30
Multi-ply INVESTOR PRESENTATION August, 2014 Century Plyboards (India) Limited
Mu
lti-
ply
INV
ES
TO
R P
RE
SE
NTA
TIO
N
Au
gu
st,
20
14
Ce
ntu
ry P
lyb
oa
rds
(In
dia
) Li
mit
ed
2
Th
is p
rese
nta
tio
n a
nd
th
e a
cco
mp
an
yin
g s
lid
es
(th
e “Presentation”),
wh
ich
ha
ve
be
en
pre
pa
red
by
Ce
ntu
ry P
lyb
oa
rds
(I)
Ltd
.
(th
e “Company”),
ha
ve
be
en
pre
pa
red
so
lely
fo
r in
form
ati
on
pu
rpo
ses
an
d d
o n
ot
con
stit
ute
an
y o
ffe
r, r
eco
mm
en
da
tio
n o
r
invit
ati
on
to
pu
rch
ase
or
sub
scri
be
fo
r a
ny s
ecu
riti
es,
an
d s
ha
ll n
ot
form
th
e b
asi
s o
r b
e r
eli
ed
on
in
co
nn
ect
ion
wit
h a
ny c
on
tra
ct
or
bin
din
g c
om
mit
me
nt
wh
ats
oe
ve
r. N
o o
ffe
rin
g o
f se
curi
tie
s o
f th
e C
om
pa
ny w
ill
be
ma
de
exc
ep
t b
y m
ea
ns
of
a s
tatu
tory
off
eri
ng
do
cum
en
t co
nta
inin
g d
eta
ile
d i
nfo
rma
tio
n a
bo
ut
the
Co
mp
an
y.
Th
is P
rese
nta
tio
n h
as
be
en
pre
pa
red
by t
he
Co
mp
an
y b
ase
d o
n i
nfo
rma
tio
n a
nd
da
ta w
hic
h t
he
Co
mp
an
y c
on
sid
ers
re
lia
ble
, b
ut
the
Co
mp
an
ym
ake
sn
ore
pre
sen
tati
on
or
wa
rra
nty
,e
xpre
sso
rim
pli
ed
,w
ha
tso
eve
r,a
nd
no
reli
an
cesh
all
be
pla
ced
on
,th
etr
uth
,
acc
ura
cy,
com
ple
ten
ess
, fa
irn
ess
an
d r
ea
son
ab
len
ess
of
the
co
nte
nts
of
this
Pre
sen
tati
on
. T
his
Pre
sen
tati
on
ma
y n
ot
be
all
incl
usi
ve
an
d m
ay n
ot
con
tain
all
of
the
in
form
ati
on
th
at
yo
u m
ay c
on
sid
er
ma
teri
al.
An
y l
iab
ilit
y i
n r
esp
ect
of
the
co
nte
nts
of,
or
an
y o
mis
sio
n f
rom
, th
is P
rese
nta
tio
n is
exp
ress
ly e
xclu
de
d.
Ce
rta
in m
att
ers
dis
cuss
ed
in
th
is P
rese
nta
tio
n m
ay c
on
tain
sta
tem
en
ts r
eg
ard
ing
th
e Company’s
ma
rke
t o
pp
ort
un
ity a
nd
bu
sin
ess
pro
spe
cts
tha
t a
re i
nd
ivid
ua
lly a
nd
co
lle
ctiv
ely
fo
rwa
rd-l
oo
kin
g s
tate
me
nts
. Su
ch f
orw
ard
-lo
okin
g s
tate
me
nts
are
no
t g
ua
ran
tee
s
of
futu
re p
erf
orm
an
ce a
nd
are
su
bje
ct t
o k
no
wn
an
d u
nkn
ow
n r
isks,
un
cert
ain
tie
s a
nd
ass
um
pti
on
s th
at
are
dif
ficu
lt t
o p
red
ict.
Th
ese
ris
ks
an
d u
nce
rta
inti
es
incl
ud
e,
bu
t a
re n
ot
lim
ite
d t
o,
the
pe
rfo
rma
nce
of
the
In
dia
n e
con
om
y a
nd
of
the
eco
no
mie
so
f
va
rio
us
inte
rna
tio
na
l m
ark
ets
, th
e p
erf
orm
an
ce o
f th
e i
nd
ust
ry i
n I
nd
ia a
nd
wo
rld
-wid
e,
com
pe
titi
on
, th
e company’s
ab
ilit
y t
o
succ
ess
fully
im
ple
me
nt
its
stra
teg
y, t
he
Company’s
fu
ture
le
ve
ls o
f g
row
th a
nd
exp
an
sio
n,
tech
no
log
ica
l im
ple
me
nta
tio
n,
cha
ng
es
an
d a
dva
nce
me
nts
, ch
an
ge
s in
re
ve
nu
e,
inco
me
or
cash
flo
ws,
th
e Company’s
ma
rke
t p
refe
ren
ces
an
d i
ts e
xpo
sure
to
ma
rke
t
risk
s, a
s w
ell
as
oth
er
risk
s. T
he
Company’s
act
ua
l re
sult
s, l
eve
ls o
f a
ctiv
ity,
pe
rfo
rma
nce
or
ach
ieve
me
nts
co
uld
dif
fer
ma
teri
all
y
an
d a
dve
rse
ly f
rom
re
sult
s e
xpre
sse
d i
n o
r im
plie
d b
y t
his
Pre
sen
tati
on
. T
he
Co
mp
an
y a
ssu
me
s n
o o
bli
ga
tio
n t
o u
pd
ate
an
y
forw
ard
-lo
okin
g in
form
ati
on
co
nta
ine
d in
th
is P
rese
nta
tio
n.
An
y fo
rwa
rd-l
oo
kin
g st
ate
me
nts
a
nd
p
roje
ctio
ns
ma
de
b
y th
ird
pa
rtie
s in
clu
de
d i
n t
his
Pre
sen
tati
on
are
no
t a
do
pte
d b
y t
he
Co
mp
an
y a
nd
th
e C
om
pa
ny i
s n
ot
resp
on
sib
le f
or
such
th
ird
pa
rty
sta
tem
en
ts a
nd
pro
ject
ion
s.
Safe
Harb
or
V2
2
3
BU
SIN
ES
S O
VE
RV
IEW
4
PLY
WO
OD
1
1
LAM
INA
TE
S
15
CO
NTA
INE
R F
RE
IGH
T S
TAT
ION
S
16
FIN
AN
CIA
LS
22
Co
nte
nts
3
Bu
sin
ess O
vervie
w
Ind
ia’s
le
ad
ing
Ply
wo
od
co
mp
an
y
Pa
n-
Ind
ia:
6
Ma
nu
fact
uri
ng
fa
cili
tie
s
Str
ate
gic
all
y
loca
ted
a
cro
ss
Ind
ia,
ne
ar
Ko
lka
ta i
n E
ast
, n
ea
r K
an
dla
in
We
st,
ne
ar
Ch
en
na
i in
S
ou
th,
ne
ar
De
lhi
in
No
rth
,
ne
ar
Gu
wa
ha
ti
in
No
rth
E
ast
a
nd
n
ea
r
Ro
ora
ke
e i
n C
en
tra
l.
