Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q3 FY2026 Earnings Presentation
29 slides from Dcm Shriram's earnings presentation, Jan 20, 2026
Slide 1: DCM Shriram Limited Results Presentation Q3 FY 2026
DCM Shriram Limited Results Presentation Q3 FY 2026 Jan 20, 2026
Slide 2: Safe Harbour
Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could Safe cause our actual results to diffe
Slide 3: Table of Contents
Table of Contents 01 DCM Shriram Q3 & 9M FY 2026 Segment wise Overview Results Performance Q3 FY 2026 • Overview 4 • Financial Snapshot 7 • Chemicals & Vinyl 15-19 • Our Businesses 5 • Revenue & PBDIT Drivers 8 • Sugar & Ethanol 20-22 • Management Message 6 • Segment Results 9 • Fenesta Building Sys
Slide 4: Overview – DCM Shriram Limited
Overview – DCM Shriram Limited KEY NUMBERS FOR FY 2024-25 12 Locations Net Revenue ₹120.8 bn PBDIT ₹14.7 bn Agri Rural ( 6 1 %) 6 2 5 5 Total Employees (Sugar & Ethanol, Shriram Farm PAT ₹6.0 bn Solutions, Bioseed, Fertilizer) Chemicals & Vinyl (29%) Net Worth ₹69.6 bn 35% Total Energy is Green . 10
Slide 5: Our Businesses – Existing Facilities
Our Businesses – Existing Facilities Chemicals Building Agri & Vinyl Material Businesses Products Businesses Fenesta Building Caustic Soda Sugar Systems (2,749 TPD) (42,400 TCD) (12,284 TPA) Hydrogen Peroxide Co-Gen (165 TPD) (166 MW) Other Epichlorohydrin Distillery . Businesses (52,000TPA***) (310
Slide 6: Management’s Message
Management’s Message Commenting on the performance for the quarter & nine months ending December 2025, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: The global business environment is being reshaped by hei
Slide 7: Financial Snapshot – Q3 FY26
Financial Snapshot – Q3 FY26 All figures in Rs/Cr Q3 FY26 Q3 FY25 Net Revenue* PBDIT PAT** 867 13% 4% -19% Net Debt 3,811 (Rs/Cr) 560 537 262 3,367 213 1,084 13.7 ROCE (%) 13.5 Q3'25 Q3'26 Q3'25 Q3'26 Q3'25 Q3'26 • Board announced an interim dividend of 180% amounting to Rs. 56.14 crores. (Total 360
Slide 8: Revenue & PBDIT Drivers – Q3 FY26
Revenue & PBDIT Drivers – Q3 FY26 All figures in Rs/Cr Q3 FY 2026 Q3 FY 2025 Chemicals Sugar & Ethanol* Fenesta SFS 15% 28% 7% 30% 939 1,022 708 756 287 889 722 223 -11% -8% -19% 82% 211 187 204 119 110 112 43 35 Revenue PBDIT Revenue PBDIT Revenue PBDIT Revenue PBDIT • Caustic volumes were up 6%, w
Slide 9: Segment Results – Q3 FY26
Segment Results – Q3 FY26 All figures in Rs/Cr Revenues PBIT PBIT Margins % Segments YoY % YoY % Q3'26 Q3'25 Q3'26 Q3'25 Q3'26 Q3'25 Change Change Chemicals & Vinyl 1,122 932 20 50 89 (43) 4 10 - Chemicals 939 722 30 37 66 (44) 4 9 - Vinyl 183 210 (13) 14 23 (42) 7 11 Sugar & Ethanol* 1,022 889 15 1
Slide 10: Financial Snapshot – 9M FY26
Financial Snapshot – 9M FY26 All figures in Rs/Cr 9M FY26 9M FY25 Net Revenue* PBDIT PAT** 12% 24% 14% 10,345 1,294 9,201 485 1,046 425 9M'25 9M'26 9M'25 9M'26 9M'25 9M'26 * Net revenue includes operating income. Net of excise duty of Rs 546 crs (LY Rs 521 crs) on country liquor sales. ** 9M FY26 in
