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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹3,193 Cr
verified against source
Revenue YoY
11%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
DCM Shriram reported Q4 FY26 revenue of ₹3,193 crore, up 11% YoY, driven by strong performance in chemicals (+32%), Fenesta (+34%), and farm solutions (+32%). PBDIT was flat at ₹400 crore due to elevated fixed costs in chemicals and higher input costs in sugar. The chemicals segment saw a one-time gain of ₹19 crore from Gujarat incentives. Sugar and ethanol revenue declined 3% YoY, with PBDIT down 18% due to higher cane costs. Fenesta crossed ₹1,000 crore in annual revenue. The company is investing ₹217 crore in renewable power and ₹101 crore in epoxy resin capacity expansion. Guidance includes capex of ~₹1,200 crore for FY27. Risks include PVC price volatility from Chinese dumping, West Asia conflict disrupting supply chains, and sugar margin pressure from policy constraints.
Colored figures show movement against the previous available record.
Guidance to track
- Total capex for FY27 is expected to be around ₹1,200 crore, including approved projects for renewable power and epoxy resin expansion.
- The advanced materials vertical (epoxy) is expected to achieve breakeven in the current financial year, with improved margins from capacity expansion.
- The ₹217 crore renewable power project at Baruch is expected to be completed around Q1 FY28, increasing total power provision from 50.4 MW to 98.4 MW.
- The ₹101 crore expansion of formulated resin capacity from 14,000 to 50,000 tonnes per annum is expected to be commissioned by Q2 FY28.
Risks flagged
- Chinese PVC dumping has caused significant price declines; import duty waiver until June 2026 adds uncertainty. Management is in dialogue with government for MIP or ADD.
- The escalation of conflict in West Asia could disrupt energy, fertilizer supply chains, and shipping routes, impacting input costs and logistics.
- Rising cane costs (+8%) and lower ethanol realizations (-15%) are squeezing margins; policy constraints on ethanol allocations penalize integrated players.
- Logistics disruptions from Middle East conflict may impact caustic soda exports, though India's export volumes have been increasing.
Key quotes
- We are now exceptionally well positioned to explore synergistic value chain integrations across our broader manufacturing portfolio.
- The unpredictability with the global geopolitical situation etc is very high.
- Environmental stewardship is no longer a peripheral objective. It is the cornerstone of our capital allocation.
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