Century Ply

This Kolkatta based company was impacted by GST – for the company sales were hit in June due to destocking and even on its raw material front, it faced supply issues. Higher interest outgo actually was down 33% but depreciation rose 44% due to investment in new plants; there was an overall 10% increase in costs.  Its net sales rose 8% (YoY) at Rs.439 crore but net profit came in 21% lower at Rs.34 crore.

EBITDA was down 11% at Rs.62 crore and margins declined from 17% to 14%. Plywood showed a 12% increase in volumes and 16% rise in sales; Deco Ply volumes fell 3% but sales rose 9% and commercial veneer volumes showed a sharp 32% slump and sales fell 15%.

On an equity of Rs.22.25 crore, EPS for the quarter was at Rs.1.54 (FV of Re.1).