Duroply Industries Ltd — Updates, 19-05-2025: Company Update

Duroply Industries Limited has announced a board meeting to review the financial results for the quarter and half-year. The company reported its highest-ever quarterly revenue crossing ₹106 Cr, growing 25.9% YoY, driven by strong in-house manufactured goods and contract manufacturing segments. EBITDA margin improved to 5.4%, reflecting better raw material costs and product mix. For FY25, revenue stood at ₹371.8 Cr with 15% YoY growth, and profit before tax (adjusted) rose to ₹5.81 Cr. The premium Duro brand accounted for 75% of revenues, while the mid-segment Tower brand showed fastest growth. Expansion in sales teams and focused marketing spending (around 3.8% of sales) are key growth drivers. The company expects margin expansion and stronger growth in the coming years, targeting high single-digit EBITDA margins within two years. Inventory days have increased due to regulatory stock buildup but are expected to normalize. Raw material costs are expected to ease in the latter half of the financial year. Duroply remains predominantly B2B-focused, serving homebuyers through dealer channels, with limited direct retail or institutional sales. Maintenance CapEx is ongoing with no major expansion plans, and plant utilization stands around 72-73%. The company emphasizes brand equity and channel partnerships as key barriers to entry in this competitive industry.