Reported Earnings • May 15
Full year 2026 earnings released: EPS: ₹55.70 (vs ₹38.75 in FY 2025) Full year 2026 results: EPS: ₹55.70 (up from ₹38.75 in FY 2025). Revenue: ₹144.6b (up 20% from FY 2025). Net income: ₹8.53b (up 41% from FY 2025). Profit margin: 5.9% (up from 5.0% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 14
DCM Shriram Limited, Annual General Meeting, Aug 18, 2026 DCM Shriram Limited, Annual General Meeting, Aug 18, 2026. Duyuru • May 05
DCM Shriram Limited to Report Q4, 2026 Results on May 13, 2026 DCM Shriram Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 13, 2026 Duyuru • Apr 17
Teknor Apex B.V. agreed to 50% of acquire Shriram Polytech Limited from DCM Shriram Limited (NSEI:DCMSHRIRAM) for $5.6 million. Teknor Apex B.V. agreed to acquire 50% of Shriram Polytech Limited from DCM Shriram Limited (NSEI:DCMSHRIRAM) for $5.6 million on April 16, 2026. A cash consideration of $5.6 million will be paid by Teknor Apex B.V. As part of consideration, $5.6 million is paid towards common equity of Shriram Polytech Limited. The transaction will reduce DCM Shriram's ownership in SPL from 100 per cent to 50 per cent, reclassifying the polymer compounds maker as a joint venture rather than a wholly owned subsidiary.
DCM Shriram's board approved the deal. The expected completion of the transaction is April 23, 2026. Reported Earnings • Jan 21
Third quarter 2026 earnings released: EPS: ₹13.59 (vs ₹16.81 in 3Q 2025) Third quarter 2026 results: EPS: ₹13.59 (down from ₹16.81 in 3Q 2025). Revenue: ₹40.3b (up 20% from 3Q 2025). Net income: ₹2.13b (down 19% from 3Q 2025). Profit margin: 5.3% (down from 7.8% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Duyuru • Jan 12
DCM Shriram Limited to Report Q3, 2026 Results on Jan 20, 2026 DCM Shriram Limited announced that they will report Q3, 2026 results on Jan 20, 2026 Declared Dividend • Oct 30
Dividend increased to ₹3.60 Dividend of ₹3.60 is 80% higher than last year. Ex-date: 3rd November 2025 Payment date: 27th November 2025 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 29
Second quarter 2026 earnings released: EPS: ₹10.14 (vs ₹4.04 in 2Q 2025) Second quarter 2026 results: EPS: ₹10.14 (up from ₹4.04 in 2Q 2025). Revenue: ₹35.3b (up 19% from 2Q 2025). Net income: ₹1.59b (up 152% from 2Q 2025). Profit margin: 4.5% (up from 2.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Duyuru • Oct 18
DCM Shriram Limited to Report Q2, 2026 Results on Oct 28, 2025 DCM Shriram Limited announced that they will report Q2, 2026 results on Oct 28, 2025 New Risk • Sep 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Upcoming Dividend • Jul 29
Upcoming dividend of ₹3.40 per share Eligible shareholders must have bought the stock before 05 August 2025. Payment date: 11 September 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.7%). Reported Earnings • Jul 17
Full year 2025 earnings released: EPS: ₹38.75 (vs ₹28.67 in FY 2024) Full year 2025 results: EPS: ₹38.75 (up from ₹28.67 in FY 2024). Revenue: ₹120.8b (up 11% from FY 2024). Net income: ₹6.04b (up 35% from FY 2024). Profit margin: 5.0% (up from 4.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Duyuru • Jul 14
DCM Shriram Limited to Report Q1, 2026 Results on Jul 21, 2025 DCM Shriram Limited announced that they will report Q1, 2026 results on Jul 21, 2025 Duyuru • Jul 03
DCM Shriram Appoints Hameed Jung as the Chief Human Resources Officer for Its Bioseed Genetics Division DCM Shriram has appointed seasoned HR professional Hameed Jung as the Chief Human Resources Officer (CHRO) for its Bioseed Genetics division. Effective July 1, Jung will anchor talent transformation efforts at the agri-biotech unit, reporting to Sreekanth Chundi, Executive Director and Business Head - Bioseed, with strategic alignment under Group CHRO Sandeep Girotra. With over 30 years of experience across industries like pharmaceuticals, energy, insurance, and automotive, Jung has led change agendas at companies including GE Power, Baxter International, ICICI Prudential, and General Motors. Since joining DCM Shriram in 2022, he has been instrumental in reshaping group-wide talent and learning frameworks. In his elevated role, Jung is expected to drive capability building, succession planning, and culture evolution within Bioseed, which is focused on high-yield hybrid seed solutions across Asia. His deep understanding of human capital dynamics will be key as the company scales innovation in sustainable agriculture. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,423, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 52% over the past three years. Duyuru • Jun 13
