Ddev Plastiks FY26 PAT grows 9% to INR 202 Cr
Ddev Plastiks Industries Ltd. reported a 9% increase in PAT to INR 202 Cr for FY26, alongside 13% revenue growth. The company commissioned 48,000 MTPA XLPE capacity and entered the BESS sector with a 5 GW target.
*this image is generated using AI for illustrative purposes only.
Ddev Plastiks Industries Ltd. delivered a strong financial performance for FY26, growing revenue by 13% year-on-year and EBITDA by 12%, while closing the year with a PAT growth of 9% to INR 202 Cr. This growth was achieved despite global macroeconomic turbulence, geopolitical headwinds, and softer trade sentiment. The company solidified its position as India's largest listed Polymer Compound manufacturer through strategic capacity expansion and operational scaling.
On the operational front, Ddev Plastiks Industries scaled its installed capacity to 2,68,400 MTPA through brownfield and greenfield investments. Additionally, 48,000 MTPA of dedicated XLPE compound capacity was commissioned, which became operational from April 2026. The company also reported a 30% growth in exports during the period, navigating disruptions caused by the Israel-Iran conflict and raw material volatility.
Strategic Outlook and Guidance
Looking ahead, the company has set a revenue target of ₹5,000 crore from its Compounding business for FY30. For FY27, management guides for approximately 13% revenue growth and a 15% increase in volumes to Rs2,31,000MT. Sustainable EBITDA margins are expected to remain at 11%, with potential upside from the new Battery Energy Storage Systems (BESS) vertical.
New Business Vertical
Beyond its core business, the company has entered the Battery Energy Storage Systems (BESS) sector to support India's renewable energy transition. Plans include building 5 GW of phased installed capacity, with each gigawatt projected to contribute ₹800–900 crore to the topline. The company has committed a capital expenditure of ₹175 crore for FY27 to support these initiatives.
Key Growth Drivers
The management identified several factors driving growth in the cables segment, including investments in power transmission, solar and wind energy capacity, and the Smart Cities mission. Increased construction activity and infrastructure projects are supporting the Building Wires segment, while rising capital expenditure in sectors such as Auto, Steel, Oil and Gas, and Power is boosting the Control & Instrumentation Cables segment.
| Factors driving growth in the cables segment | Segments |
|---|---|
| • Investments in power transmission and distribution • Capacity addition in solar and wind energy • Smart cities mission • Increasing investments in Railways for electrification |
Power Cables |
| • Affordable housing schemes • Spike in nuclear families • Investments in commercial and residential infrastructure • Increased construction activity supported by growing infrastructure projects |
Building Wires |
| • Capex rising across industries such as Auto, Steel, Oil and Gas, and Power • Investment expenditure by Indian Railways and in other mass transit systems • Increased focus on automation in ‘manufacturing and processing’ to monitor and control quality |
Control & Instrumentation Cables |
Historical Stock Returns for Ddev Plastiks Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.78% | +0.83% | +11.76% | -9.75% | +1.90% | +5.37% |
How will the company fund the planned 5 GW BESS capacity beyond the initial ₹175 crore allocated for FY27?
What is the expected timeline for the BESS vertical to reach its projected contribution of ₹800–900 crore per gigawatt?
Will the expansion into BESS impact the sustainable EBITDA margins of the core compounding business in the near term?
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