Ddev Plastiks Industries Ltd - 9M FY24 Operating Revenue of Rs. 18,340 Mn

Ddev Plastiks Industries Limited (referred to as "Ddev Plastiks" or the "Company"; BSE: 543547), one of the largest manufacturers of specialty compounds in India, has today announced the results for quarter and nine months ended December 31, 2023.

Q3 FY24 Performance Highlights

- Revenue from Operations stood at Rs. 5,535 Mn
- EBITDA stood at Rs. 630 Mn, a growth of 49.3% on YoY basis with margin of 11.3%
- PAT of Rs. 401 Mn, a growth of 75.9% on YoY basis with margin of 7.2%

9M FY24 Performance Highlights

- Revenue from Operations stood at Rs. 18,340 Mn
- EBITDA stood at Rs. 1,901 Mn, a growth of 72.4% on YoY basis with margin of 10.3%
- PAT of Rs. 1,201 Mn, a growth of 115.3% on YoY basis with margin of 6.5%

Commenting on the performance, Narrindra Suranna, Chairman and Managing Director said: "Amidst a challenging quarter characterized by notable market corrections and subdued festive season demand, we stand resilient and delivered strong performance. This accomplishment underscores our ability to adapt and thrive despite fluctuating market conditions by optimizing efficiencies and managing costs effectively.

In Q3 FY24, our domestic operations accounted for 77% of our company's revenue, with exports contributing 23%. Our steadfast commitment to enhancing global exports remains a cornerstone of our strategy to strengthen and enhance our revenue growth. We continue to prioritize customer engagement and adapt dynamically to meet their evolving needs.

As we move forward, our strategic focus remains unwavering. We are dedicated to leveraging our operational strengths, fostering innovation, and fortifying our market presence to navigate challenges effectively. Our commitment to delivering value to stakeholders remains resolute, underpinned by a relentless pursuit of excellence and unwavering integrity. We are confident in our ability to overcome challenges and unlock new avenues for growth and prosperity."

Shares of Ddev Plastiks Industries Ltd was last trading in BSE at Rs. 214.90 as compared to the previous close of Rs. 219.40. The total number of shares traded during the day was 112633 in over 1450 trades.

The stock hit an intraday high of Rs. 220.35 and intraday low of 212.00. The net turnover during the day was Rs. 24232607.00.

Source : Equity Bulls

Keywords

DdevPlastiksIndustries INE0HR601026 SpecialtyChemicals Q3FY24 9MFY24 ResultUpdate