Q2 2026 DCW Ltd Earnings Call Transcript

Nov 5, 2025 / 10:30 AM GMT

Release Date Price: ₹67.78

Transcript

Key Points

Positve

DCW Ltd (BOM:500117) achieved an 8.5% growth in EBITDA over the last quarter and a 51% increase year-on-year.
The company successfully expanded its CPVC capacity from 20,000 tons to 40,000 tons ahead of schedule, reaching full utilization within the quarter.
DCW Ltd's specialty chemical segment, particularly CPVC, marked its highest ever sales volumes, demonstrating strong customer acceptance.
The company's synthetic iron oxide pigment business remained stable, unaffected by industry price volatility, with steady volumes and realizations.
DCW Ltd reduced its long-term debt by 70 crores in the first half of the year, aiming for a net debt to EBITDA ratio below 0.5x by the fiscal year-end.

Negative

The global chemical sector faced challenges with weak pricing and uneven demand recovery, impacting DCW Ltd's margins.
There was a significant price erosion of over 15% in CPVC due to higher import competition and market-led pricing corrections.
The basic chemical segment, including caustic soda, soda ash, and PVC, experienced a weak operating environment with depressed realizations due to Chinese imports.
The company faced aggressive dumping in the Indian market, particularly in PVC and soda ash, affecting domestic producers' realization environment.
Despite the expansion, the specialty segment's revenue remained flat due to steep price corrections in CPVC.

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

DCWL.NS - DCW Ltd
Q2 2026 DCW Ltd Earnings Call
Nov 05, 2025 / 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 Q2 and H1F526 earnings conference call of DCW Limited, hosted by Valoram Advisors. As a reminder, all participant lines will be in the less only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone.

Please note that this conference is being recorded.

I now hand the conference over to Ms. Pourangi Jan from Valoram Advisors.

Thank you and over to you, ma'am.

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Unidentified_2 [2]
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