DCM Shriram Ltd(DCMSHRIRAM)

NSE: DCMSHRIRAMBSE: 523367

₹ 969.8+0.80%refreshed 26 Oct, 01:10 pm ISTMarket cap: ₹ 15,123 crNext results: 26 Oct 2026Website: www.dcmshriram.comUpdated: 24 Oct 2026

About

DCM Shriram Ltd is an Indian diversified company. Its businesses are chloro-vinyl chemicals, sugar and ethanol, agri-inputs, urea fertiliser, Fenesta windows and doors, and Bioseed hybrid seeds. It reported revenue of Rs 14263.91 crore in FY26, and Chloro-Vinyl was its largest segment at 32.4% of revenue. It is the second largest caustic soda player in India, and Fenesta is India's largest windows and doors brand.^[1][2][3]

Business segments

Chloro-Vinyl: Rs 4650.99 cr revenue in FY26, 32.4% of revenue, EBIT Rs 559.76 cr (12.0% margin).^[2]
Sugar: Rs 4496.17 cr revenue in FY26, 31.3% of revenue, EBIT Rs 309.01 cr (6.9% margin).^[2]
Shriram Farm Solutions: Rs 1689.08 cr revenue in FY26, 11.8% of revenue, EBIT Rs 289.3 cr (17.1% margin).^[2]
Fertiliser: Rs 1444.8 cr revenue in FY26, 10.1% of revenue, EBIT Rs 90.0 cr (6.2% margin).^[2]
Fenesta Building Systems: Rs 1112.2 cr revenue in FY26, 7.8% of revenue, EBIT Rs 115.5 cr (10.4% margin).^[2]
Bioseed: Rs 665.8 cr revenue in FY26, 4.6% of revenue, EBIT Rs 49.4 cr; Others: Rs 286.41 cr revenue (2.0%), EBIT -Rs 13.66 cr.^[2]
Between FY2019 and FY2026, Others' share of revenue fell by 8.3 pp and Fertiliser's by 3.1 pp, while Shriram Farm Solutions' rose by 2.7 pp and Sugar's by 1.5 pp.^[2]
Advanced materials (the glycerine-ECH-epoxy chain) made up about 34-35% of chemicals revenue in FY26, up from about 14% at the start of FY26.^[4]

Products and brands

Agri inputs are sold under the 'Shriram' brand, hybrid seeds under 'Bioseed', and windows and doors under 'Fenesta'. Cement made from carbide sludge is sold as 'Shriram Cement'.^[3]
It is the only company in India that makes PVC resin by the calcium carbide route, and the country's oldest PVC resin maker (FY25).^[3]
Shriram Farm Solutions launched 13 new crop protection and specialty plant nutrition products in FY26, 4 of them from in-house R&D, and signed an MOU with Bayer India.^[4]
Bioseed spends about 6-8% of its revenue on research (FY25).^[3]

Operations and capacity

Caustic soda capacity as of FY25: 2225 TPD at Bharuch, the largest single-location caustic plant in India, and 524 TPD at Kota. Flakes capacity: 900 TPD at Bharuch and 230 TPD at Kota.^[3]
Chemicals and Vinyl had 344 MW of captive power across both sites, plus 44MW (peak) of captive renewable power at Bharuch (FY25).^[3]
Vinyl capacity at Kota (FY25): carbide 340 TPD and PVC 220 TPD. Kota also has a 400,000 TPA cement plant and an LNG-based urea plant with a reassessed capacity of 3,79,500 TPA.^[3]
Four sugar complexes in central UP, with 42,400 TCD of total crushing capacity: Ajbapur (13,500 TCD), Hariawan (13,000 TCD), Loni (9,400 TCD) and Rupapur (6,500 TCD). They also have 166 MW of cogeneration and 560 KLD of distillery capacity.^[3]
Fenesta has a 12,284 TPA uPVC extrusion plant at Kota and 7 fabrication units (FY25). Phase 1 of its aluminium extrusion plant was commissioned in Q2 FY27.^[3][5]
Kota has 68 MW peak of captive renewable energy through a JV with JSW Renewables, with 25 MW on average being injected as of July 2026.^[5]
HSCL, a 100% subsidiary acquired in August 2025, makes liquid epoxy resin and formulated resins. Its formulated resin capacity is 14 KTPA, being expanded to 50 KTPA.^[6]
After the AlCl3 and CaCl2 projects, management expects about 50% of Bharuch chlorine to be used captively and about 85% to be tied up, including pipeline customers.^[5]

