CENTURY PLYBOARDS (I) LTD

Century Plyboards (India) Limited (CPIL) is primarily engaged in manufacturing and sale of Plywood, Laminates, Decorative Veneers, Medium Density Fibre Boards, Pre-laminated Boards, Particle Board and Flush Doors and providing Container Freight Station Services. The Company presently has manufacturing facilities near Kolkata, Karnal, Guwahati, Hoshiarpur, Kandla and Chennai. Its Container Freight Station (CFS) is located near Kolkata Port. Century Plyboards (India) Limited was incorporated on January 5, 1982. In year 1997, Company was first to introduce borer proof plywood in India. In year 2002, it introduced Flexoply, the only flexible plywood variety as well as Architect Ply and Fantasy range of decorative veneer in India. In the year 2004, the Company's laminate plant started operation. In March 2005, it inaugurated Pre-Lam particleboard plant. It started manufacturing Hi-Pressure Laminates, Pre-Laminated Particle Board and MDF and with this, it completed full range of manufacturing of plywood and veneer related items. During the year 2005-06, as per the Scheme of Arrangement, Shyam Century Ferrous Ltd was amalgamated with the Company with effect from April 1, 2005. By virtue of amalgamation of SCFL with the Company, Cement Manufacturing Company Ltd became a subsidiary of the Company with effect from October 1, 2005. Megha Technical Engineers Pvt Ltd became a Subsidiary Company with effect from March 23, 2006. During the year 2006-07, the Company acquired the controlling interest in Auro Sundaram Ply & Doors Pvt. Ltd., which is operating a plywood unit at Raipur Industrial Area, Uttarakhand. In November 27, 2006, it acquired 51% shareholding in the equity of Century Star Shipping Ltd and thus Century Star Shipping Ltd became the subsidiary of the Company. During the year 2007-08, Century Panels Pvt Ltd, Sharon Veneers Pvt Ltd and Sharon Wood Industries Pvt Ltd were amalgamated with the company with the appointed date April 1, 2007. Also, Cement Manufacturing Co Ltd acquired 100% controlling interest in Star Cement Meghalaya Ltd and hence, SCML became a subsidiary of the company with effect from June 2, 2007. During the year 2008-09, the company acquired 100% controlling interest in Cent Ply Pvt. Ltd (CPPL) and thus, CPPL became a wholly-owned subsidiary of the company with effect from October 1, 2008. The company, together with their subsidiary CMCL, acquired controlling interest in Meghalaya Power Ltd (MPL) and thus MPL became a subsidiary of the company with effect from July 14, 2008. During the year 2009-10, the company's wholly owned subsidiary Cent Ply Pvt Ltd was amalgamated with the company with effect from appointed date, April 1, 2009. The company acquired controlling interest in Aegis Business Ltd (ABL) and thus ABL became a subsidiary of the company with effect from July 6, 2009. Also, ABL acquired controlling interest in Aegis Overseas Ltd (AOL) and thus AOL became an ultimate subsidiary of the company with effect from July 15, 2009. During the financial year ended 31 March 2014, Century Plyboards (India) acquired 50% stake in Century Infotech Ltd., thereby making it its Associate Company. Century Infotech Ltd. is engaged in business of e-commerce, e-shopping, online information services, online application integration including buying, selling, marketing, trading and dealing in various kinds of products and services on internet. Century Plyboards (India)'s subsidiary Centuryply Myanmar Pvt, Ltd (CMPL) has set up a veneer and plywood unit near Yangon city in Myanmar, which became operational in 2013-14. During the financial year ended 31 March 2015, Century Plyboards (India) disinvested its entire shareholding in Aegis Business Ltd (ABL). Both ABL and its subsidiary Aegis Overseas Limited ceased to be subsidiaries of Century Plyboards (India) with effect from 23rd August, 2014. Consequently, Aegis Siam Ltd, and Aegis Siam Resources Company Ltd, also ceased to be the company's associates. Ara Suppliers Pvt, Ltd, Arham Sales Pvt, Ltd, Adonis