BSECompany Update3d ago · 6 Nov 2026, 07:23 pm
Press Release - Un-audited Financial results of the Company for the quarter & half year ended on September 30, 2026.
Dhabriya Polywood Ltd · 538715
✦ AI Summary▲ PositiveResults
Dhabriya Polywood Ltd has announced its unaudited financial results for Q2 FY27, reporting a 16.1% YoY growth in revenue from operations to ₹77.8 crore, with EBITDA growing 19.9% YoY to ₹16.4 crore and PAT increasing 20.9% YoY to ₹9.2 crore.
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Earnings Impact8/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact9/10
Market Sentiment8/10
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Dhabriya Polywood Ltd - 538715 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
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(PEES, DHABRIYA POLYWOOD LIMITED
£ ‘DHABRIYA
Regd. Office : B-9D(1), Malviya Industrial Area, JAIPUR-302 017 (Raj.) INDIA
M* GROUP
Phone : +91-141-4057171, 4040101-105 | Fax : +91-141-2750814
E-mail info@polywood.org | Website : www.polywood.org
CIN : L29305RJ1992PLC007003
Ref: BSE/2026-27/54 Date: 06.11.2026
The Manager,
Listing Department,
BSE Limited,
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai - 400001
Scrip Code: 538715 | ISIN: INE260R01016
Sub.: Press Release — Un-audited Consolidated Financial Results for the quarter and half year ended September
30, 2026.
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
please find enclosed the press release on the unaudited consolidated financial results of Dhabriya Polywood
Limited for the quarter and half year ended September 30, 2026.
The above is for your information and record.
Thanking You,
For Dhabriya Polywood Limited
SPARSH JAIN
Company Secretary & Compliance Officer
Encl.: Press Release
POLYWOOD
WINDOWS & DOORS SINCE 1992
PRESS RELEASE
Dhabriya Polywood Delivers Its Highest-Ever Quarterly Performance in Q2
FY27, Driven by Strong Revenue Growth and Sustained Profitability
Jaipur, 6th November 2026: Dhabriya Polywood Limited, the Jaipur-headquartered manufacturer of interior building material
solutions under the Polywood brand announced its unaudited financial results for the quarter and half year ended 30th
September 2026. With 34 years of manufacturing heritage, the Company offers a diversified portfolio spanning uPVC/PVC
profile extrusion, doors, windows, aluminium glazing systems, modular furniture, SPC flooring and PVC foam boards; serving
residential, institutional, hospitality and infrastructure customers across India and select international markets.
Q2 FY27 Consolidated Performance
IN ₹ CRORES
Particulars Q2 FY27 Q2 FY26 YOY Q1 FY27
Revenue from Operations 77.8 67.0 16.1% 68.3
EBITDA 16.4 13.7 19.9% 15.8
EBITDA Margin (%) 21.1% 20.4% 70 bps 23.1%
Profit After Tax 9.2 7.6 20.9% 8.9
PAT Margin (%) 11.8% 11.4% 40 bps 13.0%
Basic Earnings Per Share 8.51 7.03 8.18
All figures are consolidated*
Product Mix
The Plastic Products (uPVC/PVC) segment, comprising engineered, specification-led profiles, windows, doors and panels, recorded
revenue of ₹69.5 crore in Q2 FY27, accounting for 89% of gross turnover compared with 81% in Q2 FY26. Segment margins stood at
18.6% for the quarter and 19.4% for H1 FY27. The Modular Furniture segment recorded revenue of ₹8.4 crore with segment margins
of 10.3%. The rising share of higher-value, specification-led products continues to strengthen realisations and profitability.
Segment
Revenue Share Of Segment
Segment - Q2 FY27 Qoq Result
(₹ Cr) Turnover Margin
(₹ Cr)
uPVC / PVC products 69.5 13.7% 89.2% 12.9 18.6%
Q2 FY26 comparative 54.8 – 81.4% 9.8 17.9%
Modular Furniture 8.4 13.2% 10.8% 0.9 10.3%
Q2 FY26 comparative 12.5 – 18.6% 1.5 11.7%
Total Segment Profit before Interest & Tax 77.8 13.7% 100.0% 13.8 17.7%
All figures are consolidated*
PRESS RELEASE
Ratios Moving in the Right Direction
Metric Q2 FY27 Q2 FY26 Y-o-Y
EBITDA Margin 21.1% 20.4% +70 bps
PBT Margin 16.0% 14.7% +130 bps
PAT Margin 11.8% 11.4% +40 bps
Capital Expenditure
The Company continues to execute its multi-year capital expenditure programme, covering modernisation and expansion of
extrusion capacity, the new WPC doors and panel lines, and the aluminium windows and façade facility at Jaipur. During H1 FY27,
net cash used in investing activities stood at ₹36.5 crore, with property, plant and equipment rising to ₹117.2 crore as of 30th
September 2026 from ₹88.4 crore as of 31 March 2026, alongside capital work-in-progress of ₹8.9 crore. The programme is being
funded through internal accruals and debt, with no equity dilution.
