DHABRIYA · Dhabriya Polywood Limited · BSE · Filed 12 Aug · 2 min read

Dhabriya Polywood posts record Q1 FY27 profit as richer product mix lifts margins

The Polywood maker said a shift toward higher-value uPVC and aluminium solutions drove its highest-ever quarterly EBITDA, PAT and EPS for the quarter ended 30 June 2026.

What was filed

Dhabriya Polywood Limited released a press release under Regulation 30 of SEBI's LODR rules, carrying its un-audited consolidated results for Q1 FY27 (the quarter ended 30 June 2026). The figures were subjected to a limited review by the statutory auditors and approved by the Board on 12 August 2026. Per the filing, the quarter marked the company's highest-ever quarterly EBITDA, PAT and EPS.

Mix, not volume, is doing the work

The company frames the quarter as one of premiumisation rather than volume growth: revenue rose modestly year-on-year, but profitability climbed considerably faster on a decisive shift toward higher-value products — extruded uPVC/PVC profiles, windows and doors, panels and flooring. These, the company says, now make up close to 90% of turnover, up from 81.5% a year earlier. Management describes them as specification-led solutions increasingly chosen by architects and developers at the design stage rather than on price, which it says reduces exposure to short-term PVC resin volatility. The company states its consolidated EBITDA margin has risen from 16.0% in FY25 to 20.6% in FY26 and to a fresh high this quarter.

Order book, capex and a rating upgrade

Alongside the results, the company disclosed an all-time-high project-related order book of over ₹200 crore as on date, describing it as the largest in its 34-year history. It cited fresh wins already booked into FY27, including a ₹18.59 crore aluminium doors and windows order (July 2026), a ₹15.17 crore aluminium order (June 2026) and a ₹13.05 crore modular kitchen order at subsidiary Dynasty Modular Furniture. The company said it is executing a ₹100 crore multi-year capex programme spanning FY26 to FY28, and that CRISIL upgraded its ₹35 crore bank facilities to BBB+/Stable in July 2026. New WPC doors and panel lines are set to launch commercially in Q2 FY27.

Revenue from operations (Q1 FY26): ₹62.09 → ₹68.31 crQ1 FY26 → Q1 FY27+10%^‡
EBITDA (Q1 FY26): ₹12.36 → ₹15.76 crQ1 FY26 → Q1 FY27+28%^‡
EBITDA margin (Q1 FY26): 19.90% → 23.07%Q1 FY26 → Q1 FY27+16%^‡
Profit after tax (Q1 FY26): ₹6.54 → ₹8.86 crQ1 FY26 → Q1 FY27+35%^‡
Profit before tax (Q1 FY26): ₹8.84 → ₹11.90 crQ1 FY26 → Q1 FY27+35%^‡
EPS (Q1 FY26, not annualised): ₹6.04 → ₹8.18Q1 FY26 → Q1 FY27+35%^‡
Net margin ‡: 10.5% → 13.0%Q1 FY26 → Q1 FY27+2.4 pp

uPVC/PVC segment revenue (Q1 FY27): ₹61.07 crore
Order book: ₹200+ crore
Capex programme (FY26–FY28): ₹100 crore
Interest coverage (Q1 FY27): 9.24x
Credit rating (₹35 Cr bank facilities): CRISIL BBB+ / Stable (upgraded)

‡ Computed by us from the filing’s own figures — not a company-stated number.

For a holder, the quarter shows profitability growing faster than revenue on the back of a stated product-mix shift, alongside a rating upgrade, a rising order book and an ongoing capex programme the company says is being funded without new equity. All Q1 FY27 figures are un-audited and limited-reviewed, and the outlook statements are management disclosures, not part of the reviewed accounts.