Vyaper Pvt, Ltd, and Apnapan Viniyog Pvt, Ltd, became subsidiaries of Century Plyboards (India) with effect from 28 July 2014 as a result of further investments by the company, Century Plyboards (India) incorporated a wholly-owned subsidiary company in the name of Century Ply (Singapore) Pte, Ltd, (CPSPL) in Singapore on 2nd December, 2014. Century Plyboards (India)'s Board of Directors at its meeting held on 21st January, 2015, approved a proposal for setting up a Particle Board unit at Chennai with an approximate CAPEX of Rs. 60 crore. In view of the improving market scenario and growing demand for Medium Density Fibre (MDF) boards, the Board of Directors of Century Plyboards (India) at its meeting held on 21 July 2015 approved a proposal for setting-up a greenfield unit for manufacturing Medium Density Fibre (MDF) Board, Plyboard and Block-board in Punjab with an approximate CAPEX of Rs 405 crore in the first phase. The company has already acquired and taken possession of the land at Hoshiarpur in Punjab for this purpose. During the year ended 31 March 2016, Century Plyboards (India)'s shareholding in Century Ply (Singapore) Pte. Ltd. reduced from 100% to 51% consequent upon allotment of shares by the latter to other individuals. Century Infotech Ltd. became subsidiary of Century Plyboards (India) with effect from 19 May 2015 consequent upon further investments by the company. Century Plyboards (India) acquired 51% stake on 19 January 2016 in Innovation Pacific Singapore Pte. Ltd. (IPSPL), a company incorporated in Singapore, by way of subscription to its share capital. During the year ended 31 March 2017, Century Plyboards (India) forayed into new categories by launching unique range of products in the industry branded as 'Zykron' and 'Starke'. Zykron is a Fibre cement composite board wherein cellulose fibre is reinforced with cement while Starke PVC board is made out of PVC and Calcium carbonate along with other performance enhancing additives. Both of them are promising and quality products belonging to evolving category of alternate material to pure wood based product. Both of them are aimed at reducing the usage of wood-based raw-materials without compromising on quality, strength and durability. Century Plyboards (India)'s Particle Board unit at Chennai successfully commenced commercial production in July 2016. The company incurred a capex of Rs 60 crore for the plant. Vietnam Innovation Pacific JSC was incorporated on 19 May 2016 as a subsidiary of Innovation Pacific Singapore Pte. Ltd. (IPSPL), thereby becoming a step-down subsidiary of Century Plyboards (India). However, with the disinvestment of its entire shareholding in the subsidiary IPSPL, both IPSPL and step-down subsidiary Vietnam Innovation Pacific JSC ceased to be subsidiaries of Century Plyboards (India) with effect from 24 August, 2016.During the year under ended 31 March 2018, Century Plyboards (India) implemented its plans for expansion of its laminates capacity by around 57% and almost 50% of the targeted enhancement became operational during the year. Century Plyboards (India)'s Medium Density Fibre (MDF) Board unit at Hoshiarpur in Punjab successfully commenced commercial production in October 2017. The Company incurred a capex of Rs. 335 crore for the plant which has an installed capacity of 198000 cbm per year with easy access to timber in the nearby vicinity. Century Ply (Singapore) Pte. Ltd. (CPSPL), a subsidiary of Century Plyboards (India), acquired 51% stake in Century Fluesoulin Plywood Lao Co., Ltd. (formerly Fluesoulin Wood Processing Factory Co. Ltd.), a company situated in Laos, thereby making it a subsidiary of the company with effect from 28th August, 2017. This was done as a part of the company's backward integration strategy for ensuring consistent supply of raw materials. Century Ply (Singapore) Pte. Ltd. has written-off its entire investments in its subsidiary P T Century Ply Indonesia. Consequently, P T Century Ply Indonesia ceased to be a step-down subsidiary of Century Plyboards (India) Ltd. (CPIL) with effect from 5th April, 2018. P T Century Ply Indonesia was incorporated with the object of exploring the possibilities of trading in timber, manufacturing and trading in plywood, etc. in Indonesia. The Company incorporated a wholly owned subsidiary on 10th January, 2019 by the name of Century Gabon SUARL in Gabon, Africa Auro Sundram Ply & Door Pvt. Ltd., Century MDF Ltd., Ara Suppliers Pvt. Ltd., Arham Sales Pvt. Ltd., Adonis Vyaper Pvt. Ltd., Apnapan Viniyog Pvt. Ltd., Century Infotech Ltd., Centuryply Myanmar Pvt. Ltd. and Century Ply (Singapore) Pte. Ltd. continues to remain subsidiaries of the Company while Century Ply Laos Co. Ltd. and Century Huesoulin Plywood Lao Co., Ltd. continued as step-down subsidiaries as on 31st March 2019. The Company has 10 subsidiaries and 2 step-down subsidiaries as on March 31, 2019. During the FY2020, the Company incorporated a wholly owned subsidiary on 19th February, 2020 in the name of Century Panels Limited'. Further, M/s. Auro Sundram Ply & Door Pvt. Ltd, Company's Subsidiary, acquired shareholding in another Company viz. 'Asis Plywood Ltd.'. Consequently, Asis Plywood Ltd. became a stepdown subsidiary of the Company with effect from 28th January, 2020. As on 31 March, 2020, Company had 11 subsidiaries and 3 stepdown subsidiaries. As on 31st March, 2021, Company had 11 subsidiaries and 3 step-down subsidiaries. The Company's Medium Density Fiber (MDF) Board unit at Hoshiarpur in Punjab with an installed capacity of 198000 CBM per year, attained full capacity utilisation during FY 2020-21. The newly set-up veneer manufacturing unit of the Company's wholly owned subsidiary Century Gabon SUARL at Gabon in Africa also started their commercial production on 8th February, 2021 with an operating capacity of peeling 200 CBM of timber per day. During the year 2020-21, the Company's shareholding went up marginally in its overseas subsidiary Century Ply (Singapore) Pte. Ltd. from 90.60% to 90.65% owning to further allotment of shares to it. Further, the Company approved a proposal to acquire the remaining 39.94% of the share capital of its subsidiary company Century Infotech Ltd.' from other shareholders. The Company had 12 subsidiaries and 3 step-down subsidiaries as on 31st March, 2022. During year 2021-22, Century Infra Limited was incorporated as wholly owned subsidiary of the Company effective from 30th December, 2021. The Company increased shareholding from 60.06% to 99.99% consequent upon acquisition of shares from the other shareholders. Apart from this, it also incorporated another wholly-owned subsidiary, Century Ports Ltd. at Kolkata on 20th April, 2022. Century Panels Ltd., a wholly owned subsidiary of the Company, acquired the entire shareholding in Century Adhesives & Chemicals Ltd., thereby making it a stepdown subsidiary of the Company with effect from 1st October, 2022. The Company disposed/ transferred its entire stake in Centuryply Myanmar Pvt. Ltd. (CPML) w.e.f 1st March, 2023. Consequently, CPML was made subsidiary of the Company till 28th February, 2023. In FY 2022-23, the Company introduced innovative products, increased brand spending; intensified the use of the Sales Force Automation app; launched Distribution Management System; deepened data science capability and launched a Central Distribution Centre. The Company acquired the entire shareholding in Pacific Plywoods Pvt. Ltd., thereby making it a wholly-owned subsidiary of the Company with effect from 8th August, 2023. The Scheme of Arrangement between the Company and Century Infra Limited and their respective shareholders and creditors was implemented in FY 2023-24, whereby, the Container Freight Station Services Undertaking of the Company was transferred to Century Infra Limited, wholly-owned subsidiary of the Company, as a going concern, via slump sale from 1st April, 2022, and the Scheme became effective on March 18, 2024. In terms of the Scheme, Century Infra Limited issued and allot 32,71,00,000 fully paid-up Equity Shares of Re 1/-each to the Company.