DCW Limited — PPTs, 13-08-2026: Investor Presentation

Here's a concise summary for DCW Ltd. for Q1-FY27:

1. **Business Performance:** DCW posted Q1 revenue of 541.9 Cr, up 14% YoY, fueled by a strong 38% growth in Specialty Chemicals and 5% in Basic Chemicals. However, EBITDA declined 33.3% to 35.8 Cr, primarily due to global VCM availability issues, higher prices, and temporary suspension of PVC import duties impacting margins.

2. **Growth Drivers or Strategy:** The company continues its strategic shift towards high-margin Specialty Chemicals, leveraging recent capacity expansions. Upcoming capex of 250 Cr over 2-3 years targets a 15,000 MT SIOP expansion and power plant efficiency improvements to boost future growth and reduce costs.

3. **Recent Developments:** DCW successfully ramped up its newly commissioned 10,000 MT CPVC capacity, increasing total capacity to 50,000 MT. Renewable power investments now meet 20% of total consumption, leading to lower power costs.

4. **Key Financial Metrics:** Despite EBITDA pressure, Profit After Tax (PAT) surged 202.6% YoY to 34.5 Cr, translating to a Diluted EPS of ₹1.17. EBITDA margins stood at 6.61%. Net debt metrics remain strong, with net debt to equity at 0.07.

5. **Management Commentary / Outlook:** Management highlighted robust CPVC operational ramp-up and the cost benefits from solar energy. They are optimistic about reducing net leverage, aiming to be net cash positive by FY27 (before new growth investments), and are actively pursuing the next phase of strategic growth through planned capex.