DCM Shriram Limited reported higher consolidated profit at Rs350cr in Q3FY22 against Rs253cr in Q3FY21, an increase of 38% yoy. Revenue from operations rose to Rs2,730cr from Rs2,159cr yoy, a rise of 26.5% yoy.
The company said growth in revenues was led by Chloro-vinyl, Fenesta, and Shriram Farm Solutions. Chloro-Vinyl revenues up 90% yoy at Rs1,042cr primarily led by prices. Shriram Farm Solutions revenues up 13% yoy at Rs446cr led by volumes. Fenesta revenues up 26% yoy at Rs137cr driven by volumes and prices. Sugar revenues down 14% yoy, at Rs565cr primarily due to lower sugar volumes despite better prices, led by lower monthly releases. Cane crush during the current season is higher than same period last year.
Profit Before Deduction of Income Tax (PBDIT) up 46% yoy at Rs614cr. Chloro-Vinyl PBDIT at Rs411cr, up 107% yoy. Sugar Business PBDIT up 13% yoy at Rs132cr.
Surplus cash net of debt at December 31, 2021 is Rs245cr vs net debt of Rs385cr at December 31, 2020.  ROCE came in higher at 27% vs 17% for Dec’20.
Second Interim Dividend declared by the Board at 260% amounting to Rs81.1cr.
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