“Century Plyboards, revenues for Q1FY12 at Rs4158mn came in above estimates of Rs3773mn, up 33.6% yoy. This revenue growth was primarily fuelled by a robust 18% volume growth in P&L (net revenues at Rs2355mn, +30.4% yoy) and a solid 29% growth volume in cement business (net revenue of Rs1376 mn, +26%). Cement realizations of Rs5335/t registered a decline -3% yoy in line with soft cement prices in Eastern India.