DCW Investor Presentation: Q2/H1-FY27 Financials and Growth Plans
DCW reported Q2-FY27 revenue of ₹6,629 million (up 22.9% YoY) and H1-FY27 revenue of ₹12,048 million (up 18.7% YoY). H1-FY27 PAT surged 78.2% to ₹449 million. The company announced capex plans of ₹250 crore over 2-3 years, including a 7,000 MT SIOP expansion by Q4-FY28.
The investor presentation provides detailed financial performance, segmental analysis, and forward-looking capex plans, which are crucial for investors to assess the company's growth trajectory and future prospects.
The company reported strong year-on-year revenue growth for Q2 and H1-FY27, alongside a significant increase in PAT and EPS for H1-FY27. Future capex plans indicate a focus on expansion and growth.
DCW Limited has released its investor presentation for the quarter and half-year ended September 30, 2026 (Q2/H1-FY27). The company reported a significant year-on-year increase in revenue from operations for Q2-FY27, growing by 22.9% to ₹6,629 million, driven by a 31.5% rise in Specialty Chemicals and a 19.9% increase in Basic Chemicals. This growth was attributed to higher CPVC volumes post-capacity expansion and increased volumes and realisations in Caustic Soda and Synthetic Rutile.
Sequentially, Q2 revenue grew by 22.3% QoQ. However, EBITDA saw a year-on-year decline of 18.1% to ₹475 million, impacted by a 33.2% drop in Specialty Chemicals EBITDA due to contracting PVC-CPVC spreads and elevated ocean freight costs. Basic Chemicals EBITDA turned profitable sequentially, increasing to ₹128 million from a loss of ₹188 million.
For H1-FY27, revenue from operations grew by 18.7% YoY to ₹12,048 million. Profit After Tax (PAT) saw a substantial increase of 78.2% YoY to ₹449 million, with PAT margins improving to 3.73%. Diluted EPS for H1-FY27 stood at ₹1.52, a significant jump from ₹0.85 in H1-FY26.
The presentation also highlighted future growth plans, including a total expansion in SIOP by 15,000 MT over the next 2-3 years, with Phase I aiming for 7,000 MT by Q4-FY28. A Power Plant Efficiency Capex is also planned for Q4-FY28 to improve power generation efficiency and reduce costs. The total estimated capex for these projects is ₹250 crore.
The company emphasized its strategic shift towards specialty chemicals, which now contribute 28% of segmental revenue, up from 0.5% in FY16. DCW also highlighted its strong market position, diversified product mix, and strategic advantages such as its manufacturing facility location and land bank.
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DCW Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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