Key operating numbers

Caustic soda: sales volume of 7,85,914 MT in FY26 (+12.0% YoY). Utilisation was 81% in FY26 vs 75% in FY25, and 82% in Q1 FY27 vs 80% in Q1 FY26. ECU realisation was Rs 35,761/MT in Q1 FY27 (+6.6% YoY).^[4][5]
PVC sales volume was 13,196 MT in Q1 FY27 (-24.6% YoY), as Chinese imports rose under a customs duty waiver. Realisation was Rs 82,764/MT (+21.7% YoY), and utilisation was 100%.^[5]
In Q1 FY27 the ECH and epoxy plants each ran at about 70% utilisation while ramping up, and the H2O2 plant at about 85%.^[5]
Sugar in FY25: 565.4 lac qtl of cane crushed at a 10.5% recovery, producing 58.6 lac qtl of sugar and 14.63 crore litres of ethanol. Sugar inventory was 20.8 lac qtl at Rs 3,907/qtl in Q1 FY27.^[3][5]
Fenesta sold 4,17,356 windows and doors in FY25. Its annual order book was Rs 1,498.5 cr in FY26 (+23.6% YoY), and its Q1 FY27 order intake was Rs 302.3 cr (+4% YoY).^[3][4]
Urea sales were 4,03,966 MT in FY25. Fertiliser subsidy owed by the government was Rs 292 cr in Q1 FY27 vs Rs 236 cr in Q1 FY26.^[3][5]
Bioseed revenue fell 26% to Rs 210 cr in Q1 FY27, and PBDIT was -Rs 9 cr vs +Rs 42 cr in Q1 FY26, after a 15-20% shortfall in Kharif sowing.^[5]

Customers and distribution

Fenesta had 380 dealers in 247 cities and 9 company-owned showrooms. It serves 975 cities in India and has a presence in 3 countries (FY25).^[3]
Shriram Farm Solutions reaches over 2 million farmers and 35000 retailers (FY25).^[3]
Bioseed operates in India and the Philippines. Philippines revenue was Rs 141 crore in FY25.^[3]

Expansion and capex

Capex guidance for FY27 is about Rs 1,000 cr. Net debt is targeted to fall by about Rs 200 cr by the end of FY27.^[5]
58 MW peak hybrid renewable project at Bharuch with Serentica Renewables: Rs 235 cr investment, targeted for Q1 FY28. Total peak renewable capacity would then be about 176 MW.^[5]
36 KTPA formulated resin expansion at HSCL: Rs 101 cr investment, taking total capacity to 50 KTPA, targeted for Q2 FY28.^[5]
Proposed acquisition of Gujarat salt works (208,000 MTPA) for about Rs 175 cr. Regulatory approvals are pending and now expected in Q3 FY27.^[5]
The Board gave in-principle approval of Rs 1000 crore for an epoxy facility and Rs 65 crore for hardware acquisitions (FY25). Projects worth about Rs 2270 crore were commissioned in FY25.^[3]

Recent developments

On 30 September 2026, a 100 TPD aluminium chloride plant and a 133 TPD calcium chloride plant at Bharuch began commercial production. Total AlCl3 capacity is now 250 TPD, and a second CaCl2 line is targeted for October 2026.^[7]
A 50% stake in Shriram Polytech was sold to Teknor Apex B.V. in April 2026, forming a polymer compounding JV. Together with a surplus land sale, this produced an exceptional item of Rs 79.4 cr in Q1 FY27.^[4][5]
The company plans to demerge Fenesta, Bioseed and Shriram Farm Solutions and aims to file the application in FY27.^[5]
The Bharuch site received World Economic Forum Lighthouse recognition in Q1 FY27, one of 9 chemical companies among 239 Lighthouses.^[5]
The Government of India imposed anti-dumping duty on liquid epoxy resin in November 2025.^[6]

Market Cap

₹15,123 Cr

High / Low

₹1,409 / 887

Stock P/E

10.5

Price / Book

1.9

Book Value

₹495

EPS

₹54.7

No. of Shares

15.59 Cr

ROCE

11.8%

ROE

11.6%

OPM

8.2%

Debt / Equity

0.36

Sales

₹14,264 Cr

Net Profit

₹856 Cr

Promoter holding

66.5%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials

DCM Shriram Ltd(DCMSHRIRAM)

About

Business segments

Products and brands

Operations and capacity

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

Product Segments

Corporate Actions