Transcript of the Earnings Webinar held with respect to the Unaudited Financial Results for the quarter and nine months ended December 31, 2025
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Duroply Industries reported Q3 FY26 revenue of ₹93.05 crores, up 3.6% year-on-year but down 11% sequentially, with profit before tax of ₹1.37 crores (up 13.7% YoY). In-house manufacturing revenue grew 11.6% YoY to ₹60.7 crores, while contract manufacturing fell 8.7% YoY to ₹32.3 crores. Gross margin improved to 37.1% from 34.2% YoY, and EBITDA margin stood at 5.8% versus 4.9% in the same quarter last year, though down from 6.2% in Q2 FY26. For the nine months, revenue grew 9.6% to ₹291 crores with profit rising to ₹5.92 crores from ₹3.6 crores. Management attributed the sequential weakness to environmental and construction restrictions in Delhi NCR, which is its core market. Management guided EBITDA margins to land between 6% and 6.5% for FY26 (slightly below earlier 6.5% target) and expects the in-house to out-house revenue mix to improve to 65:35 in the next financial year.
Marginal sequential decline in revenue and EBITDA may cause short-term pressure on the stock, but improving gross margins and better in-house mix point to gradual profitability gains. Investors should watch Q4 FY26 execution and whether the 6-6.5% EBITDA margin guidance holds.