DDev Plastiks Industries Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

DDev Plastiks Industries Ltd trades at ₹288, in a downtrend and 26 weeks into that stage. That is +7.0% against its own 200-day average. It sits at 57% of a 52-week range of ₹205 to ₹350. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 8 straight weeks.

Today the stock is in a downtrend — week 26 of stage 4, confirmed. At ₹288 it trades +7.0% versus its 200-day average and sits at 57% of its 52-week range (₹205–₹350).

Against the market, two honest reads. Cumulative: over the last 4.0 years the stock moved +722% while the NIFTY 500 moved +57% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 8 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 33rd percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

DDev Plastiks Industries Ltd trades at 14.1× P/E, near the bottom of its own range — cheaper only 33% of the time. Its long-run median P/E is 15.2×, measured across 3.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 14.1× is near the bottom of its own range — cheaper only 33% of the time, against a long-run median of 15.2× measured over 3.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +8.8% against a −10.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 3y, of the +14.5%/yr price move, ~+24.7%/yr came from earnings growth and ~−10.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

DDev Plastiks Industries Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 31.6% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

54.2/100 — rank 3 of 7 in Plastics - Plastic & Plastic Products · 94% evidence confidence

DDev Plastiks Industries Ltd scores 54.2 out of 100 against the 7 companies it is compared with in Plastics - Plastic & Plastic Products, ranking 3. Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

The four contributions add to the total exactly: 15.7 + 15.7 + 16.8 + 6 = 54.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

DDev Plastiks Industries Ltd reported ₹766 Cr of revenue in the Mar 26 quarter, +3.9% year on year. That is the 6th straight quarter of year-on-year growth. The last full year, FY26, came in at ₹2,948 Cr. The last four reported quarters add to ₹2,948 Cr.

DDev Plastiks Industries Ltd reported ₹766 Cr of revenue in the Mar 26 quarter, +3.9% year on year. That is the 6th straight quarter of year-on-year growth. The last full year, FY26, came in at ₹2,948 Cr. The last four reported quarters add to ₹2,948 Cr.

FY26 revenue came in at ₹2,948 Cr (+13.3% on the year). The latest quarter (Mar 26) printed ₹766 Cr, +3.9% year on year — the 6th consecutive quarter of year-over-year growth.

Acceleration check: trailing-twelve-month revenue grew +13.3% over the last 4 quarters against +10.1%/yr over the last 8 — accelerating; TTM profit +8.6% vs +5.4%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 10.0% this quarter (+0.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

DDev Plastiks Industries Ltd's operating margin is 10.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 5.0% to 11.0%. The current quarter sits inside that band.

DDev Plastiks Industries Ltd's operating margin is 10.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 5.0% to 11.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 10.0%, +0.0 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 5.0%–11.0%.

🚨 Why the margin moved: operating margin went −0.7 pp year on year while gross margin went +2.5 pp — the loss came mostly from the gross line: input costs and pricing.

→ Margins held — did that reach the bottom line? Next: profit +5.8% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

DDev Plastiks Industries Ltd earned ₹55.0 Cr of net profit in the Mar 26 quarter, +5.8% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹202 Cr. That is 7.2% of the quarter's revenue. The same quarter a year earlier earned ₹52.0 Cr.

DDev Plastiks Industries Ltd earned ₹55.0 Cr of net profit in the Mar 26 quarter, +5.8% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹202 Cr. That is 7.2% of the quarter's revenue. The same quarter a year earlier earned ₹52.0 Cr.

Mar 26 profit was ₹55.0 Cr, +5.8% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹202 Cr (+8.6%).

Why profit moved: revenue contributed +3.9% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +9.0% vs revenue +13.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 59% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 59% of DDev Plastiks Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹85.0 Cr of operating cash against ₹202 Cr of profit. After ₹96.0 Cr of capital spending, ₹−11.0 Cr was left as free cash.

FY26: operating cash of ₹85.0 Cr against reported profit of ₹202 Cr, leaving free cash of ₹−11.0 Cr after ₹96.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 59% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at 59%: the cash cycle stretched 42 days between FY22 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 42 days — the next section's job is to find where the cash is stuck.

→ So follow the cash to where it goes. Next: the 85-day cycle, in money terms.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

DDev Plastiks Industries Ltd's cash conversion cycle runs 85 days in FY26, up from 43 days in FY22. Capital spending ran ₹175 Cr over the last 3 years. At FY26 sales of ₹2,948 Cr each day of that cycle holds about ₹8.1 Cr, so roughly ₹687 Cr sits inside the business at any moment.

FY26: debtors at 69 days, inventory at 59 days — roughly 1.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 85 days, looser than FY22's 43.

The full loop: cash goes out to suppliers and production on day 0; stock waits 59 days to sell; customers pay about 69 days after that; and suppliers themselves are paid at 43 days — netting out to the 85-day cycle.

In money terms: at FY26 sales of ₹2,948 Cr, each day of the cycle holds about ₹8.1 Cr — so the 85-day loop keeps roughly ₹687 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹175 Cr over the last 3 fiscal years against ₹47.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹50.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 31% and the ROIC − WACC spread is +9.3 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

DDev Plastiks Industries Ltd earns a ROCE of 31% in FY26. Return on invested capital clears the cost of that capital by +9.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 6.9% net margin on 2.04× asset turns.

FY26 ROCE is 31%.

Why the return is what it is — the wiring (FY26): 6.9% net margin × 2.04× asset turns × 1.43× balance-sheet leverage ≈ 20.1% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 21.3% − 12.0% = a +9.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.06.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

DDev Plastiks Industries Ltd carries total debt of ₹57.0 Cr against shareholder equity of ₹1,013 Cr as of Mar 26, a debt-to-equity of 0.06 — effectively unlevered. On the annual view that ratio went from 0.33 in FY22 to 0.06 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹57.0 Cr against shareholder equity of ₹1,013 Cr — a debt-to-equity of 0.06. On the annual view, debt-to-equity went from 0.33 (FY22) to 0.06 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: Foreign institutions added 1.4 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions added 1.4 points of DDev Plastiks Industries Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 1.5% of the company. Domestic institutions moved −0.2 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +1.4 points over 8 quarters to 1.5%; Domestic institutions: −0.2 points over 8 quarters to 0.1%; Promoters: +0.0 points over 8 quarters to 75.0%.

Why the register moved: foreign institutions drove it (+1.4 points) — steady accumulation by institutions reading the same numbers this page reads.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

DDev Plastiks Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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