DCM Shriram Ltd (BOM:523367)

Q1 2027 DCM Shriram Ltd Earnings Call Transcript

Jul 30, 2026 / 10:30 AM GMT

Release Date Price: ₹1054.45 (+0.06%)

Transcript

Key Points

Positve

DCM Shriram Ltd (BOM:523367) reported a 9% year-on-year increase in net revenues and a 12% increase in PBDIT for Q1 FY27, demonstrating resilience despite a challenging environment.
The chemicals business delivered robust 33% year-on-year revenue growth, driven by improved ECU prices and strong contributions from the advanced materials portfolio (glycerine to ECH to epoxy).
The vinyl business saw PBDIT improve by 88% year-on-year, supported by higher PVC and carbide realizations, with capacity utilization at 100%.
The company secured a one-time tax adjustment of Rs. 474 crores, which will reduce its effective cash tax rate to approximately 19% for the next 5-10 years, improving future cash flows.
DCM Shriram Ltd (BOM:523367) is advancing its strategic growth initiatives, including signing an agreement for 58 MW of hybrid renewable energy, which will increase its total renewable capacity to around 176 MW and enhance long-term cost competitiveness.
The company's Bharuch chemical complex received 'Lighthouse' recognition from the World Economic Forum, highlighting its leadership in digital transformation and operational efficiency.

Negative

The bioseed business was severely impacted by delayed and deficient monsoons, leading to a 26% revenue decline and a swing to a negative PBDIT of Rs. 9 crores from a positive Rs. 42 crores last year.
The global caustic soda industry remains challenging due to excess capacities in China, which continues to weigh on international chemical pricing and input costs.
The PVC market faced headwinds from a surge in imports following a temporary waiver of basic customs duty, which weighed on domestic sales and realizations, with demand expected to remain soft in Q2 FY27.
The fertilizer business saw PBDIT decline to Rs. 23 crores from Rs. 38 crores last year, impacted by a sharp increase in natural gas prices due to the West Asia conflict and higher subsidy outstanding.
The sugar and ethanol segment experienced a 2% revenue decline, with domestic sugar volumes falling 8% and ethanol prices down 4% due to a change in sales mix.
The company's net debt increased to Rs. 1,649 crores from Rs. 1,481 crores year-on-year, driven by acquisitions and capital expenditure, with debt levels expected to remain elevated through the year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DCMS.NS - DCM Shriram Ltd
Q1 2027 DCM Shriram Ltd Earnings Call
Jul 30, 2026 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the BCM Sriram Limited Q1 FY27 earnings conference call.

As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the call, please signal an operator by pressing star then zero on your touch tone phone.

I now hand the conference over to Mr. Siddharth Rangnekar from CDR India.

Thank you and over to you, sir.

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Unidentified_2 [2]
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Thank you, Rayo.

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