On
e U
nit
in
My
an
ma
r
Co
ntr
ols
alm
ost
25
% o
f o
rga
nis
ed
ma
rke
t
Ca
pa
citi
es
: T
imb
er
Pe
eli
ng
21
00
00
CB
M
an
d P
lyw
oo
d :
21
00
00
CB
M .
Hig
he
st i
n
Ind
ia.
Fu
lly
In
teg
rate
d o
pe
rati
on
s
Wid
e r
an
ge
of
pro
du
cts
for
dif
fere
nt
cust
om
er
seg
me
nts
PLY
WO
OD
A
mo
ng
to
p t
hre
e l
am
ina
te p
rod
uce
rs
Fu
lly
in
teg
rate
d p
lan
t n
ea
r K
olk
ata
Ca
pa
city
– 4
.8 M
illi
on
Sh
ee
ts
Fo
cus
on
nic
he
se
gm
en
t a
nd
va
lue
ad
de
d
pro
du
cts
LAM
INA
TE
S
OT
HE
RS
Ea
ste
rn I
nd
ia’s
la
rge
st a
nd
fir
st p
riv
ate
ly
ow
ne
d C
FS,
loca
ted
ne
ar
Ko
lka
ta P
ort
éA
rea
of
~ 1
00
,00
0 s
qm
éC
ap
aci
ty t
o h
an
dle
16
0,0
00
TE
Us
CO
NTA
INE
R F
RE
IGH
T S
TAT
ION
S (
CFS
)
IN
DIA
’S L
EA
DIN
G P
LYW
OO
D C
OM
PA
NY
NY
4
Ma
inly
Fu
rnit
ure
Tra
din
g a
nd
Mo
du
lar
Kit
che
n
5
Revenue m
ix F
Y 2
014
EBID
TA m
ix F
Y 2
014
EBIT
mix
FY 2
014
Revenue m
ix Q
1FY
15
EBID
TA m
ix Q
1FY
15
EBIT
mix
Q1FY
15
Ply
wo
od
27
4.86
L
amin
ates
62
.73
Lo
gis
tics
1
4.89
O
ther
s
8.37
P
lyw
oo
d
39.4
3
Lam
inat
es 6
.7
Lo
gis
tics
5
.88
O
ther
s
(0.
11)
Ply
wo
od
34
.76
L
amin
ates
3
.69
Lo
gis
tics
3
.32
Oth
ers
(0.
30)
Rs.
Cro
res
Seg
men
t co
ntr
ibu
tio
n i
n F
Y2
01
4
Ma
jor
Re
ven
ue
co
me
s fr
om
Ply
wo
od
d
6
PR
OM
OTE
RS
Sa
jja
n B
ha
jan
ka,
Exe
cuti
ve C
ha
irm
an
éG
rad
ua
te w
ith
45
ye
ars
of
ind
ust
ry e
xp
eri
en
ce
éR
esp
on
sib
le f
or
the
ov
era
ll s
tra
teg
ic d
ire
ctio
n
an
d P
rod
uct
ion
, F
ina
nce
, Tr
ea
sury
dir
ect
ly
é C
on
sid
ere
d a
s Ic
on
of
Ind
ian
Ply
wo
od
in
du
stry
éP
resi
de
nt
of
Fed
era
tio
n o
f In
dia
n P
lyw
oo
d a
nd
Pa
ne
l In
du
stry
& A
ll I
nd
ia V
en
ee
r m
an
ufa
ctu
res
ass
oci
ati
on
éG
ov
ern
ing
bo
dy
me
mb
er
of
Ind
ian
Ply
wo
od
Ind
ust
rie
s R
ese
arc
h a
nd
Tra
inin
g I
nst
itu
te
éH
old
s 2
6.7
1%
of
tota
l sh
are
ho
ldin
g
Sa
nja
y A
ga
rwa
l ,C
EO
an
d M
an
ag
ing
Dir
ect
or
éG
rad
ua
te w
ith
30
ye
ars
of
ind
ust
ry e
xp
eri
en
ce
éR
esp
on
sib
le f
or
Sa
les,
Ma
rke
tin
g,
IT a
nd
HR
éS
ucc
ess
full
y c
rea
ted
‘C
en
tury
Ply
’ B
ran
d
éH
old
s 2
6.5
4%
of
tota
l sh
are
ho
ldin
g
Vis
hn
u K
he
ma
ni,
M
an
ag
ing
Dir
ect
or
éG
rad
ua
te w
ith
30
ye
ars
of
ind
ust
ry e
xp
eri
en
ce
éR
esp
on
sib
le f
or
Tim
be
r P
rocu
rem
en
t a
nd
He
ad
s S
ou
th I
nd
ia o
pe
rati
on
s o
f P
lyw
oo
d
éH
old
s 8
.59
% o
f to
tal
sha
reh
old
ing
Pre
m B
ha
jan
ka,
Ma
na
gin
g D
ire
cto
r
éG
rad
ua
te w
ith
30
ye
ars
of
ind
ust
ry e
xp
eri
en
ce
éR
esp
on
sib
le f
or
Tim
be
r p
rocu
rem
en
t a
nd
op
era
tio
ns
of
fou
r u
nit
s in
cl.
Mya
nm
ar
éH
old
s 6
.24
% o
f to
tal
sha
reh
old
ing
H
ari
Pra
sad
Ag
arw
al,
Exe
cuti
ve D
ire
cto
r
éG
rad
ua
te w
ith
48
ye
ars
of
ad
min
istr
ati
ve
ex
pe
rie
nce
éR
esp
on
sib
le f
or
Ge
ne
ral A
dm
inis
tra
tio
n
éH
old
s 6
.38
% o
f to
tal
sha
reh
old
ing
Pro
fess
ion
all
y o
wn
ed
w
ith
74
.46
% p
rom
ote
rs’
sha
reh
old
ing
g
6
7
Key M
an
ag
em
en
t Team
An
oo
p H
oo
n,
Pre
sid
en
t –
Sa
les
& M
ark
eti
ng
éX
LRI
gra
du
ate
wit
h v
ari
ed
ex
pe
rie
nce
ov
er
35
ye
ars
in
clu
din
g 1
3 y
ea
rs a
s m
ark
eti
ng
he
ad
of
Asi
an
Pa
ints
éR
esp
on
sib
le f
or
Sa
les
an
d M
ark
eti
ng
`
Ash
uto
sh J
ais
wa
l, P
resi
de
nt
( C
FS O
pe
rati
on
s)
éB
.Sc
wit
h v
ari
ed
ex
pe
rie
nce
ov
er
30
ye
ars
éH
ea
ds
CFS
Div
isio
n a
nd
in
tern
ati
on
al t
rad
e
éP
resi
de
nt
of
Ea
ste
rn C
ha
pte
r o
f C
FS A
sso
cia
tio
n
Su
ga
ta H
ald
er,
GM
(H
um
an
Re
sou
rce
s)
éP
GD
M i
n H
um
an
Re
sou
rce
Ma
na
ge
me
nt
wit
h 2
2
ye
ars
e
xp
eri
en
ce
in
HR
m
att
ers
, in
clu
din
g
7
ye
ars
as
Re
gio
na
l H
R h
ea
d o
f B
ha
rti
Air
tel
éR
esp
on
sib
le f
or
HR
ma
tte
rs
Am
it G
op
e ,
GM
- B
ran
din
g
éM
BA
(M
ark
eti
ng
) fr
om
XIM
B,
wit
h 2
1 y
ea
rs
ex
pe
rie
nce
in B
ran
din
g m
att
ers
incl
ud
ing
7 y
ea
rs
wit
h V
od
afo
ne
, A
irte
l a
nd
Un
ino
r
éR
esp
on
sib
le f
or
Bra
nd
ing
re
late
d a
ctiv
itie
s
Aru
n J
ula
sari
a ,
CFO
éF
CA
, F
CS
wit
h v
ari
ed
ex
pe
rie
nce
ov
er
25
ye
ars
éR
esp
on
sib
le f
or
Fin
an
ce,
Acc
ou
nts
, A
ud
it
Tre
asu
ry,
Co
rpo
rate
Str
uct
uri
ng
, N
ew
Pro
ject
s.
