Slide 1: Exchange filing cover letter: Investors' Presentation
0 DCW LIMITED August 8, 2025 To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza Bldg. Department of Corporate Services, 5th Floor, Plot No.C-1 1st floor, New Trading Ring 'G' Block, Near Wockhardt, Rotunda Building, Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Mumbai 400 051 Dal
Slide 2: DCW Limited Earning Presentation Q1-FY26
DCW Limited Earning Presentation Q1-FY26 1
Slide 3: Snapshot
Snapshot BUSINESS 8+ 2 Pioneer Leading Largest and Unique Decades of State-of-the-Art In India Soda Ash, C-PVC, Manufacturer of Commercial scale Experience Integrated Synthetic Rutile & C-PVC and SIOP manufacturer of SIOP in Manufacturing Units SIOP in India the Asia OPERATIONS 15+ 1,800 Zero 58 MW
Slide 4: Business Overview, Financial Highlights, Historical Financial Overview
Business Overview Financial Highlights Historical Financial Overview 3
Slide 5: Company Overview
Company Overview Operating Revenue (INR Mn) and EBITDA Margins (%) • Incorporated in 1939, DCW Ltd. was established as Dhrangadhra Chemical Works at Dhrangadhra, 26,338 Gujarat as India’s first Soda Ash plant. 18,716 20,003 • Since then, DCW has pioneered and created a strong presence in the Chlor-A
Slide 6: Key Milestones
Key Milestones Growth in Basic Chemicals Expansion towards Specialty Chemicals Commissioned 20KT of CPVC Setup one of the Entered into a Technical Commenced capacity addition and Commissioning of the first integrated License and Support production of 1st energised Solar park under Chlor-alkali Plant
Slide 7: Marquee Customers
Marquee Customers Basic Chemicals Specialty SpecialtyChemicals Chemicals 6
Slide 8: Value Proposition
Value Proposition Significant Scale-up Opportunities Technology Tie-ups Diversified Application Base Niche & Diversified Product Mix Over 2,500- acre land bank available at Licensed technology from Arkema Catering to over 15 industries with Diversified product mix of Sahupuram facility provides easy
Slide 9: Capital Expenditure
Capital Expenditure Project Planned Date of Capitalisation Actual Date of Capitalisation Change in Capacity Remarks 44.5MW group captive power to Investment in Renewable Power rd Expected Project Completion H2-FY25 3 April 2025 substitute 25% of power requirements at Project completed. Project Sahup
Slide 10: Business Overview, Financial Highlights, Historical Financial Overview
Business Overview Financial Highlights Historical Financial Overview 9
Slide 11: Key Financial and Operational Highlights
Key Financial and Operational Highlights Q1-FY26 Operational Highlights: • Revenue from operations declined by 4.8% YoY and 11.6% QoQ, mainly due to correction in Realisation in PVC coupled with lower sales volume on account of internal consumption. Q1-FY26 Financial Performance • Synthetic Rutile e
Slide 12: Key Segmental Financial Performance
Key Segmental Financial Performance Revenue (INR Mn) & EBITDA Margin (%) Basic Chemicals Specialty Chemicals Others 4,108 80.3% 1,334 1285 46 1,249 78.5% 39 60.2% 3,622 2.3% 22 2.0% 36.2% 35.7% 3,424 33.6% -1.5% Q1-FY25 Q4-FY25 Q1-FY26 Q1-FY25 Q4-FY25 Q1-FY26 Q1-FY25 Q4-FY25 Q1-FY26 11
Slide 13: Operational Performance – Key Products
Operational Performance – Key Products Capacity Utilization (%) C-PVC SIOP Caustic Soda PVC Soda Ash 119% 122% 88% 84% 90% 92% 82% 85% 102% 99% 83% 97% 103% 76% 77% Q1-FY25 Q4-FY25 Q1-FY26 Q1-FY25 Q4-FY25 Q1-FY26 Q1-FY25 Q4-FY25 Q1-FY26 Q1-FY25 Q4-FY25 Q1-FY26 Q1-FY25 Q4-FY25 Q1-FY26 12
Slide 14: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q1-FY26 Q1-FY25 Y-o-Y Q4-FY25 Q-o-Q Operational Income 4,755 4,995 (4.8)% 5,379 (11.6)% Total Expenses 4,217 4,543 (7.2)% 4,821 (12.5)% EBITDA 538 452 19.0% 558 (3.6)% EBITDA Margins (%) 11.31% 9.05% 226 Bps 10.37% 94 Bps Other Income
Slide 15: Business Overview, Financial Highlights, Historical Financial Overview
Business Overview Financial Highlights Historical Financial Overview 14
Slide 16: Historical Income Statement
Historical Income Statement Particulars (INR Mn) FY23 FY24 FY25 Operational Income 26,338 18,716 20,003 Total Expenses 22,053 16,961 18,069 EBITDA 4,285 1,755 1,934 EBITDA Margins (%) 16.27% 9.38% 9.67% Other Income 153 183 231 Depreciation 902 938 999 Interest 1,261 735 672 Profit before exceptiona
Slide 17: Historical Balance Sheet
Historical Balance Sheet Particulars (INR Mn) FY23 FY24 FY25 Particulars (INR Mn) FY23 FY24 FY25 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 12,839 13,005 12,608 Share Capital 590 590 590 Other Equity 9,661 9,727 9,737 Capital Work in progress 597 410 563 Tota
Slide 18: Financial Performance
Financial Performance Revenue From Operations (INR Mn) EBITDA (INR Mn) & EBITDA Margins % PAT (INR Mn) 26,338 4,285 1,920 20,003 18,716 1,755 1,934 11.31% 4,755 16.27% 538 303 9.38% 9.67% 157 114 FY23 FY24 FY25 Q1-FY26 FY23 FY24 FY25 Q1-FY26 FY23 FY24 FY25 Q1-FY26 ROE & ROCE (%) Net Debt to EBITDA &
Slide 19: Capital Market Data
Capital Market Data 1 Year Stock Performance (up to 30th June, 2025) 120% 100% 80% 60% 40% 20% 0% -20% Jul/24 Aug/24 Sep/24 Oct/24 Nov/24 Dec/24 Jan/25 Feb/25 Mar/25 Apr/25 May/25 Jun/25 DCW Sensex Price Data (As on 30th June, 2025) INR Shareholding Pattern (As on 30th June, 2025) Face Value 2.00 CM
Slide 20: Disclaimer
Disclaimer DCW Ltd. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current af
Slide 21: Thank You
THANK YOU 20