DCM Shriram Limited — Investor Meet, 06-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

DCM Shriram delivered strong Q2 FY26 results with revenues up 11% YoY to INR 3,272 Cr and PBDIT jumping 74% to INR 408 Cr. H1 FY26 mirrored this, showing 12% revenue growth to INR 6,534 Cr and 44% PBDIT rise to INR 734 Cr. Net debt declined to INR 773 Cr.

The company is strategically integrating operations for agility and sustainability. Key updates include commissioning the Epichlorohydrin (ECH) plant, acquiring Hindusthan Speciality Chemicals, and a proposed INR 175 Cr Salt Works acquisition for backward integration. Management expects HSCL to breakeven by year-end.

In chemicals, chlorine integration is a focus, projected to reach 75% (captive + pipeline) in two quarters. Farm Solutions saw strong Q2 partly from strategic pre-sales, with new products contributing 20% of revenue. PVC anti-dumping duty decision is awaited, while sugar business seeks policy support for exports and pricing stability due to rising sugarcane costs.

Management expresses optimism for continued healthy and stable growth, driven by innovation and strategic value chain capture.