BSECompany Update12 Aug 2026 · 12 Aug 2026, 08:54 pm
Press Release - Unaudited Consolidated Financial Results for the quarter ended June 30, 2026.
Dhabriya Polywood Ltd · 538715
✦ AI Summary▲ PositiveResults
Dhabriya Polywood Ltd reported consolidated revenue of ₹68.31 crore and profit after tax of ₹8.86 crore for Q1 FY27, the Company's highest-ever quarterly EBITDA, PAT and EPS. EBITDA margin expanded 317 basis points year-on-year to 23.07%, driven by a decisive shift in mix towards higher-value products.
Analysis Scores
Earnings Impact9/10
Growth Catalyst8/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk5/10
Liquidity Impact9/10
Market Sentiment9/10
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Dhabriya Polywood Ltd - 538715 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
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S ° DHABRIYA POLYWOOD LIMITED
5\ DHABRIYA Regd. Office : B-9D(1), Malviya Industrial Area, JAIPUR-302 017 (Raj.) INDIA
) G RO U P Phone © +91-141-4057171, 4040101-105 | Fax: +91-141-2750814
E-mail : info@polywood.org | Website : www.polywood.org
CIN : L29305RJ1992PLC007003
Ref: BSE/2026-27/29 Date: 12.08.2026
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 ended June 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 un-audited consolidated financial results of Dhabriya Polywood
Limited for the quarter ended June 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
s= i
POLYWOOD
WINDOWS & DOORS SINGCE 1992
PRESS RELEASE
Dh abriya Polywood Delivers a Record First Quarter as a Richer Product Mix
Drives Further Margin Expansion
Jaipur, 12 August 2026: Dhabriya Polywood Limited, the Jaipur-headquartered manufacturer of interior building material solutions
under the Polywood brand, today reported consolidated revenue of ₹68.31 crore and profit after tax of ₹8.86 crore for Q1 FY27 - the
Company’s highest-ever quarterly EBITDA, PAT and EPS. EBITDA margin expanded 317 basis points year-on-year to 23.07%, driven
by a decisive shift in mix towards higher-value products, which now account for 89% of turnover. The Company also carries an all-
time-high order book of ₹200+ crore as of today in its project-related business and is executing a ₹100 crore capex programme.
Q1 FY27 Consolidated Performance
IN CRORES
PARTICULARS Q1 FY27 Q1 FY26 YOY Q4 FY26
Revenue from Operations 68.31 62.09 +10.0% 69.74
EBITDA 15.76 12.36 +27.6% 14.72
EBITDA Margin (%) 23.07 19.90 +317 bps 21.11
Profit Before Tax 11.90 8.84 +34.5% 11.66
Profit After Tax 8.86 6.54 +35.4% 8.33
PAT Margin (%) 12.97 10.53 +243 bps 11.94
Earnings Per Share (₹, not annualized) 8.18 6.04 +35.4% 7.69
All figures are consolidated and derived from the un-audited financial results for the quarter ended 30 June 2026, Q4 FY26 is shown to indicate the exit run-rate off which the
quarter was delivered. EPS is not annualized.
Product Mix
01 · PREMIUMISATION IS NOW STRUCTURAL, NOT CYCLICAL
The margin expansion at Dhabriya Polywood is increasingly being driven by what the Company sells, rather than simply by the volumes
it delivers. In Q1 FY27, extruded uPVC/PVC profiles, sheets and mouldings, and windows and doors, grew 20.0% year-on-year to
₹61.07 crore and now accounts for 89.2% of gross turnover, against 81.5% in the corresponding quarter. Segment profitability
improved even faster, with segment margin advancing from 17.9% to 20.4%. This is precisely the migration the Company has been
engineering: away from commodity extrusion volumes and towards engineered, specification-led solutions; uPVC and aluminium
window and door solutions, fluted and luxury wall and ceiling panels, SPC flooring and full interior fit-out packages.
These categories command higher realisations, are increasingly specified by architects and developers at the project design stage
rather than being selected primarily on price, and are considerably less exposed to short-term PVC resin volatility because they are
sold as solutions rather than as profile. That is why the margin expansion is sustainable over a longer horizon rather than a one-
quarter windfall: consolidated EBITDA margin has moved from 16.0% in FY25 to 20.6% in FY26 and to 23.07% in Q1 FY27, a fresh high.
The incremental revenue arriving over FY27 and FY28, WPC doors and panels, aluminium windows and façades, and premium panel
lines; sits at or above the current blended margin, which means mix continues to work in the Company’s favour as it grows.
