The company may seek collaboration for the divested freight
station business, and the slump sale of the business to a subsidiary opens the
opportunity. “We have a CFS division that we are now hiving off to a subsidiary
because it is an unrelated business. While freight station has opportunities in
the domestic market, it is not our core competence. We shall align with some
like minded people or some leading players,” Sajjan Bhajanka, chairman and
managing director, Century Plyboards (India) Limited, said at an earnings call.
In a communication to the stock exchanges, Century Ply has
said it expects to receive Rs 52 crore from the slump sale as a going concern.
The logistics business contributed around 3 per cent to the
company’s revenue from operations as of September 30, 2021.
Century Ply had clocked a turnover of Rs 2,113 crore in
2021-22 and the management expects a 19 per cent compounded annual growth rate
over the next five years.
The company is expecting double-digit growth in
the wood panel industry over the next five years across MDF (medium density
fibre-board), plywood, laminate and particle board business. Courtesy: www.telegraphindia.com