éIn
stru
me
nta
l in
im
ple
me
nta
tio
n o
f S
AP
Aja
y B
ald
aw
a,
Exe
cuti
ve
Dir
ect
or
(Te
chn
ica
l)
éM
.Te
ch f
rom
IIT
wit
h 3
0 y
ea
rs o
f p
lyw
oo
d
ind
ust
ry e
xp
eri
en
ce.
éR
esp
on
sib
le f
or
all
te
chn
ica
l m
att
ers
éM
em
be
r B
IS T
ech
nic
al C
om
mit
tee
fo
r P
lyw
oo
d
Pro
fess
ion
all
y M
an
ag
ed
by
we
ll q
ua
lifi
ed
an
d s
ea
son
ed
pro
fess
ion
alsls
7
Cen
turyp
ly -
Bran
d
Str
on
g B
ran
d v
alu
e
é2
5 Y
ea
r O
ld –
Co
mp
eti
tiv
e s
urv
ivo
r -
Ind
ia’s
le
ad
ing
ply
wo
od
bra
nd
éTo
p 1
00
mo
st v
alu
ab
le b
ran
ds
of
Ind
ia a
s p
er
4P
Su
rve
y 2
01
0
éO
ne
of
Na
tio
n’s
to
p 2
00
Po
we
r B
ran
ds
– ‘
Leg
acy
’, ‘R
eca
ll’
& ‘
Tru
st’
éC
en
tury
Ply
ha
s b
ee
n a
do
rne
d a
s ‘M
ast
er
Bra
nd
’ b
y t
he
CM
O c
ou
nci
l
Ce
leb
rity
En
do
rse
me
nts
é
Late
Cri
cke
ter
Na
wa
b P
ata
ud
i an
d S
ha
rmil
a T
ag
ore
(B
ran
d A
mb
ass
ad
or)
é
Bo
lly
wo
od
Ba
dsh
ah
Sh
ah
ruk
h K
ha
n (
th
rou
gh
pu
bli
city
sp
on
sori
ng
of
mo
vie
s B
illu
Ba
rbe
r a
nd
M
y n
am
e i
s K
ha
n )
é
Bo
lly
wo
od
Sh
ah
en
sha
h A
mit
ab
h B
ach
cha
n (
th
rou
gh
pu
bli
city
sp
on
sori
ng
of
mo
vie
A
ara
ksh
an
)
éN
an
a P
ate
ka
r (
Bra
nd
Am
ba
ssa
do
r)
Re
gu
lar
Bra
nd
In
ve
stm
en
t é
An
nu
al
spe
nd
of
ab
ou
t 4
% o
f P
lyw
oo
d R
ev
en
ue
éA
gg
reg
ate
bra
nd
in
ve
stm
en
t o
f R
s. 2
24
cro
re i
n l
ast
de
cad
e
Co
nsu
me
r P
erc
ep
tio
n
éC
om
ma
nd
s p
rem
ium
ov
er
pe
ers
éT
he
be
st Q
ua
lity
Ply
wo
od
in
In
dia
éTo
p –
of-
th
e m
ind
aw
are
ne
ss o
f 9
8%
(S
ou
rce
- S
yn
ov
ate
)
Ind
ia’s
mo
st p
refe
rre
d a
nd
hig
he
st s
ell
ing
Ply
wo
od
Bra
nd
nd
8
9
Mo
re a
bo
ut
Cen
turyp
ly
32
Ye
ar
Old
Co
mp
an
y p
rom
ote
d b
y f
irst
ge
ne
rati
on
pro
mo
ters
s
AS
SE
T L
IGH
T M
OD
EL
EL-L-
- C
ap
ex
ex x
Turn
ove
r R
ati
o 1
:5
5
Ma
ide
n I
PO
in
19
97
, T
ill
da
te t
ota
l fu
nd
ra
ise
d 1
3.4
6
6C
rorere
e
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(in
clc
cl7
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pro
mo
ters
)rs
) e
n I
PO
in
19
97
, T
ill
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te t
ota
l fu
nd
ra
ise
d 1
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66
ror
Cr
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nc
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5%
pro
m7
57
Un
inte
rru
pte
d D
ivid
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nd
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00
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re
turn
to
In
vest
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ot
s
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TE
CH
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LOG
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n S
AP
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P
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OT
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ES
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irst
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tro
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ore
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ech
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y i
n I
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ia
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In
dia
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bu
st
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nch
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ice
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r 3
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Ma
nu
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ng
Un
its
Ply
*
6
Ply
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nm
ar#
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ina
tes
1
CFS
2
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trib
uti
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rk*
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l*
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ect
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clu
de
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ea
lers
, su
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lers
, re
tail
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tle
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tc.
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stra
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e m
ap
*In
clu
de
s o
ne
su
bsi
dia
ry (
51
%)
un
it
# P
ly M
ya
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ar
is 1
00
% s
ub
sid
iary
10
Re
gio
na
l D
ist
Ce
ntr
e
5
Ind
ian
Ply
wo
od
& P
an
el
Ind
ust
ry i
s ~
Rs.
15
,00
0 C
rs.
éS
ha
re o
f o
rga
niz
ed
se
cto
r i
s 3
0%
é5
0%
of
org
an
ize
d m
ark
et
con
tro
lle
d b
y t
wo
na
tio
na
l p
lay
ers
Ce
ntu
ry a
nd
Gre
en
. A
t n
ati
on
al
lev
el
vir
tua
l oli
go
po
ly.
