- All
- Important
- Financial Update
- Fund Raise
- Board Meeting
- Dividend/Bonus
- JV/Acquisition
- Investor Meet
- Insider Trade
- Pledging
- Others
Loading...
1. Financial Highlights:
Ddev Plastiks reported FY25 revenue of ₹2,603 Cr, up 7% YoY, with EBITDA of ₹287 Cr (11% margin) and PAT at ₹185 Cr (7% margin). Gross margin remained steady at 18%. Volume growth hit a record 14% YoY at 190K MT. Return ratios are robust with ROCE at 32% and ROE at 22%. Net debt is zero, supporting balance sheet strength. Capacity utilization rose to 81% from 70%, improving operational efficiency. EBITDA per ton increased due to better realizations and a focus on higher-margin products.
2. Strategic Initiatives & Growth Drivers:
A ₹110 Cr capex is planned for FY26 to expand XLPE (up to 132KV, targeting 220KV later) and HFFR capacities (aiming for 20,000 MTPA by FY27). R&D focuses on Water Tree Retardant XLPE compounds for cable insulation, developed in-house. Growth is driven by rising demand in wires and cables (~40% revenue), aligned with electrification in EVs, solar, and data centers. The company targets ₹5,000 Cr revenue by FY30 with sustained double-digit EBITDA margins.
3. Business Developments:
Listing on NSE enhances visibility. NTPC approved the 3.3KV insulation product. Credit ratings upgraded to CRISIL A+/Stable and A1+. Manufacturing capacity totals 2,33,400 MTPA across five plants optimally located for freight efficiency. Collaborations with IIT Kharagpur and UICT Mumbai bolster R&D and product innovation.
4. Market Position & Competitive Advantage:
Ddev Plastiks leads India’s polymer compound market with ~33% share in XLPE and ~50% in Sioplas compounds. Its portfolio spans five high-growth categories with 200+ SKUs, specializing in high-voltage cable compounds. Strengths include advanced manufacturing, strategic plant locations, strong customization, and committed R&D, solidifying its status as a preferred supplier domestically and internationally.
5. Investor Implications:
Strong volume growth, stable margins, zero net debt, and focused capex in niche, high-value segments signal positive growth potential. Alignment with infrastructure and electrification trends supports scalability and resilience. Key execution risks are timely capacity ramp-up and margin management amid raw material price movements. Overall, well-positioned for sustainable value creation in polymer compounding.