DDEVPLSTIK

Ddev Plastiks Industries share price & financials

Price
₹273.17
Market cap
₹2.9k Cr
Sector
Chemicals
Calls analysed
7
Latest concall · Q1 FY27 · call held 11 Aug 2026

Ddev Plastiks Industries Limited Q1 FY27

EBITDA ₹100 cr +27%EBITDA Margin 10% PAT ₹64 cr +22%

What went well

  • Revenue grew by 29% year-on-year, primarily from robust traction in cables and wire segment and export market.
  • EBITDA grew by 27% year-on-year with margins at 10%, crossing ₹100 crores for the first time.
  • Profit after tax stood at ₹64 crores, registering a 22% year-on-year growth.

What to watch

  • BESS business is getting shifted from West to East, potentially delaying commercialization by a couple of quarters.
  • Q1 volume growth was only 1% despite a full-year target of 15% volume growth, attributed to uncertainty and high prices.
Read the full call →

What Ddev Plastiks Industries Limited does

Ddev Plastiks manufactures polymer (PVC and polyethylene-based) compounds used by cable, wire, packaging, footwear, white-goods and engineering-plastics customers, formulating and pelletizing sourced PVC resin and polymer feedstock into customised compounds sold to manufacturers such as Apar, Havells, KEC, KEI, Paramount and Polycab. It operates across five product categories - Antifab/filled compounds & master batches, PVC compounds, Sioplas/XLPE and semicon compounds, engineering plastic compounds, and halogen-free flame retardant (HFFR) compounds - and has recently entered Battery Energy Storage Systems (BESS) as an assembly-led new business line. The company runs its own R&D facilities, including joint research programmes with IIT Kharagpur and UICT Mumbai, and exports to customers across more than 55 countries.

Segments

  • Antifab / Filled Compounds / Master Batches
  • PVC Compounds
  • Sioplas / XLPE Compounds / Semicons
  • Engineering Plastic Compounds
  • Halogen Free Flame Retardant (HFFR)
  • Battery Energy Storage Systems (BESS)
Installed manufacturing capacity
2,68,400 MTPA (as of March 2026)
Manufacturing plants
6 units, located in West Bengal, Daman & Diu, Dadra & Nagar Haveli and Rajasthan
Employees
400+
Export footprint
55+ countries
Product range
200+ compounds/SKUs across 5 product categories
Market position
India's largest listed polymer compound manufacturer; holds roughly one-third of India's ~2.5 lakh tonne cable-compounding industry
Founded 1985Headquarters Kolkata, West Bengal, India Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 2 delivered 2 missed 16 open
  • EBITDA Margin delivered said Q4 FY25 Promised: Maintain a healthy EBITDA margin of around 10% to 12% Q1 FY27: Delivered 10% EBITDA margin, within the 10-12% target band. Reiterated the target range.
  • Export Share went quiet said Q4 FY25 Promised: Share of exports to come back to 25% of overall revenue in FY26 Q1 FY27: Target was for FY26, which has passed. No final update on FY26 export share was provided. The promise remains unconfirmed.
  • BESS Capacity delayed said Q3 FY26 Promised: Achieve 5 gigawatt hour in less than 3 years Q1 FY27: Project is being shifted from West to East, which is expected to cause a delay of a couple of quarters.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 28.6%, net profit up 23.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue580 661 737 769 680 +17%733 +11%766 +4%989 +29%
EBITDA64 70 76 73 64 +0%76 +9%74 −3%91 +25%
Net profit45 47 52 52 47 +4%48 +2%55 +6%64 +23%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −24.3% 1Y

₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q3 FY26 — 10 Feb 2026Q4 FY26 — 26 May 2026Q1 FY27 — 11 Aug 2026

1Y: ₹339.4 on 10 Sept 2025 → ₹256.8. High ₹350.7 (16 Sept 2025), low ₹189.35 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+1.6%
11 Aug
Q4 FY26
+3.6%
26 May
Q3 FY26
−4.6%
10 Feb
Q2 FY26
+7.2%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 5.6% a year over 3 years, FY23 to FY26. Operating margin widened to 9.7%.

