DCM Shriram Ltd

DCM Shriram is a leading business conglomerate with a group turnover of Rs. 7,771 crores. The business portfolio of DCM Shriram comprises primarily of Agri-Rural Business, Chlor-Vinyl Business, and Value added business such as Fenesta Building Systems- UPVC Windows & Doors.

Pros:
Company has good consistent profit growth of 24.34% over 5 years
Company has been maintaining a healthy dividend payout of 17.45%
Cons:
The company has delivered a poor growth of 4.74% over past five years.
Company might be capitalizing the interest cost

Peer Comparison Sector: Diversified // Industry: Diversified - Mega

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
1,343 1,361 1,602 1,919 1,577 1,761 1,550 2,037 1,683 2,090 1,874 1,864
1,217 1,165 1,364 1,590 1,288 1,429 1,458 1,704 1,384 1,754 1,476 1,521
Operating Profit 126 196 238 328 289 332 93 333 299 336 398 343
OPM % 9% 14% 15% 17% 18% 19% 6% 16% 18% 16% 21% 18%
Other Income 14 16 -76 13 16 21 13 10 17 21 38 24
Interest 13 18 22 25 20 16 20 33 38 22 25 37
Depreciation 26 30 32 31 35 36 36 36 37 39 43 49
Profit before tax 101 164 108 286 250 300 50 274 241 296 369 281
Tax % 0% 9% 13% 18% 31% 26% -25% 20% 27% 24% 22% 24%
Net Profit 100 149 94 233 172 221 62 219 175 224 288 214
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
2,690 2,479 3,405 3,402 4,082 4,956 5,400 6,082 5,500 5,735 5,732 6,807 7,512
2,488 2,304 3,084 3,106 3,888 4,648 4,898 5,546 5,083 5,196 4,930 5,765 6,135
Operating Profit 202 175 322 296 194 308 502 536 417 539 802 1,042 1,377
OPM % 8% 7% 9% 9% 5% 6% 9% 9% 8% 9% 14% 15% 18%
Other Income 34 814 47 54 14 -14 -2 51 57 56 -27 63 101
Interest 77 85 147 86 101 158 153 146 109 85 73 82 122
Depreciation 90 122 146 160 158 154 144 134 107 95 111 138 168
Profit before tax 69 783 76 104 -51 -18 204 307 257 415 591 885 1,187
Tax % 33% 14% -34% 31% 40% 19% 7% 11% 6% 15% 12% 22%
Net Profit 46 671 102 71 -31 -14 191 275 242 353 522 688 902
EPS in Rs 2.62 39.68 5.97 4.14 0.00 0.00 11.23 16.76 14.44 21.06 31.99 42.18
Dividend Payout % 29% 8% 13% 19% -22% -47% 14% 12% 15% 15% 18% 19%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:10.63%
5 Years:4.74%
3 Years:7.36%
TTM:8.46%
Compounded Profit Growth
10 Years:105.68%
5 Years:24.34%
3 Years:41.87%
TTM:33.71%
Return on Equity
10 Years:15.00%
5 Years:20.20%
3 Years:22.46%
Last Year:24.09%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
33 33 33 33 33 33 33 33 33 33 33 33 31
Reserves 518 1,112 1,198 1,254 1,228 1,206 1,367 1,641 1,824 2,113 2,515 3,045 3,521
Borrowings 1,521 1,758 1,962 1,452 1,669 1,789 1,527 1,155 744 1,059 1,073 756 1,476
1,071 701 789 823 943 1,568 1,724 2,013 1,827 2,016 2,199 2,182 2,101
Total Liabilities 3,143 3,604 3,983 3,562 3,874 4,597 4,651 4,841 4,429 5,221 5,821 6,016 7,130
1,647 1,694 2,112 2,011 1,914 1,801 1,462 1,414 1,346 1,336 1,930 2,118 2,586
CWIP 102 270 29 27 28 27 16 21 31 325 33 86 309
Investments 34 55 56 59 50 50 47 238 45 99 26 67 75
1,361 1,585 1,787 1,465 1,882 2,719 3,127 3,167 3,007 3,461 3,832 3,745 4,161
Total Assets 3,143 3,604 3,983 3,562 3,874 4,597 4,651 4,841 4,429 5,221 5,821 6,016 7,130

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
221 -512 271 703 -56 308 274 961 186 128 790
-561 421 -335 -66 -69 -77 82 -190 195 -361 -452
360 84 49 -622 125 -107 -442 -580 -585 174 -169
Net Cash Flow 20 -6 -15 15 1 125 -85 190 -203 -58 170

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 7% 4% 7% 6% 2% 6% 14% 15% 13% 17% 22% 26%
Debtor Days 68 35 36 20 33 49 62 59 67 80 62 48
Inventory Turnover 5.39 3.34 3.69 4.04 4.68 4.34 4.09 4.99 5.05 4.87 4.01 4.24