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After years of focusing on expanding production, scaling manufacturing units, and strengthening topline growth, Century Ply, a leading manufacturer, seller, and exporter of plywood, laminates, doors, PVCs, and veneers—is now setting its sights on brand building.
Sanjay Agarwal, MD, Century Ply, acknowledges that while the company has achieved operational success, its branding hasn’t reached the level he envisions. His next big project isn’t just about numbers—it’s about transforming plywood into a brand consumers connect with. Inspired by how Fevicol and Parachute cemented themselves in consumer memory through iconic campaigns, Agarwal is on a mission to glamourise plywood and position Century Ply as more than just a product, but a brand with strong recall value.
In an exclusive conversation with exchange4media, Sanjay Agarwal shares his vision for Century Ply’s brand evolution, the next big marketing idea, and what lies ahead for the company and beyond.
Edited excerpts
Plywood is an essential yet invisible product. How do you plan to address this challenge and change consumer perception while building brand loyalty for Century Ply?
We come from a background where we had no idea what a brand is or what a consumer is, you see. Of course, over time, everyone learns. But here, we are dealing with a product that is largely uninteresting—one where the consumer does not get actively involved.
Take Fevicol, for example. No one gets involved with the product itself, and it’s even less interesting than plywood. In fact, plywood still has a bit more appeal. And if you look around, there are many such products. I always marvel at Parachute coconut oil—who really cares about coconut oil? Who even applies it regularly? But they’ve managed to glamourize it.
So, if they can do it, why not plywood?
And I’ll be honest—I see it as a failure on our part that we haven’t glamourized plywood the way other brands have done for their products. We haven’t built the kind of brand loyalty we should have. But I’m absolutely clear that this will change. We’re working hard, and we’ll get there. Now if you talk about our last campaign—yes, we are still a company that believes in offering the best product, the best quality. That’s why this campaign emphasizes all the features we bring to plywood, making it the best available in the country.
I know consumers might not find this interesting yet. They might say, "Everyone claims to offer the best." So, we are trying to go beyond just that.
We’ve experimented before—Raho Befikr was an attempt to tap into emotions, though we didn’t execute it well. Before that, Sab Sahi, Mast Rate—that ad was highly successful and really stood out. But we haven’t been able to recreate that impact yet.
However, we are very clear on our potential. Out of every 100 plywood pieces sold, we are selling only 9 or 10 right now. But getting to 20 or even 25 is not difficult. And it will be the brand that takes us there.
So far, our focus has been on product benefits—educating the consumer about quality, durability, and value. But soon, you’ll see a shift in the messages, in our tonality and in every communication that goes out from Century Ply.
You’ve successfully used big ideas—from celebrity-driven dealer engagements to large-scale cultural campaigns like Durga Puja—to create lasting brand recall. As you look ahead, what kind of innovative engagement strategies do you think will work in today’s landscape?
Over the years we have had a lot of celebrity-driven campaigns. About 12-15 years ago, we collaborated with Shah Rukh Khan and Amitabh Bachchan, launching a scheme that delivered unbelievable results. We challenged our dealers to grow their sales by 25-30% in six months, and those who met the target got the chance to meet Amitabh Bachchan in person. At the time, our growth wasn’t as strong, so this was a high-stakes goal. But the excitement was real—not only did they meet him, but 100 of our dealers even appeared in a movie alongside him. Imagine—waiting for 4-5 hours in 42-degree heat, just for that moment. The response was overwhelming.
So, are we planning to recreate such ideas? Of course, but we need a fresh approach—we can’t simply repeat the same playbook.
Let me digress a little—this happened in cement marketing as well. We had an idea for Durga Puja, and when the Star Cement team pitched it to me, I approved it within minutes. My response was simple: "Go ahead, whatever it costs, let’s do it." And the budget? Rs 10 crores. But instead of adding an extra cost, we reallocated Rs 10 crores from the advertising budget—not a single additional rupee was spent that year. And the impact was massive. Even today, when people talk about Star Cement, they instantly associate it with the Durga Puja campaign with the tallest idol the city has ever seen.
That’s the power of an idea—one great idea can change everything. Right now, we are waiting for the next big one. Our branding and advertising teams are working on it, and the moment we have it, we will execute it brilliantly.
So, what part of your revenue goes towards marketing? And are you planning to increase it in 2025?
