DCM Shriram Q4 revenue rises to Rs2,191cr as demand improves

Vinyl revenues up 109% led by higher product prices.

May 05, 2021 10:05 IST India Infoline News Service

DCM Shriram Limited has announced the financial results for Q4 and FY21.

Key Highlights:
  • Revenue for Q4 FY21 at Rs2,191cr up 14% vs Q4 FY20
  • PAT for Q4 PAT FY21 at Rs232cr, up 15% vs Q4 FY20
  • Full year revenue up 7% at Rs8,308cr, PAT down 6% at Rs673cr
  • Board Recommended Final dividend of 190%
Q4 FY’21 vs Q4’FY20

Revenue increased by 14% to Rs2,19cr
  • Vinyl revenues up 109% led by higher product prices.
  • Sugar revenues up 22%, growth was led by higher volumes Ethanol and Sugar exports
  • Fenesta revenues were up 40% led by volumes growth.
PBDIT increased by 10% to Rs392cr
  • Vinyl PBDIT up at Rs127cr vs 26cr in Q4 FY20
  • Sugar PBDIT up 12% at Rs239cr
Net Debt at 31st March 2021 stood lower at Rs180cr vs Rs1,623cr at 31st March, 2020.

Projects under implementation at an investment of about Rs1,500cr at Bharuch Chemical Complex progressing as per plan.

Commenting on the performance for the quarter and financial year ending March 2021, in a joint statement, Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said, “FY’21 has been a year of disruptions caused by Covid-19. The Company adapted well to these disruptions and delivered a stable operating and financial performance. Almost all our businesses operated at normal levels in the second half of the year.

Our businesses have strengthened as a result of investments and well as rationalization made over last couple of years. We took another step towards our strategic direction of, integrating our businesses, enhancing scale and cost competitiveness, by announcing Projects in Downstream Chemicals at Bharuch.

Chemicals business which faced significant challenges for most part of the year, witnessed increased traction by end of Q4 FY’21. The 120 MW Power plant at Bharuch is expected to be commissioned in Q4 FY’22, which will add to cost competitiveness of Chemicals business.

We have over last 2-3 years invested in Distillery capacities to produce Ethanol. This has provided stability to Sugar Business. Government policies also have played a critical role in giving stability to the industry, we expect the Government to continue the policy framework in the interest of growth of Industry and farmers.

Capital employed in our fertilizer business has come down significantly with release of Subsidy by the Government in Q4 FY’21 under Atma Nirbhar Bharat Package. This should improve the returns in this business on sustainable basis.

The economic environment has again become uncertain with the new devastating wave of Covid-19, However our Balance sheet and Cash flows continue to be strong, which gives us confidence to handle uncertainties as well as provides us lot of flexibility to invest for future and enhance our growth.

In FY’21, the Company extended support to the Centre and State governments as well as local bodies in their fight against Covid-19. We will continue with our efforts to help our people, communities around us and our governments to fight this pandemic.”

At around 10:15 AM, DCM Shriram was trading at Rs722.30 per piece down by Rs6.9 or 0.95% on Sensex.

Related Story

Open Free Demat Account (Rs699)