DCMSHRIRAM / Q3-FY26 / claim-ledger

Audit the questions that mattered.

DCM Shriram · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ3-FY26 · 2026-01-15Back to quarter ↗

Questions audited

Answered directly

54%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Pujan Sha · Molecule Ventures

partial

Possibility of MIP on PVC after ADD rejection

We are actually working with the government on this... we've actually been to the government and various ministries to look at MIP... we have taken up this issue MIP very actively with the government.

Pujan Sha · Molecule Ventures

evasive

Timeline for MIP implementation

Yeah I think time frame is little difficult when we are dealing with government ministries but we are actively on the job.

Pujan Sha · Molecule Ventures

direct

Impact of China revoking VAT benefits on PVC

Well actually when the government administr the government of China announced the the removal of subsidy of 13% on PBC from 1st April it straight away had a positive impact on the industry and the prices have gone up 34 rupees already.

Pujan Sha · Molecule Ventures

direct

Reason for strong PVC PBIT despite industry pressure

So uh this was uh see one our power costs have come down. So as you know power is the almost 60 70% cost of production. So we've seen reduction in our power cost and that's continuous.

Raj Vias · Balanta Portfolio

evasive

Demand scenario and US tariff impact across products

Yes. So all of them have different duties, different structures. So that is moving as uh with the government as I just mentioned about PBC... government needs to actually take some more corrective action.

Raj Vias · Balanta Portfolio

partial

Fenesta margin stabilization and order book decline

Yes. So see one coming on the margin uh reduction see margins uh as as was mentioned in the chairman's speech... one our facade business is picking up... and aluminum prices went up significantly.

Raj Vias · Balanta Portfolio

direct

Timeline for Hindustan Speciality Chemicals breakeven

So see we said it will take about a year. We acquired uh this business in uh end of August. All right. So yeah by within by end of the year we should be nearing uh by the end of these 12 months since acquisition we should be nearing the break even or maybe better than that.

Raj Vias · Balanta Portfolio

evasive

Update on demerger of consumer-facing products

Yeah. So we are in the advanced agency. See this a it's a you know very old organization over 100 years old organization. So there are a lot of interlinkages... We have clarity internally. So we are moving in that direction.

Ahmed Mada · Unifi Capital

partial

Timelines for restructuring/demerger

Mad our intention is to do it as early as possible... we hope to do it as early as possible if all goes well maybe next 3 4 months we should be there.

Ahmed Mada · Unifi Capital

partial

Epichlorohydrin plant status and stabilization costs

The epiclorohydrren plant was commissioned in Q3 FY26... 2/3 of the capacity approximately has been commissioned... we are not making money in ECH right now.

Ahmed Mada · Unifi Capital

partial

Revenue and losses from HSCL and ECH businesses

Yeah. So revenue was in the range of around 90 to 100 crores for the quarter from the HSCL... and uh there were marginal losses at EIA level.

Ahmed Mada · Unifi Capital

direct

Normalized margin for Fenesta business

I would say this business uh uh should be around 14% once uh we have scale and backward... That's what guidance I've been giving for last couple of quarters.