DDEVPLSTIK - DDev Plastiks
📢 Recent Corporate Announcements
Ddev Plastiks Industries Limited has announced a virtual meeting with Arihant Capital as part of the 'Bharat Connect Conference Group Rising Star 2026'. The interaction is scheduled for March 9, 2026, from 12:00 PM to 02:00 PM IST. Management will discuss the company's performance based on publicly available documents, specifically the Q3 and Nine Months results for the period ended December 31, 2025. Such meetings are standard practice for maintaining institutional investor relations and transparency.
- Virtual interaction scheduled with Arihant Capital on March 9, 2026, between 12:00 PM and 02:00 PM IST.
- Participation in the 'Bharat Connect Conference Group Rising Star 2026' event.
- Discussions will be centered on the Q3 and 9M FY26 financial results ended December 31, 2025.
- Company confirms that no unpublished price sensitive information (UPSI) will be disclosed during the session.
Ddev Plastiks reported a steady Q3 FY26 with revenue growing 11% YoY to ₹733 crore and a PAT of ₹48 crore. The company is diversifying into the Battery Energy Storage Systems (BESS) sector with a ₹150 crore Greenfield plant, targeting ₹800-900 crore revenue per gigawatt of capacity. Export performance remains robust, growing 33% YoY in the first nine months to reach ₹523 crore. Management has reaffirmed its long-term revenue target of ₹5,000 crore by FY30, supported by recent capacity expansions in HFFR and PVC compounds.
- Q3 FY26 revenue reached ₹733 crore (+11% YoY) with an EBITDA margin of 11% and PAT of ₹48 crore.
- Entering BESS market with a 5 GWh capacity plant; Phase 1 investment of ₹150 crore funded entirely via internal accruals.
- 9M FY26 exports surged 33% YoY to ₹523 crore, contributing 27% to the total Q3 revenue mix.
- Commissioned 30,000 MTPA additional capacity in HFFR and PVC, bringing total installed capacity to 2,68,400 MTPA.
- Management projects BESS segment to contribute approximately 20% to overall revenue once stabilized.
Ddev Plastiks Industries Limited has released the audio recording of its earnings conference call for the third quarter and nine months ended December 31, 2025 (Q3FY26). The call was held on February 10, 2026, following the approval of financial results by the Board of Directors on the same day. This disclosure is part of the company's regulatory compliance under SEBI Listing Regulations. The recording provides management's detailed commentary on the company's financial performance and operational updates for the period.
- Audio recording of Q3FY26 earnings call made available on the company's website on February 10, 2026.
- The call covers financial performance for the quarter and nine-month period ended December 31, 2025.
- The disclosure follows the board meeting held on the same day where Q3 results were approved.
- Recording can be accessed via the 'Media Centre' section on the official Ddev Plastiks website.
- Complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Ddev Plastiks Industries reported a steady Q3 FY26 performance with revenue from operations growing to ₹732.84 crore, up from ₹660.75 crore in the same quarter last year. Net profit for the quarter stood at ₹48.04 crore, reflecting a year-on-year growth compared to ₹46.60 crore. The company has declared an interim dividend of ₹0.50 per equity share (50% of face value) with a record date of February 20, 2026. Additionally, the company issued a correction for a clerical error in its financial notes regarding the fiscal year reference.
- Revenue from operations increased by 10.9% YoY to ₹732.84 crore in Q3 FY26.
- Net profit for the nine-month period ended December 2025 reached ₹147.29 crore, a 10.1% growth YoY.
- Interim dividend of ₹0.50 per share announced, with a total payout amounting to ₹517.38 lacs.
- Earnings Per Share (EPS) for Q3 FY26 improved to ₹4.64 from ₹4.50 in the previous year's corresponding quarter.
- Total income for the nine-month period stood at ₹2,203.85 crore compared to ₹1,881.70 crore YoY.
Ddev Plastiks reported a robust 9MFY26 performance with revenue growing 17% YoY to ₹2,182 crore and PAT increasing 11% to ₹147 crore. The company successfully commissioned 30,000 MTPA of new capacity in Q3FY26, specifically for PVC and HFFR compounds. A major strategic pivot was announced into the Battery Energy Storage Systems (BESS) market, with a 5 GWh assembly plant planned for Q3 FY27. This expansion, estimated at ₹150-200 crore, will be funded entirely through internal accruals, reflecting a strong financial position.
- 9MFY26 Revenue grew 17% YoY to ₹2,182 crore, while Exports surged 33% to ₹523 crore.
- Added 30,000 MTPA capacity in Q3FY26, bringing total installed capacity to 2,68,400 MTPA.
- Announced entry into BESS manufacturing with a 5 GWh Phase 1 plant expected by Q3 FY27.
