Dhabriya Polywood Ltd — Updates, 23-05-2025: Company Update

P el DHABRIYA POLYWOOD LIMITED

§ DHABRIYA Regd. office : 8-9D(1), Malviya Indusiral Area, JAIPUR-302 017 (Rai.) INDIA

GROUP Phone | +91-141-4057171, 4040101-105 | Fax : +91-141-2750814

E-mail . info@polywood.org | Website : www.polywood.org CIN : L29305RJ1992PLC007003

Ref: BSE/2025-26/13 Date: 23.05.2025

To,

The General Manager

Department of Corporate Service

BSE Limited,

P.J. Towers, Dalal Street,

Fort, Mumbai - 400 001

Scrip Code: 538715

Sub: -: Earnings Presentation on the financial results of Q4 for FY 2024-25

Dear Sir/Ma'am,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

please find enclosed a copy of the Earnings Presentation of the financial results of the Company for the

quarter/year ended March 31, 2025, that will be circulated to the Investors/ Analysts for the Earnings Call

scheduled on May 26, 2025.

You are requested to kindly take the information on record and acknowledge.

Thanking You,

Yours faithfully,

FOR DHABRIYA POLYWOOD LIMITED

Sparsh Jain

Company Secretary

M. No. A36383

POLYW’C’)Oi :D®

WINDOWS & DOORS SINCE 1992

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Provide A Better World To Live By Saving Trees

Investor Presentation – Q4 FY25

Dhabriya Polywood Limited

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DISCLAIMER

2

TheinformationinthispresentationhasbeenpreparedforuseinpresentationsbyDhabriyaPolywoodLimitedforinformationpurposesonlyanddoesnotconstitute,or

shouldberegardedas,orformpartofanyoffer,invitation,inducementoradvertisementtosellorissue,oranysolicitationorinitiationofanyoffertopurchaseor

subscribefor,anysecuritiesoftheCompanyinanyjurisdiction,norshallit,orthefactofitsdistributionformthebasisof,orbereliedoninconnectionwith,any

investmentdecisionoranycontractorcommitmenttopurchaseorsubscribeforanysecuritiesoftheCompanyinanyjurisdiction.

Norepresentationorwarranty,express orimplied,ismadeasto,andnorelianceshouldbeplacedon,thefairness,accuracy,completenessorcorrectnessofthe

informationoropinionscontainedinthispresentation.NeithertheCompanynoranyofitsaffiliates,advisorsorrepresentativesshallhaveanyresponsibilityorliability

whatsoever(fornegligenceorotherwise)foranylosshowsoeverarisingfromanyuseofthispresentationoritscontentsorotherwisearisinginconnectionwiththis

presentation.Theinformationsetouthereinmaybesubjecttoupdating,completion,revision,verificationandamendmentandsuchinformationmaychangematerially.

Thispresentationisbasedontheeconomic,regulatory,marketandotherconditionsasineffectonthedatehereof.Itshouldbeunderstoodthatsubsequent

developmentsmayaffecttheinformationcontainedinthispresentation,whichneithertheCompanynoritsaffiliates,advisorsorrepresentativesareunderanobligation

toupdate,reviseoraffirm.

Thispresentationcontainsforward-lookingstatementsbasedonthecurrentlyheldbeliefsandassumptionsofthemanagementoftheCompany,whichareexpressedin

goodfaithand,intheiropinion,reasonable.Forward-lookingstatementsinvolveknownandunknownrisks,uncertaintiesandotherfactors,whichmaycausetheactual

results,financialcondition,performance,orachievementsoftheCompanyorindustryresults,todiffermateriallyfromtheresults,financialcondition,performanceor

achievementsexpressedorimpliedbysuchforward-lookingstatements.Unlessotherwiseindicated,theinformationcontainedhereinispreliminaryandindicativeand

isbasedonmanagementinformation,currentplansandestimates.Industryandmarket-relatedinformationisobtainedorderivedfromindustrypublicationsandother

sourcesandhasnotbeenindependentlyverifiedbyus.Giventheserisks,uncertaintiesandotherfactors,recipientsofthisdocumentarecautionednottoplaceundue

relianceontheseforward-lookingstatements.TheCompanydisclaimsanyobligationtoupdatetheseforward-lookingstatementstoreflectfutureeventsor

developments.

