Ddev Plastiks Industries Limited – Investor Presentation Summary

Scrip Code/Symbol: 543547 / DDEVPLSTIK

Key Operational Highlights

  • Total installed capacity increased to 3,16,400 MTPA as of September 2026 across six manufacturing units.
  • Commissioned new XLPE Compound facility in Bhiwadi, Rajasthan with 48,000 MTPA capacity in April 2026.
  • H1FY27 overall capacity utilization at 64% across all product categories.
  • Company manufactures 200+ SKUs across five product categories: XLPE compounds, PVC compounds, HFFR compounds, Anti-fibrillation compounds, and Engineering Products.

Key drivers of operational performance: Capacity expansion initiatives, robust demand from wires and cables industry, and geographic expansion in export markets.

Segment-wise Performance

  • Sioplas/XLPE/Semicons: Installed capacity 2,14,500 MTPA, Q2FY27 utilization 64%
  • PVC Compounds: Installed capacity 69,000 MTPA, Q2FY27 utilization 58%
  • HFFR: Installed capacity 10,000 MTPA, Q2FY27 utilization 45%
  • Anti-fibrillation: Installed capacity 20,500 MTPA, Q2FY27 utilization 81%
  • Engineering Products: Installed capacity 2,400 MTPA, Q2FY27 utilization 20%

Explanation of significant changes in segment performance: Lower utilization in newer segments (HFFR, PVC) due to recent capacity additions, while established segments (XLPE, Anti-fibrillation) maintain higher utilization rates.

Financial Highlights

Revenue: ₹1,968 crore (H1FY27), growth of 36% YoY

EBITDA: ₹187 crore (H1FY27), growth of 22% YoY

PAT: ₹116 crore (H1FY27), growth of 17% YoY

EPS: ₹11.19 (H1FY27)

Margins: EBITDA margin 10%, PAT margin 6%

YoY/QoQ comparison: Q2FY27 revenue ₹978 crore (44% YoY growth, -1% QoQ), Q2FY27 EBITDA ₹86 crore (16% YoY growth, -15% QoQ)

Drivers of financial performance: Higher volumes from capacity additions, improving product mix, and sustained demand from wires and cables industry supported by infrastructure investments.

Key Risks: Global volatility and uncertainty, geopolitical challenges, raw material price fluctuations.

Geographical Revenue Split

Domestic vs Export Revenue:

  • Domestic: ₹1,396 crore, 71% of Total (H1FY27)
  • Export: ₹572 crore, 29% of Total (H1FY27)

Balance Sheet Snapshot

Net Debt/Equity: Net debt-free position maintained since 4QFY24

Reserves: ₹1,106 crore (H1FY27)

Current Assets/Liabilities: Current Assets ₹1,213 crore, Current Liabilities ₹462 crore (H1FY27)

Working Capital/Leverage Metrics: Trade receivables ₹668 crore, Inventories ₹373 crore (H1FY27)

Financial Health Insights: Strong balance sheet with total equity of ₹1,116 crore, commitment to maintain net debt-free status through FY27 and beyond.

Capex & Cash Flow Health

Capital Expenditure: ₹79.22 crore incurred for XLPE capacity addition in April 2026

Free Cash Flow: Not Specified

Operating Cash Flow: Not Specified

Net Debt Movement: Maintained net debt-free position

Investment Rationale: Focus on capacity expansion, automation, operational efficiency, and geographic reach expansion to capture long-term opportunities from India's infrastructure development.

Strategic & R&D Initiatives

Investments in Innovation: State-of-the-art machinery, equipment, and R&D facilities; joint research with IIT Kharagpur and UICT (Mumbai)

Expected impact on growth: New XLPE facility expected to generate additional revenue of ~₹500 crore

Strategic Rationale: Expanding into high-growth markets (renewables, solar cables), reducing operational costs through automation

Industry Trends & Business Environment

Macro/Industry Trends: Growing demand from renewable energy, power transmission, data centers, infrastructure investments; government mandates for HFFR usage in public infrastructure

Impact on Company: Supporting demand for polymer compounds, particularly XLPE and HFFR products; creating opportunities for market expansion

Management Commentary & Growth Outlook

Strategic Outlook: Focus on building profitable international business, investing in capacity expansion and automation, deepening engagement with wire and cable manufacturers

FY Guidance: FY27E revenue ~₹3,800 crore, FY27E capex ~₹175 crore, FY27E EPS ~₹22.31

Market Share Targets: ~50% market share in Sioplas, ~33% in XLPE compounds

Risks and Opportunities: Global volatility and uncertainty, but demand remains robust supported by infrastructure, construction, industrial projects and power

ESG Updates

  • Installed 1.7MW solar power capacity, reducing carbon emissions
  • Planted over 500 trees at manufacturing units and schools
  • Distributed nutrition supplements to TB patients and school students
  • Conducted eye check-ups for 600 persons