Plastic Products company Ddev Plastiks Industries announced Q1FY24 results: Revenue from Operations stood at Rs 6,381 million with growth of 18.8% on a YoY basis EBITDA stood at Rs 613 million, a growth of 96.0% on a YoY basis with a margin of 9.5% PAT of Rs 378 million, a growth of 164.0% on a YoY basis with a margin of 5.9% Commenting on the performance, Narrindra Suranna, Chairman and Managing Director said, “FY23 was an exceptional year and has motivated us to strive harder to achieve higher growth for the coming years. The new financial year has started well for us. We successfully navigated through challenges posed by the volatile economic environment, including supply chain disruptions and escalating commodity and energy prices. In Q1FY24, the Company delivered Revenue from Operations of Rs 6,381 million with a growth of 18.8% on a YoY basis. EBITDA of Rs 613 million, a growth of 96% on a YoY basis with a margin of 9.5%, owing to higher operational efficiencies. PAT of Rs 378 million, a growth of 164% on a YoY basis with a margin of 5.9%. The growth was primarily driven by high demand from cable industries. This performance boosts our confidence and assures us that we are on track to achieve our strategic and financial goals. Domestic operations accounted for 72% of our Company's revenue in the quarter, exhibiting a growth of 19% compared to the same period last year. Whereas exports contributed 28% to our revenue. We are dedicated to expanding our global exports, which will further enhance our top-line growth. We are pleased and proud to inform you that the Company, has been felicitated and awarded by the Federation of Indian Chambers of Commerce and Industry (FICCI) with “Excellence in Exports-Petrochemicals” and “Excellence in Sub-Sector-Plastics Polymers & Polymer Processing / Compounding Chemicals. As we move forward, we remain committed to building a sustainable business with a strong clientele, cutting-edge technologies, and diversified product offerings. Our focus on serving diversified end markets, achieving product leadership, and making continuous financial progress will further drive our growth and success." Result PDF