Slide 1: Exchange filing cover letter for investors' presentation
0 DCW LIMITED May 05, 2026 To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza Bldg. Department of Corporate Services, 5 th 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 Dala
Slide 2: DCW Limited Earning Presentation Q4-FY26/FY26
DCW Limited Earning Presentation Q4-FY26/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
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. 21,436 18,716 20,003 • Since then, DCW has pioneered and created a strong presence in the
Slide 6: Key Milestones
Key Milestones Growth in Basic Chemicals Expansion towards Specialty Chemicals Commissioned 20KT of CPVC capacity addition Setup one of the Entered into a Technical Commenced and energised Solar park Commissioning of first integrated License and Support production of under group captive for the Chlo
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 Change in Capacity Remarks Last 10KT: Expected Capacity Enhancement from 40,000 TPA to Completed as per CPVC Phase III Completion by Mar26 50,000 TPA schedule 8
Slide 10: Financial Highlights
Business Overview Financial Highlights Historical Financial Overview 9
Slide 11: Key Financial and Operational Highlights
Key Financial and Operational Highlights Q4-FY26 Financial Performance Q4-FY26/FY26 Operational Highlights: • Q4 Revenue from Operations stood at INR 6,091 Mn, higher by 13.2% YoY and 17.2% Revenue from EBITDA EBITDA Margins sequentially. FY26 Revenue stood at INR 21,436 Mn, an increase of 7.2% YoY,
Slide 12: Quarterly Key Segmental Financial Performance
Quarterly Key Segmental Financial Performance Revenue (INR Mn) & EBITDA Margin (%) Basic Chemicals Specialty Chemicals Others 4,391 4,108 3,621 1,675 1,562 1,249 36.2% 25 22 31.4% 5.6% 15 22.9% 2.2% -1.2% 60.2% 61.7% 38.1% Q4-FY25 Q3-FY26 Q4-FY26 Q4-FY25 Q3-FY26 Q4-FY26 Q4-FY25 Q3-FY26 Q4-FY26 11
Slide 13: YTD Key Segmental Financial Performance
YTD Key Segmental Financial Performance Revenue (INR Mn) & EBITDA Margin (%) Basic Chemicals Specialty Chemicals Others 5,923 15,382 5,257 131 14,631 116 35.3% 29.7% 68.2% 71.7% 2.4% 0.0% FY25 FY26 FY25 FY26 FY25 FY26 12
Slide 14: Quarterly Operational Performance – Key Products
Quarterly Operational Performance – Key Products Capacity Utilization (%) C-PVC SIOP Caustic Soda PVC Soda Ash 96% 119% 84% 86% 90% 83% 101% 83% 99% 97% 100% 95% 80% 94% 90% Q4-FY25 Q3-FY26 Q4-FY26 Q4-FY25 Q3-FY26 Q4-FY26 Q4-FY25 Q3-FY26 Q4-FY26 Q4-FY25 Q3-FY26 Q4-FY26 Q4-FY25 Q3-FY26 Q4-FY26 13
Slide 15: YTD Operational Performance – Key Products
YTD Operational Performance – Key Products Capacity Utilization (%) C-PVC SIOP Caustic Soda PVC Soda Ash 106% 102% 98% 100% 86% 83% 90% 91% 86% 80% FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 14
Slide 16: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q4-FY26 Q4-FY25 Y-o-Y Q3-FY26 Q-o-Q Operational Income 6,091 5,379 13.2% 5,198 17.2% Total Expenses 5,445 4,822 12.9% 4,746 14.7% EBITDA 646 557 16.0% 452 42.9% EBITDA Margins (%) 10.61% 10.36% 25 Bps 8.70% 191 Bps Other Income 56 59
Slide 17: YTD Consolidated Financial Performance
YTD Consolidated Financial Performance Particulars (INR Mn) FY26 FY25 Y-o-Y Operational Income 21,436 20,003 7.2% Total Expenses 19,220 18,071 6.4% EBITDA 2,216 1,932 14.7% EBITDA Margins (%) 10.34% 9.66% 68 Bps Other Income 190 231 (17.7)% Depreciation 1,038 999 3.9% Interest 622 672 (7.4)% Profit
Slide 18: Historical Financial Overview
Business Overview Financial Highlights Historical Financial Overview 17
Slide 19: Historical Income Statement
Historical Income Statement Particulars (INR Mn) FY23 FY24 FY25 FY26 Operational Income 26,338 18,716 20,003 21,436 Total Expenses 22,053 16,961 18,071 19,220 EBITDA 4,285 1,755 1,932 2,216 EBITDA Margins (%) 16.27% 9.38% 9.66% 10.34% Other Income 153 183 231 190 Depreciation 902 938 999 1,038 Inter
Slide 20: Historical Balance Sheet
Historical Balance Sheet Particulars (INR Mn) FY24 FY25 FY26 Particulars (INR Mn) FY24 FY25 FY26 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 13,005 12,608 12,824 Share Capital 590 590 590 Capital Work in progress 410 563 216 Other Equity 9,727 9,738 10,158 Rig
Slide 21: Financial Performance
Financial Performance Revenue From Operations (INR Mn) EBITDA (INR Mn) & EBITDA Margins % PAT (INR Mn) 26,338 4,285 1,920 21,436 18,716 20,003 2,216 1,755 1,932 16.27% 482 10.34% 301 9.38% 9.66% 157 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 ROE & ROCE (%) Net Debt to EBITDA & Net D
Slide 22: Capital Market Data
Capital Market Data 1 Year Stock Performance (up to 31st March, 2026) 20% 10% 0% -10% -20% -30% -40% -50% -60% Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 DCW Sensex Price Data (As on 31st March, 2026) INR Shareholding Pattern (As on 31st March, 2026) Face Val
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
THANK YOU 23