DCM Shriram Reports Resilient FY 2026 Performance

15 May 2026 CW Team

The chemicals and vinyl businesses grew on higher utilisation and downstream integration. Caustic soda volumes rose 12 per cent and the company commissioned a 52,000 tonne per annum (t) epichlorohydrin plant at Bharuch. The acquisition of Hindusthan Speciality Chemicals accelerated entry into epoxy and formulated resins while a 50 per cent stake sale in Shriram Polytech to Teknor Apex B.V. created a strategic PVC compounding partnership.

The sugar and ethanol segment faced margin pressure from higher cane costs and oversupply, with domestic sugar prices up 4 per cent and volumes down 6 per cent. Ethanol margins remained healthy, sugar recovery improved to 10.8 per cent and crush declined to 47.3 mn quintals. Fenesta Building Systems recorded revenue of Rs 11,120 mn, up 28 per cent, and its order book grew 24 per cent to Rs 14,980 mn. Shriram Farm Solutions reported revenue of Rs 16,890 mn, an 18 per cent increase driven by strong volume growth.

Sustainability remained central, with green energy contributing 27 per cent of consumption and water harvested and conserved more than ten times the water consumed. Ongoing investments include a 68 megawatt (MW) captive renewable project at Kota with average injection of 15 MW, an additional 48 MW supply for Bharuch, and formulated resins capacity expansion. The board proposed a final dividend totalling Rs 623.8 mn and a total dividend for the year of Rs 1,746.6 mn. Management emphasised focus on value-chain integration, operational efficiencies and disciplined capital allocation.

DCM Shriram Ltd reported results for the year ended 31 March 2026, with consolidated net revenue of Rs 142,640 million (mn) and PBDIT of Rs 16,940 mn. Profit after tax rose to Rs 8,560 mn, including a one-time deferred tax credit of Rs 2,390 mn from opting for the new tax regime under section 115BAA. In the fourth quarter net revenue reached Rs 33,730 mn and PAT improved to Rs 3,710 mn. The board recommended a final dividend of 200 per cent, subject to shareholder approval. The chemicals and vinyl businesses grew on higher utilisation and downstream integration. Caustic soda volumes rose 12 per cent and the company commissioned a 52,000 tonne per annum (t) epichlorohydrin plant at Bharuch. The acquisition of Hindusthan Speciality Chemicals accelerated entry into epoxy and formulated resins while a 50 per cent stake sale in Shriram Polytech to Teknor Apex B.V. created a strategic PVC compounding partnership. The sugar and ethanol segment faced margin pressure from higher cane costs and oversupply, with domestic sugar prices up 4 per cent and volumes down 6 per cent. Ethanol margins remained healthy, sugar recovery improved to 10.8 per cent and crush declined to 47.3 mn quintals. Fenesta Building Systems recorded revenue of Rs 11,120 mn, up 28 per cent, and its order book grew 24 per cent to Rs 14,980 mn. Shriram Farm Solutions reported revenue of Rs 16,890 mn, an 18 per cent increase driven by strong volume growth. Sustainability remained central, with green energy contributing 27 per cent of consumption and water harvested and conserved more than ten times the water consumed. Ongoing investments include a 68 megawatt (MW) captive renewable project at Kota with average injection of 15 MW, an additional 48 MW supply for Bharuch, and formulated resins capacity expansion. The board proposed a final dividend totalling Rs 623.8 mn and a total dividend for the year of Rs 1,746.6 mn. Management emphasised focus on value-chain integration, operational efficiencies and disciplined capital allocation.

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