Century Plyboards reported a strong Q2 FY26, achieving record quarterly revenue of ₹1,386 crores, a 17.1% year-on-year increase. EBITDA ex ForEx improved to 13.1% versus 10.3% in Q2 FY25, driven by higher volumes and cost optimization. The company’s working capital cycle also improved, reaching 63 days on a standalone basis. Growth was broad-based across all segments.
Financial Highlights
In Q2 FY26, Century Plyboards achieved its highest-ever quarterly revenue of ₹1,386 crores, representing a 17.1% year-over-year increase. For the first half of the fiscal year, revenue grew by 16.7% compared to the previous year. The company’s EBITDA margin ex ForEx improved to 13.1%, compared to 10.3% in Q2 FY25.
Segment Performance
Plywood
The Plywood segment achieved record quarterly revenue of ₹760 crores, a 16% year-on-year growth, with EBITDA margin at 14.2%.
Laminates
The Laminate division’s revenue grew by 16.6% year-on-year, reaching record quarterly revenue of ₹188 crores, with EBITDA margin expanding to 9.5%.
MDF
The MDF segment saw revenue increase by 27.9% year-on-year, achieving record quarterly revenue of ₹343 crores, with EBITDA margin at 13.6%.
Particle Board
The new Particle Board plant commenced commercial production and sales during the quarter. EBITDA for this business remains under pressure due to higher fixed costs during the ramp-up phase. Trial sales of approximately ₹23 crores were capitalized.
Operational Efficiency
The working capital cycle was reduced to 63 days on a standalone basis and to 70 days on a consolidated level. Cash flow from operations improved to ₹269.4 crores in H1.
Future Outlook
The company anticipates continued growth across major business segments, supported by rising urbanization, higher disposable income, and increased consumer preference for branded products.
Source: BSE