DCM Shriram Limited (NSEI:DCMSHRIRAM) agreed to acquire Hindusthan Speciality Chemicals Limited from Hindusthan Urban Infrastructure Limited (BSE:539984) for INR 3.8 billion. DCM Shriram Limited (NSEI:DCMSHRIRAM) agreed to acquire Hindusthan Speciality Chemicals Limited from Hindusthan Urban Infrastructure Limited (BSE:539984) for INR 3.8 billion on June 12, 2025. A cash consideration of INR 3.75 billion will be paid by DCM Shriram Limited. As part of consideration, INR 2.1983 billion wii be paid to Hindusthan Urban Infrastructure Limited. DCM Shriram Ltd will sign a definitive agreement to acquire full ownership of Hindusthan Specialty Chemicals Ltd.
For the period ending March 31, 2025, Hindusthan Speciality Chemicals Limited reported total revenue of INR 2.75 billion and net loss of INR 284.59 million. As of March 31, 2025, Hindusthan Speciality Chemicals Limited reported net liabilities of INR 76.06 million.
The transaction is subject to approval of offer by target shareholders. The deal has been approved by the board of DCM Shriram Limited and Hindusthan Urban Infrastructure Limited. The expected completion of the transaction is in September 2025. Reported Earnings • May 07
Full year 2025 earnings released: EPS: ₹38.75 (vs ₹28.67 in FY 2024) Full year 2025 results: EPS: ₹38.75 (up from ₹28.67 in FY 2024). Revenue: ₹128.8b (up 18% from FY 2024). Net income: ₹6.04b (up 35% from FY 2024). Profit margin: 4.7% (up from 4.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Duyuru • May 01
DCM Shriram Limited to Report Q4, 2025 Results on May 05, 2025 DCM Shriram Limited announced that they will report Q4, 2025 results on May 05, 2025 Duyuru • Mar 18
DCM Shriram Limited Approves Appointment of Tejpreet Singh Chopra as an Independent Director DCM Shriram Limited announced that through postal ballot notice approved the special resolution in respect of Appointment of Mr. Tejpreet Singh Chopra (DIN: 00317683), as an Independent Director of the Company for a period of 5 years, effective January 18, 2025. Duyuru • Feb 03
DCM Shriram Limited Announces Cessation of Ramni Nirula as Independent Director DCM Shriram Limited informed that, Ms. Ramni Nirula (DIN: 00015330), has completed her second term as an Independent Director on February 2, 2025 and consequently has ceased to be Independent Director of the Company with effect from the close of business hours on February 2, 2025. She provided guidance to the Company during her tenure as Independent Director of the Company and as Chairperson of the Audit Committee. Duyuru • Jan 24
DCM Shriram Limited Provides Update on Pending Litigation DCM Shriram Limited had a tax matter for AY 14- 15 (FY 13-14) involving majorly transfer pricing adjustments on industrial consumables, which were earlier decided in favor of the Company at the Income Tax Appellate Tribunal (ITAT) on October 28, 2021 and thereafter, challenged by the Principal Commissioner of Income Tax-1, New Delhi vide an appeal against the said ITAT order in the Hon'ble High Court of Delhi (received by Company on November 8, 2023). The appeal involved tax effect of INR 449.5 million. The matter was heard by the Hon'ble High Court of Delhi on various dates and vide orders dated May 2, 2025 and January 21, 2025, the Court has dismissed the Department's appeal thereby confirming the findings of the ITAT and giving full relief of the tax effect involved to the Company. The said order was downloaded from website of the Hon'ble High Court of Delhi on January 23, 2025 at 4:49 pm. Reported Earnings • Jan 19
Third quarter 2025 earnings released: EPS: ₹16.81 (vs ₹15.42 in 3Q 2024) Third quarter 2025 results: EPS: ₹16.81 (up from ₹15.42 in 3Q 2024). Revenue: ₹33.7b (up 11% from 3Q 2024). Net income: ₹2.62b (up 9.0% from 3Q 2024). Profit margin: 7.8% (down from 7.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • Jan 18
