Dhabriya Polywood targets 30% growth with ₹100 cr expansion plan
The company reports a record ₹174 cr order book, though a key product launch is delayed until FY27.
— 2 earlier stories on Dhabriya Polywood Ltd. →What's new
- Management targets 30% annual revenue growth.
- A ₹100 cr capex program is underway through FY28 to boost capacity in WPC and aluminum facades.
- Commercial launch of WPC doors is pushed to Q2 FY27.
Why this matters
The shift toward aggressive raw material stocking and accelerated supplier payments signals a departure from previous working capital discipline. While the record order book supports the growth narrative, the delayed product launch and increased capital intensity are the new variables to watch.
What we're watching
- Execution of the ₹100 cr capex program over the next three years.
- Whether the WPC door launch meets the new Q2 FY27 timeline.
- Impact of higher working capital levels on free cash flow.
The full read
Dhabriya Polywood is entering a heavy investment phase. Management has committed to a ₹100 crore capex program running through FY28, aimed at scaling production in higher-margin segments like aluminum facades and WPC. This follows a year where the company posted a 67% jump in annual profit and secured a record ₹174 crore order book, which management claims provides two years of revenue visibility. Despite this momentum, the company is adjusting its operational stance. It has intentionally increased working capital, stocking up on raw materials and paying suppliers faster to insulate itself from West Asian supply chain risks. Investors should note that the commercial launch of its WPC doors is now pushed to Q2 FY27. While the long-term target of 30% annual revenue growth is ambitious, the immediate test is managing this higher capital intensity without eroding cash flow.
Questions answered
- What is the scale of Dhabriya Polywood's expansion plan?
- The company plans to invest ₹100 crore in capacity expansion through FY28. This investment targets higher-margin verticals, specifically WPC and aluminum facades.
- Why did the company increase its working capital?
- Management intentionally stocked raw materials and accelerated payments to suppliers. This move aims to protect the company against supply chain disruptions caused by the crisis in West Asia.
- What is the status of the WPC door product line?
- The commercial launch is delayed. It is now scheduled for the second quarter of FY27.
- How much visibility does the current order book provide?
- The company holds a record order book of ₹174 crore. This provides approximately two years of revenue visibility.
Story so far
All notes on DHABRIYA →- 27 May 2026 · 4:41 PM IST Dhabriya Polywood targets 30% growth with ₹100 cr expansion plan
- 1d ago Dhabriya Polywood profit jumps 67% as expansion plans take shape
- 6d ago Dhabriya Polywood lands ₹10.90 cr order from Arasa, Radiance