Investor Presentation – Q4FY25

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Company Overview

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Company Overview & Business Highlights

4Investor Presentation – Q4FY25

5

Manufacturing Units

800+

Channel Partners

24,000

Metric Ton

PVC Profiles & Sheets

3

Million Sq. Ft

uPVC Doors & Windows

32+

Years of Excellences

50

Lac +

Delighted Customers

700+

Employees

4

Brands

140

Crs+

Order Book*

9

Distribution Units

Dhabriya Polywood

Limited, reputed name in

manufacturing of

products for a wide range

of Building Interior &

Exterior applications.

Continuous focus on

Innovation & Technology.

Actively support ”Save

Trees” concern by

providing high quality

wood substitute and

environment friendly

products.

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About The Company

Investor Presentation – Q4FY255

➢Company incorporated in 1992 under the brand name ’Polywood’.

➢Strong reputation in building interior & exterior applications.

➢3 subsidiaries:

1.Dynasty Modular Furnitures Pvt Ltd (Jaipur) for modular furniture

manufacturing.

2.Polywood profiles pvt ltd (Coimbatore) for PVC profile extrusion & catering

clients in south India.

3.Polywood green building systems pvt ltd for sales of extruded pvc profiles &

executing works contracts.

➢4 established brands

1.Polywood

2.D-stona

3.Dynasty

4.Studio Arezzo

➢Head office in Jaipur with manufacturing facilities in Jaipur (3), Coimbatore

(1), Bangalore (1) and multiple sales depot.

➢Intellectual property: 7 registered trademarks in various product categories

and 15 design patents.

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Key Milestones

Investor Presentation – Q4FY256

Incorporation Of

the Company

19921995

First Manufacturing

Unit was established

at Jaipur for

manufacturing of

Extruded PVC

Profiles

2005

Manufacturing

Unit for

Extruded PVC

Profiles set-up &

commenced in

Coimbatore (TN)

(Polywood

Profiles P Ltd)

2008

Award for Excellent

Manufacturing facility by

Plastic Manufacturers

Association Jaipur.

Award for Excellent

Manufacturing facility by

Plastic Manufacturers

Association Jaipur.

2009

Meritorious

Industrial

Development award

by the Indian

Economic

Development &

Research

Association, New

Delhi

National Award- 2008

for Outstanding Quality

Products by GOI,

Ministry of Micro Small

and Medium Enterprises

National Award - 2008

for Outstanding

Entrepreneurship by

GOI, Ministry of Micro

Small and Medium

Enterprises

2009

Manufacturing Unit

of Modular

Furniture Products

established &

commenced in

Jaipur (Dynasty

Modular Furnitures

Pvt Ltd)

2003

New Plant for

manufacturing

(fabrication) of uPVC

window & doors

established in Jaipur

20132014

Listed at BSE

"SME

Platform

2023

Developed & launched

PVC Fluted Panels.

Shifted our Coimbatore

uPVC Window

Fabrication Plant

(which was in rented

premises) to our new

factory at Bangalore

2017

Migration from

BSE SME Platform

to BSE Main

Board

2022

New Plant for

manufacturing

(fabrication) of uPVC

window & doors

established in

Bangalore

2024

Commenced

Digital Printing &

Lamination Unit

at Kolkata for PVC

Profile Printing &

Lamination

Process

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Management

Investor Presentation – Q4FY257

Mr. Digvijay Dhabriya is the Chairman & Managing Director of

the company. He holds a Mechanical Engineering degree from

MBM Engineering College, Jodhpur, and a PG diploma in Plastic

Engineering from CIPET, Chennai. With over 25 years of

experience in plastic product manufacturing and business

leadership, he oversees all key decisions and expansion strategies.

A dedicated leader, he is also known for his social contributions.

Mrs. Anita Dhabriya is a Whole Time Director with a Commerce

degree from Ajmer University. She is actively involved in the

administrative and operational areas of the business and has over

20 years of experience in the manufacturing sector, focusing on

business development.

Mr. Mahendra Karnawat is a Whole Time Director with a

Master’s in Commerce from MDS University, Ajmer. He brings

over 25 years of experience in sales, marketing, production, and

logistics. He leads procurement and product strategy, and also

heads marketing efforts for Extruded PVC profiles.

Mr. Shreyansh Dhabriya is a Whole Time Director and a

Mechanical Engineering graduate from VIT University, Vellore. He

focuses on building strong relationships with stakeholders to

enhance profitability and efficiency, and was recognized

nationally for organizing the “India Emerge Youth Summit 2012

Mr. Hitesh Agrawal is the Chief Financial Officer and Head of

Finance & Accounts. He holds a Commerce degree from the

University of Rajasthan and is a Fellow Member of ICAI. With over

20 years of experience, he has been with the company since 2001,

handling accounting, taxation, financial planning, and risk

management. He provides leadership on financial strategy and

works closely with management to implement systems aligned

with the company’s growth goals.