DCM Shriram Limited Approves Executive Changes DCM Shriram Limited at its board meeting held on January 18, 2025, approved, the appointment of: Mr. Deepak Gupta as Company Secretary & Compliance Officer of the Company, with effect from January 18, 2025. Consequently, Ms. Swati Patil Lahiri, Acting Company Secretary & Compliance Officer, has ceased to be the Acting Company Secretary & Compliance Officer of the Company, effective from January 18, 2025. Mr. Anoop Singh, President-Special Projects, as Senior Management Personnel of the Company, with effect from January 18, 2025. Mr. Deepak Gupta is a Fellow member of The Institute of Company Secretaries of India with more than 26 years of extensive experience in corporate laws, Corporate Restructuring and Secretarial matters. During the course of his career, he has been associated with various reputed organizations and has also been active participant in trade & industry associations on matters relating to Corporate Laws. Mr. Anoop Singh has over 33 years of experience and has worked across different organizations. He started his career with CIMMCO Birla India Limited and thereafter worked for other companies, including DCM Shriram Limited, wherein he spent over 18 years. In DCM Shriram, he was working in the Sugar SBU, with extensive experience of overseeing Projects, Commercial and Purchase, putting up several key projects like sugar factories expansion, ethanol plants, potassium sulphate plant etc. He was instrumental in driving innovations in those aspects of the business, with focus on quality delivery and execution of projects. He has lastly worked for Rai Group- Sugar, Kenya & Tanzania, as Chief Executive Officer. Mr. Singh's terms of appointment have been finalized in the grade of President and accordingly the basic salary, allowances, benefits and perquisites are in line with the applicable grade structure and industry/market practices. In his current role, he will drive New Special Projects, working closely with the senior leadership team. Duyuru • Jan 10
DCM Shriram Limited to Report Q3, 2025 Results on Jan 18, 2025 DCM Shriram Limited announced that they will report Q3, 2025 results at 4:00 PM, Indian Standard Time on Jan 18, 2025 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹1,256, the stock trades at a trailing P/E ratio of 37.5x. Average trailing P/E is 35x in the Chemicals industry in India. Total returns to shareholders of 26% over the past three years. Upcoming Dividend • Nov 04
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 11 November 2024. Payment date: 28 November 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.1%). In line with average of industry peers (0.7%). Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ₹4.04 (vs ₹2.07 in 2Q 2024) Second quarter 2025 results: EPS: ₹4.04 (up from ₹2.07 in 2Q 2024). Revenue: ₹31.8b (up 18% from 2Q 2024). Net income: ₹629.2m (up 95% from 2Q 2024). Profit margin: 2.0% (up from 1.2% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • Oct 22
DCM Shriram Limited to Report Q2, 2025 Results on Oct 30, 2024 DCM Shriram Limited announced that they will report Q2, 2025 results on Oct 30, 2024 New Risk • Jul 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 6.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • Jul 24
First quarter 2025 earnings released: EPS: ₹6.43 (vs ₹3.63 in 1Q 2024) First quarter 2025 results: EPS: ₹6.43 (up from ₹3.63 in 1Q 2024). Revenue: ₹31.0b (up 12% from 1Q 2024). Net income: ₹1.00b (up 77% from 1Q 2024). Profit margin: 3.2% (up from 2.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Jul 24
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Non-Executive Independent Director Vikramajit Sen was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Jul 13
DCM Shriram Limited to Report Q1, 2025 Results on Jul 23, 2024 DCM Shriram Limited announced that they will report Q1, 2025 results on Jul 23, 2024 Upcoming Dividend • Jul 02
Upcoming dividend of ₹2.60 per share Eligible shareholders must have bought the stock before 09 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.1%). In line with average of industry peers (0.7%). Reported Earnings • Jun 18
Full year 2024 earnings released: EPS: ₹28.67 (vs ₹58.41 in FY 2023) Full year 2024 results: EPS: ₹28.67 (down from ₹58.41 in FY 2023). Revenue: ₹109.2b (down 5.4% from FY 2023). Net income: ₹4.47b (down 51% from FY 2023). Profit margin: 4.1% (down from 7.9% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Declared Dividend • May 08
Final dividend of ₹2.60 announced Shareholders will receive a dividend of ₹2.60. Ex-date: 9th July 2024 Payment date: 15th August 2024 Dividend yield will be 0.7%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 74% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years. Reported Earnings • May 07
Full year 2024 earnings released: EPS: ₹28.67 (vs ₹58.41 in FY 2023) Full year 2024 results: EPS: ₹28.67 (down from ₹58.41 in FY 2023). Revenue: ₹115.3b (flat on FY 2023). Net income: ₹4.47b (down 51% from FY 2023). Profit margin: 3.9% (down from 7.9% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Duyuru • Feb 27
