DCW Ltd
DCW Ltd is engaged in manufacture and sale of a diverse range of products with a focus on commodity chemicals, specialty chemicals and intermediate products.[1]
It was started as Dhrangadhra Chemical Works in 1939 when it took over the India's first Soda Ash facility at Dhrangadhra which was established in 1925.[2]
- Market Cap ₹ 1,389 Cr.
- Current Price ₹ 47.1
- High / Low ₹ 76.4 / 37.1
- Stock P/E
- Book Value ₹ 26.2
- Dividend Yield 0.64 %
- ROCE 1.23 %
- ROE -0.73 %
- Face Value ₹ 2.00
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 4.14% over past five years.
- Company has a low return on equity of 9.07% over last 3 years.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Chemicals Chemicals & Petrochemicals Petrochemicals
Part of BSE Commodities
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|
| 751 | 906 | 1,023 | 1,057 | 1,183 | 1,327 | 1,324 | 1,253 | |
| 663 | 848 | 843 | 970 | 1,058 | 1,078 | 1,194 | 1,187 | |
| Operating Profit | 88 | 58 | 180 | 88 | 125 | 248 | 130 | 66 |
| OPM % | 12% | 6% | 18% | 8% | 11% | 19% | 10% | 5% |
| 8 | 36 | 2 | 26 | 5 | -3 | 1 | -0 | |
| Interest | 15 | 33 | 39 | 30 | 34 | 32 | 27 | 19 |
| Depreciation | 30 | 41 | 49 | 48 | 51 | 53 | 51 | 52 |
| Profit before tax | 51 | 20 | 94 | 36 | 46 | 160 | 52 | -5 |
| Tax % | 30% | 29% | 28% | 19% | 33% | 35% | 27% | 24% |
| 36 | 14 | 68 | 29 | 31 | 105 | 38 | -6 | |
| EPS in Rs | 1.82 | 0.73 | 3.45 | 1.47 | 1.51 | 5.00 | 1.81 | -0.28 |
| Dividend Payout % | 16% | 41% | 10% | 24% | 24% | 7% | 20% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 2% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -111% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 5% |
| 3 Years: | -5% |
| 1 Year: | -37% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 9% |
| Last Year: | -1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 41 | 42 | 42 | 43 |
| Reserves | 269 | 276 | 335 | 356 | 386 | 486 | 515 | 517 |
| 379 | 425 | 313 | 331 | 447 | 544 | 671 | 779 | |
| 298 | 287 | 355 | 369 | 403 | 477 | 562 | 507 | |
| Total Liabilities | 985 | 1,028 | 1,043 | 1,094 | 1,277 | 1,548 | 1,790 | 1,846 |
| 560 | 689 | 642 | 607 | 687 | 664 | 661 | 635 | |
| CWIP | 152 | 66 | 90 | 178 | 216 | 442 | 718 | 849 |
| Investments | 13 | 0 | 1 | 0 | 0 | 0 | 0 | -0 |
| 261 | 271 | 310 | 309 | 373 | 443 | 411 | 362 | |
| Total Assets | 985 | 1,028 | 1,043 | 1,094 | 1,277 | 1,548 | 1,790 | 1,846 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|
| 95 | 59 | 184 | 109 | 92 | 206 | 232 | 69 | |
| -259 | -49 | -38 | -89 | -161 | -261 | -325 | -157 | |
| 178 | -13 | -146 | -20 | 73 | 53 | 92 | 89 | |
| Net Cash Flow | 14 | -3 | 0 | -0 | 4 | -2 | -2 | 1 |
| Free Cash Flow | -153 | -7 | 146 | 18 | -69 | -55 | -94 | -90 |
| CFO/OP | 117% | 106% | 112% | 137% | 82% | 92% | 194% | 112% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 32 | 39 | 36 | 32 | 23 | 26 | 26 | 28 |
| Inventory Days | 116 | 73 | 100 | 65 | 98 | 147 | 110 | 87 |
| Days Payable | 164 | 105 | 149 | 117 | 130 | 136 | 204 | 155 |
| Cash Conversion Cycle | -16 | 8 | -12 | -19 | -9 | 37 | -68 | -40 |
| Working Capital Days | 16 | 25 | 13 | 1 | -42 | -27 | -39 | -70 |
| ROCE % | 8% | 19% | 8% | 10% | 20% | 7% | 1% |
Insights
In beta| Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| C-PVC Capacity Utilization % |
|
|||||||
| Caustic Soda Capacity Utilization % |
||||||||
| PVC Capacity Utilization % |
||||||||
| SIOP Capacity Utilization % |
||||||||
| Soda Ash Capacity Utilization % |
||||||||
| C-PVC Production Volume MT |
||||||||
| SIOP Production Volume MT |
||||||||
| Specialty Chemicals Revenue Share % |
||||||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Advertisements regarding 87th AGM of the Company
-
Reg. 34 (1) Annual Report.
