Chemical stock jumps 5% after company to foray into Battery Energy Storage System business

Synopsys:- Shares jumped 5% after board approval to enter BESS, including a 5 GWh facility by FY27 with ₹150–200 crore investment. The move aligns with a USD 186.9 billion global BESS market, while Q2FY26 revenue rose 17% to ₹680 crore, supporting long-term clean-energy growth prospects.

The shares of the largest manufacturer of polymer compounds gained up to 5 percent in today’s trading session after the company’s board approved to foray into Battery Energy Storage System (BESS).

With a market capitalization of Rs 3,120.86 crore, the share of Ddev Plastiks Industries Ltd were trading at Rs 301.60 per share, decreasing around 0.41 percent as compared to the previous closing price of Rs 302.85 apiece.

Foray into BESS

According to the company filing, Ddev Plastiks Industries Ltd is entering the Battery Energy Storage System (BESS) segment within the renewable energy sector. The new innovation hub aims to drive breakthroughs in performance, sustainability, and cost efficiency, positioning the company for the fast-evolving energy storage market. 

Furthermore, the company plans a multi-phase BESS manufacturing program targeting utility-scale, commercial & industrial, and residential customers. Phase-1 involves setting up a 5 GWh BESS facility by FY27, with an estimated  Rs 150–200 crore capital investment, positioning the business to tap rising renewable integration and grid-stability demand.

India’s clean energy push is accelerating the need for energy storage to balance intermittent solar and wind power. The global BESS market is projected to grow from USD 56.3 billion in 2024 to USD 186.9 billion by 2030, at a 22.1% CAGR. In India alone, BESS capacity could reach 208 GWh, representing a USD 32 billion opportunity by 2030.

Financial & Other Highlights

The company delivered a steady Q2FY26 performance, with revenue rising 17% YoY to  Rs 680 crore from  Rs 580 crore. Profit growth was modest, as net profit increased 4% to  Rs 47 crore, indicating stable operations but some pressure on margins despite healthy top-line expansion.

Ddev Plastiks Industries Ltd generated  Rs 680 crore revenue in Q2FY26, with 75% from India and 25% from overseas markets. Product-wise – PE at 70% followed by PVC compounds contributed ~12%, and others at 18%. The wires and cables segment alone accounted for ~83% of revenue, underlining the company’s leadership in cable compounds and strong linkage to India’s power and infrastructure growth.

Ddev Plastiks Industries Ltd is India’s largest polymer compound manufacturer, backed by 4 decades of operations and 2,38,400 MTPA capacity across 5 plants. With 200+ products, strong credit ratings, and capacity additions underway, the company is well-positioned for sustained growth across cable, automotive, and industrial segments.

Ddev Plastiks Industries Ltd has a highly diversified customer base across domestic and export markets, providing strong revenue stability. In India, it supplies leading cable and electrical players such as Apar, Havells, KEI, Polycab, Finolex, and KEC. Globally, it serves customers across 50+ countries, including the Middle East, Europe, Africa, and Asia, reflecting deep relationships, wide acceptance of its products, and reduced customer concentration risk.

Ddev Plastiks Industries Ltd is India’s largest manufacturer of polymer compounds, serving the wires & cables, automotive, electrical, and industrial sectors. With four decades of experience, multiple state-of-the-art plants, a diversified product portfolio, and a strong domestic and export customer base, the company is well-positioned to benefit from infrastructure, electrification, and clean-energy growth trends.

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