éB
ala
nce
50
% a
re r
eg
ion
ba
sed
co
nfi
ne
d t
o o
ne
or
two
sta
tes
éO
ve
rall
In
du
stry
ex
pe
cte
d t
o g
row
at
10
%
éO
rga
niz
ed
se
cto
r to
gro
w a
t a
fa
ste
r p
ace
of
25
% -
30
%
Gro
wth
Dri
ve
rs
éG
row
ing
Re
al
Est
ate
an
d C
on
stru
ctio
n s
ect
or
éN
ew
Go
ve
rnm
en
t’s
em
ph
asi
s o
n i
nfr
ast
ruct
ure
an
d h
ou
sin
g
éR
isin
g p
er
Ca
pit
a I
nco
me
an
d g
row
ing
em
plo
ym
en
t o
pp
ort
un
itie
s
éU
rba
niz
ati
on
an
d G
ov
ern
me
nt
pro
po
sal
of
ne
w s
ate
llit
e c
itie
s
éA
ffo
rda
ble
Ho
usi
ng
Lo
an
s. R
ece
nt
po
licy
me
asu
res
éR
ed
uce
d H
om
e r
en
ov
ati
on
cy
cle
fro
m 1
5 y
ea
rs (
de
cad
e b
ack
) to
5 y
ea
rs
In
dia
n P
lyw
oo
d I
nd
ustr
y (
Overvie
w 1
)
11
Ho
usi
ng
an
d I
nfr
ast
ruct
ure
are
ke
y g
row
th d
rive
rs
rs
11
Fast
er
Org
an
ize
d S
ect
or
gro
wth
é
Org
an
ize
d s
ect
or
sha
re h
as
gro
wn
fro
m 1
0%
( d
eca
de
ba
ck)
to 3
0%
éO
rga
niz
ed
se
cto
r su
ffe
red
d
ue
to
hig
h E
xcis
e D
uty
of
16
% w
hic
h w
as
red
uce
d t
o 8
% i
n 2
00
6
an
d n
ow
pe
gg
ed
at
12
%
éW
ith
m
igra
tio
n
fro
m
Sa
les
Tax
to
V
AT
sy
ste
m,
the
cr
ed
it
for
sta
te
taxe
s is
a
va
ila
ble
in
su
bse
qu
en
t tr
an
sact
ion
s
éO
rga
niz
ed
Se
cto
r h
as
vo
lum
e a
nd
su
pp
ly c
ha
in a
dv
an
tag
e
éB
ran
d a
nd
Qu
ali
ty a
wa
ren
ess
ha
s ch
arg
ed
org
an
ize
d s
ect
or
gro
wth
éO
rga
niz
ed
se
cto
r o
ffe
r P
rod
uct
in
no
va
tio
n,
Wid
er
Ch
oic
e a
nd
Wa
rra
nty
éP
rop
ort
ion
of
Ply
wo
od
in
to
tal
inte
rio
r co
st i
s n
ow
co
nsi
de
rab
ly r
ed
uce
d d
ue
to
use
of
cost
ly
an
d f
an
cy i
nte
rio
r m
ate
ria
ls,
he
nce
co
st i
ssu
e i
s d
ilu
ted
éG
ST
wil
l be
a g
am
e c
ha
ng
er
GS
T G
am
e C
ha
ng
er
éG
ST
wil
l a
dd
ress
co
mp
lex
itie
s a
nd
in
eff
icie
nci
es
of
curr
en
t in
dir
ect
ta
x f
ram
ew
ork
th
rou
gh
ro
bu
st t
ech
no
log
y p
latf
orm
. P
ost
GS
T c
lan
de
stin
e b
usi
ne
ss w
ill
be
alm
ost
im
po
ssib
le
éG
ST
wil
l pu
t b
oth
org
an
ize
d a
nd
un
org
an
ize
d s
ect
or
at
lev
el
pla
yin
g f
ield
.
éG
ST
wil
l ad
dre
ss d
ou
ble
ta
xati
on
, ca
sca
din
g e
ffe
cts
an
d r
eg
ion
al
dis
pa
riti
es
in t
ax
ra
tes
éP
ost
GS
T I
nte
r st
ate
tra
nsa
ctio
ns
wil
l b
e t
ax
ne
utr
al.
éG
ST
wil
l b
e a
win
-win
sit
ua
tio
n f
or
all
sta
ke
ho
lde
rs i
.e G
ov
ern
me
nt,
Ho
ne
st B
usi
ne
ssm
en
an
d
Co
nsu
me
rs a
s it
wil
l lo
we
r ta
x i
nci
de
nce
, e
ase
bu
sin
ess
an
d i
ncr
ea
se t
ax
bu
oy
an
cy c
ou
ple
d
wit
h t
ax
co
lle
ctio
n.
As
pe
r a
stu
dy
ca
rrie
d o
ut
GS
T w
ill
ha
ve
sig
nif
ica
nt
po
siti
ve
im
pa
ct o
n
GD
P g
row
th
In
dia
n P
lyw
oo
d I
nd
ustr
y (
Overvie
w 2
)
12
O
rga
niz
ed
Se
cto
r w
ill
gro
w f
ast
er
an
d G
ST
will
be
ga
me
ch
an
ge
re
r
Ind
ust
ry C
ha
lle
ng
es
éR
aw
Ma
teri
al
Lin
ka
ge
s
éFo
reig
n E
xch
an
ge
Vo
lati
lity
éLa
bo
ur
inte
nsi
ve
éU
no
rga
niz
ed
se
cto
r d
om
ina
nce
éE
nv
iro
nm
en
tal R
eg
ula
tio
ns
Ind
ust
ry O
pp
ort
un
itie
s
éP
ote
nti
al H
ou
sin
g a
nd
In
fra
stru
ctu
re b
oo
m
éG
ST
éS
tab
le G
ov
ern
me
nt,
De
ve
lop
me
nt,
Em
plo
ym
en
t o
pp
ort
un
itie
s, G
DP
Gro
wth
éLo
gis
tic
an
d S
up
ply
ch
ain
ad
va
nta
ge
s
éV
olu
me
ad
va
nta
ge
s
éB
ran
d a
nd
Qu
ali
ty a
wa
ren
ess
éS
up
po
rtiv
e G
ov
ern
me
nt
po
lici
es
In
dia
n P
lyw
oo
d I
nd
ustr
y(C
hallen
ges a
nd
op
po
rtu
nit
ies)
13
Org
an
ize
d p
lyw
oo
d i
nd
ust
ry i
s e
qu
all
y p
ois
ed
to
Ch
all
en
ge
s a
nd
op
po
rtu
nit
ies
es
Ce
ntu
ry P
ly p
osi
tio
n
éP
an
In
dia
p
rese
nce
w
ith
st
rate
gic
lo
cati
on
s o
f si
x
ma
nu
fact
uri
ng
fa
cili
tie
s
acr
oss
all
pa
rts
of
Ind
ia (
No
rth
, S
ou
th,
Ea
st,
We
st,
No
rth
Ea
st,
an
d C
en
tra
l)
éR
ob
ust
p
an
In
dia
d
istr
ibu
tio
n
ne
two
rk
of
30
b
ran
che
s w
ith
a
de
qu
ate
wa
reh
ou
sin
g f
aci
liti
es.
Ab
ou
t 1
50
0 D
ea
lers
/Dis
trib
uto
rs .
éM
ax
imu
m l
og
isti
c a
dv
an
tag
e,
pro
xim
ity
to
ra
w-m
ate
ria
l a
nd
at
do
ors
tep
of
cust
om
ers
.
