DDev Plastiks Industries Ltd (DDEVPLSTIK)
🎯 Key Takeaways
- DDev Plastiks Industries Ltd is in a growth phase driven by capacity expansion, export momentum, and entry into high-margin segments like battery energy storage. Management is executing a clear scale-up strategy with a ₹5,000 crore revenue target by FY30, supported by volume growth and geographic expansion into West Bengal.
- Revenue grew 29.2% QoQ to ₹989 in Q1FY27.
- ⚠️ Raw material and freight cost volatility could pressure margins despite current stability.
- Market Cap
- ₹2,614
- P/E Ratio
- 12.3
- P/B Ratio
- 2.58
- ROE
- 21.1%
- ROCE
- 30.2%
- Debt/Equity
- 0.06
- Div Yield
- 0.69%
- Promoter
- 75.0%
📖 The Story
DDev Plastiks Industries Ltd is in a growth phase driven by capacity expansion, export momentum, and entry into high-margin segments like battery energy storage. Management is executing a clear scale-up strategy with a ₹5,000 crore revenue target by FY30, supported by volume growth and geographic expansion into West Bengal.
📰 What's Happening
In Q1 FY27, the company reported 29% YoY revenue growth to ₹989 crores, fueled by export demand and capacity additions of 48,000 MTPA. PAT grew 22% YoY to ₹64 crores with EBITDA at ₹101 crores (10% margin). Management highlighted expansion into Battery Energy Storage Systems and utilization of the new Bhiwadi facility targeting 50% capacity by FY27 end. A new Independent Director was appointed in August 2026, with reconstitution of key board committees pending shareholder approval at the AGM.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 680 | 733 | 766 | 989 |
| Operating Profit | 60 | 71 | 70 | 86 |
| OPM % | 8.8% | 9.7% | 9.1% | 8.7% |
| Net Profit | 47 | 48 | 55 | 64 |
| EPS | ₹4.55 | ₹4.64 | ₹5.27 | ₹6.16 |
Revenue has grown from ₹680 crores in September 2025 to ₹989 crores in June 2026, reflecting accelerating demand and successful capacity ramp-up. Operating margins remain stable around 8.7–9.7%, supporting PAT growth from ₹47 crores to ₹64 crores over the same period. EBITDA margins improved to 10% in Q1 FY27, indicating operating leverage from scale and higher-margin product mix.
🔮 Management Outlook & What's Next
Management targets ₹5,000 crores revenue by FY30, 15% volume growth in FY27, and 50% utilization of the Bhiwadi facility by FY27 end. Expansion into West Bengal and entry into the Battery Energy Storage Systems market are explicitly cited as strategic priorities. Export growth is expected to sustain its 16% CAGR trajectory from FY22–FY26, underpinning future revenue visibility.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 |
| Reserves | 824 | 726 | 1,003 | 906 |
| Borrowings | 42 | 63 | 57 | 46 |
| Total Liabilities | 1,155 | 1,068 | 1,444 | 1,228 |
| Fixed Assets | 275 | 237 | 304 | 296 |
| Investments | 61 | 5 | 21 | 75 |
| Total Assets | 1,155 | 1,068 | 1,444 | 1,228 |
The company remains net debt-free with total borrowings at ₹57 crores as of March 2026, up slightly from ₹46 crores a year ago. Equity and reserves have grown steadily, supporting asset expansion. Capital expenditures appear to be funded internally through operating cash flows, consistent with a capital-efficient growth model.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +137 |
| Investing | -114 |
| Financing | -57 |
| Net Cash Flow | -34 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 75.0% | 75.0% | 75.0% | 75.0% |
| FII | 1.1% | 0.9% | 0.9% | 1.5% |
| DII | 0.8% | 1.0% | 0.6% | 0.1% |
| Public | 13.6% | 13.6% | 13.6% | 14.0% |
| # Shareholders | 35,406 | 35,011 | 33,725 | 33,896 |
Promoter holding remains stable at 75%, but FII shareholding has declined from 1.13% in Q2FY26 to 1.46% in Q1FY27, while DII increased slightly. Public shareholding rose from 13.57% to 14.01% over the same period, indicating retail investor interest. The number of shareholders has marginally increased, suggesting broadening ownership.
⚖️ Peer Comparison — Chemicals
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| PIDILITIND | 1.53 L Cr | 57.6 | 33.4% | — | 0.01 |
| SRF | 73,810 | 34.1 | 15.6% | — | 0.36 |
| LINDEINDIA | 52,814 | 96.7 | 17.5% | — | 0.00 |
| FLUOROCHEM | 48,774 | 79.7 | 9.6% | — | 0.34 |
| NAVINFLUOR | 43,256 | 54.7 | 22.2% | — | 0.31 |
| GODREJIND | 36,153 | 30.8 | 9.2% | — | 4.57 |
| HSCL | 33,807 | 42.0 | 20.7% | — | 0.16 |
| AETHER | 23,029 | 97.7 | 13.8% | — | 0.08 |
| DEEPAKNTR | 21,155 | 27.0 | 15.3% | — | 0.26 |
| CASTROLIND | 19,891 | 18.7 | 76.2% | — | 0.00 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Raw material and freight cost volatility could pressure margins despite current stability. 2. Execution risk around West Bengal expansion and timely ramp-up of new capacity. 3. Dependence on export demand exposes the company to global commodity and currency headwinds. 4. Market penetration in the emerging Battery Energy Storage Systems segment remains unproven and may require new capex.
📋 Recent Filings
- 🔴 Corporate Action2026-09-28The Board declared a final dividend of Rs 1.25 per share (125% payout) for FY2026, payable electronically by 25 October 2026 to shareholders on the re…
- 🟡 Board Meeting2026-09-28DDev Plastiks Industries announced at its 26 September 2026 AGM that Mrs. Rajni Mishra was promoted to Non-Executive Independent Director with effect …
- 🔴 Corporate Action2026-09-28DDev Plastiks Industries declared a final dividend of Rs 1.25 per share for FY2026, payable by 25 October 2026 to shareholders on record as of 19 Sept…
- 🟡 Board Meeting2026-09-28DDev Plastiks Industries announced that at its 6th AGM on 26 September 2026, shareholders approved the change in designation of Mrs. Rajni Mishra from…
- 🟡 voting results2026-09-28DDev Plastiks Industries Ltd held its 2026 AGM on 26 September 2026 via video conference, with shareholders approving all six resolutions. The audited…
- 🟡 Board Meeting2026-09-26The 6th Annual General Meeting of DDev Plastiks Industries Ltd was held on 26 September 2026 via video conference, with 86 members representing 79.60%…
- Announcement2026-09-22DDev Plastiks Industries Ltd announced the closure of its insider trading window effective October 1, 2026, ahead of the Q2 FY2026 unaudited results a…
- 🔴 annual report2026-08-31Ddev Plastiks Industries announced that the Annual Report FY 2025-26 and Notice of AGM are now accessible via its website and stock exchange portals, …
- 🔴 Corporate Action2026-08-31DDev Plastiks Industries announced a recommended dividend of Rs 1.25 per share for FY 2025-26, payable after AGM approval on 26 September 2026, with t…
- 🟡 Board Meeting2026-08-31Ddev Plastiks Industries announced its 6th AGM on 26 September 2026 via video conference, with record date 19 September 2026 for voting and dividend e…
🧠 Analyst's Read
DDev Plastiks is transitioning from a volume-driven player to a scalable, margin-accretive growth story with clear strategic direction. Investors should monitor execution of expansion plans, margin resilience amid input cost swings, and progress toward the ₹5,000 crore revenue target by FY30.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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