DCM Shriram Limited Approves Interim Dividend for the Financial Year 2023-24, Payable on or Before March 27, 2024 DCM Shriram Limited announced at the board meeting held on February 21, 2024, declared Interim Dividend for the financial year 2023-24 on the paid-up equity share capital of the Company, @ 200% (INR 4 per equity share of face value of INR 2/- each). As already intimated vide aforesaid letter, the Record Date fixed for the purpose of the said Interim Dividend shall be March 6, 2024. Further, the said Interim Dividend shall be paid/dispatched to all eligible shareholders on or before March 27, 2024. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹15.42 (vs ₹21.94 in 3Q 2023) Third quarter 2024 results: EPS: ₹15.42 (down from ₹21.94 in 3Q 2023). Revenue: ₹31.7b (down 2.0% from 3Q 2023). Net income: ₹2.40b (down 30% from 3Q 2023). Profit margin: 7.6% (down from 11% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Duyuru • Jan 19
DCM Shriram Limited to Report Q3, 2024 Results on Jan 31, 2024 DCM Shriram Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Duyuru • Nov 02
DCM Shriram Limited Announces Board Changes DCM Shriram Limited announced the appointment of Mr. Rabi Narayan Mishra as Nominee Director of LIC of India on the Board of the Company in place of Ms. Sarita Garg. The company updated that Mr. Rabi Narayan Mishra has been allotted Director Identification Number (DIN:10377015) and his appointment is effective from November 01, 2023. Ms. Sarita Garg has tendered her resignation effective from October 31, 2023. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. Deputy MD & Director Aditya Shriram was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Second quarter 2024 earnings released: EPS: ₹2.07 (vs ₹8.22 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.07 (down from ₹8.22 in 2Q 2023). Revenue: ₹28.5b (up 3.9% from 2Q 2023). Net income: ₹322.4m (down 75% from 2Q 2023). Profit margin: 1.1% (down from 4.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 20
DCM Shriram Limited to Report Q2, 2024 Results on Oct 30, 2023 DCM Shriram Limited announced that they will report Q2, 2024 results on Oct 30, 2023 New Risk • Jul 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.2% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.2% net profit margin). Reported Earnings • Jul 25
First quarter 2024 earnings released: EPS: ₹3.63 (vs ₹16.29 in 1Q 2023) First quarter 2024 results: EPS: ₹3.63 (down from ₹16.29 in 1Q 2023). Revenue: ₹29.5b (up 3.6% from 1Q 2023). Net income: ₹565.8m (down 78% from 1Q 2023). Profit margin: 1.9% (down from 8.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 14
DCM Shriram Limited to Report Q1, 2024 Results on Jul 24, 2023 DCM Shriram Limited announced that they will report Q1, 2024 results on Jul 24, 2023 Upcoming Dividend • Jul 11
Upcoming dividend of ₹3.60 per share at 1.5% yield Eligible shareholders must have bought the stock before 18 July 2023. Payment date: 24 August 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.9%). Duyuru • Jul 04
DCM Shriram Limited Approves the Cessation of K.K. Kaul to Be the Whole Time Director DCM Shriram Limited approved Mr. K.K. Kaul has ceased to be the Whole Time Director of the Company with effect from closing of business hours of July 01, 2023, the date of completion of his tenure. He has also tendered his resignation vide resignation letter dated July 01, 2023 from the directorship of the Board of the Company from the said date, though his intent to step down from the Board was duly noted and approved by the Board and the same was informed in our above-mentioned letter. However, he will continue to be part of Senior Management Team for a further mutually agreed period. Reported Earnings • May 03
Full year 2023 earnings released: EPS: ₹58.41 (vs ₹68.45 in FY 2022) Full year 2023 results: EPS: ₹58.41 (down from ₹68.45 in FY 2022). Revenue: ₹122.0b (up 27% from FY 2022). Net income: ₹9.11b (down 15% from FY 2022). Profit margin: 7.5% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 22
Third quarter 2023 earnings released: EPS: ₹21.94 (vs ₹22.43 in 3Q 2022) Third quarter 2023 results: EPS: ₹21.94 (down from ₹22.43 in 3Q 2022). Revenue: ₹32.4b (up 19% from 3Q 2022). Net income: ₹3.42b (down 2.2% from 3Q 2022). Profit margin: 11% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 21
DCM Shriram Limited Declares Second Interim Dividend for the Financial Year 2022-23, Payable on or Before February 18, 2023 DCM Shriram Limited announced that at its Board of directors of the company at meeting held on January 20, 2023, the board of directors declared second interim dividend of 290% that is INR 5.80 per equity share of face value of INR 2 each for the financial year 2022-23 which will be paid/dispatched to all concerned on or before February 18, 2023. Duyuru • Jan 11
