DDev Plastiks Industries, a leading polymer compound manufacturer, is targeting revenue between Rs 4,500 crore and Rs 5,000 crore by 2030. The company’s confidence stems from the growth of the cable business and the demand for renewable energy in the country, according to Narrindra Suranna, Chairman and Managing Director (CMD), Ddev Plastiks Industries.
“We aim to achieve around Rs 4,500 crore to Rs 5,000 crore of turnover by 2030 from compounded business only. At the same time, we are looking for some diversification in related areas. By 2025 last quarter, we will be an absolutely debt-free company,” he said during a conversation with NDTV Profit.
The company’s growth strategy is directly tied to the burgeoning cable industry. This is further being fuelled by India’s massive push for the adoption of renewable energy, Suranna said.
“Mainly, we are making polymer compounds for the cable industry. The growth of the cable industry is projected at a 15% CAGR, which is almost two times our country’s GDP. Everybody is absolutely bullish about this renewable energy. But one thing is common, that is cable. You will be requiring different kinds of cables,” he underlined.
The CMD noted that the company has developed products that were previously imported. “And there are a few compounds which we have developed in our in-house R&D, actually, which only we are manufacturing across the globe.”
