Dhabriya targets 30% annual growth and is spending ₹100 cr to get there.
The company’s ₹174 crore order book gives it two years of visibility, but the WPC door launch is delayed and working capital is rising.
— 6 earlier stories on Dhabriya Polywood Ltd. →What's new
- Management set a 30% annual revenue growth target through FY28.
- WPC door launch pushed from Q1 to Q2 FY27.
- Working capital rose as the company stocked materials against West Asia supply risks.
Why this matters
The guidance is aggressive for a nano-cap. The order book provides the runway, but the delay in a key new product and the deliberate build-up of inventory and supplier payments tie up cash and add execution risk to an otherwise confident outlook.
What we're watching
- Execution on the ₹100 cr capex plan for higher-margin verticals like WPC and aluminum facades.
- Whether the Q2 FY27 WPC door launch stays on track.
- Working capital levels relative to the inventory stockpile.
The full read
Dhabriya Polywood is guiding for 30% annual revenue growth through FY28, backed by a record ₹174 crore order book that gives it roughly two years of visibility. The growth plan involves a ₹100 crore capex program to expand into higher-margin verticals like WPC and aluminum facades. But two things complicate the narrative. First, the launch of its commercial WPC doors has slipped from Q1 to Q2 of FY27. Second, the company has deliberately tied up more cash, stocking raw materials and paying suppliers early to hedge against supply chain disruptions from West Asia. The guidance is ambitious. The execution now has to keep pace.
Questions answered
- What is the company's long-term growth target?
- Management outlined a 30% revenue CAGR target through FY28. This is supported by a record order book of ₹174 crore.
- Why is working capital rising?
- The company intentionally increased raw material inventory and accelerated supplier payments. This was a proactive move to protect against potential supply chain disruptions stemming from the West Asia crisis.
- What happened to the WPC door launch?
- The commercial launch has been delayed by one quarter, from Q1 FY27 to Q2 FY27. The filing gives no specific reason for the postponement.
- What is the ₹100 crore for?
- It is a capex program through FY28 aimed at expanding capacity for higher-margin product verticals like WPC and aluminum facades.
Dhabriya Polywood Ltd.
Latest quarter · Dec 2025
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All notes on DHABRIYA →- 27 May 2026 · 4:41 PM IST Dhabriya targets 30% annual growth and is spending ₹100 cr to get there.
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