DCW Limited has informed the Exchange about Investor Presentation
DCW · price
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DCW Limited reported FY26 revenue of INR 21,436 Mn (up 7.2% YoY) with EBITDA of INR 2,216 Mn (up 14.7% YoY) and PAT of INR 482 Mn (up 60.1% YoY). EBITDA margin expanded 68 bps to 10.34%, while PAT margin improved 75 bps to 2.25%. Basic Chemicals segment recovered to 2.4% margin from breakeven previously, though Specialty Chemicals EBITDA margins contracted sharply to 29.7% from 35.3% due to falling CPVC net realizations and compressed PVC-CPVC spread. The company achieved record sales volumes in CPVC, SIOP, and Synthetic Rutile. Gross debt was reduced by INR 1,500 Mn to INR 2,758 Mn, resulting in a multi-year low Net Debt of INR 714 Mn. The company highlighted its strategic shift toward specialty chemicals (now 28% of revenue vs 0.5% in FY16), with 5-year PAT CAGR of 66% and 8% revenue CAGR. Shareholding shows promoters at 45.44%, public at 47.85%, and FPIs at 6.71%.
Margin improvement and significant debt reduction are positives, but the Specialty Chemicals margin contraction due to CPVC pricing pressure remains a concern. The multi-year deleveraging and shift toward high-value products are structural positives for long-term shareholders.