NSE: ADL · BSE: 543231
ARCHIDPLY DECOR LIMITED
Operates in the consumer durables segment making plywood boards and laminates, with FY26 revenue of Rs. 46.33 crore. Revenue from operations fell to Rs. 4,633.23 lakhs in FY26 from Rs. 5,248.15 lakhs in FY25, an 11.7% decline. Net profit was marginal at Rs. 0.20 lakhs, down from Rs. 5.65 lakhs the prior year. Materials account for the largest cost line at 38.9% of revenue, followed by other operating expenses (14.3%) and employee costs (12.1%); depreciation was 3.3% and capex was 0.3% of revenue. The statutory auditor highlighted collection risk, noting Rs. 471.83 lakhs in debtors outstanding for more than one year (against Rs. 4.49 lakhs provisioned) and Rs. 90.06 lakhs in supply advances pending for over three years. The company generated Rs. 244.76 lakhs in operating cash flow and recorded a Rs. 15.97 lakhs exceptional item for impact of new Labour Codes. The pack does not detail specific product lines, plant count, capacity, or customer base. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plywood boards and laminates. Small consumer durables maker in plywood and laminates with material-heavy cost structure and low capex intensity (0.3% of revenue)
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 42 | 50 | 47 | 52 | 46 |
| EBITDA (ex other income) | 2 | 3 | 3 | 3 | 2 |
| margin % | 5.5 | 5.7 | 7.3 | 5.6 | 4.0 |
| Owners' profit | 0 | 1 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.35 | 1.31 | 0.05 | 0.10 | 0.00 |
| ROE % · ROCE % | 0.4 · 4.2 | 1.4 · 5.3 | 0.1 · 5.2 | 0.1 · 4.3 | 0.0 · 3.4 |
| Debt / equity (x) | 0.34 | 0.31 | 0.42 | 0.39 | 0.35 |
| Cash from operations | 2 | 3 | (1) | 2 | 2 |
| Capex | (0) | (1) | (2) | (1) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14 | 12 | 14 | 11 | 13 | 11 | 12 | 11 |
| Profit before tax | 0 | 0 | (0) | (0) | 0 | 0 | (0) | (0) |
| Net profit | 0 | 0 | (0) | (0) | 0 | 0 | (0) | (0) |
| EPS (₹) | 0.48 | 0.02 | (0.01) | (0.26) | 0.25 | 0.04 | (0.04) | (0.45) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CENTURY PLYBOARDS (I) LTD | 14,264 | 49.0 | 5.42 | 24.4 | 10.2 | 11.0 | 20.4 | 12.7 |
| STYLAM INDUSTRIES LIMITED | 5,335 | 30.6 | 5.95 | 24.0 | 10.1 | 13.0 | 18.9 | 16.8 |
| GREENLAM INDUSTRIES LTD. | 5,193 | 55.8 | 4.40 | 19.0 | 4.8 | 4.5 | 20.5 | 10.0 |
| GREENPLY INDUSTRIES LTD | 3,314 | 26.4 | 3.42 | 14.0 | 8.3 | 8.5 | 18.6 | 11.2 |
| GREENPANEL INDUSTRIES LTD | 1,735 | 12.2 | 1.32 | 8.0 | 10.8 | 10.9 | — | 12.9 |
| RUSHIL DECOR LIMITED | 568 | 20.6 | 0.86 | 11.8 | 1.8 | 1.6 | — | 9.6 |
| ARCHIDPLY IND. LTD | 185 | 11.1 | 1.49 | 8.6 | 9.6 | 7.6 | — | 5.7 |
| ECOBOARD INDUSTRIES LTD. | 157 | — | 6.95 | — | (44.7) | (43.3) | — | (26.2) |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.8 | 3.0 | 2 of 13 | 92% |
| ROCE | (0.0) | 4.5 | 11 of 13 | 17% |
| ROE | 0.0 | 4.8 | 11 of 13 | 17% |
| Debt / Equity | 0.3 | 0.4 | 6 of 13 | 58% |
| EBITDA margin | (0.2) | 7.2 | 10 of 13 | 25% |
| Revenue growth | (0.1) | 16.1 | 10 of 13 | 25% |
| Profit growth | (72.9) | 3.8 | 12 of 13 | 8% |
| Market cap | 41 | 185 | 12 of 13 | 8% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 29 Oct 2026 · RTA confirms share conversion records for September 2026 quarter | compliance | minimal | — | — |
| 6 Oct 2026 · CFO Mr. Raju Ram Prajapat resigns effective 24 Nov 2026 | management changes | high | — | — |
| 30 Sept 2026 · 9th AGM voting results: both resolutions passed with 99.92% approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 9th AGM held on Sept 30, 2026; accounts adopted, Director re-appointed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 to Nov 16 for Q2 results | compliance | minimal | — | — |
| 9 Sept 2026 · Independent Director resigns citing health reasons | management changes | medium | — | — |
| 4 Sept 2026 · Archidply Decor - Notice of AGM, E-Voting and Book Closure Published | compliance | minimal | — | — |
| 3 Sept 2026 · AGM on 30 Sep 2026, book closure 23-30 Sep, e-voting from 27 Sep | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Archidply Decor files Annual Report for FY 2025-26; revenue declines 12% | investor communications | medium | — | — |
| 3 Sept 2026 · 9th AGM notice on 30 Sep 2026; e-voting from 27 to 29 Sep 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.