- Planned BESS investment of ₹150–200 crore to be funded via internal accruals.
- Maintains a dominant ~33% market share in the XLPE compounds segment in India.
Ddev Plastiks Industries Limited has announced an interim dividend of Rs. 0.50 per equity share for the financial year 2025-26. This payout represents 50% of the face value of Re. 1 per share. The Board of Directors approved the dividend in their meeting held on February 10, 2026, and fixed February 20, 2026, as the record date for determining shareholder eligibility. The dividend will be paid to shareholders within the statutory period of 30 days from the declaration.
- Interim dividend declared at Rs. 0.50 per equity share of Re. 1 face value
- Dividend payout rate is 50% of the face value
- Record date for eligibility is fixed as February 20, 2026
- Payment to be completed within 30 days from the declaration date of February 10, 2026
Ddev Plastiks Industries has declared an interim dividend of ₹0.50 per share (50% of face value) for the financial year 2025-26. The company reported a steady performance for Q3 FY26, with revenue from operations growing to ₹732.84 crore from ₹660.75 crore in the previous year's corresponding quarter. Net profit for the quarter increased to ₹48.04 crore, while basic EPS rose to ₹4.64. The board also approved a remuneration hike of ₹50,000 per month for both the Chairman and the CEO effective April 2026.
- Declared an interim dividend of ₹0.50 per equity share (50% on face value of ₹1)
- Revenue from operations increased 10.9% YoY to ₹732.84 crore in Q3 FY26
- Net profit for Q3 FY26 stood at ₹48.04 crore compared to ₹46.60 crore in Q3 FY25
- Record date for dividend entitlement is fixed as February 20, 2026
- Approved monthly remuneration increment of ₹50,000 for Chairman and CEO effective April 1, 2026
Ddev Plastiks Industries reported a steady performance for Q3 FY26, with revenue from operations growing 10.9% year-on-year to Rs 732.84 crore. The company declared an interim dividend of Rs 0.50 per share (50% of face value) with a record date of February 20, 2026. Net profit for the quarter stood at Rs 48.04 crore, up from Rs 46.60 crore in the same period last year. For the nine-month period ending December 2025, the company achieved a net profit of Rs 147.29 crore on a total income of Rs 2,203.85 crore.
- Revenue from operations increased by 10.9% YoY to Rs 732.84 crore in Q3 FY26.
- Net profit for Q3 FY26 grew to Rs 48.04 crore compared to Rs 46.60 crore in Q3 FY25.
- Declared an interim dividend of Rs 0.50 per equity share (50% of FV) with a record date of Feb 20, 2026.
- 9M FY26 total income reached Rs 2,203.85 crore, up from Rs 1,881.70 crore in the previous year.
- Basic EPS for the quarter improved to Rs 4.64 from Rs 4.50 in the corresponding quarter last year.
Ddev Plastiks Industries reported a 10.9% YoY increase in revenue from operations to ₹732.84 crore for the quarter ended December 31, 2025. Net profit for the quarter rose to ₹48.04 crore from ₹46.60 crore in the previous year. The company declared an interim dividend of ₹0.50 per share, representing a 50% payout on the face value of ₹1. For the nine-month period, the company maintained steady growth with a PAT of ₹147.29 crore compared to ₹133.77 crore in the prior year.
- Revenue from operations grew 10.9% YoY to ₹732.84 crore in Q3 FY26.
- Net profit (PAT) increased to ₹48.04 crore from ₹46.60 crore in Q3 FY25.
- Interim dividend of ₹0.50 per share declared with a record date of February 20, 2026.
- 9M FY26 total income reached ₹2,203.85 crore, up from ₹1,881.70 crore in 9M FY25.
- Basic EPS for the quarter improved to ₹4.64 from ₹4.50 YoY.
Bbigplas Poly Private Limited (BPPL), the holding company of Ddev Plastiks Industries Limited, has consolidated its position by acquiring 849,602 shares from individual promoters. The acquisition was an inter-se transfer conducted at Rs. 380 per share, increasing BPPL's direct stake from 74.17% to 74.99%. As this is a transfer within the promoter group, the overall promoter shareholding remains unchanged. This move is intended to simplify the promoter group's holding structure under a single entity.
- BPPL acquired 849,602 shares from individual promoters at a price of Rs. 380 per share.
- BPPL's direct shareholding in the company increased from 74.17% to 74.99%.
- The transferors included individual promoters Narrindra Suranna, Tara Devi Surana, and Ddev Surana.
- Total promoter group holding remains unchanged as the transaction is an inter-se transfer among the group.