DCM Shriram Limited to Report Q3, 2023 Results on Jan 20, 2023 DCM Shriram Limited announced that they will report Q3, 2023 results on Jan 20, 2023 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. Non-Executive Director Sarita Garg was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 24
Upcoming dividend of ₹4.60 per share Eligible shareholders must have bought the stock before 31 October 2022. Payment date: 17 November 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.7%). Reported Earnings • Oct 21
Second quarter 2023 earnings released: EPS: ₹8.22 (vs ₹10.16 in 2Q 2022) Second quarter 2023 results: EPS: ₹8.22 (down from ₹10.16 in 2Q 2022). Revenue: ₹27.4b (up 28% from 2Q 2022). Net income: ₹1.28b (down 19% from 2Q 2022). Profit margin: 4.7% (down from 7.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 20
DCM Shriram Limited Declares Interim Dividend for the Financial Year 2022-23, Payable on or Before November 17, 2022 DCM Shriram Limited announced at the board meeting held on October 19, 2022 that the company approved to declare interim dividend of 230% either INR 4.60/- per equity share of face value of INR 2/- each for the financial year 2022-23, which will be paid/dispatched to all concerned on or before 17.11.2022. Duyuru • Oct 12
DCM Shriram Limited to Report Q2, 2023 Results on Oct 19, 2022 DCM Shriram Limited announced that they will report Q2, 2023 results on Oct 19, 2022 Duyuru • Jul 12
DCM Shriram Limited to Report Q1, 2023 Results on Jul 19, 2022 DCM Shriram Limited announced that they will report Q1, 2023 results on Jul 19, 2022 Upcoming Dividend • Jun 30
Upcoming dividend of ₹4.90 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (0.8%). Reported Earnings • Jun 29
Full year 2022 earnings released: EPS: ₹68.45 (vs ₹43.18 in FY 2021) Full year 2022 results: EPS: ₹68.45 (up from ₹43.18 in FY 2021). Revenue: ₹96.3b (up 16% from FY 2021). Net income: ₹10.7b (up 59% from FY 2021). Profit margin: 11% (up from 8.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 07
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: ₹68.45 (up from ₹43.18 in FY 2021). Revenue: ₹99.4b (up 20% from FY 2021). Net income: ₹10.7b (up 59% from FY 2021). Profit margin: 11% (up from 8.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 41%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Additional Director Sarita Garg was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₹1,102, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 168% over the past three years. Buying Opportunity • Mar 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.0%. The fair value is estimated to be ₹1,256, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Buying Opportunity • Feb 22
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 1.0%. The fair value is estimated to be ₹1,244, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Buying Opportunity • Jan 24
Now 22% undervalued Over the last 90 days, the stock is up 3.2%. The fair value is estimated to be ₹1,301, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Jan 20
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: ₹22.43 (up from ₹16.25 in 3Q 2021). Revenue: ₹28.2b (up 30% from 3Q 2021). Net income: ₹3.50b (up 38% from 3Q 2021). Profit margin: 12% (in line with 3Q 2021). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 41%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Additional Director Sarita Garg was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹984, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 157% over the past three years. Reported Earnings • Oct 20
Second quarter 2022 earnings released: EPS ₹10.16 (vs ₹7.63 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹22.0b (up 7.4% from 2Q 2021). Net income: ₹1.59b (up 33% from 2Q 2021). Profit margin: 7.2% (up from 5.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Reported Earnings • Oct 20
Second quarter 2022 earnings released: EPS ₹10.16 (vs ₹7.63 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹22.0b (up 7.4% from 2Q 2021). Net income: ₹1.59b (up 33% from 2Q 2021). Profit margin: 7.2% (up from 5.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹1,159, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 285% over the past three years. Duyuru • Sep 15
