Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Oct - Special Window for re-lodgement of transfer requests of physical shares
Source: Bse
DCM Shriram Limited (DCMSHRIRAM)
Large CapDiversified stocks · Large cap · NSE
DCM Shriram Limited is a diversified Indian conglomerate with interests in Chemicals (Chlor-Alkali, Advanced Materials), Vinyl, Sugar & Ethanol, Fenesta Building Systems, and Agri-inputs (Farm Solutions, Fertilizer, Bioseed). The company focuses on deep value chain integration, stringent cost discipline, digital transformation, and execution agility.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result28 Jul, 09:48 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Diversified P/E 16.4 (n=25)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -4.1% / mo · MACD +
Stock trend: 41
Sector RS: —
Diversified FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
DCMSHRIRAMD candles · FIT view-16.7%Latest close ₹997.10 on 2026-10-21
Bar
-0.5%
RSI
52
MACD hist
6.99
52W pos
21%
2026-10-21O ₹1002.05H ₹1009.90L ₹985.00C ₹997.10Vol 82,621 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
DCMSHRIRAMNifty 500
- DCMSHRIRAM
- -3.9%
- Nifty 500
- -6.5%
- Vs Nifty 500
- +2.5 pp
Chart stats
21 Oct 2026- From 52W high
- -29.2%
- 52W range position
- 21%
- ATR (14)
- 4.4%
- Volume vs 20D
- 0.42x
- Avg traded value
- ₹20.1 Cr
- 20D price channel
- ₹886.3 - ₹1,153.9
₹1,409
₹886.3 - ₹1,409
₹43.6
Latest completed session
20-session average
65.3% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST45
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good67
Revenue +9.3% · PAT +507.9% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model+11.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 67/100Rev +9% YoY · PAT +508% YoY · +12% QoQ · operating leverage · margin compression
Filed 28 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,564 Cr | +9.3% | +11.6% |
| EBITDA | ₹337 Cr | +10.9% | -4.5% |
| Operating margin | 9.0% | +0 bps | -200 bps |
| PAT | ₹693 Cr | +507.9% | +86.8% |
| PAT margin | 19.4% | +1595 bps | +782 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 11.50
- P/B
- 2.05
- EV/EBITDA
- 9.15
- Market Cap
- 15816.00Cr
Profitability
- ROE
- 11.50%
- ROCE
- 11.50%
- ROA
- 10.17%
- Dividend Y
- 1.10%
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- 5.00%
- Revenue 3Y
- 5.00%
- EPS 3Y
- -1.00%
Balance Sheet
- Debt/Equity
- 0.38
- Interest Coverage
- 8.84×
- Altman Z
- 3.78
- Book Value
- 495.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- 1234.00 Cr
- EPS TTM
- 91.87
Shareholding
- Promoter Hold
- 66.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 24%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 13.5k+12.1% vs prev
Net Profit
₹ CrLatest: 856+41.7% vs prev
Return on Equity
%Latest: 2,761+35165.5% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 52. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~4.3% over last month) — short-term momentum negative.
- RSI(14) at 52 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 29% off 52W high · 13% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
27
RS percentile
Stage 4 Downtrend
1M return
+1.3%
3M return
-3.9%
6M return
-17.1%
1Y return
-25.0%
RS 1D
0
RS 20D
+5
Sector rank
#16
Industry rank
-
Stage evidence
- Price is 6.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.7%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 89.64+0.44%
RS vs Nifty 50090
Valuation & peers
U-Score 45 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 45 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · WATCHLISTValuation14/30
Growth6/25
Quality5/20
Balance Sheet11/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
45
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
45/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 11.9%.
- Balance sheet contributes 11/15 to the score.
Main drags
- Growth is weaker at 6/25; verify the latest quarterly trend.
