High on realty growth, Century Ply plans over Rs 1,000-cr investment | The Financial Express

High on realty growth, Century Ply plans over Rs 1,000-cr investment

“The building material market is expected to grow in the coming 5-6 years and plywood, mostly used for interior decoration, has become an essential building material,” Sajjan Bhajanka, chairman, Century Ply Boards (India), said.

High on realty growth, Century Ply plans over Rs 1,000-cr investment
CPIL today manufactures the entire range of commercial, marine, shuttering and decorative plywood.

Riding the wave of real estate upcycle, Century Ply, the largest seller of multi-use plywood and decorative veneers in the Indian organised plywood market, plans an investment of over Rs 1,000 crore.

“The building material market is expected to grow in the coming 5-6 years and plywood, mostly used for interior decoration, has become an essential building material,” Sajjan Bhajanka, chairman, Century Ply Boards (India), said.

CPIL has its manufacturing units in Kolkata, Chennai, Guwahati, Karnal, Kandla, Myanmar and Laos. The company has a pan-India online presence with product availability on Flipkart and Amazon. CPIL today manufactures the entire range of commercial, marine, shuttering and decorative plywood.

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Bhajanka said the company has maintained its market share despite deceleration in the downstream sectors and convergence of a number of macroeconomic disruptions. The company has successfully managed to maintain the sales momentum of laminates by adopting new strategies. The company reported a 102% capacity utilisation during FY22.

In FY22, the company had set up an integrated wood panel manufacturing factory in Gopavaram, Kadapa district of Andhra Pradesh at an initial investment of Rs 800 crore, including MDF for Rs 600 crore and laminates for Rs 200 crore in phase 1. Besides, the company has started to more than triple its MDF capacity from 600 cubic metre to 1,900 cubic metre per day through brownfield and greenfield projects entailing an investment of Rs 820 crore. The company has also flagged off its EV delivery van to champion the cause of sustainability.It is the first company among its industry peers to do so.

Bhajanka said the company has maintained its market share despite deceleration in the downstream sectors and convergence of a number of macroeconomic disruptions. The company has successfully managed to maintain the sales momentum of laminates by adopting new strategies. The company reported a 102% capacity utilisation during FY22.

As the pioneers in borer proof plywood and boiling water resistant (BWR) decorative veneers and laminates in India, the company has successfully created a niche in the highly competitive lifestyle segment. Post the outbreak of Covid, CenturyPly has introduced Virokill technology in its product line, killing 99.99% virus, which is tested and certified under the antiviral efficacy test as per the ISO international standard.

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