DCM Shriram Limited (BSE:523367) agreed to acquire Shriram Axiall Private Limited from Axiall Corporation. DCM Shriram Limited (BSE:523367) agreed to acquire Shriram Axiall Private Limited from Axiall Corporation on September 13, 2021. The Board of Directors of DCM Shriram Limited (BSE:523367) considered and approved the proposal to acquire entire 50% shareholding held by Axiall LLC in SAPL. Recent Insider Transactions • Sep 02
Insider recently sold ₹1.8m worth of stock On the 30th of August, Vinoo Mehta sold around 2k shares on-market at roughly ₹890 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹4.0m. Insiders have been net sellers, collectively disposing of ₹60m more than they bought in the last 12 months. Executive Departure • Aug 28
Executive Director of HR Sushil Baveja has left the company On the 24th of August, Sushil Baveja's tenure as Executive Director of HR ended. We don't have any record of a personal shareholding under Sushil's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.46 years. Recent Insider Transactions • Aug 19
Insider recently sold ₹3.8m worth of stock On the 13th of August, Anil Jain sold around 4k shares on-market at roughly ₹968 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹4.0m. Insiders have been net sellers, collectively disposing of ₹55m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₹1,012, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 204% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of ₹3.80 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 19 August 2021. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Reported Earnings • Jun 30
Full year 2021 earnings released: EPS ₹43.18 (vs ₹45.96 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: ₹83.1b (up 7.0% from FY 2020). Net income: ₹6.73b (down 6.1% from FY 2020). Profit margin: 8.1% (down from 9.2% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 26
Insider recently sold ₹4.0m worth of stock On the 22nd of June, Vinay Mehta sold around 5k shares on-market at roughly ₹800 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹49m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 15% share price gain to ₹846, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 222% over the past three years. Recent Insider Transactions • Jun 02
Insider recently sold ₹353k worth of stock On the 28th of May, Saibal Bhattacharya sold around 500 shares on-market at roughly ₹705 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹32m more than they bought in the last 12 months. Recent Insider Transactions • May 13
Insider recently sold ₹3.6m worth of stock On the 10th of May, Sanjay Chhabra sold around 5k shares on-market at roughly ₹712 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹7.7m more than they bought in the last 12 months. Reported Earnings • May 05
Full year 2021 earnings released: EPS ₹43.17 (vs ₹45.96 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: ₹84.0b (up 8.2% from FY 2020). Net income: ₹6.73b (down 6.1% from FY 2020). Profit margin: 8.0% (down from 9.2% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₹659, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 58% over the past three years. Recent Insider Transactions • Mar 15
Insider recently sold ₹737k worth of stock On the 8th of March, Sanjay Chhabra sold around 1k shares on-market at roughly ₹575 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹4.1m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 15% share price gain to ₹545, the stock is trading at a trailing P/E ratio of 13.2x, up from the previous P/E ratio of 11.5x. This compares to an average P/E of 17x in the Chemicals industry in India. Total returns to shareholders over the past three years are 10%. Is New 90 Day High Low • Feb 12
New 90-day high: ₹474 The company is up 40% from its price of ₹339 on 14 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: ₹431 The company is up 22% from its price of ₹355 on 23 October 2020. The Indian market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 23% over the same period. Reported Earnings • Jan 20
Third quarter 2021 earnings released: EPS ₹16.25 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: ₹21.8b (flat on 3Q 2020). Net income: ₹2.53b (up 45% from 3Q 2020). Profit margin: 12% (up from 8.0% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Duyuru • Jan 12
DCM Shriram Limited to Report Q3, 2021 Results on Jan 19, 2021 DCM Shriram Limited announced that they will report Q3, 2021 results on Jan 19, 2021 Is New 90 Day High Low • Dec 07
New 90-day high: ₹392 The company is up 14% from its price of ₹343 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 16% over the same period. 