Mr. Sparsh Jain is the Company Secretary and Compliance Officer.

He holds both Bachelor's and Master's degrees in Commerce from

the University of Rajasthan and is an Associate Member of the

ICSI. He manages compliance with the Companies Act, SEBI, and

stock exchange regulations, and liaises with government

departments.

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Diversified Product Portfolio

8

20+

Solutions

Exclusive

Designs

500+

Shades & Textures

Superior

Shades & Textures

•Marble Sheets & Mouldings

•Wall Claddings & False

ceilings

•Pillars

•Furniture

•PVC Laminates

•SPC Wall Panels

•Modular Kitchen & Wardrobes

•Institutional Furniture

•Office Furniture

•PVC Profiles

•Doors & Furniture

•Wall Paneling &

False Ceilings

•PVC Fluted Panels

•PVC Soffit Panels

•PVC Folding

Doors

•UPVC Doors & Windows

•Aluminum Windows &

Doors

•SPC Floorings

•PVC Foam Boards

Widest Range of

Products to

transform your

interior & exterior

spaces

Unmatchable

Designs in each

Product category

Most Exquisite &

Widest range of

shades & textures

Polywood has

always been a

brand known for

its Prouct quality

Investor Presentation – Q4FY25

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Dhabriya’s Diversified Product Portfolio

Investor Presentation – Q4FY259

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Revenue Bifurcation & Key Product Features

58%26%

16%

PVC ProfilesUPVC WindowsModular Furniture

58%25%

17%

PVC ProfilesUPVC WindowsModular Furniture

FY23 VS FY24 VS FY25(Revenue Mix)

FY24FY2565%

23%

12%

PVC ProfilesUPVC WindowsModular Furniture

FY23

10Investor Presentation – Q4FY25

S o u n d

I n s u l a t i o n

Eco-f r i e n d l y

Easy

I n s t a l l a t i o n

T h e r m a l

I n s u l a t i o n

E n e r g y s a v e r

M a i n t e n a n c e

F r e e

T e r m i t e

P r o o f

W a t e r p r o o f

F l a m e

R e t a r d a n t

C u s t o m i z a b l e

L e n g t h

L i g h t w e i g h t

Key Product Features

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ProductType/SegmentCompanyBrandNorthWestSouthEastTotal

PVCProfile/DstonaDPLPolywood/Dstona222967165490

PVCProfile-SouthPPPLPolywood002600260

Modular FurnitureDynastyDynasty17015104199

uPVCWindowsDPLPolywoodNot Applicable assame is directbusiness B-2-Cconcept(forbuilders/end users)

Extensive Distribution Network

11Investor Presentation – Q4FY25

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Strong Processes To Ensure Efficient Product Delivery

12

ORDER

CONFIRMATION

ORDER PLACED IN

PRODUCTION

QUEUE

PRODUCTION

DELIVERYSTOCK INPACKAGING

QUALITY

INSPECTION

QUALITY

ASSURANCE

Real Time Order Management system in place to track movement from order placement to delivery

•Team responsible for all

range of window,

kitchen, and wardrobe

designs

•Use imported printing and

lamination machines from

global leaders for

exceptional color, finish,

and aesthetics.

IN-HOUSE

DESIGN &

PRINTING

TEAM

Investor Presentation – Q4FY25

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Our Manufacturing Capabilities

13

LocationOwnedByActivityArea(Sq.Ft)

Malviya Industrial

Area,Jaipur

DHABRIYA

POLYWOOD

LIMITED

PVC/uPVCProfile, Sheets

&Molding Extrusion

Plant75,015

Sitapura Industrial

Area, Jaipur

DHABRIYA

POLYWOOD

LIMITED

uPVC/Aluminium

Winodws&Doors

Manufacturing1,97,536

Doddaballapura

IndustrialArea,

Bangalore(KNTK)

DHABRIYA

POLYWOOD

LIMITED

PVC/uPVC

ProfileExtrusion Plant1,14,797

Malviya Industrial

Area, Jaipur

DYNASTY

MODULAR

FURNITURES

Modular Furniture

Manufacturing34,883

Theetheepalayam,

Coimbatore(TN)

POLYWOOD

PROFILES PVT

LTD

PVCProfiles Extrusion

Plant87,120

GolfCourse Road

Extension, Guragon

(HR)