éH
igh
est
Vo
lum
e a
nd
ad
eq
ua
te c
ap
aci
tie
s fo
r fu
ture
gro
wth
éA
de
qu
ate
Ra
w-m
ate
ria
l li
nk
ag
es.
Fir
st m
ov
er
in M
ya
nm
ar
éM
ost
pre
ferr
ed
Bra
nd
an
d c
on
sum
er
fait
h
éR
eta
il d
riv
en
bu
sin
ess
mo
de
l.
éP
rofe
ssio
na
lly
ow
ne
d a
nd
pro
fess
ion
all
y m
an
ag
ed
éC
ord
ial
lab
ou
r re
lati
on
s. I
nce
nti
ve
ba
sed
wa
ge
s sy
ste
m.
Hig
he
st p
rod
uct
ivit
y
é R
ea
dy
fo
r e
xp
on
en
tia
l g
row
th
In
dia
nP
lyw
oo
d I
nd
ustr
y (
Ou
r P
osit
ion
ing
)
14
Org
an
ize
d S
ect
or
wil
l g
row
fa
ste
r a
nd
GS
T w
ill
be
ga
me
ch
an
ge
re
r
Lam
inate
s
Ind
ust
ry S
cen
ari
o
éLa
min
ate
s a
re u
sed
to
pro
vid
e a
n a
est
he
tic
loo
k t
o p
lyw
oo
d
éB
usi
ne
ss s
yn
erg
y -
Ply
wo
od
an
d L
am
ina
tes
ha
ve
sa
me
cu
sto
me
r b
ase
é
Gro
wth
dri
ve
rs f
or
Lam
ina
te a
re s
am
e a
s P
lyw
oo
d
éLa
min
ate
s m
ark
et
is o
rga
niz
ed
an
d s
em
i o
rga
niz
ed
é
Ra
w M
ate
ria
l fo
r La
min
ate
s a
re p
ap
er
an
d c
he
mic
als
é
Ra
w M
ate
ria
ls a
re b
oth
im
po
rte
d a
nd
in
dig
en
ou
s. A
va
ila
ble
an
d n
o c
ha
lle
ng
e.
Ou
r P
osi
tio
n
éC
en
tury
is
thir
d l
arg
est
pro
du
cer
of
Lam
ina
tes
in I
nd
ia.
éG
ree
n L
am
, M
eri
no
an
d R
oy
al
tou
ch a
re p
ee
rs
éW
e h
av
e a
ug
me
nte
d o
ur
cap
aci
ty f
rom
2.4
to
4.8
Mil
lio
n s
he
ets
é
En
ha
nce
d c
ap
aci
ty w
ill
en
ab
le i
ncr
ea
se o
f m
ark
et
sha
re
éA
lso
ha
ve
fa
cili
ty o
f M
DF
an
d P
art
icle
Bo
ard
Pre
-la
min
ati
on
é
Alm
ost
23
% o
f La
min
ate
re
ve
nu
e i
s fr
om
Ex
po
rt
éA
dd
ress
ing
to
nic
he
se
gm
en
t é
In I
nd
ia f
irst
tim
e l
au
nch
ed
Ex
teri
a g
rad
e l
am
ina
te,
use
d f
or
Bu
ild
ing
fa
çad
e
éA
lmo
st 7
00
SK
Us
in e
xis
tin
g f
old
er
an
d a
dd
ing
alm
ost
10
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ve
ry y
ea
r é
Dis
trib
uti
on
an
d s
up
ply
ch
ain
ch
all
en
ge
bu
t a
dd
ress
ed
th
rou
gh
Re
gio
na
l D
istr
ibu
tio
n C
en
ters
é
Use
d in
Pa
rtit
ion
wa
ll,
fals
e c
eil
ing
etc
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sed
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av
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co
ng
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du
e t
o c
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sist
en
t tr
aff
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row
th
Co
nta
ine
r Tr
aff
ic a
t K
olk
ata
ex
pe
cte
d t
o g
row
at
a C
AG
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ste
rn I
nd
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fir
st p
riva
tely
ow
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d C
FS
wit
h l
ate
st t
ech
no
log
yg
y
Fir
st P
riv
ate
ly o
wn
ed
CFS
of
Ea
ste
rn I
nd
ia (
at
Ko
lka
ta P
ort
)
Tw
o C
FS c
ov
eri
ng
1 L
ac
Sq
ua
re m
ete
r a
rea
Co
mp
lete
ne
w f
aci
liti
es
wit
h s
tate
-of-
the
-art
te
chn
olo
gy
RF
ID/G
PS
/GP
RS
ba
sed
co
nta
ine
r tr
ack
ing
sy
ste
m
Ca
pa
city
15
00
00
TE
Us
(15
da
ys
dw
ell
ing
tim
e b
asi
s)
En
titl
ed
to
10
ye
ars
Ta
x b
en
efi
t U
/s 8
0IA
of
the
In
com
e T
ax
Act
Op
era
tio
na
l sin
ce 2
00
8-0
9
Hig
h E
BID
TA b
usi
ne
ss w
ith
ve
ry l
ow
ris
k
Pro
fit
mu
ltip
ly w
ith
vo
lum
e i
ncr
ea
se
Ma
na
ge
d b
y P
rofe
ssio
na
ls
Ko
lka
ta
Po
rt CENTURY CFS
16
Co
nta
iner F
reig
ht
Sta
tio
ns (
CFS
)
Exp
lori
ng
Ne
w r
ela
ted
bu
sin
ess
id
ea
s, w
ith
fo
rwa
rd i
nte
gra
tio
n o
utl
oo
ko
k
Ex
plo
rin
g n
ew
bu
t re
late
d b
usi
ne
ss i
de
as
En
tere
d F
urn
itu
re t
rad
ing
bu
sin
ess
in
20
12
wit
h t
wo
pil
ot
reta
il
sho
wro
om
s a
t K
olk
ata
an
d B
an
ga
lore
Ba
sed
o
n
2
ye
ars
e
xp
eri
en
ce
an
d
rese
arc
h
de
cid
ed
to
la
un
ch
mo
du
lar
kit
che
n
ma
de
o
f w
ate
rpro
of
ply
wo
od
w
ith
a
ll-p
roo
f
gu
ara
nte
e a
nd
cu
sto
m m
ad
e d
esi
gn
s.
Ma
nu
fact
uri
ng
ou
tso
urc
ed
usi
ng
ou
r p
lyw
oo
d a
nd
la
min
ate
s
Th
e m
od
ula
r k
itch
en
ma
rke
t in
In
dia
is
at
ve
ry n
asc
en
t st
ag
e w
ith
Rs.
12
Bil
lio
n (
in
20
12
) a
nd
ha
s p
ote
nti
al
to g
row
to
Rs.
60
Bil
lio
n
by
20
16
.
All
th
e m
od
ula
r k
itch
en
s a
va
ila
ble
in
In
dia
ha
ve
du
rab
ilit
y i
ssu
e a
s
the
y a
re m
ad
e o
f M
DF
lik
e m
ate
ria
l. W
e a
re u
sin
g w
ate
r p
roo
f
ply
wo
od
. M
ark
et
ha
s re
spo
nd
ed
po
siti
ve
ly.
