Any current/future new fundraising through debt or equity?

No specific mention of any current or future fundraising through debt or equity in the call. All capital expenditure and capacity expansion plans are stated to be funded through internal accruals only. Management confirmed that capital work-in-progress (CWIP) and commitments for ongoing and upcoming expansion will be met from internal resources. The company maintains a net debt-free status as of the last quarter of FY24 and into the current financial year. No plans for issuing bonus shares or other equity fund-raising are currently under consideration; any such thought process would be communi

Any current/future capex/capital investment/strategic investment?

The company has committed close to ₹50 crore CAPEX for the current financial year (FY 2024-25). Additional CAPEX commitments of around ₹40-60 crore are expected in the current financial year as well, mostly as commitments rather than actual outlay. Over the next two years, the company plans to invest another ₹100-150 crore for capacity expansion. Capacity additions targeted: 25,000 tons of XLPE from FY 2025 to 2027 and 15,000 tons of HFFR over the same period. Land acquisition completed in Bhilad near Vapi for a new greenfield plant; construction and machine orders are pending. New X

Future growth expectations in sales/revenue/volumes?

The company targets a volume CAGR of approximately 12% for the next two to three years, supported by strong market demand. Volume guidance for FY'25 is around 1,86,000 to 1,87,000 tons, with 91,000 tons achieved in H1 and about 95,000 tons expected in H2. While export volumes have faced headwinds due to high freight rates and margin pressures, strong domestic demand is expected to offset export losses, maintaining overall volume growth. The export mix is expected to remain between 22% to 26%, with the domestic share around 72% to 75%. Revenues may reflect fluctuations due to raw materi

Future growth expectations in earnings/operating earnings/profits/EPS?

The company targets a 12% CAGR volume growth over the next 2-3 years, supported by strong market demand. Operating EBITDA per ton is expected to be maintained in the range of Rs. 14,000 to Rs. 15,000 in the medium term. Management expects EBITDA margins to remain around 10-12%, with profits rising in line with volume growth. Despite challenges in export volumes due to high freight rates, strong domestic demand is expected to offset this. Revenue growth may fluctuate due to raw material price variation, but steady EBITDA per ton is anticipated. By FY 2030, the company aims for a turno

Current/ Expected Orderbook/ Pending Orders?

The transcript does not explicitly mention the current or expected order book or pending orders in precise figures. Management indicated having orders in hand for inventory, specifically mentioning inventory worth about ₹35-36 crore corresponding to less than 3-4 days of sales. There is a general positive outlook on demand, with strong domestic demand expected to offset export challenges. Approvals and capacity utilization expansions, especially in new products like HFFR and XLPE, suggest a growing order intake pipeline. The company is working on new product launches (e.g., 132 kV cables), but

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DDev Plastiks Industries LtdQ3 FY24Chemicals & Petrochemicals

DDev Plastiks Industries Ltd Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹272P/E: 12.6Market Cap: ₹2.5K CrSector: Chemicals & Petrochemicals

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

→The company targets a volume CAGR of approximately 12% for the next two to three years, supported by strong market demand.
→Volume guidance for FY'25 is around 1,86,000 to 1,87,000 tons, with 91,000 tons achieved in H1 and about 95,000 tons expected in H2.
→While export volumes have faced headwinds due to high freight rates and margin pressures, strong domestic demand is expected to offset export losses, maintaining overall volume growth.
→The export mix is expected to remain between 22% to 26%, with the domestic share around 72% to 75%.
→Revenues may reflect fluctuations due to raw material price changes, with realizations per ton expected to stabilize from Q2 onwards, supporting revenue growth in H2 and beyond.
→The company aims to exceed its earlier commitment of achieving Rs. 5,000 crore turnover by 2030 with 10%-12% profit margins.

Margin guidance

Category 3

→The company targets a 12% CAGR volume growth over the next 2-3 years, supported by strong market demand.
→Operating EBITDA per ton is expected to be maintained in the range of Rs. 14,000 to Rs. 15,000 in the medium term.
→Management expects EBITDA margins to remain around 10-12%, with profits rising in line with volume growth.
→Despite challenges in export volumes due to high freight rates, strong domestic demand is expected to offset this.
→Revenue growth may fluctuate due to raw material price variation, but steady EBITDA per ton is anticipated.
→By FY 2030, the company aims for a turnover of Rs. 5,000 crore with EBITDA margins of 10-12%.
→No specific guidance on EPS, but profitable growth is strongly indicated given margin and volume targets.
→Bonus shares possibility is under consideration but not currently committed.

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Fundraise plans

→No specific mention of any current or future fundraising through debt or equity in the call.
→All capital expenditure and capacity expansion plans are stated to be funded through internal accruals only.
→Management confirmed that capital work-in-progress (CWIP) and commitments for ongoing and upcoming expansion will be met from internal resources.
→The company maintains a net debt-free status as of the last quarter of FY24 and into the current financial year.
→No plans for issuing bonus shares or other equity fund-raising are currently under consideration; any such thought process would be communicated in the future.
→Management emphasizes focus on utilizing internal funds for expansion and maintaining financial prudence without external borrowings at this stage.

Order book

→The transcript does not explicitly mention the current or expected order book or pending orders in precise figures.
→Management indicated having orders in hand for inventory, specifically mentioning inventory worth about ₹35-36 crore corresponding to less than 3-4 days of sales.
→There is a general positive outlook on demand, with strong domestic demand expected to offset export challenges.
→Approvals and capacity utilization expansions, especially in new products like HFFR and XLPE, suggest a growing order intake pipeline.
→The company is working on new product launches (e.g., 132 kV cables), but timing depends on customer trials and market acceptance.
→Management committed to responding with precise figures on volume drop and export losses after further checking.

Capex plans

Yes

→The company has committed close to ₹50 crore CAPEX for the current financial year (FY 2024-25).
→Additional CAPEX commitments of around ₹40-60 crore are expected in the current financial year as well, mostly as commitments rather than actual outlay.
→Over the next two years, the company plans to invest another ₹100-150 crore for capacity expansion.
→Capacity additions targeted: 25,000 tons of XLPE from FY 2025 to 2027 and 15,000 tons of HFFR over the same period.
→Land acquisition completed in Bhilad near Vapi for a new greenfield plant; construction and machine orders are pending.
→New XLPE capacity expected to come online in the first half of FY 2026.
→The Bhilad plant launch timeline is pending, with construction to start after land acquisition formalities.
→All CAPEX funding is expected to be through internal accruals.

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