SEGMENT — Q1 FY27 REVENUE (₹ CR) YOY SHARE OF SEGMENT RESULT SEGMENT
TURNOVER (₹ CR) MARGIN
uPVC / PVC products 61.07 +20.0% 89.2% 12.48 20.4%
Q1 FY26 comparative 50.89 — 81.5% 9.12 17.9%
Modular Furniture 7.41 — 10.8% 0.84 11.3%
Q1 FY26 comparative 11.54 — 18.5% 1.06 9.2%
Total Segment Profit before Interest — +30.8% — 13.31 —
& Tax
Segment disclosures per Annexure-I to the un-audited consolidated results for the quarter ended 30 June 2026.
PRESS RELEASE
Ratios Moving in the Right Direction
02 · Q1 FY27 VERSUS Q1 FY26
METRIC Q1 FY27 Q1 FY26 MOVEMENT FY26
EBITDA Margin 23.07% 19.90% +317 bps 20.64%
PBT Margin 17.41% 14.24% +317 bps 15.38%
PAT Margin 12.97% 10.53% +243 bps 11.40%
uPVC/PVC Products Segment Margin 20.43% 17.92% +251 bps 18.19%
Interest Coverage (EBIT / Finance Cost) 9.24x 7.33x +1.91x 8.24x
Effective Tax Rate 25.54% 26.06% −52 bps 25.89%
Earnings Per Share (₹, not annualised) 8.18 6.04 +35.4% 27.85
Credit Rating (₹35 Cr bank facilities) CRISIL BBB+ / Stable CRISIL BBB / Stable Upgraded —
Ratios are computed from the un-audited consolidated results for the quarter ended 30 June 2026 and the audited FY26 consolidated results.
Capital Expenditure
03 · GROWING CAPACITY WITHOUT ASKING SHAREHOLDERS FOR MONEY
The Board has approved a ₹100 crore multi-year capital expenditure programme spanning FY26 to FY28, covering modernization and
expansion of extrusion capacity, the new WPC doors and panel lines, and the aluminium windows and façade facility at Jaipur. Capex
is rising year on year.
Management Commentary
Q1 FY27 has set the right tone for the year, with the Company delivering its strongest-ever quarterly profitability despite the
quarter being seasonally the lightest. Revenue from operations grew 10.0% YoY to ₹68.3 crore, while EBITDA increased 27.6% YoY
to ₹15.8 crore, with EBITDA margins expanding by 320 bps to 23.1%. PAT grew 35.4% YoY to ₹8.9 crore, with PAT margins improving
by 250 bps to 13.0%. EPS stood at ₹8.18, marking each an all-time high.
Importantly, the quality of growth remains strong. The expansion in profitability was driven by an improved product mix,
premiumisation and operating efficiencies, rather than any one-off gains. Over the medium term, we expect PAT to grow at a 30%
CAGR, supported by a combination of revenue growth, improving product mix, operating leverage and a higher contribution from
our newer product categories.
Our uPVC/PVC business grew 20% and now contributes close to 90% of turnover at a segment margin of over 20%. That is the
premiumisation strategy showing up in the numbers. With an order book at an all-time high, our Windows & Glazing division
winning specification-led work with marquee developers, and WPC doors and panels going commercial this quarter, we see this
margin profile as sustainable over a multi-year horizon rather than a single good quarter.
We are also planning to increase our capital expenditure for the second consecutive year, with the planned investments focused
on expanding capacity and entering new product categories. Our ability to invest for growth while improving return ratios reflects
the underlying strength, financial discipline and scalability of our business model.
Mr. Digvijay Dhabriya · Promoter, Chairman & Managing Director, Dhabriya Polywood Limited
PRESS RELEASE
What is Building underneath the Numbers
05 · FORWARD INDICATORS FOR INVESTORS
Order book at an all-time high - ₹200 crore as on date
The largest unexecuted project business order book in the Company’s 34-year history, providing multi-quarter revenue visibility rather than quarter-
to-quarter dependence.
Fresh wins already booked into FY27
₹18.59 crore aluminium doors & windows order (July 2026), ₹15.17 crore aluminium order (June 2026) and a ₹13.05 crore modular kitchen order at
subsidiary Dynasty Modular Furniture.
Two new revenue verticals switching on
WPC doors and wall & ceiling panels launch commercially in Q2 FY27; the aluminium windows and façade division is expected to be a me
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