DHABRIYA

POLYWOOD

LIMITED

Showroom, Office

cum salesdepott3,760

Investor Presentation – Q4FY25

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Our Manufacturing Capabilities

Investor Presentation – Q4FY25

4

Depots

4

Showrooms

5

Manufacturing facilities

32+

Years of Excellences

ISO

Certifiied

800+

Channel Partners

BSE

Listed

50 Lacs

Delighted Customers

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Window & Door Fabrication

Investor Presentation – Q4FY2515

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State of Art Manufacturing Facilities

16Investor Presentation – Q4FY25

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State of Art Manufacturing Facilities

17Investor Presentation – Q4FY25

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Business Process Overview

Investor Presentation – Q4FY2518

5. Logistics

Manufactured

products are

securely

packed and

dispatched to

the project

site..

4. Order

Finalization

Cost estimates are

finalized, orders

confirmed, and

production begins

as per agreed

specifications

1. Site Visits

A team visits the

client’s location

to assess

requirements and

gather project-

specific details

3. Knowledge

Sharing

Relevant technical

insights and

product

information are

shared to align

understanding

2. Consultation

Experts

discuss project

expectations,

solutions, and

customization

options with

the client..

6. Installation &

Post Activities

A skilled team

handles smooth

installation,

followed by

reliable after-

sales service and

support.

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Widespread Customer Reach Across Varied Industries

19Investor Presentation – Q4FY25

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Executed Projects

Investor Presentation – Q4FY252020

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Executed Projects

21Investor Presentation – Q4FY25

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Executed Projects

22Investor Presentation – Q4FY25

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Competitive Strength

Investor Presentation – Q4FY25

1. Quality Management

Systems

2. Infrastructure &

Production Capacity

3. Wide Product

Range

4. Sales & Marketing

Support

Adheres to stringent quality

standards, ensuring that all

its products are defect free

and of superior quality.

Product range includes

uPVC

Doors,Windows, Polymer

Doors, PVC Profiles and D-

Stona Sheets etc.

Strong online and digital

presence, actively participating

in exhibitions, shows, seminars,

and events relevant to

Architects

Well established Brands.

Notable clientele includes

DLF, Adani, SPCL,

Puravankara, Mahindra,

Omaxe, Tata, etc

In-house system efficiently

manages the entire

‘order-to-supply’ transaction

cycle, providing real-time

updates on all orders to

respective Departments

5. Brand Recall &

Clientele

6. Real Time Order

Management

Boasts a wide geographical

presence and ample capacity

to meet increasing demands

promptly.

23

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Q4FY25 Operational

Performance

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Strong Growth with Margin Improvements

25

Q4FY25

FY25

+11.1%

Revenue

21,163.3

23,510.9

FY24FY25

+20.9%

EBITDA

3,101.2

3,750.2

FY24FY25

+28.0%

PAT

1,408.2

1,802.8

FY24FY25

+15.9%

Revenue

5,477.7

6,346.8

Q4 FY24Q4FY25

+17.5%

EBITDA

870.9

1,023.3

Q4 FY24Q4FY25

+32.3%

PAT

406.4

537.5

Q4 FY24Q4FY25

EBITDA PAT

Margins Profile

16.1%8.5%

+20 bps+110 bps

Investor Presentation – Q4FY25

EBITDA PAT

Margins Profile

16.0%7.7%

+130 bps+100 bps

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Consolidated Segmental Performance

26

PVC Profiles UPVC Windows

1,411.81,484.4

Q4 FY24Q4FY25

Modular Furniture

987.5

1,155.6

Q4 FY24Q4FY25

Q4FY25

FY25

PVC Profiles UPVC Windows Modular Furniture

12,241.1

13,510.8

FY24FY25

5,440.9

5,983.1

FY24FY25

3,481.4

4,017.1

FY24FY25

+20.4%+5.1%+17.0%

+10.4%+10.0%+15.4%

Investor Presentation – Q4FY25

3,078.4

3,706.9

Q4 FY24Q4FY25

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Consolidated Income Statement

