Dhabriya Polywood Limited will hold its 34th Annual General Meeting on September 30, 2026. The gathering is scheduled for 11:00 am and will be conducted through video conferencing or other audio-visual means.

The meeting pertains to the financial year ended March 31, 2026. Dhabriya Polywood Limited issued a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

The company notified the Bombay Stock Exchange regarding the upcoming shareholder meeting. The notice was signed by Sparsh Jain, the Company Secretary and Compliance Officer.

Regulatory filings confirm that newspaper advertisements were published in Indian Express, Nafa-Nuksan, and Business Remedies to inform stakeholders of the schedule.

Dhabriya Polywood has received a confirmed work order valued at Rs 4.78 crore from Godrej Properties Ltd. for external facade works. The project is scheduled to be completed over 12 months as per the terms of the order. This filing represents a firm contract, meaning the value is executable and revenue recognition can begin upon commencement of work.

What Happened

The company was awarded a work order worth Rs 4.78 crore (tax inclusive) on August 24, 2026. The scope involves external facade works. The execution timeline is spread over 12 months, allowing for phased revenue recognition. This order adds directly to the company's active backlog.

Order In Financial Context

The new order value of Rs 4.78 crore represents approximately 7.0% of the company's average quarterly revenue of Rs 68.05 crore. The total disclosed order book stands at Rs 21.52 crore (sum of the orders disclosed across the last 3 fiscal quarters shown in the table below). This backlog provides coverage of 0.32 quarters of average quarterly revenue.

Company Order Track Record

Order inflow velocity appears stable, with recent wins from key real estate developers including Godrej Properties Ltd., M3M Group, and Arasa Projects. The current order size is consistent with the company's typical per-order magnitude seen in recent filings.

Execution And Revenue Quality

The company has demonstrated improving margin quality over the last three quarters. Operating profit margins expanded from 21.09% in Q3FY26 to 23.07% in Q1FY27, indicating effective cost management or favorable product mix. Net profit also grew sequentially, reaching Rs 8.90 crore in the latest quarter.

Revenue Growth - Order Wins Translating To Revenue

As Dhabriya Polywood has sustained order wins, its annual revenue has grown from Rs 235.70 crore in FY25 to Rs 264.48 crore in FY26, representing a YoY growth of 12.2% based on the latest annual data. This growth trajectory aligns with the consistent order inflows observed in recent quarters, suggesting that past contracts are converting into top-line expansion effectively.

Working Capital And Execution Capacity

The company maintains a strong liquidity position with a current ratio of 1.82x, providing ample cushion to fund working capital requirements for ongoing projects. Total liabilities/equity stands at 0.74x, indicating a conservative capital structure with minimal reliance on external debt. Operating cashflow remained positive at Rs 17.10 crore in FY25, supporting the view that the business model generates cash efficiently despite working capital cycles typical of construction-adjacent sectors.

Key Observations

• New Order: Secured Rs 4.78 crore contract from Godrej Properties Ltd. for external facade works.
• Execution Timeline: Project to be completed over 12 months.
• Margin Expansion: Operating profit margins improved to 23.07% in Q1FY27 from 21.09% in Q3FY26.