Century Plyboards: ICICI Securities Retains HOLD, Sets INR 761 Target

Overview

ICICI Securities maintains a HOLD rating on Century Plyboards with a revised price target of INR 761. The company reported a strong Q2FY26 with 17.1% YoY revenue growth and 56.9% YoY EBITDA growth. Key segments like laminates and MDF showed significant margin expansion, while plywood margins saw a slight dip from a high base. Management provided optimistic guidance for FY26 revenue and operating profit margins.