DCM Shriram Limited demonstrated resilient performance in Q3 FY26, reporting strong revenue growth across multiple business segments despite challenging market conditions. The diversified conglomerate's strategic focus on operational efficiency and new project commissioning supported its financial momentum during the quarter.

Financial Performance Overview

The company's consolidated performance showed robust growth momentum in Q3 FY26. Key financial metrics reflected the impact of business expansion and operational improvements across segments.

For the nine months ended December 31, 2025, revenues reached ₹10,345 crores, representing a 12% increase year-on-year. PBDIT for the same period grew significantly by 24% to ₹1,294 crores, led by strong performance in chemicals, sugar & ethanol, and Shriram Farm Solutions businesses.

Chemicals Business Drives Growth

The chemicals segment emerged as the primary growth driver, reporting impressive revenue expansion of 30% year-on-year. This growth was supported by multiple factors including improved capacity utilization and new project contributions.

The segment benefited from better caustic soda capacity utilization and contributions from newly commissioned projects including hydrogen peroxide, aluminium chloride, refined glycerine, and epoxy facilities. The Epichlorohydrin plant, commissioned in October 2025, has gained market acceptance with the company expanding its sales network including export markets.

Sugar & Ethanol Segment Shows Strong Momentum

The sugar & ethanol business delivered robust performance with revenue growth of 15% year-on-year. Volume improvements in both domestic sugar and ethanol sales supported the segment's strong showing.

The segment's PBDIT nearly doubled to ₹204 crores compared to ₹112 crores in the previous year, including a positive impact of ₹36 crores from reversal of provisions related to retrospective levy duties on ethanol exports.

Mixed Performance Across Other Segments

The Vinyl segment faced headwinds with revenues declining 13% year-on-year due to lower PVC volumes and subdued pricing for both PVC and carbide. PBDIT decreased to ₹19 crores from ₹29 crores in the previous year, despite improved operating costs.

Fenesta Building Systems achieved strong revenue growth of 28% year-on-year, led by the project vertical. However, PBDIT declined to ₹35 crores from ₹43 crores due to product mix changes and higher fixed costs from investments in new revenue platforms and brand enhancement.

Shriram Farm Solutions reported 7% revenue growth supported by strong research wheat and specialty nutrients volumes, though PBDIT decreased by 11% due to margin moderation following the poor kharif season.

Strategic Initiatives and Market Outlook

The company continues advancing several strategic projects including aluminium chloride and calcium chloride facilities at Bharuch, and a 68-megawatt green power project for Kota. The aluminium extrusion project at Kota remains on schedule with phase one expected to be commissioned by the end of the next quarter.

Management highlighted ongoing efforts to secure government support for the PVC industry through minimum import price implementation, following the rejection of anti-dumping duties. The company is also working with various ministries on quality control orders to ensure appropriate standards for potable applications.

Financial Position and Capital Allocation

The company maintained a strong balance sheet with net debt of ₹1,084 crores as of December 31, 2025, compared to ₹867 crores in the previous year. Return on capital employed remained stable at 14%. The board announced an interim dividend of 180%, bringing the total dividend for the year to 360%, amounting to ₹112.28 crores.

With major chemical segment investments nearing completion, the company is well-positioned to explore value-chain opportunities aligned with its core businesses while maintaining focus on sustainable and responsible growth.

Source:

DCM Shriram Limited has announced the cancellation of a trading plan submitted by its Executive Director and Group CFO under SEBI's insider trading regulations. The development was communicated to both BSE and NSE on January 20, 2026, following approval from the company's Audit Committee.

Trading Plan Details and Cancellation

The trading plan was originally submitted by Mr. Amit Agarwal, Executive Director and Group CFO of DCM Shriram Limited , on August 26, 2025, under Regulation 5(5) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The executive subsequently requested cancellation of the plan due to unpublished price sensitive information (UPSI) in his possession.

Regulatory Compliance and Approval Process

The cancellation request was formally presented to the company's Audit Committee during their meeting held on January 20, 2026. After due consideration, the Audit Committee determined that the request for cancellation was bonafide and granted approval in accordance with the applicable provisions of the SEBI PIT Regulations.

The company cited that the UPSI in Mr. Agarwal's possession at the time of formulating the trading plan would not become generally available or public at the commencement of its implementation, necessitating the cancellation to maintain regulatory compliance.

Stock Exchange Communication

DCM Shriram Limited formally notified both major Indian stock exchanges about this development:

• BSE Limited (Scrip Code: 523367)
• National Stock Exchange of India Limited (Scrip Code: DCMSHRIRAM)

The communication was signed by Deepak Gupta, Company Secretary and Compliance Officer, and requested the exchanges to update their records and disseminate the information on their websites. This transparent disclosure demonstrates the company's commitment to maintaining proper regulatory compliance and keeping stakeholders informed about material corporate developments.