CenturyPly to invest ₹2,500 cr, targets ₹12,000 cr revenue by 2031

Century Plyboards (India) Ltd. will pour ₹2,500 crore to ₹2,700 crore into capacity expansion over the next five years, aiming to double revenue to ₹12,000 crore by 2031, executive director Keshav Bhajanka said at a briefing Monday.

Bhajanka said the money will go into the company's nine existing plants and two new units – one in Uttar Pradesh and one in Odisha. A facility under construction in Hoshiarpur is on track to start production in October. Land for the Uttar Pradesh plant has been identified; the company is still scouting for a site in Odisha.

Demand for plywood and related products is tracking the housing industry's expansion, executive director Nikita Bansal said. The plywood business alone grew 30% in the last quarter. Revenue has tripled to roughly ₹6,000 crore since the pandemic, driven by a shift toward higher-quality materials and the company's four-decade track record, she added.

Bansal spoke at the same briefing where CenturyPly announced a new warranty program for its premium plywood range. The "Total Cover" offer reimburses the full cost of a customer's furniture if the plywood fails within ten years. That includes plywood, laminates or veneers, adhesives, labour, and transportation, valued at the time of the claim rather than at purchase.

The company framed the warranty as a break from industry norms. “Warranties in this category have historically meant one thing: replacing the plywood,” the company said. “Total Cover moves the basis of competition from product claims to financial commitment – a ten-year undertaking on the customer's full furniture cost that cannot be made casually and cannot be easily replicated.”