- Quality is weaker at 5/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
11.5
PB
2.0
EV/EBITDA
9.2
ROE
11.5%
ROCE
11.5%
FCF Yield
—
Debt/Equity
0.4
MoS
+11.9%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
45
Previous: 45
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+11.9%
Previous: +11.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
48
48
48
48
48
42
44
44
44
44
45
45
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,011.53
+1.4% MoS
Growth-justified P/E
12.3
Growth-justified Value
₹1,131.84
+11.9% MoS
PEG
2.30
Comparable companies
Peers
Business-comparable peers in Diversified — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DCMSIL
Small
DCM Shriram International Limited
Diversified
match 146
14
278.0
2.8%
-3662%
OVERVALUED
GODREJIND
Large
Godrej Industries Limited
Diversified
match 122
19
28.2
9.3%
-19%
OVERVALUED
DVL
Small
Dhunseri Ventures Limited
Diversified
match 120
38
5.0
4.9%
-20%
WATCHLIST
GANESHBE
Small
Ganesh Benzoplast Limited
Diversified
match 119
62
13.0
10.7%
+64%
UNDERVALUED
BIRLANU
Small
BirlaNu Limited
Diversified
match 119
23
23.4
0.0%
-11041%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-13T07:15:01.650Z
Management commentary snapshot
Q1 FY27 Net Revenues grew 9% YoY to INR3,564 crore, PBDIT rose 12% YoY to INR364 crore. PAT, excluding one-time items, increased 28% YoY to INR147 crore, demonstrating resilience despite challenging global and domestic conditions.
Despite global friction and climate volatility, the company demonstrated structural resilience. Strong operating cash flows fully funded capital investments. Growth in Chemicals and Fenesta, improved profitability in Vinyl and SFS, and strategic capacity additions support the thesis, though agri-businesses faced monsoon-related challenges.
Growth engines
Value-Added Chemicals
Focus on value-added businesses like epichlorohydrin, hydrogen peroxide, epoxy, aluminum chloride, et cetera, is part of the strategy for continued growth.
Fenesta Building Systems Expansion
Fenesta is strengthening its position as an integrated building materials solution provider, driven by healthy volume growth and product portfolio expansion.
Agri R&D and Farmer Reach
Shriram Farm Solutions' R&D activities are leading to newer products, and strong farmer reach is a major driver going forward.
Strategic Acquisitions
The company is looking at buying or taking shareholding in companies affiliated to its businesses, like the epoxy factory acquisition and DNV stake in Fenesta.
Capacity and execution
Renewable Energy Capacity
Signed agreement with Serentica Renewables to source 58 MW peak hybrid renewable energy for Bharuch. Total peak renewable capacity across Bharuch and Kota expected to increase to 176 MW.
Aluminum Chloride & Calcium Chloride Projects
Projects in aluminum chloride and calcium chloride at Bharuch are in final stages of pre-commissioning, with commercial production expected in Q2 FY27.
Kota Hybrid Renewable Power Project
The 68-megawatt peak hybrid renewable power project at Kota is currently under commissioning with average power injection of 25 megawatts for July.
Fenesta Wooden Doors Facility
The Fenesta business is setting up a facility to manufacture wooden doors, expanding its product portfolio.
Tailwinds
Domestic Economic Resilience
The broader Indian economy continues to demonstrate structural resilience, supported by strong urban demand and sustained public infrastructure investment.
Domestic Caustic Soda Demand
The domestic caustic soda market remained healthy, supported by steady demand from alumina, soaps and detergents, and textile industries.
Government Support for Domestic PVC
Government reinstated basic customs duty on PVC imports and notified minimum import price, which should support domestic PVC prices.
Global Sugar Market Deficit
The global sugar market is expected to shift into a deficit in the 2026-27 season, with demand projected to exceed production by around 0.7 million metric tons.
Headwinds
Geopolitical Volatility & Inflation
West Asia conflict transmitted rapidly to energy markets and supply chains, embedding inflationary pressures and tempering global growth.
El Niño Induced Rainfall Deficits
Rainfall deficits induced by El Niño resulted in uneven regional distribution, straining rural consumption and placing upward pressure on domestic food inflation.
Global Chemical Oversupply
Excess capacities in China continued to weigh on international chemical pricing across major chemical value chains.
