DCMSHRIRAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
DCM Shriram reported FY 2026 net revenue of ₹13,538 crore (+12% YoY) and PBDIT of ₹1,694 crore (+15% YoY). PAT came in at ₹856 crore (+42% YoY), boosted by a one-time deferred tax credit of ₹239 crore following the company's election of Section 115BAA of the Income Tax Act. Excluding this credit, underlying PAT growth was approximately 26%. Q4 revenue grew 11% to ₹3,193 crore, but PBDIT declined 16% to ₹262 crore due to margin pressures in Sugar & Ethanol and elevated fixed costs across businesses. Chemicals & Vinyl was the standout performer with 31% revenue growth (₹4,651 crore) and 39% PBDIT growth, driven by new capacity ramp-up and the acquisition of Hindusthan Specialty Chemicals (HSCL) for epoxy resin integration. Sugar & Ethanol faced headwinds with a 2% revenue decline and 23% Q4 PBDIT drop due to higher cane costs and lower ethanol prices. Fenesta and Shriram Farm Solutions posted strong revenue growth of 28% and 18% respectively. The company commissioned its 52,000 TPA Epichlorohydrin plant in April 2026 and completed acquisitions including HSCL (100% stake) and DNV Global (Hardware). It also sold a 50% stake in subsidiary Shriram Polytech to Teknor Apex B.V. Net debt stood at ₹1,767 crore.
DCM Shriram delivered strong full-year topline growth, though Q4 margin pressure and sugar sector headwinds may weigh on near-term sentiment. The tax credit artificially inflated PAT — investors should focus on underlying operational performance. New chemical capacities and acquisitions support long-term growth, but elevated fixed costs and margin pressure in sugar remain concerns.