Wil
l e
xp
an
d t
his
bu
sin
ess
th
rou
gh
fra
nch
ise
e m
od
el o
nly
FURNITURE AND MODULAR KITCHEN
17
Oth
ers (
Main
ly H
om
e I
mp
ro
vem
en
t)
Great
In
dia
n O
pp
ortu
nit
y
18
Sta
ble
Go
ve
rnm
en
t
Str
on
g L
ea
de
rsh
ip
Fre
sh O
pti
mis
m
Str
on
ge
r a
nd
Sta
ble
Ru
pe
e
Ho
usi
ng
Se
cto
r p
ush
Aff
ord
ab
le h
ou
sin
g l
oa
n
Hig
h a
pa
rtm
en
t in
ve
nto
ry t
o b
e p
rog
ress
ive
ly l
iqu
ida
ted
GS
T i
mp
lem
en
tati
on
op
tim
ism
Focu
s o
n I
nfr
ast
ruct
ure
an
d D
ev
elo
pm
en
t
Incr
ea
sed
ho
spit
ali
ty,
he
alt
hca
re a
nd
go
ve
rnm
en
t sp
en
din
g
G
am
e C
han
ger a
t C
en
tury
19
Ad
eq
ua
te R
aw
Ma
teri
al
Se
curi
ty.
Fir
st m
ov
er
ad
va
nta
ge
at
My
an
ma
r (U
na
ffe
cte
d b
y t
imb
er
ba
n)
Sta
ble
a
nd
st
ren
gth
en
ing
ru
pe
e
to
resu
lt
in
low
er
raw
ma
teri
al
cost
an
d f
ore
x a
dv
an
tag
es
Be
ne
fici
ary
of
Go
ve
rnm
en
t’s
ho
usi
ng
an
d i
nfr
ast
ruct
ure
th
irst
Targ
eti
ng
25
% Y
OY
re
ve
nu
e g
row
th
Re
cen
t ca
pa
city
ex
pa
nsi
on
s ca
n t
ak
e c
are
of
25
% Y
OY
gro
wth
for
ne
xt
two
ye
ars
. H
igh
op
era
tio
na
l le
ve
rag
e
Imp
rov
ed
re
ve
nu
e a
nd
pro
fita
bil
ity
Ag
gre
ssiv
e m
ark
eti
ng
wit
h f
ocu
s o
n n
ew
se
gm
en
ts
Ov
era
ll r
ob
ust
FY
15
( t
o c
on
tin
ue
)
Fin
an
cia
l Ta
rge
ts
éM
inim
um
YO
Y g
row
th o
f 2
5%
( R
s. 5
00
0 C
rore
by
20
20
)
éIm
pro
vin
g p
rofi
tab
ilit
y, E
BID
TA,
RO
E,
RO
CE
(
Rs.
50
0 C
rore
NP
by
20
20
)
Ra
w m
ate
ria
l li
nk
ag
es
éR
aw
ma
teri
al
ava
ila
bil
ity
& c
ost
- C
ruci
al
for
lon
g t
erm
su
sta
ina
bil
ity
of
bu
sin
ess
éE
valu
ati
ng
lin
kag
e o
pp
ort
un
itie
s g
lob
all
y
Focu
s o
n N
ew
ma
rke
t se
gm
en
t
éN
ow
fo
cusi
ng
on
un
tap
pe
d m
ark
et
seg
me
nts
in s
ma
lle
r ci
tie
s
éM
ore
an
d m
ore
fo
cus
on
ou
tso
urc
ing
to
me
et
de
ma
nd
of
eco
no
mic
ra
ng
e
éA
lre
ad
y l
au
nch
ed
eco
no
my
bra
nd
s (M
axi
ma
, S
ain
ik)
En
try
in
MD
F b
usi
ne
ss
éH
as
en
tere
d M
DF
bu
sin
ess
on
ou
tso
urc
e m
od
el
( F
rom
Vie
tna
m)`
éW
ill
eva
lua
te e
con
om
ic v
iab
ilit
y o
f se
ttin
g u
p M
DF
un
it a
t a
pp
rop
ria
te t
ime
Ex
plo
rin
g M
od
ula
r F
urn
itu
re a
nd
Kit
che
n
éA
lre
ad
y e
nte
red
on
co
ntr
act
ma
nu
fact
uri
ng
an
d F
ran
chis
e m
ark
eti
ng
éE
valu
ati
ng
ma
rke
t a
nd
via
bil
ity
of
forw
ard
in
teg
rati
on
Fu
ture H
oriz
on
s a
nd
Vis
ion
20
20
20
Ag
gre
ssiv
e G
row
th T
arg
ets
wit
h R
aw
ma
teri
al
secu
rity
an
d o
uts
ou
rce
mo
de
le
l
Mu
lti-
ply
Co
mp
eti
tive a
dvan
tag
e s
um
mary
21
§W
ell e
stablish
ed B
rand
§C
onsu
mer
Choic
e
§Est
ablish
ed m
ark
et
leaders
hip
§R
eta
il D
riven B
usi
ness
§Pan India
dis
trib
uti
on n
et
work
§In
vest
ing in S
ale
s C
om
pete
ncie
s
§Q
uality
Pro
ducts
§C
om
ple
te r
ange o
f Pro
ducts
§Pro
duct
Innovati
on
§Fir
st G
enera
tion P
rom
ote
rs
§Pro
fess
ionally M
anaged
§IT
and S
yst
em
Dri
ven
§Suff
icie
nt
Capacit
ies
§R
aw
-mate
rial
securi
ty
§Pois
ed f
or
Gro
wth
§Benefi
cia
ry o
f N
ew
Govt.
Policie
s
§Str
ong F
inancia
ls
§In
vest
or
frie
ndly
Wit
h a
ll it
s a
dva
nta
ge
s C
en
tury
is p
ois
ed
to
ta
ke a
dva
nta
ge
of
gre
at
Ind
ian
op
po
rtu
nit
yty
21
22
Fin
an
cia
l A
pp
en
dic
es
Pro
fit
an
d L
oss
Sta
tem
en
t
Ba
lan
ce S
he
et
Se
gm
en
t F
ina
nci
als
Ro
bu
st G
row
th R
eco
rd –
10
Ye
ars
CA
GR
Ca
pit
al
Ev
olu
tio
n
Re
turn
to
In
ve
sto
rs
Mu
lti-
ply
23
RO
BU
ST G
RO
WTH
REC
OR
D
PA
RT
ICU
LA
RS
20
03
-04
20
13
-14
CA
GR
%
TO
TA
L I
NC
OM
E
12
4.5
51
29
3.4
52
6%
EB
IDT
A1
1.2
71
57
.66
30
%
Ca
sh P
rofi
t1
0.4
51
02
.55
26
%
EB
IT9
.84
12
4.4
22
9%
PB
T9
.01
69
.32
3%
PA
T7
.31
66
.94
25
%
TO
TA
L F
IXE
D A
SS
ET
S2
2.7
92
30
.73
26
%
TO
TA
L C
AP
ITA
L E
MP
LO
YE
D5
4.7
56
41
.99
28
%
LO
NG
TE
RM
DE
BT
27
.75
11
9.8
71
6%
SH
AR
E C
AP
ITA
L4
.91
22
.25
16
%
NE
T W
OR
TH
31
.63
29
1.4
12
5%
RO
E2
3%
23
%-
RO
CE
18
%1
9%
-
AS
SE
TS
TU
RN
OV
ER
RA
TIO
5.4
75
.61
-
DE
BT
(LO
NG
TE
RM
)/E
QU
ITY
0.8
80
.41
-
CA
GR
in
th
e r
an
ge
of
25
%`
for
last
10
Ye
arsrs
24
Bala
nce S
heet
*C
red
ito
rs f
or
Imp
ort
are
co
nve
rte
d i
nto
Bu
ye
r’s
Cre
dit
to
ava
il l
ow
co
st f
ore
x cr
ed
it
Rs.
