Plastic Products company Ddev Plastiks Industries announced FY24 results: Rs 2,431 crore Revenue Rs 282 crore EBITDA Rs 182 crore PAT 4 Decade of Operations – current capacity 2,37,500 MTPA (as of April, 2024). 5 manufacturing units with state-of-the art machinery, infrastructure, equipment, and R&D; facilities. Diverse product portfolio with more than 200+ compounds. Proven track record: FY20-FY24 CAGR Revenue – 9%, EBITDA – 36%, PAT-60% Commenting on the Performance, Narrindra Suranna, Chairman and Managing Director said: "I am excited to share another exceptional fiscal of strong performance. We achieved a remarkable 52% EBITDA growth YoY expanding the margin to 12% in FY24; this has been the first year post the de-merger we were able to record a double digit EBITDA Margin and aim to sustain it in the coming years as well. In the current fiscal Net profit (PAT) grew substantially by 75% to Rs 182 crore, solidifying our strong financial performance. As we move forward, we remain committed to leveraging our operational strengths, fostering innovation, and strengthening our market presence and creating superior Stakeholder value ." Result PDF
Plastic Products company Ddev Plastiks Industries announced Q2FY24 & H1FY24 results: Q2FY24: Operating Revenue: Rs 6,423 million, a slight decrease of 0.4% YoY EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Rs 658 million, an increase of 78.9% YoY; Margin: 10.2% Profit After Tax (PAT): Rs 423 million, an increase of 125.9% YoY; Margin: 6.5% H1FY24: Operating Revenue: Rs 12,804 million, growth of 8.3% YoY EBITDA: Rs 1,271 million, an upsurge of 86.8% YoY; Margin: 9.8% Profit After Tax (PAT): Rs 801 million, a significant rise of 142.3% YoY; Margin: 6.2% Other Highlights: Domestic Operations: Accounted for 77% of revenue; 15% growth YoY Exports: Made up 23% of revenue Commenting on the performance, Narrindra Suranna, Chairman and Managing Director said, “Ddev Plastiks has continued its strong growth momentum in Q2FY24 and delivered a revenue of Rs 6,423 million on the back of higher volumes. During the quarter, your Company has achieved an EBITDA of Rs 658 Mn, a growth of 79% on a YoY basis with a margin of 10.2%, owing to higher operational efficiencies and PAT of Rs 423 million, a strong growth of 126% on YoY basis with a margin of 6.5%. Despite the challenges due to the decline in selling prices, our profitability remained robust. This underscores the strength of our business model and our ability to navigate market dynamics while maintaining a steadfast focus on operational excellence. In Q2FY24, our Domestic operations accounted for 77% of our Company's revenue in the quarter, exhibiting a growth of 15% compared to the same period last year. Whereas exports contributed 23% to our revenue. Our unwavering commitment to augmenting global exports stands as a pivotal strategy in fortifying and elevating our top-line growth trajectory. We maintain a constant focus on reaching our customers and understanding their requirements dynamically. As we move forward, our commitment to sustained growth, operational efficiency, and financial resilience remains steadfast. Fuelled by a favorable demographic landscape, a resilient economy, and supportive governmental policies, the prospect for success and value creation for our shareholders will be significant. Backed by our superior manufacturing and product innovation capabilities, we remain confident of our growth and ability to overcome challenges and capitalize on opportunities. This positions Ddev Plastiks for continued triumph within the ever-evolving business landscape.”
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
Plastics Products company Ddev Plastiks Industries announced Q4FY23 & FY23 results: Q4FY23: Revenue from Operations stood at Rs 6,672 million with growth of 7.2% on YoY basis EBITDA stood at Rs 754 million, a growth of 94.7% on YoY basis with margin of 11.2% PAT of Rs 483 million, a growth of 167.5% on YoY basis with margin of 7.1% FY23: Revenue from Operations stood at Rs 25,037 million with growth of 12.4% on YoY basis EBITDA stood at Rs 1,857 million, a growth of 45.2% on YoY basis with margin of 7.3% PAT of Rs 1,041 million, a growth of 90.0% on YoY basis with margin of 4.1% Cash from operations increased by Rs 1,186 million to Rs 1,451 million in FY23 Commenting on the performance, Narrindra Suranna, Chairman and Managing Director said: “FY23 has proven to be a remarkable year for our Company as we became public, thus advancing ourselves towards a promising future. We successfully navigated through challenges posed by the volatile economic environment, including supply chain disruptions and escalating commodity and energy prices. Despite the headwinds in FY23, our operational and financial performance exceeded our expectations. In Q4 FY23, the Company has achieved its highest ever financial performance, Revenue from Operations of Rs 6,672 million with a growth of 7.2% on YoY basis. EBITDA of Rs 754 million with margin of 11.2%, owing to higher operational efficiencies. PAT of Rs 483 million with margin of 7.1%. The growth was primarily driven by high demand from cable industries. This outstanding performance boosts our confidence and assures that we are on track to achieve our strategic and financial goals. Domestic operations accounted for 70% of our Company's revenue in the quarter, exhibiting a growth of 53.1% compared to the same period last year. Whereas exports contributed 30% to our revenue. We are dedicated to expanding our global exports, which will further enhance our top-line growth. During the fiscal year, we achieved a significant milestone as our Return on Equity (ROE) exceeded the 20% threshold for the first time in the company's history. Additionally, we successfully reduced our net debt by Rs 742 million to reach Rs 488 million, driven by improved cash flow from operations and a leaner working capital cycle. We are delighted to announce that the Company has recommended the issuance of a bonus share of 1 share for every 10 shares held, as a token of appreciation for our shareholders' trust and support. Furthermore, we have recommended a final dividend @100% (i.e., Re 1 per fully paid-up Equity Share of Re 1), demonstrating our commitment to delivering sustainable long-term returns to our shareholders while maintaining a robust financial position. As we move forward, our commitment towards excellence and growth remains unchanged. We will continue to prioritize customer satisfaction and innovation, while also seeking out new opportunities for expansion and diversification in India and globally. With favourable demography, robust economy, and supportive government policies, the potential for success and value creation for our shareholders will be significant. Backed by our superior manufacturing and product innovation capabilities, we remain confident of our growth in FY24 and beyond.” Result PDF