DCM Shriram Ltd.Q2 revenue +22%, PBDIT down to ₹319 Cr, PVC strong

DCM Shriram's Q2 FY27 call, held on 28 October 2026, reported net revenue of ₹3,977 crore, up 22%, but PBDIT of ₹319 crore against ₹408 crore a year earlier, which had included one-time gains of ₹76 crore in chemicals and ₹15.5 crore in sugar.

Chemicals revenue rose 47% but PBDIT fell to ₹158 crore as production costs rose 6% to 8% while prices fell 4% to 6%. Vinyl PBDIT rose to ₹51 crore from ₹12 crore on PVC volume up 29% and price up 25%, helped by a minimum import price of $766 a tonne. Sugar and ethanol PBDIT was ₹62 crore. Shriram Farm Solutions revenue fell 10% in one of the weakest monsoons in a decade and Bioseed lost ₹41 crore at PBDIT. Net debt was ₹917 crore, ROCE 12%, and a 200% interim dividend was declared.

Management announced ₹145 crore of solar power, ₹120 crore of debottlenecking and caustic expansion and a ₹133 crore compounds project, and said the demerger is at an advanced stage with a target of Q1 FY28.