Cro
res
20
13
20
14
Q1
FY
15
Ne
t W
ort
h (
Incl
ud
ing
Sh
are
Ca
pit
al
-22
.25
Cr)
24
9.6
72
91
.41
31
5.6
1
Lon
g T
erm
De
bt
15
5.6
61
17
.98
11
8.2
4
Sh
ort
Te
rm D
eb
t (B
an
k C
C)
10
.48
11
3.9
86
7.3
7
To
tal
Lia
bil
itie
s4
15
.81
52
3.3
75
01
.22
Fix
ed
Ass
ets
22
1.6
82
30
.73
22
9.8
4
Inv
est
me
nts
15
.62
37
.89
37
.89
Cu
rre
nt
Ass
ets
-
Fin
ish
ed
Go
od
s In
ve
nto
ry6
9.8
97
3.8
17
9.0
3
-
Ra
w M
ate
ria
l In
ve
nto
ry1
47
.78
21
8.8
52
26
.75
-
Su
nd
ry D
eb
tors
18
1.6
22
04
.63
24
2.6
2
-
Ca
sh &
Ba
nk
79
.74
18
.04
18
.68
-
Oth
er
Cu
rre
nt
Ass
ets
13
.67
18
.81
9.3
8
-
Loa
ns
& A
dv
an
ces
47
.54
3.6
94
4.9
3
Cu
rre
nt
Lia
bil
ite
s
-S
un
dry
Cre
dit
ors
80
.33
74
.49
12
2.8
1
-B
uy
ers
' C
red
it *
27
8.7
82
13
.91
23
0.5
6
-O
the
rs6
1.6
61
03
.46
10
7.5
1
Ne
t C
urr
en
t A
sse
ts1
19
.43
18
5.9
71
60
.51
No
n C
urr
en
t A
sse
ts5
9.0
86
8.7
87
2.9
8
To
tal
Ass
ets
41
5.8
15
23
.37
50
1.2
2
Pro
fit
& L
oss S
um
mary
25
Imp
rove
d f
ina
nci
als
du
e t
o s
tab
le R
up
ee
an
d O
pe
rati
on
al
Eff
icie
ncy
y
Rs.
Cro
res
FY
12
-13
FY
13
-14
Q1
FY
14
Q1
FY
15
Ne
t S
ale
s1
,12
4.3
3
1,2
76
.04
28
2.2
6
36
0.8
5
Oth
er
Op
era
tin
g I
nco
me
6.8
2
7.9
3
1.4
4
1.8
9
Exp
en
dit
ure
(in
cl Fo
rex L
oss/
(Ga
in)
1,0
20
.99
1,1
19
.03
24
4.2
3
31
7.3
6
EB
ITD
A (
Be
fore
Fo
rex F
luctu
ati
on
)1
10
.16
16
4.9
4
39
.47
45
.38
EB
ITD
A M
arg
in9
.80
%1
2.9
3%
13
.98
%1
2.5
8%
Fo
reig
n E
xch
an
ge
Flu
ctu
ati
on
- L
oss/
(Ga
in)
(2.6
8)
16
.75
30
.45
(1.8
0)
EB
ITD
A (
Aft
er
Fo
rex F
luctu
ati
on
)1
12
.84
14
8.1
9
9.0
2
47
.18
EB
ITD
A M
arg
in1
0.0
4%
11
.61
%3
.20
%1
3.0
7%
Oth
er
Inco
me
7.3
1
9.4
7
6.6
2
1.3
3
De
pre
cia
tio
n &
Am
ort
isa
tio
n2
6.7
3
33
.24
7.4
8
10
.43
EB
IT
93
.42
12
4.4
2
8.1
6
38
.08
EB
IT M
arg
in8
.31
%9
.75
%2
.89
%1
0.5
5%
Va
nilla
In
tere
st
18
.81
27
.84
5.6
2
7.3
7
Fo
rex L
oss
(Eq
ua
l to
In
tere
st
Sa
vin
g)
20
.24
27
.28
8.0
9
-
PB
T5
4.3
76
9.3
0-5
.55
30
.71
PB
T M
arg
in4
.84
%5
.43
%-1
.97
%8
.51
%
Ta
x e
xp
en
se
s1
.72
2.3
7
(1.3
5)
4.9
9
Ne
t P
rofi
t (P
AT
)5
2.6
5
66
.93
(4.2
0)
25
.72
PA
T M
arg
in4
.68
%5
.25
%-1
.49
%7
.13
%
Seg
men
t C
om
paris
on
YO
Y
26
Su
bst
an
tia
l Im
pro
vem
en
t in
Ye
ar
on
Ye
ar
Fin
an
cia
lsls
20
13
-14
20
12
-13
20
13
-14
20
12
-13
20
13
-14
20
12
-13
20
13
-14
20
12
-13
20
13
-14
20
12
-13
Re
ven
ue
Net
Sal
es9
64
.84
8
26
.12
2
36
.69
2
10
.86
5
2.2
2
5
5.8
5
2
2.2
9
3
1.5
0
1
,27
6.0
4
1,1
24
.33
Op
erat
ing
Inco
me
1.4
0
1.9
3
5.7
8
4.1
9
0.7
4
0.6
9
0.0
1
0.0
1
7.9
3
6.8
2
Sub
To
taL
96
6.2
4
82
8.0
5
24
2.4
7
21
5.0
5
52
.96
56
.54
22
.30
31
.51
1,2
83
.97
1
,13
1.1
5
Tota
l Op
erat
ing
Exp
end
itu
re8
45
.07
7
56
.09
2
23
.45
1
87
.51
2
9.9
7
2
7.3
3
2
4.9
5
3
4.1
4
1
,12
3.4
4
1,0
05
.07
Segm
enta
l Fo
rex
(Lo
ss)/
Gai
n(9
.74
)
1
.10
(2
.97
)
1
.39
(0
.21
)
0
.19
(0
.46
)
-
(1
3.3
8)
2.6
8
Op
era
tin
g Ex
p E
xcl.