Management Commentary
Q2 FY27 marks the highest quarter in the Company’s history, with record revenue, EBITDA, PAT and EPS, alongside
expanding margins. Revenue from operations grew 16.1% YoY to ₹77.8 crore, while EBITDA grew 19.9% YoY to ₹16.4
crore, with EBITDA margin at 21.1%. PAT increased 20.9% YoY to ₹9.2 crore, with PAT margin at 11.8%.
The quality of growth continues to improve, driven by premiumisation, a richer product mix and operating efficiencies.
Our Plastic Products (uPVC/PVC) business recorded revenue of ₹69.5 crore in Q2 FY27 and now contributes 89% of gross
turnover, with segment margins at 18.6%. For H1 FY27, the segment recorded revenue of ₹130.5 crore, with segment
margins at 19.4%. The Modular Furniture segment recorded revenue of ₹8.4 crore, with segment margins at 10.3%. The
increasing contribution of engineered, specification-led products continues to strengthen realisations and profitability,
reinforcing our confidence in the sustainability of our improved margin profile.
Our growth visibility has strengthened further, with the total order book reaching an all-time high of ₹240+ crore as on
date. This includes ₹100+ crore in the Aluminium Windows & Façade division, which is now emerging as a meaningful
growth driver, with revenue conversion expected from Q4 FY27 onwards.
Overall, H1 FY27 reflects the continued strengthening of our business mix, profitability and growth visibility. With the
second half typically being seasonally stronger and the order book providing a clear runway, we remain well positioned
to deliver sustained performance through FY27 and beyond.”
Mr. Digvijay Dhabriya · Promoter, Chairman & Managing Director, Dhabriya Polywood Limited
PRESS RELEASE
What is Building underneath the Numbers
Order book at an all-time high - ₹240+ crore as on date
The largest unexecuted project business order book in the Company’s 34-year history, including ₹100+ crore in the Aluminium
Windows & Façade division, providing multi-quarter revenue visibility rather than quarter-to-quarter dependence.
Fresh wins being booked into FY27
The Company continues to add specification-led project orders across aluminium windows & façade, uPVC windows & glazing
and modular furniture.
New revenue verticals switching on
The Aluminium Windows & Façade division, with ₹100+ crore of orders on hand, is expected to begin revenue conversion
from Q4 FY27 onwards.
Balance sheet getting stronger, not thinner
CRISIL upgraded the Company’s bank facilities to BBB+/Stable in July 2026. Interest coverage improved to 9.3x in Q2 FY27
from 7.6x in Q2 FY26, net worth rose to ₹147.7 crore as of 30th September 2026 from ₹129.6 crore as of 31 March 2026, and
debt/equity remains comfortable at 0.68x.
A five-year compounding record
Between FY21 and FY26 revenue multiplied roughly 2.4 times while profit after tax multiplied roughly 7.5 times.
Extrusion Capacity Order Book Channel Partners Manufacturing Units
27,600 MTPA ₹240+ Cr 800+ 6 Units
as on date
Upgraded from 24,000 MTPA in FY26. Highest in the Company’s history. Showrooms and depots pan-India. Jaipur, Bengaluru and Coimbatore.
ABOUT DHABRIYA POLYWOOD LIMITED
Incorporated in 1992 and listed on BSE (538715) and NSE (DHABRIYA), Dhabriya Polywood Limited is one of India’s most
diversified manufacturers of interior building-material solutions under the flagship Polywood brand. Its portfolio spans
extruded uPVC/PVC profiles, sheets and mouldings; uPVC and aluminium windows, doors and glazing systems; PVC and
fluted wall and ceiling panels; WPC doors and panels; SPC flooring; and modular furniture — marketed across the
Polywood, Dynasty, D-Stona, Studio Arezzo and Everluxe brands. The Group operates six manufacturing units across
Jaipur, Bengaluru and Coimbatore spanning approximately 5.4 lakh sq. ft., with 27,600 MTPA of extrusion capacity and 30
lakh sq. ft. of fabrication capacity, supported by a pan-India network of 800+ channel partners, showrooms and depots
serving residential, institutional, hospitality and infrastructure customers in India and select international markets.
Forward-looking statements: This press release contains forward-looking statements re
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