India · Delayed Price · Currency is INR DCM Shriram Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 delivered 12% revenue growth, led by Chemicals, Fenesta, and Farm Solutions, while Sugar margins were pressured by higher cane costs. Major CapEx in renewables and advanced materials is underway, with robust capacity utilization and sustainability initiatives supporting future growth.
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Q3 FY26 saw 13% revenue growth and 4% PBDIT rise, led by chemicals, sugar, ethanol, and agri inputs. Major chemical investments are nearing completion, with steady growth and margin improvement expected from FY27. Fenesta margins should stabilize as new capacities ramp up.
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Q2 FY26 saw 11% revenue and 74% EBITDA growth, led by Chemicals and Farm Solutions, with strong margin gains and strategic integration moves. Key projects and acquisitions are underway, while the outlook remains positive despite sectoral and policy risks.
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Q1FY26 saw 13% revenue and 19% PBDIT growth, led by chemicals and agri inputs, despite headwinds in sugar/ethanol and PVC. Strategic CapEx, new product launches, and acquisitions support future growth, while regulatory and global risks persist.
Fiscal Year 2025
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Q4 and FY25 saw double-digit revenue and profit growth, led by chemicals, agri-inputs, and sugar, with strong cash flows and a healthy balance sheet. Major CapEx projects are nearing completion, and the company is advancing in renewables, digitalization, and business reorganization.
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Q3 FY25 saw 11% revenue and 12% PBDIT growth, led by chemicals and agri-inputs, with strong capacity expansion and cost optimization initiatives underway. Margins in sugar remain pressured, while new projects in advanced materials and renewables are progressing.
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Q2 FY25 saw 9% revenue growth and 73% PBDIT increase year-on-year, led by chemicals, SFS, and Bioseed. Strategic CapEx in chemicals and Fenesta, focus on sustainability, and anti-dumping measures for PVC are expected to support future growth. Net debt reduced and a 100% dividend declared.
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Q1 FY25 saw strong growth in chemicals and vinyl, offset by margin pressure in sugar due to higher costs and no exports. New capacities in caustic and power were commissioned, with further ramp-up and downstream expansions planned. Net revenues rose 3% year-over-year to INR 2,876 crore.