Fo
rex
Loss
83
5.3
3
75
7.1
9
22
0.4
8
18
8.9
0
29
.76
27
.52
24
.49
34
.14
1,1
10
.06
1
,00
7.7
5
EBIT
DA
(Ex
c FO
REX
LO
SS)
13
0.9
1
70
.86
21
.99
26
.15
23
.20
29
.02
(2.1
9)
(2.6
3)
17
3.9
1
1
23
.40
EBIT
DA
% (
EXC
FO
REX
LO
SS)
14
%9
%9
%1
2%
44
%5
1%
-10
%-8
%1
4%
11
%
EBID
TA (
INC
L FO
REX
LO
SS)
12
1.1
7
71
.96
19
.02
27
.54
22
.99
29
.21
(2.6
5)
(2.6
3)
16
0.5
3
1
26
.08
EBIT
DA
% (
INC
L FO
REX
LO
SS)
13
%9
%8
%1
3%
43
%5
2%
-12
%-8
%1
3%
11
%
DEP
REC
IATI
ON
14
.25
10
.51
0.9
48
.32
7.5
47
.62
0.5
10
.29
33
.24
2
6.7
3
SEG
MEN
T P
RO
FIT
(IN
CL.
FX
LO
SS)
10
6.9
2
61
.46
8.0
8
19
.22
15
.45
21
.59
(3.1
6)
(2.9
2)
12
7.2
9
9
9.3
5
SEG
MEN
T P
RO
FIT
%1
1%
7%
3%
9%
29
%3
8%
-14
%-9
%1
0%
9%
TOTA
LP
LYW
OO
DLA
MIN
ATE
SC
FSO
THER
S
Seg
men
t C
om
paris
on
QO
Q
27
Dra
stic
im
pro
vem
en
t in
Qu
art
er
on
Qu
art
er
Fin
an
cia
lsls
Q1
FY 1
5Q
1 FY
14
Q1
FY 1
5Q
1 FY
14
Q1
FY 1
5Q
1 FY
14
Q1
FY 1
5Q
1 FY
14
Q1
FY 1
5Q
1 FY
14
Rev
enue
Net
Sal
es27
4.86
20
3.49
62
.73
58.3
2
14
.89
14.0
0
8.
37
6.45
36
0.85
28
2.26
Ope
rati
ng In
com
e0.
31
0.38
1.
39
0.94
0.
19
0.12
-
-
1.
89
1.44
Sub
Tota
L27
5.17
20
3.87
64
.12
59.2
6
15
.08
14.1
2
8.
37
6.45
36
2.74
28
3.70
Tota
l Ope
rati
ng E
xpen
ditu
re23
5.74
19
4.69
57
.42
56.9
4
9.
20
7.16
8.
48
7.33
31
0.84
26
6.12
Segm
enta
l For
ex (L
oss)
/Gai
n1.
21
(19.
42)
0.
49
(3.7
4)
0.
02
(0.1
9)
0.
07
(0.6
4)
1.
79
(23.
99)
Ope
rati
ng E
xp E
xcl.
Fore
x Lo
ss23
6.95
17
5.27
57
.91
53.2
0
9.
22
6.97
8.
55
6.69
31
2.63
24
2.13
EBIT
DA
(Exc
FO
REX
LO
SS)
38.2
2
28
.60
6.21
6.
06
5.86
7.
15
(0.1
8)
(0
.24)
50.1
1
41
.57
EBIT
DA
% (E
XC F
ORE
X LO
SS)
14%
14%
10%
10%
39%
51%
-2%
-4%
14%
15%
EBID
TA (I
NCL
FO
REX
LO
SS)
39.4
3
9.
18
6.70
2.
32
5.88
6.
96
(0.1
1)
(0
.88)
51.9
0
17
.58
EBIT
DA
% (I
NCL
FO
REX
LOSS
)14
%5%
10%
4%39
%49
%-1
%-1
4%14
%6%
DEP
RECI
ATI
ON
4.67
3.19
3.01
2.29
2.56
1.88
0.19
0.12
10.4
3
7.
48
SEG
MEN
T PR
OFI
T (I
NCL
. FX
LOSS
)34
.76
5.99
3.
69
0.03
3.
32
5.08
(0
.30)
(1.0
0)
41
.47
10.1
0
SEG
MEN
T PR
OFI
T %
13%
3%6%
0%22
%36
%-4
%-1
6%11
%4%
TOTA
LPL
YWO
OD
LAM
INA
TES
CFS
OTH
ERS
CA
PITA
L E
VO
LU
TIO
N
28
On
ly 1
3.4
6
6 C
rorere
e
( in
clu
din
g 7
5%
fro
m P
rom
ote
rs)
cap
ita
l in
fusi
on
n
Retu
rn
to
In
vesto
rs (
Sin
ce I
PO
)
29
Ye
ar
%
12
01
3-1
41
00
%
22
01
2-1
32
5%
32
01
1-1
21
00
%
42
01
0-1
11
00
%
52
00
9-1
01
00
%
62
00
8-0
92
5%
72
00
7-0
85
0%
82
00
6-0
72
5%
92
00
5-0
62
5%
10
20
04
-05
20
%
11
20
03
-04
30
%
12
20
02
-03
30
%
13
20
01
-02
20
%
14
20
00
-01
15
%
15
19
99
-00
30
%
16
19
98
-99
30
%
17
19
97
-98
30
%
T
ota
l7
55
%
DIV
IDE
ND
HIS
TO
RY
Ro
bu
st
st 7
00
00
0%
re
turn
to
In
vest
ors
, a
pa
rt f
rom
un
un
-n
-in
terr
up
ted
div
ide
nd
nd
Dat
eD
etai
l of
Even
ts F
V (
Rs)
No
Issu
e R
s.To
tal R
s.
27.0
5.19
97Th
e IP
O a
t a
Pre
miu
m o
f R
s.10
1010
2020
0
27.0
5.20
04R
igh
t Is
sue
40%
at
(Rs.
30
Pre
miu
m)
104
4016
0
30.0
7.20
04B
on
us
1:2
rati
o10
70
0
30.0
7.20
04To
tal N
o o
f Sh
ares
1021
17.1
436
0
02.0
5.20
08Sp
lit in
Rs.
1 D
eno
min
atio
n1
210
1.71
360
22.0
7.20
13Is
sue
of
1: 1
sh
are
of
Star
Fer
ro1
210
036
0
and
Cem
ent
Ltd
on
dem
erge
r
26.0
5.20
14P
rese
nt
Mar
ket
Pri
ce (
7th
Au
gust
,14)
-Cen
tury
Ply
210
8217
220
-Sta
r Fe
rro
an
d C
emen
t Lt
d21
043
9030
Tota
l26
250
Ap
pre
ciat
ion
exc
lud
ing
Div
iden
d25
890
Ap
pre
ciat
ion
%70
92%
Ap
pre
ciat
ion
% A
nn
ual
ised
17
Year
s41
7%
For
furt
her
info
rmation,
ple
ase c
onta
ct:
Ce
ntu
ry P
lyb
oa
rds
(I)
Ltd
.
Mr.
Aru
n J
ula
sari
a,
CF
O
+9
19
83
02
92
19
2
+9
13
33
02
52
51
7
aru
n@
cen
tury
ply
.co
m
ww
w.c
en
tury
ply
.co
m
30