PVC Import Surge
Temporary waiver of basic customs duty on PVC, combined with strong Chinese imports, led to a surge in imports into India, weighing on domestic PVC sales.
Risk radar
Geopolitical Uncertainties & LNG Availability
Continued geopolitical uncertainties may impact LNG availability and lead to higher subsidy outstanding for the Fertilizer business.
Monsoon Variability
The unpredictability of monsoon patterns, especially with El Niño, poses a significant risk to the agri-businesses and rural consumption.
Chlorine Price Volatility
Chlorine prices are currently negative (minus INR7,000 to minus INR8,000 range), indicating a challenge for chlor-alkali producers.
Ethanol Policy & Pricing
A clear implementation roadmap, balanced allocation across feedstocks, and periodic alignment of ethanol procurement prices with sugarcane cost will remain important.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company's Q1 FY27 results are primarily compared against Q1 FY26. Several business segments, particularly Agri-inputs and Sugar, exhibit seasonal patterns, making year-on-year comparison more relevant for assessing performance trends.
Sector KPIs management disclosed
Chemicals Revenue Growth
The business delivered a robust 33% year-on-year growth in revenue during the quarter.
Caustic Soda Capacity Utilization
Capacity utilization during the quarter stood at 82%. This will improve further as our downstream projects get commissioned.
Hydrogen Peroxide Capacity Utilization
The plant has delivered a healthy operating performance with capacity utilization at around 85%.
Epichlorohydrin & Epoxy Capacity Utilization
Our epichlorohydrin and epoxy plants are currently operating at around 70% capacity utilization each, reflecting continuous ramp-up and stable operations.
Management forward view
Consistent Growth & Value-Added Focus
As a group, the objective is to grow consistently, with a strong focus on value-added businesses across segments.
Cost Competitiveness & Operational Excellence
Management's job is to be cost competitive, world-class in manufacturing processes, and ensure a happy customer.
Demerger Reorganization
The company is actively working on the demerger reorganization of businesses and aims to make the application to the government in this financial year.
Maximizing Asset Utilization
As major growth investments transition from execution to operations, the focus is shifting towards maximizing asset utilization and driving operational excellence.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Debt to EBITDA | 1.1 as on June 30, 2026 | Management aims to ensure debt to EBITDA does not breach 1.5, while also exploring growth opportunities. |
| Effective Tax Rate (Cash Outflow) | 19% for at least next 5 years | Monitor the actual cash tax outflow against the projected 19% due to MAT credit utilization. |
| Chlorine Integration | Almost 50% captively consumed, 85% tied up post-projects | Track the commissioning of aluminum chloride and calcium chloride projects and the actual captive consumption/tie-up of chlorine. |
| Monsoon Progress & Agri Demand | July rains patchy, 15-20% sowing shortfall in key Bioseed markets | Monitor August-September monsoon patterns and their impact on Kharif season recovery and demand for agri-input businesses. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
76Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 81st percentile of the scored universe and 83rd percentile within Diversified. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
154 docs text-extracted · 66 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Diversified: 83rd pctile, median 61 · Large: 62nd pctile, median 73
Evidence depth
Financial-only
154 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
79
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 66.5%.
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching DCM Shriram Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Credit ratingAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 1 Sep - ICRA reaffirmed/assigned ratings for Rs 3,996.78 crore facilities and fixed deposits on 31 August 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Management 19 Aug - AGM on 18 Aug 2026 approved Sanjay Kishan Kaul and Rumjhum Chatterjee as independent directors from 9 Aug 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 8 Aug - Two independent directors, Pravesh Sharma and Vikramajit Sen, cease from 9 August 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 27 Aug - Newspaper Publication for Transfer of shares to IEPF
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 25 Aug - CRISIL assigned DCM Shriram FY2026 ESG rating of 64 and core rating of 70.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug - Special Window for re-lodgement of transfer requests of physical shares
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Jul - Newspaper Publication - 100 days Saksham Niveshak Campaign
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.