Ddev Plastiks Industries announced that its board has approved the proposal to venture into the Battery Energy Storage System (BESS) business, marking its expansion into the renewable energy sector.
The company proposes to launch a multi-phase BESS manufacturing program aimed at catering to utilities, commercial & industrial, and residential segments. As part of Phase 1, the company will establish a 5 GWh BESS manufacturing facility by FY 2026-27, with an initial capital outlay of approximately Rs 150-200 crore. The new segment is expected to contribute to the companys revenues starting from the second half of FY 2026-27.A key feature of this initiative will be the development of a state-of-the-art research & development (R&D) centre, focused on advanced battery technologies and innovative energy storage solutions to strengthen the companys technological capabilities and market positioning.
According to Globe Newswire, the global BESS market is estimated to grow from $56.29 billion in 2024 to $ 68.70 billion in 2025 and is projected to reach $186.90 billion by 2030, registering a CAGR of 22.13%. In India, BESS capacity could reach 208 GWh with an estimated market value of $32 billion by 2030.
Ddev Plastiks Industries houses the polymer compounding business of the Kkalpana group. The company is engaged in the manufacture of Polyvinyl Chloride (PVC) and Polyethylene (PE) compounds, along with other engineered plastic products such as polycarbonate and polypropylene compounds.
The companys standalone net profit increased 5.3% to Rs 47.11 crore in Q2 FY26, compared with Rs 44.72 crore in Q2 FY24. Net sales jumped 17.2% YoY to Rs 680.15 crore in Q2 FY26.
The counter shed 0.13% to end at Rs 302.45 on the BSE.
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