Dhabriya Polywood bags ₹18.59 cr order for aluminum doors and windows
The order equals about 7% of annual revenue and adds to a record order book of ₹174 cr. Client identity withheld for competitive reasons.
— 7 earlier stories on Dhabriya Polywood Ltd. →What's new
- Dhabriya Polywood received a ₹18.59 cr work order for aluminum doors and windows.
- The client is an undisclosed Indian company; completion target is 11.4 months.
- Order is a letter of intent, implying some execution risk.
Why this matters
For a company with ₹264.5 cr in annual revenue, a single order of this size provides near-term visibility. It also reinforces the 30% revenue growth target the company guided in May, backed by a record ₹174 cr order book. But the LOI structure means the deal isn't fully binding yet.
What we're watching
- Whether the LOI converts into a firm contract with advance payment.
- Any additional client wins in the aluminum segment this quarter.
- Revenue recognition pace over the next two quarters.
The full read
Dhabriya Polywood keeps rolling. The building-materials maker has snagged another order, this time worth ₹18.59 crore for aluminum doors and windows. That's about 7% of trailing revenue, adding to a record order book of ₹174 crore that management said in May supports 30% annual growth. The client – an unnamed Indian company – is paying for the job over 11.4 months, so the cash should hit the books next fiscal. The catch: it's a letter of intent, not a signed contract. That's a nuance, not a red flag – most such LOIs convert – but it means the ink isn't dry. For a company already guiding strong and backed by a ₹420 cr market cap, this order is more confirmation than surprise. The question now is whether the flow continues.
Questions answered
- How big is this order relative to Dhabriya's business?
- The ₹18.59 crore order represents roughly 7% of the company's annual revenue of ₹264.5 crore. It's a meaningful addition to the ₹174 crore order book reported in May.
- Why isn't the client named?
- Dhabriya cited competitive sensitivity for withholding the client's identity. This is common in project-based businesses where disclosing the counterparty could reveal pricing or strategy.
- What is the execution timeline and how will it affect financials?
- The order is scheduled for completion within 11.4 months, executed in tranches. Most revenue should be recognized within the next fiscal year, providing clear near-term income visibility.
- Is there any risk the order doesn't materialize?
- Yes. The order is described as a letter of intent (LOI), not a firm contract. While LOIs are generally honoured, they carry higher execution risk than a confirmed order. Investors should watch for formal contract conversion.
Dhabriya Polywood Ltd.
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All notes on DHABRIYA →- 20 Jul 2026 · 2:25 PM IST Dhabriya Polywood bags ₹18.59 cr order for aluminum doors and windows
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