Buy Century Plyboards (India); target of Rs 340: Sharekhan

Sharekhan is bullish on Century Plyboards (India) has recommended buy rating on the stock with a target price of Rs 340 in its research report dated February 10, 2021.

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Sharekhan’s research report on Century Plyboards (India)

Q3FY2021 numbers beat expectations on all front led by strong revenue growth and expansion in OPM in its key business verticals. Strong demand momentum is expected to continue going ahead along with sustaining OPM. The company becomes practically debt free with lowest working capital cycle days. Plans of brownfield and Greenfield expansion in MDF. Equipment re-balancing to enhance capacities of Plywood, laminates and particle board.

Outlook

We retain our Buy rating on Century Plyboards Limited (Century) with a revised PT of Rs. 340, as we see further room for an upside considering its strong growth outlook and healthy balance sheet.

For all recommendations report, click here

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