*Century Plyboards (India) Ltd.* | *CMP* Rs. 764 | *M Cap* Rs. 16964 Cr | *52 W H/L* 939/614 (Nirmal Bang Retail Research) *Result is below expectations* Revenue from Operations came at Rs. 1198.3 Cr (5.1% QoQ, 13% YoY) vs expectation of Rs. 1206.6 Cr, QoQ Rs. 1140.5 Cr, YoY Rs. 1060.7 Cr EBIDTA came at Rs. 134.6 Cr (3.9% QoQ, -2% YoY) vs expectation of Rs. 146.7 Cr, QoQ Rs. 129.5 Cr, YoY Rs. 137.3 Cr EBITDA Margin came at 11.2% vs expectation of 12.2%, QoQ 11.4%, YoY 12.9% Adj. PAT came at Rs. 53.2 Cr vs expectation of Rs. 78.5 Cr, QoQ Rs. 58.5 Cr, YoY Rs. 79.5 Cr Quarter EPS is Rs. 2.4 Stock is trading at P/E of 41.5x FY26E EPS