterials stocks · Micro cap · NSE
Century Plyboards (India) Limited manufactures and sells plywood, laminates, MDF, and particle board products. It operates across various segments of the wood panel industry, serving both residential and commercial applications in India.
₹664.1
-9.05 · -1.34%
Market cap ₹14,880 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals14 Oct 2026 · screener
Latest result31 Jul, 07:38 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Materials P/E 28.8 (n=19)
Technical timing lens
Trend score and candlestick chart
25Bearishfull bear SMA stack · SMA20 -8.4% / mo · MACD + · near 52W low · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 24
Sector RS: 26
Sector 3M: -9.3% vs Nifty 500 -5.6%
Materials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CENTURYPLYD candles · FIT view-15.1%Latest close ₹664.10 on 2026-10-19
Bar
-2.0%
RSI
36
MACD hist
1.78
52W pos
19%
2026-10-19O ₹677.55H ₹677.55L ₹659.25C ₹664.10Vol 28,774 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CENTURYPLYNifty CommoditiesNifty 500
- CENTURYPLY
- -16.6%
- Nifty 500
- -5.6%
- Nifty Commodities
- -9.0%
- Vs Nifty 500
- -11.0 pp
Chart stats
19 Oct 2026- From 52W high
- -22.7%
- 52W range position
- 19%
- ATR (14)
- 2.8%
- Volume vs 20D
- 0.29x
- Avg traded value
- ₹6.6 Cr
- 20D price channel
- ₹654.2 - ₹724.7
₹859
₹618.5 - ₹859
₹18.4
Latest completed session
20-session average
27.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED29
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +33.5% · PAT +56.6% YoY
Technical
Bearish25
Price trend and sector-relative-strength timing.
Valuation
Legacy model-260.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +34% YoY · PAT +57% YoY · margin expansion · operating leverage
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,561 Cr | +33.5% | +4.6% |
| EBITDA | ₹198 Cr | +54.7% | +11.9% |
| Operating margin | 13.0% | +200 bps | +100 bps |
| PAT | ₹83 Cr | +56.6% | +5.1% |
| PAT margin | 5.3% | +79 bps | +3 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 50.20
- P/B
- 5.73
- EV/EBITDA
- 18.09
- Market Cap
- 14880.00Cr
Profitability
- ROE
- 10.80%
- ROCE
- 11.50%
- ROA
- 5.90%
- Dividend Y
- 0.15%
Growth (CAGR)
- Revenue 5Y
- 20.00%
- EPS 5Y
- 6.00%
- Revenue 3Y
- 14.00%
- EPS 3Y
- -12.00%
Balance Sheet
- Debt/Equity
- 0.68
- Interest Coverage
- 5.95×
- Altman Z
- 6.14
- Book Value
- 117.00
Cash Flow
- FCF Yield
- 0.22%
- FCF Positive Y
- 7/5
- OCF
- 457.00 Cr
- EPS TTM
- 13.09
Shareholding
- Promoter Hold
- 71.83%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 22%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 5,789+7.3% vs prev
Net Profit
₹ CrLatest: 268+44.1% vs prev
Return on Equity
%Latest: 10.3+30.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 36. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~9.1% over last month) — short-term momentum negative.
- RSI(14) at 36 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 23% off 52W high · 7% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
42
RS percentile
Stage 1 Base / Transition
1M return
-8.1%
3M return
-16.6%
6M return
-14.6%
1Y return
-11.4%
RS 1D
-1
RS 20D
-4
Sector rank
#19
Industry rank
-
Stage evidence
- Price is 11.1% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed -0.5% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 85.66-0.33%
RS vs Nifty 50086
Valuation & peers
U-Score 29 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 29 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth9/25
Quality3/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
29
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
29/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 8/15 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Fair-value margin of safety is negative at -260.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 3/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
50.2
PB
5.7
EV/EBITDA
18.1
ROE
10.8%
ROCE
11.5%
FCF Yield
0.2%
Debt/Equity
0.7
MoS
-260.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
29
Previous: 29
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-260.0%
Previous: -260.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
29
29
29
29
29
29
29
29
29
29
29
29
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹185.63
-257.7% MoS
Growth-justified P/E
14.1
Growth-justified Value
₹184.44
-260.0% MoS
PEG
8.37
Comparable companies
Peers
Business-comparable peers in Materials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GREENPLY
Small
Greenply Industries Limited
Building Materials
match 62
34
34.5
11.8%
-23%
WATCHLIST
WIPL
Small
The Western India Plywoods Limited
Building Materials
match 60
23
63.2
4.5%
-60%
OVERVALUED
ARCHIDPLY
Small
Archidply Industries Limited
Building Materials
match 59
47
14.6
8.2%
+53%
FAIR VALUE
GREENPANEL
Small
Greenpanel Industries Limited
Building Materials
match 58
66
13.7
11.4%
+64%
UNDERVALUED
SYLVANPLY
SME
Sylvan Plyboard (India) Ltd.
Building Materials
match 58
57
14.2
5.5%
+60%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T03:41:43.361Z
Management commentary snapshot
CENTURYPLY reported highest-ever quarterly revenue of Rs. 1,492 Cr in Q4 FY26, up 24.5% YoY and 10.5% QoQ. FY26 topline grew 19.2%, with PAT up 44.2% to Rs. 268 Cr. EBITDA margin (ex-forex) improved to 13.7% in Q4 and 13.0% for FY26.
The company delivered robust Q4 and FY26 results, driven by strong revenue growth across all key segments and significant margin expansion. Plywood, Laminates, and MDF showed healthy performance, while Particle Board benefited from new capacity and utilization.
Current business mix
Total Income by Segment FY26
Latest issuer-disclosed distribution across 6 reported categories.