Year endingFY23FY24FY25FY26
Revenue₹2.5k Cr₹2.4k Cr₹2.6k Cr₹2.9k Cr
Operating profit₹160 Cr₹258 Cr₹268 Cr₹287 Cr
Operating margin6.4%10.6%10.3%9.7%
Interest₹33 Cr₹23 Cr₹22 Cr₹29 Cr
Depreciation₹12 Cr₹13 Cr₹15 Cr₹18 Cr
Net profit₹104 Cr₹182 Cr₹186 Cr₹202 Cr
Net margin4.2%7.5%7.1%6.9%
Cash from operations₹145 Cr₹116 Cr₹137 Cr₹85 Cr
Free cash flow₹117 Cr₹94 Cr₹80 Cr₹-11 Cr
ROCE32.0%42.0%34.0%31.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹0 Cr₹9 Cr₹9 Cr₹10 Cr₹10 Cr₹10 Cr
Reserves₹0 Cr₹382 Cr₹485 Cr₹650 Cr₹906 Cr₹1.0k Cr
Borrowings₹0 Cr₹130 Cr₹56 Cr₹66 Cr₹46 Cr₹57 Cr
Other liabilities₹0 Cr₹408 Cr₹362 Cr₹269 Cr₹266 Cr₹374 Cr
Total liabilities₹0 Cr₹929 Cr₹912 Cr₹995 Cr₹1.2k Cr₹1.4k Cr
Fixed assets₹0 Cr₹207 Cr₹225 Cr₹231 Cr₹296 Cr₹304 Cr
Capital work in progress₹0 Cr₹2 Cr₹1 Cr₹3 Cr₹14 Cr₹50 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹75 Cr₹21 Cr
Other assets₹0 Cr₹720 Cr₹686 Cr₹761 Cr₹843 Cr₹1.1k Cr
Total assets₹0 Cr₹929 Cr₹912 Cr₹995 Cr₹1.2k Cr₹1.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs added +1.11 pp while DIIs trimmed −1.06 pp. The shareholder count shrank 11% to 33,896.

Promoters
75.0%
FIIs
1.5%
DIIs
0.1%
Public
23.5%

Since Jun 2025

  • FIIs +1.11 pp
  • DIIs −1.06 pp
  • Public −0.03 pp

How it drifted, 12 quarters

Over this window the public fell from 25.0% to 23.5% — −1.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.8%, FIIs 0.2%, Public 25.0%.Dec '23: Promoters 74.8%, FIIs 0.1%, DIIs 0.3%, Public 24.8%.Mar '24: Promoters 75.0%, FIIs 0.0%, DIIs 0.2%, Public 24.8%.Jun '24: Promoters 75.0%, FIIs 0.0%, DIIs 0.3%, Public 24.7%.Sep '24: Promoters 75.0%, FIIs 0.0%, DIIs 0.3%, Public 24.7%.Dec '24: Promoters 75.0%, FIIs 0.0%, DIIs 0.5%, Public 24.5%.Mar '25: Promoters 75.0%, FIIs 0.4%, DIIs 0.5%, Public 24.1%.Jun '25: Promoters 75.0%, FIIs 0.4%, DIIs 1.1%, Public 23.5%.Sep '25: Promoters 75.0%, FIIs 1.1%, DIIs 0.8%, Public 23.1%.Dec '25: Promoters 75.0%, FIIs 0.9%, DIIs 1.0%, Public 23.1%.Mar '26: Promoters 75.0%, FIIs 0.9%, DIIs 0.6%, Public 23.5%.Jun '26: Promoters 75.0%, FIIs 1.5%, DIIs 0.1%, Public 23.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Ddev Plastiks Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Bbigplas Poly Private Limited 74.99%unchanged
Jijivish Investec Private Limited 4.40%unchanged
Investor Education And Protection Fund Authority - 2 1.65%newly disclosed
Rajat Lodha 1.11%unchanged
Sarla Surana 0.00%unchanged
Narrindra Suranna 0.00%unchanged
Tara Devi Surana 0.00%unchanged
Ddev Surana 0.00%unchanged
Investor Education and Protection Fund —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹257, this stock must grow earnings at 4% every year for 7 years. Our analysis caps realistic growth at ~25%. At that growth it is worth ₹754 — upside of 193%.

Growth the price implies
4.2% a year
for 7 years, fading to 4%
It has actually compounded at
24.8% a year
net profit, FY23–FY26 · EPS 24.7%
The gap
-0.2 pp
193% downside if it only repeats history
Price today ₹256.8 Value at the reference growth ₹753.65

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Ddev Plastiks Industries Limited

Guides on how to read this kind of business and the numbers that matter.