Bbigplas Poly Private Limited, the holding company of Ddev Plastiks, has acquired 8,49,602 equity shares from other promoter group members through an inter-se transfer. The transaction was executed at a price of Rs. 380 per share to consolidate the promoter holding under the holding company. Following this transfer, Bbigplas Poly's direct stake has increased from 74.17% to 74.99%. As this is a transfer within the promoter group, the total promoter shareholding and the company's public float remain unchanged.
- Inter-se transfer of 8,49,602 equity shares among promoter group members completed on February 4-5, 2026.
- Acquisition price set at Rs. 380 per share.
- Bbigplas Poly Private Limited's stake increased to 74.99% from 74.17%.
- Sellers include Narrindra Suranna, Tara Devi Surana, and Ddev Surana who reduced their individual holdings to near zero.
- Transaction conducted under SEBI SAST Regulation 10(1)(a)(i) exemption for promoter transfers.
Bbigplas Poly Private Limited, the holding company and promoter of Ddev Plastiks Industries, has consolidated its stake through an inter-se transfer of 8,49,602 shares. The shares were acquired from individual promoters Narrindra Suranna, Tara Devi Surana, and Ddev Surana at a price of Rs 380 per share. This transaction increases Bbigplas Poly's direct holding from 74.17% to 74.99%. As this is a transfer within the promoter group, the overall promoter shareholding remains unchanged at the group level.
- Acquisition of 8,49,602 equity shares by Bbigplas Poly Private Limited via inter-se transfer.
- Transaction executed at a price of Rs 380 per share on February 4th and 5th, 2026.
- Bbigplas Poly's stake in the company increased from 74.17% to 74.99%.
- Individual promoters reduced their direct holdings to nominal levels (approx. 500 shares each).
- Total promoter and promoter group holding remains unchanged following the consolidation.
Ddev Plastiks Industries Limited has scheduled its earnings conference call for the third quarter and nine months ended December 31, 2025. The call is set to take place on Tuesday, February 10, 2026, at 4:00 PM IST. Key management personnel, including the Chairman, CEO, and the CEO of Renewable Energy, will be present to discuss the financial results. This call follows the board meeting previously announced for the declaration of Q3 FY26 results.
- Earnings call scheduled for February 10, 2026, at 04:00 PM IST following Q3 FY26 results.
- Management participation includes Chairman Narrindra Suranna and CEO Ddev Surana.
- The call will cover financial performance for the nine months ended December 31, 2025.
- Presence of CEO Renewable Energy suggests updates on the company's green energy initiatives.
- The event is hosted by Go India Advisors with registration details provided for institutional and retail participants.
Ddev Plastiks Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This document confirms that the company has complied with the necessary procedures for dematerialization of shares for the quarter ended December 31, 2025. Such filings are a standard regulatory requirement for all listed entities in India to ensure the integrity of shareholding records. The announcement contains no material information regarding the company's financial performance or business operations.
- Compliance certificate submitted as per Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
- The filing pertains to the third quarter (Q3) ended December 31, 2025.
- The document was officially signed and submitted to BSE and NSE on January 17, 2026.
- Confirms routine administrative adherence to depository norms regarding share certificates.
Ddev Plastiks is diversifying into the Battery Energy Storage System (BESS) sector with a multi-phase manufacturing program. The company plans to establish a 5 GWh facility by FY 2026-27 with an initial capital outlay of ₹150-200 crores. This strategic move targets the growing renewable energy storage market in India, which is projected to reach a market value of USD 32 billion by 2030. Revenue from this new segment is expected to commence in the second half of FY 2026-27.
- Approved entry into Battery Energy Storage System (BESS) business within the renewable energy sector
- Phase 1 involves setting up a 5 GWh manufacturing facility by FY 2026-27
- Initial capital investment estimated at ₹150-200 crores for the first phase
- Revenue contribution expected to start from H2 FY 2026-27
- Includes a state-of-the-art R&D center for advanced battery technologies
Financial Performance
Revenue Growth by Segment
Revenue for FY22 grew by 45% YoY to INR 2,249 Cr, driven by better realizations in the high voltage XLPE segment. 9M FY23 revenue reached INR 1,853 Cr, a 14.4% increase from INR 1,619 Cr in 9M FY22. The company targets INR 5,000 Cr revenue by FY 2030.
Geographic Revenue Split
Exports contributed to revenue growth in FY22, though specific regional percentages are not disclosed. The company sources a significant portion of imports from the Middle East to benefit from interest-free credit periods.
Profitability Margins
Operating margins improved from 4.0-4.5% to 5.7% in FY22. For FY 2024-25, the Operating Profit Margin was 10% (down 9.17% from 11.01% in FY 2023-24) and Net Profit Margin was 7.12% (down 4.69% from 7.47% in FY 2023-24).
