CenturyPly engages Boston Consulting Group for operational and cost efficiency

KOLKATA: Riding on the back of innovation and cost management, country's leading ply board and laminate maker, Century Plyboards India Ltd was targeting at high single digit sales growth in the current fiscal, a top company official said.

The company has engaged Boston Consulting Group for operational efficiency and cost management. "The topline will have some impact as the first quarter was nearly a washout due to lockdown. But, we had cost advantage on inputs and with cost saving measures which had been bearing fruits we hope better than last year profit," CenturyPly director Keshav Bhajanka told PTI.

In 2019-20, Century Ply had reported Rs 2,282 crore revenue and a profit of Rs 158 crore. The company is yet to announce its March quarter numbers.

Officials claimed that the company in order to retain leadership and garner larger market share in the Rs 25,000 crore plyboard market, introduced cutting edge technology plyboard that has self dousing properties.

"The company is also not charging any premium for the firewall technology amid some additional cost pressure but consumers will be able to protect themselves from fire hazards and deaths due to asphyxiation," CenturyPly director Nikita Bansal said.

Keshav and Nikita are siblings of the promoters who are into active management roles of the company. Bhajanka said with the new firewall technology product the company will be able to beat the industry growth coupled with recovery in demand since last quarter.

Century said it had already taken some precautionary measures to maintain supplies in the market if any adverse situation of the second COVID wave issue arises.

However, Century Ply remains unperturbed with its capex plans for medium density fibreboard (MDF) in Andhra Pradesh at an investment of Rs 450 crore and the expansion of the Hoshiarpur unit in Punjab for Rs 200 crore.

Bhajanka said the company expects about Rs 24 crore benefit to its bottom line from the ongoing cost and operational management under BCG.