Earnings Call Transcript

DCW Limited reported FY26 results with revenue of Rs.2,144 crores (up 7.2% YoY) and PAT of Rs.48 crores (up 60% YoY), despite net realizations declining across all products. C-PVC realizations corrected over 20% during the year. EBITDA grew ~11% to Rs.240 crores. The company achieved record sales volumes in C-PVC, synthetic iron oxide pigments (SIOP), and synthetic rutile. C-PVC capacity expanded from 20,000 to 50,000 tons, commissioned on time and within budget. Gross debt reduced by Rs.150 crores to Rs.276 crores, with net debt at just Rs.71 crores (net debt-to-EBITDA at 0.3x). Renewable energy project commissioned with ~25% power substitution from solar. Specialty chemicals segment EBITDA at Rs.177 crores (down 6.5%) with 30% margins, while basic chemicals EBITDA improved 1.8x to Rs.54 crores.