Duroply Industries Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Duroply Industries Ltd filed with BSE on 27 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Duroply Industries reported Q4 FY26 revenue of 111.6 crores, up 5% year-on-year and 20% quarter-on-quarter, with a Profit Before Tax of 1.03 crores that included an exceptional one-time loss of about Rs. 27.5 lakh related to changes in the wages code. For the full year, revenue stood at 402.6 crores, up 8.3%, with EBITDA of Rs. 22.4 crores versus 17.9 crores last year, a 25.3% increase. Management said the second half of the year was challenging with a slowdown in growth, and discussed inflationary pressure on raw materials from geopolitical tensions affecting petrochemical-derived chemicals used in plywood manufacturing.
Numbers mentioned
Revenue: 111.6 crores (Q4 FY26)
p. 2
“Duroply closed its 4th Quarter revenue at 111.6 crores, a 5% growth over the same period last year and up by 20% from the previous quarter.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Profit Before Tax: 1.03 crores (Q4 FY26)
p. 2
“The business reported a Profit Before Tax of 1.03 crores, which includes an exceptional one-time loss of Rs. 27.5 lakh approximately on account of the changes in the wages code.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Revenue from in-house manufactured goods: 61.9 crores (Q4 FY26)
p. 2
“For the quarter, revenue from in-house manufactured goods stood at 61.9 crores, a 4% growth over the same period last year and up 2% on a quarter-on-quarter basis.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Revenue from contract manufacturing: 49.7 crores (Q4 FY26)
p. 2
“Revenue from contract manufacturing stood at 49.7 crores, up close to 6.7% on a year-on-year basis and up by nearly 50% on quarter-on-quarter basis.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Gross Margin: 34.3% (Q4 FY26)
p. 2
“Gross Margin this quarter stood at 34.3%, down from 37% in Q3 FY26, and last year, same year, the Gross Margin was a similar level of 34.9%.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
EBITDA: 5.18 crores (Q4 FY26)
p. 2
“Our EBITDA margin for the quarter stood at 5.18 crores, down from 5.4 crores in Q3 FY26 and down from 5.4 crores in Q4 FY25.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Annual Revenue: 402.6 crores (FY26)
p. 2
“The annual revenue stood at 402.6 crores, up by 8.3% in the same period.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Annual Profit Before Tax: 6.95 crores (FY26)
p. 2
“The business reported a Profit Before Tax of 6.95 crores as compared to 6.85 crores after including exceptional items.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Earnings before exceptional items: 7.23 crores (FY26)
p. 2
“Earnings before exceptional items for this year stood at 7.23 crores, as against 5.8 crores last year.”
Mr. Akhilesh Chitlangia, page 2 of the filed PDF · View the filing
Revenue from in-house manufactured goods: 224.9 crores (FY26)
p. 3
“Revenue from in-house manufactured goods stood at 224.9 crores, up by 2.3% from the same period last year, and contract manufacturing revenue stood at 177.7 crores, marking a 17% growth over the same period.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
Gross Margin: 35% (FY26)
p. 3
“Gross Margin on a 12-month basis stood at 35% as compared to 34.7% in the same period last year, and the company reported an EBITDA of Rs. 22.4 crores this year as against 17.9 crores, an increase of 25.3%.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
Days debtor: 42 days (FY26)
p. 3
“Days debtor stood at 42 days as against 47 days last year.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
Days inventory: 146 days (FY26)
p. 3
“Days inventory reduced to 146 days as against 169 days last year.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
Days payable: 72 days (FY26)
p. 3
“The days payable also substantially reduced to 72 days as against 117 days last year.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
Marketing spend: 3.2% of sales (FY26)
p. 3
“Our marketing spend stood moderated at 3.2% of sales.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
Employee expenses: 12.2% of sales (FY26)
p. 3
“Our employee expenses were inflated at 12.2% of sales this year.”
Mr. Akhilesh Chitlangia, page 3 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — double-digit growth · FY26
stated as an aspiration by Mr. Akhilesh Chitlangia
p. 6
“I think overall for the company, we are looking to returning back to double-digit growth in the coming, in this FY26 area… in the year FY26.”
Mr. Akhilesh Chitlangia, page 6 of the filed PDF · View the filing
Segment growth (premium and mid segments) — low to mid double digit growth
stated as an aspiration by Mr. Akhilesh Chitlangia
p. 7
“I think that has normalized now. And so the growth across both segments, the premium segment and the mid segment is now going to be in that range of low to mid double digit growth.”
Mr. Akhilesh Chitlangia, page 7 of the filed PDF · View the filing
EBITDA margin
stated as an aspiration by Mr. Akhilesh Chitlangia
p. 6
“But I do feel for this company, we have seen continuously the EBITDA margin increasing from a mid 3.5% to now about 5.5-5.6%. And for this company, I think the margin should continuously keep improving.”
