In a quarter where crude prices danced, geopolitics sulked, and monsoon clouds loomed, Ddev Plastiks somehow kept its cables untangled. Q1 FY26 revenue surged 23% YoY to ₹769 crore, powered by 13% volume growth and a neat 9% uptick in average selling price. EBITDA margin held steady at 10%, while PAT clocked ₹52 crore (7% margin). The company is flexing a ₹300-crore capex plan to add 1,30,000 MT capacity across PVC, XLPE, and Halogen Free Flame Retardant (HFFR) compounds by FY27 — with an eye on 50% market share in XLPE and a solar-cable-driven HFFR boom.
Why it matters? Because in the high-voltage world of polymer compounding, capacity is clout — and Ddev is plugging straight into India’s infra and renewable push.
Stick around—things get spicier two scrolls down.
AT A GLANCE
• Revenue up 23% – volumes +13%, prices +9% YoY
• EBITDA ₹79 cr, margin 10% – steady despite raw material nudges
• Capacity utilisation 87% – basically running full throttle
• ₹300 cr capex by FY27 – XLPE, PVC, HFFR in expansion overdrive
MANAGEMENT’S KEY COMMENTARY
Rajesh Kothari (Whole-Time Director):
“Market demand is
