Duroply Industries , a key player in the plywood industry, has released its audited financial results for the fiscal year, revealing a mixed performance alongside significant organizational changes.

Financial Performance

The company reported a year-on-year increase in revenue from operations, rising to ₹32,342.30 lakhs from ₹30,233.86 lakhs in the previous year. However, profitability saw a decline:

The fourth quarter results were particularly challenging, with the company posting a net loss of ₹123.37 lakhs, compared to a profit of ₹225.81 lakhs in the same quarter of the previous year.

Board Appointments and Management Changes

Duroply Industries has made several key appointments to strengthen its leadership:

• Mr. Shivram Sethuraman joined as Additional Director (Non-Executive, Independent)
• Mr. Anup Kumar Agarwal was appointed as Additional Investor Director (Non-Executive Non-Independent)
• Mr. Abhishek Chitlangia was re-designated from Vice-President Manufacturing to President - Manufacturing

These appointments are expected to bring fresh perspectives and expertise to the company's strategic decision-making process.

Corporate Office Relocation

In a significant operational move, Duroply Industries has decided to relocate its corporate office from Kolkata to New Delhi. This strategic shift could potentially align the company closer to key markets and regulatory bodies.

Capital Raising Initiative

During the quarter, the company successfully completed a preferential allotment, raising ₹2,889.99 lakhs through a combination of equity shares and warrants. This capital infusion is likely aimed at strengthening the company's financial position and supporting future growth initiatives.

The mixed financial results, coupled with the organizational changes and capital raising efforts, indicate that Duroply Industries is navigating through a period of transition. The impact of these strategic moves on the company's future performance remains to be seen as it adapts to the evolving market dynamics in the plywood industry.

Duroply Industries Limited , a prominent player in the plywood and allied products sector, has initiated a postal ballot to seek shareholder approval for revising the remuneration packages of its top executives. The company aims to increase the compensation for its Executive Chairman and Managing Director & CEO, effective October 1, 2025.

Proposed Remuneration Changes

The postal ballot notice outlines the following proposed changes:

1. Executive Chairman: Mr. Sudeep Chitlangia's annual salary to be increased to Rs 70.00 lakh, with potential performance incentives up to Rs 60.00 lakh.

2. Managing Director & CEO: Mr. Akhilesh Chitlangia's annual salary to be raised to Rs 60.00 lakh, with performance incentives up to Rs 40.00 lakh.

These revisions come after the previous remuneration packages were approved in March 2024.

Company Performance

For the financial year 2024-25, Duroply Industries reported:

Despite the positive figures, the company noted that profits are considered inadequate under statutory provisions for managerial remuneration.

Voting Process

The e-voting period for shareholders runs from August 12 to September 10, 2025. The proposed changes were recommended by the Nomination and Remuneration Committee and approved by the Board on July 31, 2025.

Recent Financial Performance

In its Q1 FY26 earnings call, the company reported:

The company faced challenges in the premium product range, particularly due to the situation in North India, which is its strongest market.

Future Outlook

Duroply Industries is focusing on:

1. Improving operational efficiencies through digitization and automation
2. Expanding its asset-light model with more contract manufacturing
3. Targeting EBITDA margins of 6.5-7% by FY27
4. Aiming for a Return on Capital Employed (ROCE) of 9-12% by the end of the current fiscal year

As the company continues to navigate market challenges and invest in growth, the proposed executive remuneration revisions aim to align leadership compensation with the company's performance and future goals.