Slide 11: Revenue & PBDIT Drivers – 9M FY26
Revenue & PBDIT Drivers – 9M FY26 All figures in Rs/Cr 9M FY 2026 9M FY 2025 Chemicals Sugar & Ethanol* Fenesta SFS -2% 17% 41% 26% 2,757 2,840 2,779 819 1,576 1,960 650 1,351 -5% 5% 74% 42% 586 303 318 336 119 113 163 231 Revenue PBDIT Revenue PBDIT Revenue PBDIT Revenue PBDIT • Caustic volumes up
Slide 12: Segment Results – 9M FY26
Segment Results – 9M FY26 All figures in Rs/Cr Revenues PBIT PBIT Margins % Segments YoY % YoY % 9M'26 9M'25 9M'26 9M'25 9M'26 9M'25 Change Change Chemicals & Vinyl 3,344 2,551 31 436 278 57 13 11 - Chemicals 2,757 1,960 41 397 202 97 14 10 - Vinyl 587 591 (1) 38 77 (50) 7 13 Sugar & Ethanol* 2,779
Slide 13: Investments Update
Investments Update TPA : Tonne Per Annum, TPD : Tonne Per Day, TCD – Tonne Crush per Day, MW - Megawatt S.N. Particulars Completion Date 1 850 TPD Caustic Capacity Expansion at Bharuch May 2024 Investments completed 2 120 MW Power Plant at Bharuch June 2024 FY 2025 & 26 3 52,500 TPA Hydrogen Peroxid
Slide 14: Segment Wise Performance
&S DCM SHRIRAM Growing with trust Segment Wise Performance
Slide 15: Chemicals & Vinyl Business
Chemicals & Vinyl Business Revenues PBDIT Cap. Employed Particulars (Rs/ Cr) (Rs/Cr) (Rs/Cr) Q3 FY26 1,121.8 129.0 5,234.9 Q3 FY25 931.6 147.5 4,349.8 % Shift 20.4 (12.5) 20.3 9M FY26 3,344.0 640.4 5,234.9 9M FY25 2,550.9 428.0 4,349.8 % Shift 31.1 49.6 20.3 Capital employed includes CWIP of Rs 422
Slide 16: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realisations Revenues PBDIT Particulars PBDIT Margin (%) (MT) (Rs/MT) (Rs/Cr) (Rs/Cr) Q3 FY26 1,90,814 28,064 938.8 110.0 11.7 Q3 FY25 1,80,824 29,362 721.8 118.9 16.5 % Shift 5.5 (4.4) 30.1 (7.5) (28.9) 9M FY26 5,90,444 29,027 2,756.7 586.4 21.3 9M
Slide 17: Chemicals
Chemicals ▪ The global caustic soda prices remained stable in the quarter supported by healthy 80% capacity utilization. The demand is driven by industries like alumina, textiles and chemicals. Near term volatility persists owing to economic risks, geopolitical tensions, contributing to a cautiously
Slide 18: Vinyl
Vinyl Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBDIT PBDIT Margin Particulars Realisations Realisations (MT) (MT) (Rs/Cr) (Rs/Cr) (%) (Rs/MT) (Rs/MT) Q3 FY26 12,731 67,140 8,503 57,453 183.0 19.0 10.4 Q3 FY25 15,493 76,115 7,143 61,363 209.9 28.5 13.6 % Shift (17.8)
Slide 19: Vinyl
Vinyl ▪ Global as well as Indian PVC demand remained flat in the period. Industry Overview ▪ Non implementation of ‘Anti Dumping Duty’ led to significant downward pressure on prices. ▪ Capacity utilization for Q3 FY26 at 99% vs 95% LY (9M FY26 at 94% vs 90% LY), there was maintenance shutdown in las
Slide 20: Sugar & Ethanol
Sugar & Ethanol Revenues * PBDIT PBDIT Margin Cap. Employed Particulars (Rs/Cr) (Rs/Cr) (%) (Rs/Cr) Q3 FY26 1,022.0 204.3 20.0 2,931.3 Q3 FY25 889.5 112.2 12.6 3,295.3 % Shift 14.9 82.0 58.4 (11.0) 9M FY26 2,779.0 230.9 8.3 2,931.3 9M FY25 2,839.7 162.6 5.7 3,295.3 % Shift (2.1) 42.0 45.1 (11.0) * N