27

Particulars (Rs. Lacs)Q4 FY25Q4 FY24Y-o-YQ3 FY25Q-o-QFY25FY24Y-o-Y

Revenue from Operations6,346.85,477.715.9%5,489.715.6%23,510.921,163.311.1%

Total Raw Material3,332.12,781.22,789.512,332.811,681.9

Gross Profit3,014.72,696.511.8%2,700.111.7%11,178.29,481.417.9%

Gross Profit Margin (%)47.5%49.2%49.2%47.5%44.8%

Employee Expenses 900.4885.01,016.83,711.43,280.3

Other Expenses 1,091.1940.7798.13,716.53,099.9

EBITDA 1,023.3870.917.5%885.215.6%3,750.23,101.2020.9%

EBITDA Margin (%) 16.1%15.9%20 bps16.10%0 bps16.00%14.70%130 bps

Other Income16.521.612.458.652.1

Depreciation 209.8191.5241.6862.7689.8

EBIT83070118.4%656.126.5%2946.22463.519.6%

EBIT Margin (%)13.1%12.8%12.00%12.5%11.6%

Finance Cost 123.6133.1118.3485.3508.7

Profit before Tax706.4567.924.4%537.831.3%2460.91954.825.9%

Tax 168.9161.5155.6658.1546.7

Profit After Tax537.5406.432.3%382.240.6%1802.81408.228.0%

PAT Margin (%) 8.5%7.4%110 bps7.00%150 bps7.7%6.7%100 bps

EPS (As per Profit after Tax)4.973.753.5316.6513.01

Investor Presentation – Q4FY25

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Consolidated Balance Sheet

28

Equity And Liabilities ( (Rs. Lacs)Mar-24Mar-25

Shareholder’s Fund

(a) Equity share capital1,082.41,082.4

(b) Other equity7,153.08,912.1

Total Equity8,235.49,994.5

Non ‐ Current Liabilities

Financial liabilities

(i) Borrowings2,074.22,178.5

(ii) Other Financial Liabilities0.01.5

Deferred Tax Liabilities138.1209.1

Provisions 248.8289.0

Other Non Current Liabilities

Total Non ‐ Current Liabilities2,461.22,678.1

Current Liabilities

Financial liabilities

(i) Borrowings3,211.63,159.5

(ii) Trade payables

(a) Dues of micro enterprises and small enterprises34.513.2

(b) Dues of creditors other than micro enterprises and

small enterprises1,222.6975.2

(iii) Other financial liabilities122.5127.5

Other current liabilities682.5671.9

Provisions 349.3360.3

Current tax liabilities (net)138.3132.6

Total Current Liabilities5,761.35,440.2

Total Equity and Liabilities16,457.818,112.8

Assets (Rs. Lacs.) Mar-24Mar-25

Non ‐ Current Assets

Property, plant and equipment6,934.07,740.8

Capital work‐in‐progress507.232.2

Investment Property170.7169.0

Financial Assets

(i) Investments2.12.1

(ii) Trade receivables

(iii) Loans54.0175.0

(iv) Other Financial Assets82.586.4

Total Non ‐ Current Assets7,750.68,205.5

Current Assets

Inventories4,973.65,574.8

Financial Assets

(i) Investments

(ii) Trade receivables2,403.02,824.4

(iii) Cash and cash equivalents686.5748.4

(iv) Bank balances other than (iii) above

(vi) Other current financial assets187.6245.2

Other current assets456.6514.6

Assets classified for Sale

Total Current Assets8,707.29,907.3

Total Assets16,457.818,112.8

Investor Presentation – Q4FY25

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Cash Flow Statement

Investor Presentation – Q4FY25

Particulars (Rs. Lacs)Mar-24Mar-25

Cash Flow from Operating Activities

Profit before Tax1,954.82,460.9

Adjustment for Non-Operating Items1,175.31,314.0

Operating Profit before Working Capital Changes3,130.23,774.9

Changes in Working Capital418.8-1,608.6

Cash Generated/Used from Operations3,549.02,166.3

Less: Direct Taxes paid-373.3-458.4

Net Cash from Operating Activities3,175.71,707.9

Cash Flow from Investing Activities-2,005.8-1,158.8

Cash Flow from Financing Activities-980.8-487.2

Net Increase/(Decrease) in Cash and Cash equivalents189.061.9

29

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Historical Financial

Performance

----------------Page (30) Break----------------

Historical Consolidated Income Statement

31

Particulars (Rs. Lacs)FY22FY23FY24FY25

Revenue from Operations13,364.017,117.221,163.323,510.9

Total Raw Material8,456.710,731.011,681.912,332.8

Gross Profit4,907.36,386.29,481.411,178.2

Gross Profit Margin (%)36.72%37.31%44.80%47.54%

Employee Expenses 1,982.42,493.83,280.33,711.4

Other Expenses 1,553.82,050.43,099.93,716.5

EBITDA 1,371.11,842.03,101.23,750.2

EBITDA Margin (%) 10.26%10.76%14.65%15.95%

Other Income31.129.852.158.6

Depreciation 339.2377.7689.8862.7

EBIT1062.91494.12463.52946.2

EBIT Margin (%)7.95%8.73%11.64%12.53%

Finance Cost 387.0401.2508.7485.3

Profit before Tax675.91092.91954.82460.9

Tax 167.2244.1546.7658.1

Profit After Tax508.8848.81408.21802.8

PAT Margin (%) 3.81%4.96%6.65%7.67%

EPS (As per Profit after Tax)4.77.8413.0116.7

Investor Presentation – Q4FY25

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Historical Consolidated Balance Sheet