We understood the importance of branding early on—that’s how Century Ply became Century Ply. When we started in 1996, we were focused on selling, marketing, and advertising, but soon realized that there was a major consumer issue—termites—and no one was offering a solution. We worked hard, even bringing in experts from America, and found a solution. But despite having the best product, people still weren’t buying, and that’s when we truly understood the power of branding. A great product alone isn’t enough—people need to know about it and believe in it.
From that moment, we made a commitment—4-5% of our total revenue would always go into branding and advertising, no matter what. This was around 1997-98, and for 3-4 years straight, we were losing money in this division, with no profits at all. Yet, we never cut our brand budget. Our approach was simple—in a bad year, we’d reduce it slightly and in a good year, we’d increase it, but branding was non-negotiable. Even today, we follow this principle.
We allocated 3.8 % of total revenue as marketing budget in FY-24-25. The same percentage will be maintained next year. Specifically for categories, for panels it was 3.7%, for Deco it was 5.7%Deco includes Domestic LAM (both Century and Sainik) + Exteria & Cubicles + Natural + Recon.
For a business in plywood, which media mix works best today?
A few years ago, I would have said TV is everything—it was the dominant medium. But today, things have changed completely. Personally, I don’t even have a Tata Sky connection at home. I watch everything on a smart TV, and I realized this shift when I noticed that Nikita and Kishore, too, had completely moved away from traditional TV.
Look at IPL viewership—the numbers clearly show how many people now prefer watching online over television. The shift to digital is undeniable. Measurability is higher, and you get precise insights into who is watching and what kind of audience is engaging. On television, however, it’s still just a broad estimate—data is limited, sample sizes are minuscule, and yet we rely on them.
I strongly believe that over time, everything will turn digital. While I may not fully understand the technology, it’s clear that traditional cable TV, antennas, and satellite transport will eventually phase out. It may take time, but the future is entirely digital.
Since you already work with Lodestar and VML, and you're in search of your next big idea, are you also considering bringing a new agency on board?
We know about branding to an extent, but perhaps we only grasp the ‘B’ of brand—there’s still a deeper, more creative aspect we need to explore. It's like understanding the left brain but struggling with the right brain of branding. So, we are actively looking for the best brand minds to bring on board.
Within the next month or so, we’ll make a decision, and in the next 2-3 months, we’ll have a much clearer picture of what exactly needs to be done. But I strongly believe that change for the sake of change is meaningless. If I switch from Lodestar or VML it should have a purpose, not just for the sake of switching.
Over the years, I’ve worked with almost every agency across both our cement and plywood businesses and I’ve seen that they all deliver to the level they understand the client. Their output is often a reflection of our own ability to excite them about the brand.
So, my takeaway is that VML is highly capable. If there’s a gap, it’s probably on our side—maybe we haven’t been able to excite them enough or extract the best from them. The real challenge lies with us, not them.
In Q2 FY25, you achieved one of your highest-ever quarterly revenues, marking a significant milestone. What were the key drivers behind this growth?
This growth was driven by two key factors. First, the expansion of our production capacities, with MDF and laminate manufacturing coming online, significantly improving availability and fueling market demand. Additionally, our plywood division has shown strong performance this year, further accelerating overall growth.
I’ve observed that whenever a company adds new capacity, it injects fresh energy and momentum into the business. There’s a strong motivation to succeed because otherwise, interest and depreciation costs can become a burden. This drive pushes everyone in the company to perform better.
If you visit our new plant, you'll see the scale. It is spread over 100 acres, the largest in the industry. And I can confidently say that it will remain the largest plywood plant for the next 20 years—no one else will be able to replicate this scale in the industry.
What are the key focus areas for you in 2025?
We need to rejuvenate the brand by understanding the psychological aspects of branding and leveraging them to shape perception and marketing. Without this, the company won’t progress. There was a time when we focused heavily on branding, but along the way, we got caught up in the nitty-gritty of sales, new factories, and product expansions—with MDF, laminates for exports, and other new categories taking priority. While these were necessary, our core realization now is that brand is the only thing that will drive long-term growth.
Right now, we are focusing on two key areas—branding and talent acquisition. A company needs the best talent to thrive, but attracting and retaining skilled professionals is not easy in today’s competitive market. So, I am working to ensure that this mindset permeates every level of the organization. Whether it’s a marketing head or a team leader, they need to either train, upskill, or bring in new talent to build a stronger team. Without the right people and a strong brand, we cannot achieve the growth we envision. These two priorities are absolutely clear in our strategy.
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