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Dhunseri Poly Films Pvt Ltd (DPFPL), a wholly owned subsidiary of Dhunseri Ventures Ltd and part of the Dhunseri Group, has outlined a Rs 2,240 crore investment plan to expand its packaging film manufacturing capacity at its existing units in West Bengal and Jammu & Kashmir (J&K). The company plans to establish a greenfield project in Kathua, J&K, while its West Bengal facility will undergo a brownfield expansion at the current site. Both plants are expected to begin commercial production in the financial year 2028-29.
A Dhunseri Ventures Ltd note, submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on June 9, 2025, and signed by C. K. Dhanuka, Executive Chairman, states, “This is to inform that the company’s wholly owned subsidiary, Dhunseri Poly Films Pvt Ltd (DPFPL), has laid the foundation stone for its BOPP plants. The ceremony was officiated by His Excellency, the Lieutenant Governor of J&K, at Kathua, Jammu, on June 8, 2025. The event was attended by various government officials, bankers, major suppliers, customers, and local residents. This marks a pivotal milestone in the subsidiary’s ongoing efforts to expand its manufacturing footprint.”
Kathua project
Reports indicate that DPFPL plans to establish a Biaxially Oriented Polypropylene (BOPP) manufacturing plant in Kathua, J&K, as a greenfield project with an investment of Rs 1,240 crore. The company aims to install two BOPP lines at the Kathua facility and targets commercial production by FY 2026-27. DPFPL caters to the domestic market while also exporting to Europe, Bangladesh, and Nepal, which are its key overseas markets.
However, it remains unclear whether the company will fund this project through internal sources or a debt-equity mix. The company could not be reached for comments. BOPP is a versatile plastic film valued for its strength, clarity, and excellent barrier properties. It is widely used in packaging, labelling, and lamination due to its ability to be stretched in two directions, significantly enhancing its physical characteristics.
Panagarh site
Dhunseri Ventures Ltd has earmarked Rs 1,000 crore for a brownfield expansion project at Panagarh Industrial Park in the Bardhaman district of West Bengal, located 150 km from Kolkata. The company already operates a facility at this site and now plans to set up two additional production lines: one for BOPET (Biaxially Oriented Polyethylene Terephthalate) and another for BOPP (Biaxially Oriented Polypropylene). These new lines are expected to commence commercial production by FY 2028-29.
Reports quoted C. K. Dhanuka, Executive Chairman of Dhunseri Ventures Ltd, stating, “The Panagarh expansion proposal will be tabled at the next board meeting for approval. The capital expenditure is expected to be funded through a debt-equity ratio of 70:30.” The existing production line at Panagarh became operational in 2024, and the proposed expansion will be located within the same industrial park.
Cumulative capacity
With the addition of the new lines at Panagarh and the proposed facility in Jammu, DPFPL’s installed capacity is expected to reach approximately 120,000 tonnes for BOPET films and 210,000 tonnes for BOPP films by 2029. Currently, the company has an installed production capacity of approximately 51,000 tonnes of BOPET films at Panagarh.
The Dhunseri Group also has business interests in the downstream petrochemical and tea sectors. Reports indicate that the company holds a 50:50 joint venture with the Indorama Group for polyethylene terephthalate (PET) manufacturing in India (at Haldia and Karnal) and Egypt.
Profit declines
Dhunseri Ventures Ltd reported a significant 64% decline in its standalone net profit to Rs 60.81 crore for FY 2024-25, compared to Rs 166.80 crore in the previous year. The consolidated net profit of the company stood at Rs 142.97 crore for FY 2024-25, down from Rs 152.10 crore in the prior year.
According to the financial report submitted to stock exchanges, Dhunseri Ventures recorded a substantial drop in total standalone income, which declined to Rs 399.84 crore for FY 2024-25 from Rs 501.55 crore in the previous year. Standalone revenue from operations fell to Rs 293.31 crore in FY 2024-25, compared to Rs 349.54 crore in the previous year, while other income declined sharply to Rs 106.53 crore from Rs 152 crore. However, the total consolidated turnover of the company rose to Rs 583.97 crore in FY 2024-25, up from Rs 479.79 crore in the previous year.
The company incurred a standalone net loss of Rs 87.13 crore in the January-March 2025 quarter, compared to a net profit of Rs 16.35 crore in the same quarter of the previous year and a profit of Rs 44.50 crore in the October-December 2024 quarter. On a consolidated basis, the company reported a net loss of Rs 87.43 crore for the January-March 2025 quarter, against a profit of Rs 24.04 crore in the corresponding quarter of the previous year and Rs 92.95 crore in the October-December 2024 quarter.
DILIP KUMAR JHA
Editor
dilip.jha@polymerupdate.com