32

Equity & Liabilities (Rs. Lacs)Mar-22Mar-23Mar-24Mar-25

Shareholder’s Fund

(a) Equity share capital1,082.41,082.41,082.41,082.4

(b) Other equity4,942.85,801.77,153.08,912.1

Total Equity6,025.36,884.18,235.49,994.5

Non ‐ Current Liabilities

Financial liabilities

(i) Borrowings2,133.52,485.02,074.22,178.5

(ii) Other Financial Liabilities3.31.20.01.5

Deferred Tax Liabilities92.5104.2138.1209.1

Provisions 204.2221.9248.8289.0

Other Non Current Liabilities- -

Total Non ‐ Current Liabilities2,433.52,812.32,461.22,678.1

Current Liabilities

Financial liabilities

(i) Borrowings3,225.53,218.93,211.63,159.5

(ii) Trade payables

(a) Dues of micro enterprises and small

enterprises162.093.034.513.2

(b) Dues of creditors other than micro

enterprises and small enterprises590.5766.21,222.6975.2

(iii) Other financial liabilities218.4188.7122.5127.5

Other current liabilities123.0292.3682.5671.9

Provisions 235.6265.5349.3360.3

Current tax liabilities (net)-10.010.4138.3132.6

Total Current Liabilities4,545.04,835.05,761.35,440.2

Total Equity and Liabilities13,003.714,531.416,457.818,112.8

Assets (Rs. Lacs.) Mar-22Mar-23Mar-24Mar-25

Non ‐ Current Assets

Property, plant and equipment4,367.16,091.66,934.07,740.8

Capital work‐in‐progress819.37.4507.232.2

Investment Property176.9173.8170.7169.0

Financial Assets

(i) Investments1.32.12.12.1

(ii) Trade receivables

(iii) Loans0.068.654.0175.0

(iv) Other Financial Assets55.158.082.586.4

Total Non ‐ Current Assets5,419.76,401.47,750.68,205.5

Current Assets

Inventories4,451.94,946.24,973.65,574.8

Financial Assets

(i) Investments

(ii) Trade receivables2,244.52,170.12,403.02,824.4

(iii) Cash and cash equivalents428.0497.5686.5748.4

(iv) Bank balances other than (iii)

above

(vi) Other current financial assets218.7289.3187.6245.2

Other current assets240.9226.9456.6514.6

Assets classified for Sale

Total Current Assets7,584.18,130.08,707.29,907.3

Total Assets13,003.714,531.416,457.818,112.8

Investor Presentation – Q4FY25

----------------Page (32) Break----------------

Historical Cash Flow Statement

33

Particulars (Rs. Lacs)Mar-22Mar-23Mar-24Mar-25

Cash Flow from Operating Activities

Profit before Tax675.91,092.91,954.82,460.9

Adjustment for Non-Operating Items714.7762.81,175.31,314.0

Operating Profit before Working Capital Changes1,390.61,855.73,130.23,774.9

Changes in Working Capital-233.3-233.1418.8-1,608.6

Cash Generated/Used from Operations1,157.31,622.63,549.02,166.3

Less: Direct Taxes paid-176.0-225.7-373.3-458.4

Net Cash from Operating Activities981.31,396.93,175.71,707.9

Cash Flow from Investing Activities-710.3-1,271.1-2,005.8-1,158.8

Cash Flow from Financing Activities-70.6-56.3-980.8-487.2

Net Increase/(Decrease) in Cash and Cash equivalents200.469.5189.061.9

Investor Presentation – Q4FY25

----------------Page (33) Break----------------

Key Financial Ratios

17,117

21,163

23,511

FY23FY24FY25

1,842

3,101

3,750

FY23FY24FY25

10.8%

14.7%

16.0%

849

1,408

1,803

5.0%

6.7%7.7%

FY23FY24FY25

Effectiveness of capital and strong working capital management

Consistent growth in revenues with operational efficiencies leading to increase in EBITDA and PAT

EBITDA (INR Lacs) and EBITDA Margin (%)PAT (INR Lacs) and PAT Margin (%)

