Century Plyboards (India) Limited Earnings Summary — Q4 FY2026
Century Plyboards Reports Record Quarterly Revenue of ₹1,492 Cr with Recovering Net Profitability
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 3 consecutive quarters.
- Revenue of ₹1,561 Cr is 33.5% higher year-on-year.
- Revenue has compounded at 18.7% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹80 Cr is 54.8% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 0.4% annualised across the period.
- Operating margin stands at 12.7% in Q1 FY2027.
- Operating margin expanded by 171 bps year-on-year.
- Over the last two years operating margin has expanded by 161 bps.
- PBT margin is 7.5%.
- Expense growth of 31.0% remained below revenue growth of 33.5%.
- Operating profit of ₹198 Cr is 54.3% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 73/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 1,561 | 1,492 | 1,350 | 1,386 | 1,169 | 1,198 | 1,140 | 1,184 | 1,005 | 1,061 |
| Expenses | Improving | 1,364 | 1,315 | 1,180 | 1,211 | 1,041 | 1,064 | 1,011 | 1,072 | 894 | 923 |
| Operating Profit | Improving | 198 | 177 | 170 | 175 | 128 | 135 | 130 | 111 | 111 | 137 |
| Operating Margin | Stable | 12.7% | 11.9% | 12.6% | 12.6% | 11.0% | 11.2% | 11.3% | 9.4% | 11.1% | 12.9% |
| Other Income | Volatile | 2 | 5 | -6 | 2 | 2 | 2 | 2 | -2 | -5 | 8 |
| Interest | Strong Uptrend | 30 | 29 | 31 | 31 | 22 | 19 | 18 | 17 | 15 | 10 |
| Depreciation | Improving | 54 | 49 | 48 | 48 | 37 | 36 | 34 | 34 | 34 | 25 |
| Profit Before Tax | Improving | 116 | 104 | 85 | 98 | 71 | 82 | 80 | 58 | 58 | 110 |
| Tax | Improving | 33 | 24 | 20 | 27 | 18 | 29 | 21 | 18 | 24 | 31 |
| Net Profit | Improving | 80 | 78 | 64 | 69 | 52 | 52 | 58 | 40 | 34 | 80 |
| Net Margin | Stable | 5.1% | 5.2% | 4.7% | 5.0% | 4.4% | 4.4% | 5.1% | 3.4% | 3.4% | 7.5% |
Key Takeaways
- Revenue reached an all-time high of ₹1,492 Cr in Q4 FY2026, marking 24.5% YoY growth.
- Net profit rebounded to ₹79 Cr from ₹53 Cr in the same quarter last year, despite rising interest costs.
- The aggressive MDF and capacity expansion cycle has resulted in a 10x spike in interest costs compared to 2023.
- Return on Capital Employed (ROCE) has seen a sharp decline from 30% to 11% due to heavy debt-funded CAPEX.
- Operating margins show signs of stabilization around the 12-13% mark after significant previous volatility.
- Promoter holding remains high and stable at ~71.83%, indicating strong management alignment.
- DII ownership has grown significantly to 19%, reflecting institutional trust in the company's long-term scale-up.
Management Guidance
Management aims to maintain its dominant 29% share of the organized plywood market while scaling the MDF and Laminates segments to offset plywood's cyclicality.
Sentiment Shift
Improving
While debt levels remain high, the strong quarterly revenue growth and bottom-line recovery suggest the massive CAPEX phase is beginning to yield operational results.
Outlook
The outlook remains optimistic for revenue growth as new capacities stabilize, although profitability will remain sensitive to interest rate cycles and raw material prices in the short term.
From the Annual Report (Key Quotes)
“Century Plyboards has evolved from a pure-play plywood manufacturer into a diversified building materials powerhouse.”
“Recent aggressive capacity expansion has led to a short-term compression in return ratios.”
“The business maintains a strong brand pull and a deep pan-India distribution network.”
Official Quarterly Documents
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This summary is AI-generated from Century Plyboards (India) Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.