For 3QFY2018, Century Plyboards India Ltd (CPIL) posted results in-line with our
expectations on both top-line as well as bottom-line fronts. Revenues grew by
~11% yoy and operating margins were also higher yoy. On the bottom-line front,
CPIL reported growth of ~25% yoy to `47cr on the back of strong top-line growth
and lower interest cost.

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