Financial Performance
Dhunseri Ventures reported significantly weaker FY26 results with standalone profit plunging 91% YoY to ₹5.50 crore, primarily due to a ₹26.26 crore exceptional write-off of investment in Singapore subsidiary Twelve Cupcakes. Consolidated performance also declined with profit of ₹9,097 lakhs (down from ₹14,416 lakhs in FY25) and revenue from operations at ₹37,175 lakhs.
Key Developments
The Group lost control of Twelve Cupcakes Pte Ltd through creditors' voluntary winding up proceedings in Singapore, recognizing a gain of ₹839 lakhs in consolidated statements. The company is pursuing significant expansion with Dhunseri Poly Films adding new BOPP lines in Jammu (commercial production expected 2026-2027) and a BOPET line in Panagarh (59,200 TPA capacity, production expected April 2028).
Capital Structure & Dividends
Borrowings increased substantially to ₹95,103 lakhs, primarily financing the new BOPP project in Kathua, Jammu. The Board recommended a reduced final dividend of ₹1.50 per share (down from ₹5.00 last year) following an interim dividend of ₹3.50 paid during the year. Total dividends paid during FY26 amounted to ₹2,977.10 lakhs.
Investments & Subsidiaries
Capital work-in-progress surged to ₹81,874 lakhs for Polyfilms and BOPP projects. Investments include ₹2,20,544 lakhs in equity-accounted associates (IVL Dhunseri Petrochem and IVL Dhunseri Polyester) and current investments of ₹71,392 lakhs in equities and mutual funds. The company provided corporate guarantees totaling ₹133,497 lakhs to banks for loans taken by Dhunseri Poly Films.
Corporate Governance & Compliance
The company maintained compliance with SEBI Listing Regulations and Companies Act requirements. Key managerial changes included appointments of Mrs. Bharati Dhanuka as Non-Executive Director and re-appointments of several directors. Statutory auditors M/s B S R & Co. LLP and secretarial auditors M/s Mamta Binani & Associates provided clean audit reports without qualifications.