Century Plyboards was not affected by Myanmar’s timber export ban because it had set up a semi-processed peeling facility in Myanmar last year, reports Live Mint on April 5.
Stock in the Indian company Century Plyboards Ltd has jumped eightfold in the last one year as the company has been insulated from the soaring timber prices after Myanmar imposed an exports ban on timber last August to save its disappearing forests.
Century Plyboards was not affected by the ban because it had set up a semi-processed peeling facility in Myanmar last year. So, while rivals such as Greenply Industries Ltd were hit by skyrocketing timber prices, Century Plyboards could easily export timber from its Myanmar facility.
The management claims it is confident of achieving a 25 percent revenue growth for the next two years and beating the industry growth rate of 7-8 percent, said India Infoline Institutional Equities in a research note dated February 27.