DCM Shriram’s Q2 net profit skyrockets ~96% in Q2FY25

31 Oct 2024 , 04:01 PM

DCM Shriram Ltd reported a 95.7% year-on-year (YoY) increase in net profit to ₹63 Crore for the second quarter ended September 30, 2024. In the preceding fiscal quarter, DCM Shriram reported a net profit of ₹32.2 Crore, according to a regulatory filing.

Revenue from operations climbed by 10.8% to ₹3,130.1 Crore, up from ₹2,825.4 Crore the previous year. In Q2 of FY24, EBITDA was ₹114.1 Crore, but in Q2 of this fiscal, it increased by 58.8% to ₹181.2 Crore.

The EBITDA margin was 5.8% in the reporting quarter, up from 4% in the same period last fiscal year.

The board of directors has declared an interim dividend for the fiscal year 2024-25 on the company’s paid-up equity share capital at 100% (₹2 per equity share with face value of ₹2). The record date for the interim dividend will be November 11, 2024. Furthermore, the interim dividend will be paid/distributed to all qualifying shareholders on or before November 28, 2024.

The board has approved an equity investment of up to ₹60 Crore for roughly 28% equity stake in one or more special purpose companies to set up a wind solar hybrid renewable power project, replacing existing coal-based 40 MW power with 68 MW RE (renewable energy) power. The board approved a capital investment of ₹23 Crore for this project in Kota, Rajasthan.

The board approved a ₹310 Crore capex plan to establish a 100 TPD aluminium chloride facility and 225 TPD granulated calcium chloride facility in Jhagadia, Bharuch.

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