Dcw Ltd. · NSE:DCW
Dcw — Q2 FY27 Earnings Presentation
24 slides from Dcw's earnings presentation, Oct 29, 2026
Slide 1: DCW Better Chemistry. Better Tomorrow. Covering Letter
n DCW Better Chemistry. Better Tomorrow. October 29, 2026 To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza Bldg. Department of Corporate Services, 5th Floor, Plot No.C-1 l8tfloor, New Trading Ring 'G' Block, Near Wockhardt, Rotunda Building, Sandra Kurla Complex Phiroze Jeejeebho
Slide 2: Earning Presentation Q2/H1-FY27
Earning Presentation Q2/H1-FY27
Slide 3: Snapshot
Snapshot BUSINESS 8+ 2 Pioneer Leading Largest and Decades of State-of-the-Art In India Soda Ash, C-PVC, Manufacturer of Unique Experience Integrated Synthetic Rutile & C-PVC and SIOP Commercial scale Manufacturing Units SIOP in India manufacturer of SIOP in the Asia OPERATIONS 15+ 1,800 Zero 58 MW
Slide 4: Business Overview
Business Overview Financial Highlights Historical Financial Overview
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, 21,436 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 Entered into a Commissioned 20KT of CPVC Setup one of the Technical License and capacity addition and Commissioning of first integrated Support Agreement Commenced energised Solar park under the Chlor-alkali plants in Ind
Slide 7: Marquee Customers
Marquee Customers Basic Chemicals Specialty SpecialtyChemicals Chemicals 6
Slide 8: Value Proposition
Value Proposition Significant Scale-up Technology Tie- Diversified Application Niche & Diversified Opportunities ups Base Product Mix Over 2,500- acre land bank available at Licensed technology from Arkema & Catering to over 15 industries Diversified product mix of Sahupuram facility provides easy s
Slide 9: Capital Expenditure
Capital Expenditure • Total expansion in SIOP is planned for 15,000 MT (50% capacity enhancement) in phased manner with Phase I Capacity ramp up of 7,000 MT and Phase II growth of 8,000 MT to be undertraken post completion of phase I. Value added products in the pigment category will enter the marke
Slide 10: Financial Highlights
Business Overview Financial Highlights Historical Financial Overview
Slide 11: Key Financial and Operational Highlights
Key Financial and Operational Highlights Q2-FY27 Financial Performance Q2/H1-FY27 Operational Highlights • Q2 Revenue from Operations grew 22.9% YoY to INR 6,629 Mn, driven by 31.5% Revenue from EBITDA growth in Speciality Chemicals and 19.9% growth in Basic Chemicals. Operations EBITDA Margins • Sp
Slide 12: Quarterly Key Segmental Financial Performance
Quarterly Key Segmental Financial Performance Revenue (INR Mn) & EBITDA Margin (%) Basic Chemicals Specialty Chemicals Others 4,730 3,945 3,609 1,844 1,770 1,402 55 45 40 32.2% 29.1% 2.4% 2.7% 79.8% 74.7% 82.4% -5.2% 16.3% Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 11
Slide 13: Half-Yearly Key Segmental Financial Performance
Half - Yearly Key Segmental Financial Performance Revenue (INR Mn) & EBITDA Margin (%) Basic Chemicals Specialty Chemicals Others 8,339 7,370 95 3,614 91 2,687 80.1% 79.1% 32.9% 2.2% 22.6% (0.7)% H1-FY26 H1-FY27 H1-FY26 H1-FY27 H1-FY26 H1-FY27 12
Slide 14: Quarterly Operational Performance – Key Products
Quarterly Operational Performance – Key Products Capacity Utilization (%) C-PVC SIOP Caustic Soda PVC Soda Ash 111% 83% 85% 84% 90% 88% 88% 105% 103% 91% 91% 84% 86% 85% 68% Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 13
Slide 15: Half-Yearly Operational Performance – Key Products
Half - Yearly Operational Performance – Key Products Capacity Utilization (%) C-PVC SIOP Caustic Soda PVC Soda Ash 119% 85% 83% 87% 88% 101% 88% 94% 80% 89% H1-FY26 H1-FY27 H1-FY26 H1-FY27 H1-FY26 H1-FY27 H1-FY26 H1FY27 H1-FY26 H1-FY27 14
Slide 16: Quarterly Financial Performance
Quarterly Financial Performance Particulars (INR Mn) Q2-FY27 Q2-FY26 Y-o-Y Q1-FY27 Q-o-Q Operational Income 6,629 5,392 22.9% 5,419 22.3% Total Expenses 6,154 4,812 27.9% 5,061 21.6% EBITDA 475 580 (18.1)% 358 32.7% EBITDA Margins (%) 7.17% 10.76% (359) Bps 6.61% 56 Bps Other Income 71 47 51.1% 57 2
Slide 17: Half-Yearly Financial Performance
Half - Yearly Financial Performance Particulars (INR Mn) H1-FY27 H1-FY26 Y-o-Y Operational Income 12,048 10,147 18.7% Total Expenses 11,216 9,029 24.2% EBITDA 832 1,118 (25.6)% EBITDA Margins (%) 6.91% 11.02% (411) Bps Other Income 128 86 48.8% Depreciation 532 511 4.1% Interest 284 306 (7.2)% Profi
Slide 18: Historical Financial Overview
Business Overview Financial Highlights Historical Financial Overview
Slide 19: Historical Income Statement
Historical Income Statement Particulars (INR Mn) FY24 FY25 FY26 H1-FY27 Operational Income 18,716 20,003 21,436 12,048 Total Expenses 16,961 18,071 19,220 11,216 EBITDA 1,755 1,932 2,216 832 EBITDA Margins (%) 9.38% 9.66% 10.34% 6.91% Other Income 183 231 190 128 Depreciation 938 999 1,038 532 Inter
Slide 20: Historical Balance Sheet
Historical Balance Sheet Particulars (INR Mn) FY25 FY26 H1-FY27 Particulars (INR Mn) FY25 FY26 H1-FY27 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 12,608 12,824 12,642 Share Capital 590 590 590 Capital Work in progress 563 216 288 Other Equity 9,738 10,158 10,
Slide 21: Financial Performance
Financial Performance Revenue From Operations (INR Mn) EBITDA (INR Mn) & EBITDA Margins % PAT (INR Mn) 21,436 2,216 482 20,003 449 18,716 1,755 1,932 12,048 301 10.34% 832 9.38% 9.66% 157 6.91% FY24 FY25 FY26 H1-FY27 FY24 FY25 FY26 H1-FY27 FY24 FY25 FY26 H1-FY27 ROE & ROCE (%) Net Debt to EBITDA & N
Slide 22: Capital Market Data
Capital Market Data 1 Year Stock Performance (up to 30 th September, 2026) 10% 0% -10% -20% -30% -40% -50% Oct/25 Nov/25 Dec/25 Jan/26 Feb/26 Mar/26 Apr/26 May/26 Jun/26 Jul/26 Aug/26 Sep/26 DCW Sensex Price Data (As on 30th September, 2026) INR Shareholding Pattern (As on 30th September, 2026) Face
Slide 23: 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 24: Thank You
Dcw BETTER CHEMISTRY. BETTER TOMORROW. Thank You