ROCE

(%)

ROE (%)Working Capital

Turnover

12.9%

18.9%20.4%

FY23FY24FY25

13.2%

18.6%19.8%

FY23FY24FY25

5

7

5

FY23FY24FY25

Revenue (INR Lakhs)

34Investor Presentation – Q4FY25

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Industry Overview

----------------Page (35) Break----------------

Pioneers In Revolutionary Fluted Panel Products

36

Breaking The China Monopoly

China remains a major global

manufacturer of fluted panels

due to its cost efficiency and

large-scale production

infrastructure. To counter this

and support indigenous

manufacturing, our company

commenced in-house

production of PVC fluted

panels in 2022 under the

Make in India initiative, with

dedicated facilities in Jaipur

and Bangalore.

We are recognized as a market

leader in fluted panels in India

and currently hold 15 design

patents registered with the

Indian Patent Office. With five

strategically located

manufacturing plants, we

ensure efficient distribution

and service coverage across the

Indian market.

49%

23%

19%

6%

4%

Asia PacificNorth AmericaEuropeMiddle EastLatin America

China Contributes

30% Out of the 49%

share of APAC

Modular Furniture Global Market Share

Investor Presentation – Q4FY25

----------------Page (36) Break----------------

Industry Overview

Real Estate

120180650

1000

5800

201720202025F2030F2047F

Market size Of Real Estate in India (US$ bn)

India’s urban population is expected to reach 42.5% of the total 1.55 billion by

2034, necessitating approximately 78 million new housing units over the next

decade. This urban surge, coupled with improving income levels, is driving

sustained demand across affordable, mid-segment, and luxury housing.

By 2034, lower-middle and upper-middle income groups will form a large

share of the population, fueling the affordable and mid-segment housing market.

Simultaneously, the share of HNIs and UHNIs is projected to triple from 3% to

9%, boosting demand for luxury homes, which already increased from 16% of

sales in 2018 to 34% in 2023 across India’s top cities.

Post-pandemic, homebuyers are prioritizing larger spaces, better amenities,

and wellness-centric features such as natural ventilation, work-from-home

setups, and township-style living. This is further accelerating demand in both

premium and mid-tier segments.

India’s residential real estate is not only a consumption driver but a major

economic contributor. The housing market is expected to generate USD 906

billion in additional economic output by 2034, underlining its critical role in

India’s GDP and employment ecosystem.

Source - IBEF

45%42%37%32%

35%37%36%

38%

20%21%27%30%

2020202120222023

5 Mn INR5-10 Mn INR>10 Mn INR

Source: Knight Frank Research. Note: Residential sales across top 8 cities in

India, 2023. Data is till June 2023

Housing requirement between 2023-34

78

Mn

37Investor Presentation – Q4FY25

----------------Page (37) Break----------------

Industry Overview

Indian Furniture Market

•In 2025, the Furniture market in India is projected to generate a revenue of INR US$6.19bn.

•This market is expected to grow at a compound annual growth rate (CAGR) of 6.04% from 2025 to 2029.

•The largest segment within this market is the Home Décor segment, which is estimated to have a market volume of INR US$2.13bn in 2025.

•When compared globally, United States leads in revenue generation, with a projected revenue of INR US$274bn in 2025.

•Considering the total population, the per person revenue in India's Furniture market is estimated to be INR US$4.26 in 2025.

•"India's furniture market is experiencing a surge in demand due to the growing middle class and increasing urbanization.

uPVC/PVC Market

Source - https://www.statista.com/outlook/cmo/furniture/india

•The Indian plastic furniture market reached USD 17.1 billion in 2025.

•The market is projected to reach USD 40.7 billion by 2033.

•This growth is attributed to factors like urbanization, increasing

disposable incomes, and a shift towards affordable and durable

furniture.

•The uPVC doors and windows market in India was valued at USD 17.36

billion in 2025 and is expected to reach USD 27.17 billion by 2030.

Source - https://www.imarcgroup.com/india-plastic-furniture-market

Plastic Industry

•Leading Sector: Indian plastic industry prominent in the economy, with

PVC being the third largest plastic in production and consumption.

•Import Dynamics: PVC imports surged, accounting for 50% of the

country's demand by 2021, expected to reach $3 billion soon. Indian

import duties lower compared to developed nations and ASEAN Region.

•Advantages: PVC offers lower dependence on fossil fuels, recyclability,

long lifespan, and competitive quality-to-price ratio, driving its adoption in

various industries including real estate.

