DCM Shriram Limited , a diversified Indian conglomerate, and Bayer CropScience Limited, a global leader in crop solutions, officially signed a Memorandum of Understanding (MoU) on December 10, 2025, to jointly explore opportunities that strengthen India's agriculture ecosystem through innovation, sustainability, and farmer-centric solutions. This strategic collaboration marks a significant milestone in advancing sustainable and future-ready agriculture practices.

Strategic Partnership Framework

The MoU establishes a comprehensive strategic framework for collaboration across multiple critical areas of agricultural development:

Leadership Vision and Commitment

Mr. Ajay S. Shriram, Chairman & Senior Managing Director, and Mr. Vikram S Shriram, Vice Chairman & Managing Director of DCM Shriram Limited, expressed their enthusiasm about the partnership, stating they are delighted to partner with Bayer to explore new avenues that can benefit India's farming communities. The leadership emphasized their aim to support sustainable and productive agriculture while creating long-term value for farmers and the wider ecosystem by bringing together complementary strengths.

Mr. Simon Wiebusch, Chief Executive Officer of Bayer CropScience Limited, highlighted that Indian agriculture is entering a phase where resilience and value-chain integration will define long-term success. He noted that the partnership will enhance market access, strengthen value-chain connections, and help farmers tap into emerging opportunities through combined and complementary expertise that enables scaling solutions quickly.

Financial Foundation for Growth

DCM Shriram's robust financial position provides strong support for this strategic expansion:

Market Impact and Future Outlook

This collaboration brings together Bayer's global expertise in advanced agricultural solutions with DCM Shriram's deep rural footprint and integrated agri-business capabilities. The partnership aims to enhance farmer livelihoods, improve productivity, and promote climate-resilient farming practices across India's diverse agricultural landscape.

Both organizations will assess opportunities to jointly support farmer organizations and strengthen sustainable agriculture initiatives, including pilots in soil health, carbon sequestration, and integrated crop management. The strategic alliance is positioned to create lasting positive change in Indian agriculture through innovative solutions and comprehensive ecosystem support.

DCM Shriram Consolidated , a diversified conglomerate, has reported a robust financial performance for the second quarter, with a significant boost from its chemical segment and strategic expansions.

Financial Highlights

The company's Q2 results showcase substantial growth:

Segment-wise Performance

Chemicals: A Major Growth Driver

The chemical segment emerged as the primary growth driver:

• Revenue increased by 50% year-on-year
• Caustic soda volumes up by 22%
• PBDIT surged by 195%

Key factors contributing to this growth include:

• Utilization of new 850 tons per day and flaker plant capacity
• Lower input prices and improved operating efficiencies
• A ₹76.00 crore subsidy from the Government of Gujarat for projects commissioned in FY 2017

Vinyl Segment

Despite subdued prices, the vinyl segment showed resilience:

• Revenue increased by 15% year-on-year due to higher volumes
• PBDIT slightly lower at ₹12.00 crore compared to ₹16.00 crore last year

Sugar and Ethanol

The sugar and ethanol businesses faced some challenges:

• Revenue net of excise duty decreased by 6% year-on-year
• Sugar and ethanol volumes down by 9% and 13% respectively
• PBDIT improved to ₹33.00 crore from ₹14.00 crore last year
• Positive impact of ₹15.50 crore due to upward revision of power tariff by UPPCL

Fenesta Building Systems

This segment demonstrated strong growth:

• Revenue increased by 28% year-on-year
• PBDIT up by 2%, with margins slightly lower due to product mix and higher fixed expenses

Shriram Farm Solutions

The farm solutions business continued its upward trajectory:

• Revenue increased by 27% year-on-year
• PBDIT higher by 47%
• Growth supported by volumes in research wheat and crop production verticals

Strategic Developments

DCM Shriram has made several strategic moves to strengthen its position:

1. Commissioned a 35,000 tons per annum Epichlorohydrin facility at Bharuch
2. Took full control of Hindusthan Speciality Chemicals Limited
3. Board approved acquisition of Salt works with 2.1 lakh metric tons capacity for approximately ₹175.00 crore
4. Ongoing work on aluminium chloride, calcium chloride capacities at Bharuch and a 68 megawatt green power project at Kota

Outlook

The company maintains a positive outlook, focusing on:

• Integrating business operations to capture a larger value chain
• Exploring opportunities in adjacent businesses
• Emphasizing sustainability as a core principle in investments

With a strong balance sheet and robust cash flows, DCM Shriram is well-positioned to pursue value chain opportunities aligned with its core businesses, aiming for healthy and stable growth in the future.

Dividend Announcement

The Board has declared an interim dividend of 180%, amounting to ₹56.14 crore.