Mr. Akhilesh Chitlangia, page 6 of the filed PDF · View the filing
Quantitative growth — 9 to 12% quantitative growth · next two years
stated conditionally by Mr. Akhilesh Chitlangia
p. 6
“Oh yeah, I think again, barring price, I think our 10 to 12% volumetric growth and whatever comes on the price side would be on top. So maybe a 9 to 12% quantitative growth is what we would be looking at for the next two years.”
Mr. Akhilesh Chitlangia, page 6 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said it has expanded the frontline sales force, is reviewing loyalty policy programs, and is targeting B2B and project sales as a new focus area, and expects a shift from unorganized to organized players due to supply chain disruptions.
Answered by Mr. Akhilesh Chitlangia
Asked by Tarun Rathi: What initiatives is the company taking for growth?
p. 4
“we have expanded the sales force, the frontline sales force to reach more and more customers across India.”
Mr. Akhilesh Chitlangia, page 4 of the filed PDF · View the filing
Management explained that chemicals used for resin are petrochemical derivatives largely imported from the Gulf, and rupee depreciation and rising freight and labour costs are creating inflationary pressure across the value chain.
Answered by Mr. Akhilesh Chitlangia
Asked by Diya: What is the impact of geopolitical tensions on the company?
p. 5
“Chemicals used for making resin for gluing the plywood together are all petrochemical in nature.”
Mr. Akhilesh Chitlangia, page 5 of the filed PDF · View the filing
Management said cost increases from March and April were passed on, partially for May, but noted resistance in the market to further price increases.
Answered by Mr. Akhilesh Chitlangia
Asked by Diya: Has the company been able to pass on cost increases in April and May?
p. 6
“For the cost increase incurred over March and April, actually, have been passed on to the consumers, partially for May, but we are now seeing a resistance in the market on the further increase in price.”
Mr. Akhilesh Chitlangia, page 6 of the filed PDF · View the filing
Management said 70% of the industry is unorganized and 30% organized, with the industry growing 6-7% annually and the organized sector growing 10-11%, while noting the industry's dependence on imported wood and petrochemical-based chemicals creates inflationary pressure.
Answered by Mr. Akhilesh Chitlangia
Asked by Vansh Sachdev: Can you give a sector overview and how the sector is expected to perform?
p. 5
“On average, the plywood industry grows at about 6- 7% per year. The organized sector is seeing a growth of 10 to 11%.”
Mr. Akhilesh Chitlangia, page 5 of the filed PDF · View the filing
Management said it hopes not, and is taking steps to control cost of goods sold, expecting margin expansion at the EBITDA level, though it is difficult to predict raw material cost impact.
Answered by Mr. Akhilesh Chitlangia
Asked by Diya: Will margins be affected in FY27?
p. 7
“I hope not, but so we are taking some steps to get our cost of goods sold under control.”
Mr. Akhilesh Chitlangia, page 7 of the filed PDF · View the filing
Management guided to 9-12% quantitative growth over the next two years, citing conservatism due to potential geopolitical tensions.
Answered by Mr. Akhilesh Chitlangia
Asked by Diya: Is there any quantitative guidance for the next 2-3 years?
p. 7
“We are being very, very conservative on this, keeping in mind that there would be more geopolitical tensions coming our way, which could affect the demand situation within the country.”
Mr. Akhilesh Chitlangia, page 7 of the filed PDF · View the filing
Risks flagged
Import dependence on Gulf-sourced petrochemical chemicals creating cost inflation
p. 4
“A large part of this was being imported from the Gulf countries. I think 40% of India's requirement was coming from the Gulf countries for these chemicals. So the cost of these chemicals are elevated.”
Mr. Akhilesh Chitlangia, page 4 of the filed PDF · View the filing
Rupee depreciation increasing raw material costs
p. 5
“The dollar has depreciated very aggressively in the last few months. So both of those have put a lot of inflationary pressure.”
Mr. Akhilesh Chitlangia, page 5 of the filed PDF · View the filing
Rising labour and construction costs due to fuel cost increases
p. 5
“Cost of labour in the country as a result is going to go up because if LPG and fuel cost goes up, I think it's the lower rung of the economy… of the society that gets impacted the most.”
Mr. Akhilesh Chitlangia, page 5 of the filed PDF · View the filing
Limited ability to pass on rising costs to consumers
p. 5
“Because we are a branded player, we believe that a large part of that cost can be passed on to the consumers, but there's only a limit to how much that can actually get passed on.”
Mr. Akhilesh Chitlangia, page 5 of the filed PDF · View the filing
Market resistance to further price increases
p. 6
“but we are now seeing a resistance in the market on the further increase in price.”
Mr. Akhilesh Chitlangia, page 6 of the filed PDF · View the filing
Ongoing geopolitical tensions affecting demand
p. 7
“I don't think anyone expected the Iran-US tension or the war in West Asia to continue for as long as it has.”
Mr. Akhilesh Chitlangia, page 7 of the filed PDF · View the filing
Slowdown in growth in second half of the year
p. 4
“Second half of the year was very challenging for us, and our growth rate saw a slowdown.”
Mr. Akhilesh Chitlangia, page 4 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.