Monday, Jun 24 2019 | Time 18:59 Hrs(IST)
  • Ruling BJD MLA Saroj Meher sent to judicial custody for forcing an Engineer to do sit ups in public
  • Give us an India where Hindus, Muslims, Sikhs & Christians live for each other: Azad
  • Kejriwal is working in view of upcoming Assy elections:Manoj Tiwari
  • Polling for Junagadh Municipal Corporation to be held on Jul 1
  • Action taken against 271 companies in last three yrs to safeguard investors: Finance Min
  • AICC dissolves all UP district committees, two member team to oversee preparation for bypolls
  • Forty two votes required to host 2026 Winter Olympic and Paralympic Games
  • US, S Arabia talk maritime security in the Gulf
  • NITI Aayog to release 2nd edition of Healthy States, Progressive India report
  • Bhatpara gradually limping back to normal
  • Judicious use of water can save India from future calamities: Jal Shakti Minister
  • FC meets K'taka economists; discusses infra gaps, democratic deficit
  • Their ego will finish them, says BJP after Adhir Ranjan uses derogatory words for PM
  • Outrightly reject Karnataka's Mekedatu project proposal: TN CM urges Modi
  • Zimbabwe government bans use of foreign currency as legal tender

CenturyPly plans sustainable growth with National Investment, Innovative Products and Industry Expertise

Kolkata, Sep 17 (UNI) CenturyPly, the largest seller of multi-use plywood today conducted its 37th Annual General Meeting, were the investors took some of the major developments.
Over the years, the company has strengthened its environment through prudent investments. The company has invested in 6 megawatts of renewable energy to moderate its carbon footprint. The company is commissioning rooftop solar panels across six manufacturing locations including Chennai, Guwahati, Karnal, Kandla, Joka and Hoshiarpur.
These solar panels are expected to address more than 15 pc of the company’s power requirements and reduce carbon footprint by 5900 tonnes per annum, strengthening its credentials as an environmentally responsible company. The already commissioned rooftop solar panel at Chennai units is expected to generate 14 Lakh units of power in FY19.
The company reported a 10 pc rise in net revenues with a stable EBIDTA and growth margin. The gross revenue from operations for FY 2018 at C2002.04 crore was higher by 4 pc over the last year (C1920.33 crore in FY 2017).
At Standalone level, the Gross Income stood at C2008.72 crore as compared to C1943.01 crore in the previous year. Profit before tax and Profit after tax, both witnessed a drop of 15pc and 16pc respectively, compared to the previous year.
On a consolidated basis, the gross revenue from operations for FY 2018 at C2060 crore, was higher by 5 pc over the last year (C1961.86 crore in FY 2017). Profit before tax and Profit after tax were lower by 13 pc and 14 pc respectively, compared to the previous year.
The company embarked on capacity expansion initiatives that promise to increase its revenue-earning potential.
Commenting on the company’s performance, Mr Sajjan Bhajanka, Chairman, Century Plyboards(India) Ltd, said, “ Last year has been very exciting year for us. In the last year we have commissioned our MDF capacity which is perhaps the single largest investment that has ever been undertaken under the Century banner. Not only that but we are being able to exhaust over 60 pc of the capacity within the first year of operations which is something that we ourselves, had not even thought of. So we are very happy with progress.''
The company launched 198000 CBM of capacity in a segment marked by existing national capacity of 1 million CBM. The Company expects to generate H350 crore in annual revenues in FY19 from this plant. Besides, the Company plans to manufacture value-added products (laminated MDFs, flooring and doors, among others, from this facility).
''We have also taken up a number of new initiatives to reduce costs, such as the solar initiative. Thereby we have set up a 1 MW power plant in Chennai and going forward due to the success of the same we are looking at setting up 4 MW additional across our various other plants leading to total EBIDTA of 5 cr+ out of solar coming out within this year itself. We have shown decent growth for the company as a whole and that trend is likely to continue. I think with GST now coming into play in full effect, the next year onwards, the next few quarters look quite good for us,”he added.
More News

Dera follower cremated, tension eases in Malwa region

24 Jun 2019 | 6:55 PM

Kotkapura,Faridkot, Jun 24 (UNI) The body of Dera Sacha Sauda follower Mohinder Pal Bittu, who was killed in Nabha Jail on Saturday, was cremated here on Monday evening after a meeting between the district administration, family of the deceased and members of the state committee of the Dera followers.

see more..

Apollo Hospitals Group signs MoU with IMA woman doctors wing to promote organ donation

24 Jun 2019 | 6:55 PM

Hyderabad, Jun 24 (UNI) To make people aware about the importance and benefits of organ donation, Apollo Hospitals on Monday announced the signing of a Memorandum of Understanding (MoU) with the Woman Doctors Wing of Indian Medical Association (IMA) to promote Organ Donation across the country.

see more..

Polling for Junagadh Municipal Corporation to be held on Jul 1

24 Jun 2019 | 6:50 PM

Gandhinagar, Jun 24 (UNI) Gujarat State Election Commission on Monday announced the poll schedule for Junagadh Municipal Corporation scheduled to be held on July 21.

see more..

AICC dissolves all UP district committees, two member team to oversee preparation for bypolls

24 Jun 2019 | 6:45 PM

Lucknow/New Delhi, June 24 (UNI) Cracking the whip after the poor show by the party in Uttar Pradesh in the Lok Sabha polls, the Congress on Monday dissolved all district committees of the party in the state.

see more..

Farmers take out rally demanding clarity in farm loan waiver scheme

24 Jun 2019 | 6:40 PM

Mysuru, June 24(UNI) Demanding clarity on loan waiver and other issues by the Karnataka Government, hundreds of farmers under the banner of Karnataka Rajya Raitha Sangha (KRRS) took out a massive rally in the city on Monday.

see more..