Fibreboard import levies to boost Century, Greenpanel
Around 76 per cent of revenues in the first nine months of FY21 came from MDF. Greenpanel’s brownfield expansion over FY22 would take its capacity to 650,000 cubic metres.
Synopsis
Rushil Decore got around 45 per cent of its revenue in the first nine months of FY21 from MDF. The company will commercialise its 240,000 cubic metre plant soon, said DAM Capital. Rushil Decor reported a 65 per cent fall in net profit at Rs 8.53 crore for the nine months ended December. The stock is down 17.9 per cent for the last month but up 29.73 per cent so far this year
Century Plyboards (India), Greenpanel Industries and Rushil Decor are likely to get a booster with the Directorate General of Trade Remedies recommending the imposition of countervailing duty or CVD on all fibreboard imports from Indonesia, Malaysia, Sri Lanka, Thailand and Vietnam, said analysts. Once the finance ministry approves it, these duties would be valid for five years. “The recommended CVD structure (if ratified) is likely to negate