Slide 21: Sugar & Ethanol
Sugar & Ethanol Operational Sugar Sales Sugar Production Sugar (Domestic) Distillery Sales Distillery XWR (Rs/ Particulars (Domestic) (Lac Qtls) XWR (Rs/Qtl) (Lac Ltrs) Ltrs) (Lac Qtls) Q3 FY26 22.0 14.9 4,091 406.7 61.6 Q3 FY25 22.8 13.8 3,836 369.9 63.2 % Shift (3.3) 7.7 6.6 9.9 (2.5) 9M FY26 22.1
Slide 22: Sugar & Ethanol
Sugar & Ethanol ▪ Revenues for Q3 FY26 up 15% YoY(9M FY26 down 2%) o Domestic sugar volumes up 8% in Q3 FY26 (9M FY26 down 9% mainly due to lower offtake). o Domestic Sugar prices for Q3 FY26 up 7% at Rs/ qtl 4,091 vs 3,836 LY (9M FY26 also up 5% YoY). o Ethanol volumes in the current quarter were u
Slide 23: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book Revenues PBDIT PBDIT Margin Cap. Employed Particulars (Rs/Cr) (Rs/Cr) (Rs/Cr) (%) (Rs/Cr) Q3 FY26 283.4 287.0 34.7 12.1 193.9 Q3 FY25 288.8 223.4 42.7 19.1 44.8 % Shift (1.9) 28.4 (18.7) (36.7) 333.1 9M FY26 1053.6 818.6 112.9 13.8 193.9 9M F
Slide 24: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBDIT PBDIT Margin Cap. Employed Particulars (Rs/Cr) (Rs/Cr) (%) (Rs/Cr) Q3 FY26 755.8 187.2 24.8 79.2 Q3 FY25 708.0 211.4 29.9 63.3 % Shift 6.8 (11.5) (17.1) 25.2 9M FY26 1,576.5 317.6 20.1 79.2 9M FY25 1,350.8 302.7 22.4 63.3 % Shift 16.7 4.9 (10.1) 25.2 The product
Slide 25: Fertilizer (Urea)
Fertilizer (Urea) Operational Financial Sales Realisations Revenues PBDIT PBDIT Margin Cap. Employed Particulars (MT) (Rs/MT) (Rs/Cr) (Rs/Cr) (%) (Rs/Cr) Q3 FY26 1,06,510 33,780 374.3 20.0 5.3 86.2 Q3 FY25 1,07,343 34,358 383.0 28.6 7.5 102.9 % Shift (0.8) (1.7) (2.3) (30.1) (28.5) (16.3) 9M FY26 3,
Slide 26: Bioseed
Bioseed Revenues (Rs/Cr) PBDIT PBDIT Margin Cap. Employed Particulars Bioseed India Subsidiaries Total (Rs/Cr) (%) (Rs/Cr) Q3 FY26 135.1 59.0 194.1 30.3 15.6 710.9 Q3 FY25 114.8 53.2 167.9 17.5 10.4 547.0 % Shift 17.7 11.0 15.6 73.2 49.8 29.9 9M FY26 436.3 128.0 564.3 65.5 11.6 710.9 9M FY25 426.8 1
Slide 27: Others
Others Revenues PBDIT Particulars (Rs/Cr) (Rs/Cr) Q3 FY26 71.3 (5.1) Q3 FY25 79.4 (1.5) % Shift (10.3) - 9M FY26 204.2 (12.3) 9M FY25 219.7 (5.1) % Shift (7.0) - Other Businesses includes : 1. Cement Business : The Company’s cement business is located at Kota (Rajasthan) with manufacturing capacity
Slide 28: Financials - Consolidated
Financials - Consolidated Amount in Rs/Cr Particulars Q3 FY 2026 Q3 FY 2025 9M FY 2026 9M FY 2025 FY 2025 Revenue from Operations 4003.3 3518.9 10890.9 9722.0 12741.3 Total Income 4032.0 3560.0 11040.7 9842.9 12883.5 PBDIT 560.4 537.1 1294.0 1045.9 1472.4 Depreciation and Amortization 134.0 108.8 36
Slide 29: About Us & Investor Contacts
DCM Shriram Ltd. is a diversified and an integrated business entity with extensive and growing presence across the Agri value chain, Chemicals & Vinyl industry and Building Material Products. Access to captive power at all key manufacturing units enables the businesses to optimize competitive edge.