MDF division revenue growth of ~20.4% YoY was a function of volume growth of 18.4% YoY to 49,207 CBM along with realisations growth of 1.9% YoY to | 23,663/CBM. MDF EBITDA margin expanded 180 bps YoY to 27.7% backed by comparatively higher capacity utilisation and benefits arising from price hike (~10% during Q3FY21). The management has indicated towards stronger demand arising in the MDF segment due to a) higher acceptance in domestic market and b) lower imports with improved demand in respective geographies and higher shipping costs. CIPL is undertaking...