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.

Ddev Plastiks Industries Limited reported a 9% increase in net profit to ₹202 crore for the financial year ended March 31, 2026, driven by a 13% year-on-year growth in revenue from operations to ₹2,948 crore. The company's Board of Directors reviewed and approved the audited financial results for the fourth quarter and full year on May 25, 2026. Consequently, the Board has recommended a final dividend of 125%, or ₹1.25 per equity share, for FY26, in addition to an interim dividend of 50% (₹0.50 per share) declared earlier. The total dividend outflow for the year is estimated at ₹181.08 crore, subject to shareholder approval at the Annual General Meeting.

Financial Performance

For the full year ended March 31, 2026, the company reported a net profit of ₹202 crore compared to ₹185 crore in the previous year. Revenue from operations increased to ₹2,948 crore from ₹2,627 crore in FY25. For the quarter ended March 31, 2026, net profit stood at ₹55 crore, while revenue from operations rose to ₹734 crore from ₹692 crore in the corresponding period of the previous year.

Operational Highlights and Outlook

Management stated that the company navigated a challenging external environment in FY26, marked by geopolitical tensions that disrupted exports and triggered input cost inflation. Despite these headwinds, exports rose by 30% and volumes expanded by 6%. The company's total installed capacity reached 2,68,400 metric tons per annum during the fiscal year, with an additional 48,000 metric tons for XLPE operations commencing from April 2026.

Looking ahead to FY27, the company targets a volume of 2,31,000 metric tons per annum with a capacity utilization of 73% and year-on-year revenue growth of 13%. EBITDA margins are anticipated at approximately 11%. The company plans to invest ₹175 crore in FY27, primarily towards expanding XLPE compound capacity and diversifying into the battery energy storage system (BESS) sector.

Strategic Expansion into BESS

Ddev Plastiks has announced a strategic foray into the battery energy storage system sector to capitalize on opportunities in India's renewable energy ecosystem. The company aims to develop 5 gigawatt of installed capacity in a phased manner. For FY27, the BESS vertical is expected to generate revenue of ₹200 crore to ₹250 crore, with a target to achieve breakeven. Management projects that 1 gigawatt hour of sales in the subsequent year could yield revenue of ₹800 crore to ₹900 crore with EBITDA margins exceeding 10%.

Corporate Governance and Dividend Details

The Board approved the re-appointment of M/s B. Mukherjee & Co. as Statutory Auditors for a term of five years. Additionally, M/s D. Sabyasachi & Co. were appointed as Cost Auditors and M/s B. Chakrabarti & Associates as Internal Auditors for FY27. The Board has fixed Saturday, September 19, 2026, as the record date to determine shareholder eligibility for the final dividend. The book closure dates are scheduled from Sunday, September 20, 2026, to Saturday, September 26, 2026.