DCM Shriram Ltd reported a 95.16 per cent increase in consolidated net profit at Rs 62.92 crore in the second quarter of fiscal 2024-25, compared to Rs 32.24 crore in the same period a year earlier. In a regulatory filing, the company said its total income rose 11.81 per cent to Rs 3,183.98 crore in Q2 FY25 from Rs 2,847.42 crore in the year-ago quarter. Expenses increased 10.29 per cent to Rs 3,088.21 crore. The company's board approved an equity investment of up to Rs 60 crore for up to 28 per cent stake in one or more SPVs to set up a 68 MW wind-solar hybrid renewable power project. It approved a capex (capital expenditure) of Rs 23 crore for the renewable power project in Kota, Rajasthan. The board approved a capex of Rs 310 crore to set up a 100 TPD aluminium chloride facility and a 225 TPD granulated calcium chloride facility at Jhagadia, Bharuch. That apart, it approved a capex of Rs 149 crore for an aluminium extrusion and surface finish project at Kota. The company is a
In August 2023, DCM Shriram Group approved a scheme of arrangement involving amalgamation of Lily Commercial Pvt. Ltd. with DCM Shriram Industries Ltd.
Life Insurance Corporation (LIC) on Tuesday said it has pared its stake in DCM Shriram Industries by more than 2 per cent to 4.66 per cent over a period of about three years. In a regulatory filing, LIC said there is a net decrease of 2.016 per cent in its holding in DCM Shriram during the period October 8, 2021, and September 13, 2024. The shares were sold at an average price of Rs 110.072. "...the Life Insurance Corporation of India has decreased its shareholding in equity shares of DCM Shriram Industries Ltd from 58,06,760 to 40,52,635 i.e., 6.675 per cent to 4.659 per cent of the paid-up capital of the said company," LIC said. DCM Shriram Industries is primarily engaged in production and sale of sugar, alcohol and industrial fibres. Shares of DCM Shriram Industries settled 1.77 per cent lower at Rs 194 apiece on the BSE.
DCM Shriram Industries on Monday posted a 23 per cent rise in consolidated net profit at Rs 38.64 crore for the fourth quarter of the 2023-24 fiscal from a year earlier, on lower expenses. The company, which is into sugar, industrial fibre and chemicals business, had reported a net profit of Rs 31.53 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total income declined to Rs 516.61 crore during January-March quarter of the 2023-24 fiscal from Rs 541.58 crore in a year earlier. Expenses, however, remained lower at Rs 461.75 crore as against Rs 493.60 crore in the said period. For the full fiscal year 2023-24, DCM Shriram Industries posted a 92 per cent jump in consolidated net profit to Rs 115.39 crore, compared with Rs 60.16 crore in the previous fiscal year. The company's board did not recommend a final dividend in view of the need for conservation of resources for debt servicing and expected capital expenditure.
Indian Sugar Mills Association (ISMA) on Tuesday said it has requested the government to permit diversion of additional 10-12 lakh tonnes of sugar for ethanol production in the current season, amid reports of higher output. The government has capped sugar diversion for ethanol making at 17 lakh tonnes for the current 2023-24 season (October-September) in view of likely fall in sugar production due to drought in parts of Maharashtra and Karnataka. Till January 15 of the ongoing season, ISMA said mills have manufactured 149.52 lakh tonnes of the sweetener, down by 5.28 per cent from 157.87 lakh tonnes in the year-ago period. However, as per reports, recent weather has been favourable for the standing cane crop and cane commissioners of major states like Uttar Pradesh, Maharashtra and Karnataka have done upward revision in their sugar production estimates for 2023-24 SS to the tune of 5-10 per cent each," ISMA said in a statement. "We also believe that sugar production in the current
Currently, the company has significant Chlor Alkali facilities in Bharuch and aims at increasing the existing capacities while adding new products to its Chlor-Alkali portfolio
DCM Shriram, which has a presence in sugar, fertiliser and chemical businesses, has raised a Sustainability Linked Loan (SLL) of Rs 200 crore from HSBC India to fund its capex plan in Gujarat. This strategic financial move is aimed at supporting the company's ongoing capital expenditure programme in Bharuch, Gujarat, it said in a statement. "This is our first Sustainability Linked Loan obtained from HSBC India, marking our unwavering dedication to our Environmental, Social, and Governance (ESG) objectives," Amit Agarwal, Executive Director & Group CFO of DCM Shriram Ltd, said. "We have embarked on projects worth approximately Rs 3,500 crore, predominantly within our sugar and chemical divisions. Notably, projects in our sugar business have already been commissioned, while those in the chemicals business are nearing completion," he said. Ajay Sharma, Head-Commercial Banking at HSBC India, said it is committed to providing financing to support and incentivise the transition to a ...
DCM Shriram Ltd, which is into chemicals, sugar, bioseed and fertiliser businesses, on Friday reported a marginal decline in its December quarter consolidated net profit to Rs 342.09 crore. Its net profit stood at Rs 349.57 crore in the year-ago period. Total income rose 21 per cent to Rs 3,417.06 crore during October-December quarter of this fiscal from Rs 2,815.95 crore in the corresponding period of the previous year. During the April-December period of 2022-23 financial year, the net profit rose to Rs 724.17 crore from Rs 664.94 crore a year ago. Total income rose to Rs 9,324.75 crore in the first nine months of the current fiscal from Rs 7,039.67 crore in the corresponding period of the previous year. Ajay Shriram, Chairman & Senior Managing Director, said the company has reported another consistent quarter of robust performance with positive/stable outlook across all the businesses. "The operating environment is very challenging globally. Russia-Ukraine conflict does not ..
The company's profit after tax (PAT) stood at Rs 231.24 crore during the corresponding period of 2020-21
Despite the market volatility, the stock of JINDAL STEEL has been doing really well recently
In the past three months, DCM Shriram has rallied 67 per cent after the company reported a strong operational performance for the quarter-ended December 2020
DCM Shriram Industries on Friday posted a 38.31 per cent decline in consolidated net profit to Rs 15.65 crore for the December 2020 quarter.
The other investors include DCM Shriram Promoters Family and SAIF Partners
Stock price rose by 8.61% to Rs 148.25 a piece on the BSE at 1811 hours