DCM Shriram turns bitter after weak Q3 figures

DCM Shriram fell 1.89% to Rs 386.60 after consolidated net profit dropped 22.48% to Rs 174.35 crore on a 3.89% rise in net sales to Rs 2,188.44 crore in Q3 December 2019 over Q3 December 2018.

Consolidated profit before tax (PBT) fell 28.15% to Rs 214.52 crore in Q3 December 2019 as compared to Rs 298.57 crore in Q3 December 2018. The Q3 earnings were declared during trading hours today, 27 January 2020.

During the quarter, the company commissioned 200 KLD (kilo-litres per day) distillery at its Ajbapur sugar plant in Central Uttar Pradesh in December 2019. During this period, the Government of Himachal Pradesh also cancelled 126 MW (mega-watt) hydro project plant allotted to one of its wholly owned subsidiary which has initiated a legal action in this course of matter.

DCM Shriram declared its second interim dividend of Rs 4.20 per equity share. It fixed 7 February 2020 as the record date for the payment of interim dividend.

DCM Shriram is a diversified company with business in agri, chemicals, plastics, cement, textiles and energy services. They are having two broad operational thrusts namely, the energy intensive businesses that include chloro-vinyl chain and cement and the agri-businesses that cover urea, sugar, hybrid seeds and agri-merchandised inputs.

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