Plywood54.0%
MDF23.8%
Laminates13.8%
Particle Board3.7%
CFS2.9%
Others1.8%
Growth engines
Plywood Segment Growth
StrongPlywood segment demonstrated sustainable growth on both QoQ and YoY basis, with healthy EBITDA expansion. Total income grew 15.6% in FY26.
Laminates Segment Turnaround
StrongLaminates segment delivered a stellar turnaround with strong revenue growth (13.9% in FY26) and margin improvement after two stagnant years.
MDF Segment Momentum
StrongMDF segment continued strong momentum, driven by improving capacity utilization and consistent QoQ growth. Total income grew 25.6% in FY26.
Particle Board Capacity & Utilization
StrongParticle Board segment witnessed robust growth (38.2% in FY26) driven by new capacity additions and improved capacity utilization.
Capacity and execution
MDF Greenfield at Andhra Pradesh
Total capex incurred till FY26 is Rs 730 Cr against a budgeted cost of Rs 600 Cr. FY26 capex was Rs 50.5 Cr.
Laminates Greenfield at Andhra Pradesh
Total capex incurred till FY26 is Rs 210 Cr against a budgeted cost of Rs 200 Cr. FY26 capex was Rs 12.3 Cr.
Particle Board Greenfield at Chennai
Total capex incurred till FY26 is Rs 693.6 Cr against a budgeted cost of Rs 550 Cr. FY26 capex was Rs 354.4 Cr.
PVC Board Greenfield at Andhra Pradesh
Total capex incurred till FY26 is Rs 96.2 Cr against a budgeted cost of Rs 30 Cr. FY26 capex was Rs 7.9 Cr.
Tailwinds
Improving Capacity Utilization
MDF segment's strong momentum driven by improving capacity utilization. Particle Board segment's robust growth driven by improved capacity utilization.
New Capacity Additions
Particle Board segment witnessed robust growth driven by new capacity additions.
Headwinds
Forex Losses
Forex losses impacted overall EBITDA and PBT. Total forex loss in FY26 was Rs 57.28 Cr.
Risk radar
Increased Gratuity Liability
Exceptional items in FY26 pertain to gratuity impact of labour law, and Q3 FY26 included Rs 7.61 Cr for increased gratuity liability.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
QoQ comparison is relevant for assessing sequential momentum and utilization ramp-up in segments like MDF and Particle Board. YoY comparison provides a broader view of overall business health and growth trends.
Sector KPIs management disclosed
Total Income
Q4 FY26 Total Income: Rs 1,492.21 Cr (+24.5% YoY, +10.5% QoQ). FY26 Total Income: Rs 5,397.18 Cr (+19.2% YoY).
EBITDA Margin (ex-forex & extra-ord item)
ImprovedQ4 FY26 EBITDA margin: 13.7% (vs 12.6% QoQ, 12.1% YoY). FY26 EBITDA margin: 13.0% (vs 11.1% FY25).
Profit After Tax (PAT)
Strong GrowthFY26 PAT: Rs 268.33 Cr (+44.2% YoY). Q4 FY26 PAT: Rs 79.41 Cr (+49.4% YoY, +22.1% QoQ).
Total Debt / EBITDA
ImprovedFY26 Total Debt / EBITDA: 2.47 (vs 2.97 in FY25).
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin (ex-forex) | FY26: 13.0%, Q4 FY26: 13.7% | Sustained margin improvement across segments, especially Laminates and Particle Board, and overall consolidated margin expansion. |
| Capacity Utilization | MDF and Particle Board segments showing improving utilization. | Continued ramp-up in utilization rates for new and expanded capacities, particularly in MDF and Particle Board, to drive profitability. |
| Debt/EBITDA Ratio | FY26: 2.47 | Further reduction in the debt-to-EBITDA ratio as new capacities stabilize and generate higher cash flows, given ongoing capex. |
| Cash Conversion Cycle | FY26: 81.19 days | Efficient working capital management to maintain or further reduce the cash conversion cycle, supporting liquidity amidst growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
76Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 81st percentile of the scored universe and 84th percentile within Materials. Main check: financial discipline is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
137 docs text-extracted · 52 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Materials: 84th pctile, median 70 · Micro: 66th pctile, median 73
Evidence depth
Financial-only
137 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
48
watch · capital discipline
Results
90
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 71.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.2%.
- ▸7 years of positive FCF.
Trust risks
- ▸Revenue CAGR is 14% but EPS CAGR is -12%.
- ▸2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Century Plyboards (India) Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 16 Sep - AGM on 16 Sept 2026 approved reappointment of three directors, including MD Sanjay Agarwal, for five years.
Source: Bse
Annual reportSep 2026
Sep 2026 · Submission Of Notice Of 45Th Annual General Meeting And Annual Report 24 Aug - Submitted FY2025-26 annual report and notice for 45th AGM on 16 September 2026.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Aug - Century Plyboards will attend Equirus Annual India Conference in Mumbai on 14 August 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Aug - The official/(s) of the Company would be attending the following Analysts/Investors meeting: Date: 13th August, 2026 Name : EMKAY Confluence 2026 Venue: Mumbai Type ....
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Aug - Newspaper Publication intimating completion of dispatch of Notice
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug - Copy of Newspaper Publication in relation to 45th AGM of the Company
Source: Bse
Credit ratingJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 1 Jul - ICRA reaffirmed AA(Stable) and A1+ ratings for Century Plyboards and Century Panels on June 30, 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2 Jun - The official/(s) of the Company would be attending the following Analysts/Investors meeting: Date: 8th June, 2026 Name: ICICI Securities- India Investor ....
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Jun - Advertisement published in newspaper regarding transfer of Equity Shares to IEPF Account
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.