38Investor Presentation – Q4FY25

----------------Page (38) Break----------------

Key Growth Drivers

39

Key Drivers

Repatriation of NRIs/HNIsRise In Nuclear Families

14

25

Easy Finance AvailabilityRapid Urbanization

Increasing Disposable IncomePopulation Growth

36

Investor Presentation – Q4FY25

----------------Page (39) Break----------------

How Polywood Is Sustainable?

40Investor Presentation – Q4FY25

Our manufacturing

processes are

optimized to ensure

minimal waste, with

by-products

reprocessed wherever

possible.

By using recycled

polymers and wood

substitutes, we

significantly reduce

dependence on natural

timber, helping

preserve forest

ecosystems.

Our production

facilities are designed

for efficiency,

consuming less energy

and lowering our

carbon footprint.

Polywood products are

thermally efficient,

contributing to

reduced energy use in

homes and commercial

spaces.

Zero WasteCurbing Deforestation

Low Energy

Manufacturing

Low Energy Consumption

----------------Page (40) Break----------------

Sustainability Initiatives

41

Sustainability

Initiatives

Company was founded

with the mission of "save

trees" and is committed to

promoting sustainability.

All products serve as

alternatives to wood,

reducing the demand

for traditional timber

resources.

Prioritizes innovation and technology to

provide high-quality, environmentally

friendly wood substitute products,

furthering the commitment to the "save

trees" cause.

Skoch Achievers Award

(2016): received the

order of merit award in

2016 for saving of trees.

Et business leaders

award (2017):

recognized for

environment protection

and conservation

National award for innovation

(2016): polymer waste

management & recycling

technology and green polymeric

materials & products

Recognitions

BY SELLING WOOD-SUBSTITUTE

PRODUCTS AT THEIR CURRENT

VOLUME, THE COMPANY SAVE OVER

7,00,000

TREES

ANNUALLY.

Investor Presentation – Q4FY25

----------------Page (41) Break----------------

Strategies For Marketing & Business Expansion

42

ProductLineProductCategoryStrategy

Extrusion

(Polywood)

Fluted Panels

DoorProfiles

Soffit Panel

Furniture Profile

•Aggressivelyexpandingthesales teamtoincreasemarketspreadacrossPANIndia

•Continuous Participation in large as well as regional business exhibition.

•Addition of several new designs of fluted & soffit panels.

uPVC Windows

& Doors

(Polywood)

Profile

Extrusion

•uPVC Profile extrusion mould are under development and manufacturing will be started

in Q2 FY 26

•Enhancing uPVC Profile sales to channel partners and window fabricators.

Furniture

(Dynasty)

Modular

Furniture

•Arezzo Store – Delhi store became operational in FY 25

•Planning to set up 2 more stores in Q2 FY26

Investor Presentation – Q4FY25

----------------Page (42) Break----------------

Expanding Product Reach Through Trade Exhibitions

Investor Presentation – Q4FY2543

----------------Page (43) Break----------------

Received “top hr

leader” in Rajasthan,

2018 in the “13th

employer branding

awards”

– 27th June 2018.

Received “certificate of

excellence” awards in

the “best employer

2017 awards”

competition – Jan

2019.

The best GenNext

leader at business

rankers award.

Certificate of

excellence” as

business rankers by

department of

industries

government of

Rajasthan

Awards & Recognitions

44

Best employer award

2015 by the

employers

association of

Rajasthan, Jaipur in

November 2016.

First prize for the most

innovative product by

the centre for

development of stones

and FICCI.

The company is being

awarded as sme elite

50 (all India) by ICICI

bank (business

banking)-2022

Order of merit award 2018

for qualifying amongst the

top 100 sme’s by the Skoch

achievers award committee

in march 2018

Received “best employer

brands awards” in

Rajasthan, 2018 in the

“13th employer branding

awards” – 27th June 2018.

Investor Presentation – Q4FY25

----------------Page (44) Break----------------

Awards & Recognitions

Investor Presentation – Q4FY2545

----------------Page (45) Break----------------

ISO Certifications & Associations

46Investor Presentation – Q4FY25

----------------Page (46) Break----------------

Dhabriya Polywood Limited

CIN: L29305RJ1992PLC007003

Email ID: cs@polywood.org

Tel: +91 0141-4057171

Website: www.polywood.org

X-B4 Advisory LLP

Rasika Sawant/Sumit Jha

Tel: +91 95944 57518/ +91 93302 68778

Email ID: rasika@x-b4.com /sumit@x-b4.com

Website: www.x-b4.com

Thank You

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