Building Materials – Oct-Dec’25 Earnings Preview – Demand Softness Persists; Margins Offer Cushion
Published on 07 Jan 2026
Building Material companies under our coverage universe are expected to report single digit revenue growth due to weak demand and extended monsoon, however margins are expected to expand due to cost reduction measures and because of cooling of timber cost. We anticipate moderate volume growth of 10.0% YoY in plastic pipe sector. Tiles and bathware sectors are likely to experience single digit growth expecting demand to pick up in coming years. Wood panel segment CPBI is expecting good revenue growth mainly driven from plywood segment (contributes 55% to the topline). We expect coverage companies to register sales/EBIDTA/PAT growth of 8.3%/19.5%/19.5% YoY. We expect Astral (ASTRA) and Century plyboards (CPBI) to outperform in the BM space.
