DCM Shriram Q4 FY2024 Results: PAT Rs. 117.80 cr, and Revenue stood at Rs. 2555.43 cr

Synopsis:

DCM Shriram announced its quarterly results for the period ending in March 2024 on 6th May after market hours. The company reported a PAT of Rs. 117.80 cr for Q4 FY2024. Its revenue for Q4 FY2024 decreased by 11.11% on a YOY basis, reaching Rs. 2555.23 cr. EBITDA for Q4 FY2024 was Rs. 289.29 cr.

Quarter Result Performance

DCM Shriram's revenue for Q4 FY2024 decreased by 11.11% on a YOY basis, reaching Rs. 2555.23 cr from Rs. 2874.44 cr in Q4 FY2024. On a quarterly basis, DCM Shriram reported a decrease of 19.46% in its revenue. It reported a net profit of Rs. 117.80 cr for Q4 FY2024 from Rs. 240.48 cr in Q3 FY 2024 and Rs. 186.67 cr in Q4 FY 2023, a drop of 51.01% and 36.89%. EBITDA dropped by 22.23% on a YOY basis. 

For the full financial year ending in March 2024, the net profit stood at Rs. 447.10 cr compared to Rs.910.84 cr in FY 2023, down by 50.91%. For FY 2024, its revenue stood at Rs. 11,529.83 cr compared to Rs. 12,199.19 cr in FY 2023. EBITDA also slashed by 37% on a YOY basis.

DCM Shriram also announced a final dividend of Rs. 2.60 per equity share having a face value of Rs. 2 at 130% for FY2024. This lead the total dividend for FY 2024 to reach Rs. 6.60 per share having a Rs. 2 face value at 330%. It had announced an interim dividend in February this year at Rs. 4 per share.

Commenting on the company’s result announcement, Mr. Ajay Shriram, Chairman & Senior Managing Director and Mr. Vikram Shriram, Vice Chairman & Managing Director, said, “Global economic uncertainties continue to escalate with the addition of conflict in the middle eastern region. Consequent supply chain disruptions and market volatility may lead to deferment of rate cuts by the central banks and this might have an adverse impact on the overall business sentiments globally. India is better placed in terms of healthy and steady GDP growth albeit not immune to these conditions. Our Company with its diverse set of businesses, continuous focus on cost efficiency and strong balance sheet has demonstrated that it is well equipped to handle the uncertain business environment. ”

“Our capex in Chemical business is nearing completion. We have commissioned 850 TPD Chlor-alkali project. Other projects will be commissioned over Q1 and Q2 of FY 25. Expansion of sugar capacity and CBG project in Sugar business are progressing as per schedule. Sustainability remains at the core of our business philosophy and our acts are directed towards environment stewardship in the areas of energy efficiency, water conservation and supporting the circular economy. The commissioning of new projects in the Chemical business will usher in a new era of growth. We continue to evaluate adjacencies to enhance our portfolio in our core businesses” they added.

About DCM Shriram

DCM Shriram Ltd. runs diverse business segments including the Agri-Rural value chain and the Chloro-Vinyl industry. The company also has an innovative value-added business, Fenesta.