DCM Shriram Ltd Q3 PAT up 38% at Rs349.79cr on sharp spike in Chloro Vinyl operating profit

19 Jan 2022 , 12:33 AM

DCM Shriram Ltd reported 29.78% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs2,790.78cr. On a sequential basis, the total revenues were up 28.71%.

The company saw doubling of top line revenues of Chloro Vinyl vertical to Rs1,042cr while the farm solutions revenues were also sharply higher by more than double at Rs446cr.

Revenues from sugar and bioseed were lower on a yoy basis. However, with higher global prices, the fertilizers business saw a 40% spike in business for the quarter at Rs367cr yoy.  

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 38.01% at Rs349.79cr on the back of a 118% surge in EBITDA profits of the Chloro Vinyl business. Farm solutions business and the sugar business witnessed a sharp spike in EBITDA profits for the quarter even as the Bioseeds business saw its EBITDA dipping into a wider loss in the Dec-21 quarter.

However, higher input costs in fertilizers meant that despite higher revenues, the EBIT more than halved in the quarter. PAT margins rose from 11.79% to 12.53% yoy basis.

Financial highlights for Dec-21 compared yoy and sequentially

	DCM Shriram
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 2,790.78	₹ 2,150.44	29.78%	₹ 2,168.22	28.71%
Net Profit (Rs cr)	₹ 349.79	₹ 253.45	38.01%	₹ 158.50	120.69%
Diluted EPS (Rs)	₹ 22.43	₹ 16.25		₹ 10.16
Net Margins	12.53%	11.79%		7.31%