Kolkata, Aug 3 (PTI) Century Plyboards (India) Ltd, riding on a major consumer campaign around what it claimed is India’s first comprehensive plywood warranty covering the entire furniture cost, is targeting a topline of Rs 12,000 crore by 2030-31 from Rs 5,400 crore in 2025-26, a top company official said.
The company on Monday launched ‘Total Cover’, a warranty programme that reimburses not only the cost of plywood but also laminates, veneers, adhesives, labour and transportation arising from a covered defect.
Executive Director Keshav Bhajanka said the initiative, backed by a nationwide campaign featuring brand ambassador Aamir Khan, is not expected to have any material financial impact on the company.
“We are growing strongly as our topline has tripled since COVID-19. We will continue to grow at a 20 per cent CAGR and aim to reach a topline of Rs 12,000 crore by 2030-31 as our consumer-centric focus remains a top priority,” Bhajanka said.
Bhajanka said CenturyPly remains optimistic about its particle board business despite reporting losses in the segment over the past few quarters, describing the weakness as temporary.
“The Rs 600-crore investment in particle board will drive higher production and sales. The business will return to profitability as demand remains strong and we are stabilising operations with the new investment in this segment,” he said.
Executive Director Nikita Bansal said it took the company nearly two years to develop the offering of a 10-year warranty covering not only its two premium plywood variants but also the entire furniture cost.
She said the company’s new Hoshiarpur manufacturing facility is on track to become operational by September. Land is being acquired for a new plant in Uttar Pradesh, while another project is being planned in Odisha, where the company is scouting for land.
On the new warranty programme, Bhajanka said the company does not foresee any significant financial impact from extending warranty coverage to the entire furniture cost, calling it the first such consumer-centric initiative globally.
Bansal said the company decided to introduce the programme after studying customer complaints over the past two-and-a-half years. PTI BSM NN
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.