- DCW’s 87th AGM is scheduled for September 26, 2026; FY2025-26 annual report submitted.
-
Letters Sent To Shareholders Providing Weblink Of The Annual Report
- DCW schedules 87th AGM on Sept 26, 2026; record date Sept 19, e-voting Sept 23-25, dividend after Sept 27.
-
Business Responsibility and Sustainability Reporting (BRSR)
- DCW Limited filed its BRSR for FY 2025-26, covering ESG, workforce, and compliance disclosures.
-
Notice Of Eighty Seventh (87Th) Annual General Meeting
- DCW AGM on 26 Sep 2026; final dividend ₹0.20/share, Ashish Jain reappointment, Adhiraj Harish independent director appointment.
Annual reports
-
Annual Report 2026
from bse
-
Annual Report 2025
from bse
-
Annual Report 2024
from bse
-
Annual Report 2023
from bse
-
Annual Report 2022
from bse
-
Annual Report 2021
from bse
-
Annual Report 2020
from bse
-
Annual Report 2019
from bse
-
Annual Report 2018
from bse
-
Annual Report 2017
from bse
-
Annual Report 2016
from bse
-
Annual Report 2015
from bse
-
Annual Report 2014
from bse
-
Annual Report 2013
from bse
-
Annual Report 2013
from nse
Concalls
-
Aug 2026Transcript PPT REC
-
May 2026Transcript PPT
-
Feb 2026Transcript PPT
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT
-
May 2025Transcript PPT
-
Mar 2025Transcript PPT
-
Feb 2025TranscriptAI SummaryPPT
-
Nov 2024Transcript PPT
-
Aug 2024Transcript PPT
-
May 2024Transcript PPT
-
Mar 2024Transcript PPT
-
Feb 2024TranscriptAI SummaryPPT
-
Nov 2023Transcript PPT
-
Sep 2023TranscriptAI SummaryPPT
-
Aug 2023Transcript PPT
-
Jul 2023TranscriptAI SummaryPPT
-
May 2023Transcript PPT
-
Feb 2023Transcript PPT
-
Nov 2022Transcript PPT
-
Aug 2022TranscriptAI SummaryPPT
-
May 2022TranscriptAI SummaryPPT
-
Feb 2022TranscriptAI SummaryPPT
-
Nov 2021TranscriptAI SummaryPPT
-
Aug 2021TranscriptAI SummaryPPT
-
May 2021TranscriptAI SummaryPPT
-
Feb 2021TranscriptAI SummaryPPT
-
Dec 2020TranscriptAI SummaryPPT
Business Segments[1]
a) Basic Chemicals (71% in FY26 vs 73% in FY25):[2]
The segment comprises 3 core products including Soda Ash, Caustic Soda, and PVC. Soda Ash (Sodium Carbonate) is a key raw material used in detergents, glass manufacturing, textiles, dyes and intermediates, and pharmaceuticals. Caustic Soda is widely used in pulp and paper, alumina refining, soaps and detergents, petroleum processing, and chemical manufacturing, whereas PVC (Polyvinyl Chloride) is used in pipes, automotive components, sanitary fittings, wire and cable insulation, flexible hoses, and packaging.