Stocks To Watch – Archidply

Archidply ( BSE Code : 532994) :-

Co. is India’s leading producer of branded plywood, per laminated particle & MDF boards, decorative laminates & decorative veneers. Infact it is the only company which confidently gives a 7 year Warranty to its customers stating that its products are completely protected against fungus, termites & borer. Its ‘pureply’ is the only plywood in India which combines fire retardant, fifteen ply constructions, low formaldehyde emission and marine grade features in one plywood. Notably, company caters to the wide spectrum in the building and construction industry like OEM’s making modular furniture apart from having diversified customer base including government departments, institutions like banks, hospital, multiplexes, hospitals, builders etc, private corporate houses & retail customers. To service them, it has an extensive network of 61 distributors and stockists in more than 25 states covering 143 towns and cities, across India. To increase its market share, company has recently set up a third Greenfield plant at Chintamani in Karnataka for production of pre laminated particle board & decorative plywood. For FY10 company’s sales remain flat at Rs 151 cr whereas PAT declined by 40% to Rs 8 cr posting an EPS of Rs 4 on equity of Rs 22 cr. The company’s performance was affected in FY10 as there were labour issues during Q4FY10 due to which operations at the Mysore factory was suspended. Buy at current levels and add more at sharp declines.

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