External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Century Plyboards India / Equity Bottom-Up

<ul><li>We maintain our BUY rating on Century Ply, with a lower target price of INR 700/sh (20x its Mar’25E consolidated EBITDA, implies 34x P/E)</li><li>We like Century for its strong franchise (pan-India distribution, aggressive marketing, and a wide range of SKUs), leadership presence in most wood segments, market share gains and healthy return ratios</li><li>Century Ply reported weak performance in Q1FY24, owing to muted demand, rising timber prices and one-off expense in the laminates segment for the new catalogue launch</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain our BUY rating on Century Ply, with a lower target price of INR 700/sh (20x its Mar’25E consolidated EBITDA, implies 34x P/E)We like Century for its strong franchise (pan-India distribution, aggressive marketing, and a wide range of SKUs), leadership presence in most wood segments, market share gains and healthy return ratiosCentury Ply reported weak performance in Q1FY24, owing to muted demand, rising timber prices and one-off expense in the laminates segment for the new catalogue launchContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Century Plyboards India (Q1FY24): Weak Performance in a Subdued Demand Environment.