EBITDA Margin
EBITDA margin for 9M FY24 improved sharply to 10.2% from 7.3% in FY23. This 39.7% YoY improvement was driven by a shift to high-margin products and lower raw material costs.
Capital Expenditure
The company commissioned a 6,000 MT/annum HFFR facility in Q1 FY24. It plans to scale HFFR capacity from 5,000 MT to 25,000 MT (a 5x increase). No major term-loan funded capex is planned for the medium term as expansion is funded through internal accruals.
Credit Rating & Borrowing
The company holds an 'A+ Stable' rating from CRISIL. Bank limits were increased to INR 759 Cr in February 2024. Interest coverage ratio improved 11.13% YoY to 12.48 in FY 2024-25.
Operational Drivers
Raw Materials
Specific raw materials include crude oil derivatives (polymers) used for compounding. Raw material costs are managed via a cost-plus markup model, allowing the company to pass on price increases to customers within a short period.
Import Sources
The company imports raw materials from the Middle East, leveraging interest-free credit periods to lower working capital requirements.
Capacity Expansion
Current XLPE capacity is 150,000 tons per annum. HFFR capacity is being expanded from 5,000 MT to 25,000 MT. Entry into the 132 KV high voltage segment is also planned to improve gross profit per kg.
Raw Material Costs
Historical gross margins were ~13% but improved to ~18% in 9M FY24 due to lower raw material prices and a shift in product mix toward high-margin XLPE and HFFR compounds.
Manufacturing Efficiency
The company converts old manufacturing facilities at low cost to increase production of higher-margin products. Capacity utilization is reported as being at record highs in FY 2024-25.
Logistics & Distribution
Strategic plant locations in West Bengal, Daman, and Silvassa provide logistical advantages for both raw material imports and product exports.
Strategic Growth
Expected Growth Rate
10-12%
Growth Strategy
Growth will be achieved by shifting focus from low-margin PVC to high-margin XLPE and HFFR compounds, scaling HFFR capacity 5x to 25,000 MT, and entering the 132 KV high voltage cable segment. The company aims for INR 5,000 Cr revenue by 2030.
Products & Services
Polymer compounds including XLPE (Cross-linked Polyethylene), HFFR (Halogen Free Flame Retardant), and PVC compounds sold to the wire and cable and packaging industries.
Brand Portfolio
Ddev Plastiks.
New Products/Services
New products include HFFR compounds and 132 KV high voltage segment compounds, which are expected to significantly improve gross profit per kg.
Market Expansion
The company is targeting increased market share in the high voltage and HFFR segments, which are considered 'products of the future' with growing significance in the wires and cables industry.
Market Share & Ranking
Ddev Plastiks is India's largest listed polymer compound supplier and one of the largest manufacturers in the polymer compounding industry.
External Factors
Industry Trends
The industry is shifting toward high-margin, specialized compounds like HFFR and high-voltage XLPE. Ddev is positioning itself as a leader in these 'future products' to capture growth in the wires and cables segment, which is growing at 10-12% annually.
Competitive Landscape
The company faces competition from MNC players and unorganized industry players, particularly in the lower-margin PVC segment.
Competitive Moat
Moat is built on being the largest listed player with a three-generation legacy, strategic coastal plant locations for logistical cost advantages, and a cost-plus pricing model that protects margins.
Macro Economic Sensitivity
The business is sensitive to global geopolitics and economic slowdowns, which can impact export demand and supply chain stability.
Consumer Behavior
Increased demand for safety and environmental compliance is driving a shift toward HFFR (Halogen Free Flame Retardant) compounds in the wire and cable industry.
Geopolitical Risks
Geopolitical unpredictability and wars are cited as threats that could impact exports and demand for polymer compounds.
Regulatory & Governance
Industry Regulations
The company must adhere to manufacturing standards for polymer compounds and raw material sourcing regulations, which could impact operational effectiveness.
Environmental Compliance
Compliance with strict environmental norms is cited as a potential threat that could impact operational costs and raw material sourcing.
Risk Analysis
Key Uncertainties
Key risks include raw material price volatility (crude oil derivatives) and technological disruptions that could make current polymer compounds obsolete.
Geographic Concentration Risk
Manufacturing is concentrated in West Bengal, Daman, and Silvassa, though these locations are strategically chosen for port proximity.
Third Party Dependencies
The company is dependent on Middle Eastern suppliers for raw material imports to maintain its interest-free credit cycle.
Technology Obsolescence Risk
Technological risks are mitigated through internal R&D and continuous customer feedback to adapt to changing material needs.
Credit & Counterparty Risk
Credit risk is managed through regular reviews of receivable insurance policies for export sales and effective management of working capital components.