Earnings Call Transcript
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Duroply reported Q4 FY25 revenue of Rs. 106.35 crores, up 25.9% year-on-year, crossing the Rs. 100 crore quarterly mark for the first time. Full-year FY25 revenue grew 15% to Rs. 371.8 crores, with adjusted profit before tax rising sharply to Rs. 5.81 crores from Rs. 1.01 crores in FY24. Gross margins improved to 34.7% for the year (from 33.7%), and EBITDA margin expanded to 4.8% (from 4%). The company also announced the promotion of Vijay Kumar Yadav to CFO. Management credited sales team expansion, better raw material costs, and improved product mix for the turnaround, while highlighting new BIS/QCO quality norms as a positive for organised players like Duroply.
Management guided for high-teens revenue growth and EBITDA margin expansion to 8-9.5% over the next two years, signalling continued operating leverage. Shareholders can expect improving profitability as marketing and employee cost pressures normalise, though inventory days remain elevated at 165 due to BIS/QCO-related stocking.