DCM Shriram Q4 net marginally up at Rs 82.80 crore

Diversified group DCM Shriram today reported a marginal increase in net profit at Rs 82.80 crore for the quarter ended on March 31, 2014.
It had posted a net profit of Rs 82.33 crore in the year ago period.
Total income during the January-March quarter of fiscal 2013-14 increased to Rs 1,479 crore as against Rs 1,427 crore in the year ago period.
For the year 2013-14, company reported 19 per cent increase in net profit at Rs 242.38 crore as compare to Rs 202.88 crore in the last year, on account of increase in earnings from farm solutions and chloro vinyl businesses.

Total income for the year ended on March 31 rose to Rs 6,182.19 crore from Rs 5,538.85 crore in the year 2012-13.
"We are delighted to report encouraging performance led by chloro vinyl and Shriram Farm Solutions business and supported by operating breakdown in Fenesta and elimination of losses in Hariyali business," Chairman and Senior Managing Director Ajay Shriram said in a statement.

However, company's sugar business swung into losses to Rs 234 per quintal in the year 2013-14 from profit of Rs 196 per quintal in 2012-13.
"Sugar business went through turmoil, a result of lack of correlation between cane and sugar prices leading to negative margins. Sugar prices have firmed up recently but are insufficient to make business profitable," Vice Chairman and Managing Director Vikram Shriram said.

Both Chairman and Vice Chairman added that they have strengthened financial position of the company by conserving cash and reducing leverage. And in coming year, focus will be on improving operating efficiencies and cash flows.
DCM Shriram is an integrated business entity with presence in sectors like sugar, fertilisers, chloro-vinyl, bioseeds, cement, and rural retail chain Hariyali Kisaan Bazaar.