DCM Shriram Ltd Share Price – NSE /  BSE

Diversified, Small Cap

DCM Shriram announced that the company has on 19 November 2024 achieved 2100 TCD expansion of Sugar Plant at Loni Unit, Uttar Pradesh, by increasing cane crushing capacity from 7300 TCD to 9400 TCD. This expansion will growth-capture cane potential within catchment area of the Company.

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The key equity indices traded with limited losses in early afternoon trade. The Nifty traded below the 24,250 mark. FMCG shares advanced after declining in the past two consecutive trading sessions. Trading could be volatile due to monthly F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 488.86 points or 0.60% to 79,453.01. The Nifty 50 index fell 119.80 points or 0.49% to 24,221.95.

In the broader market, the S&P BSE Mid-Cap index fell 0.35% and the S&P BSE Small-Cap index rose 0.76%.

The market breadth was strong. On the BSE, 2,415 shares rose and 1,249 shares fell. A total of 136 shares were unchanged.

Both, BSE and NSE will conduct the Muhurat trading session on Friday, 1 November, from 6:00 pm to 7:00 pm. While markets remain closed during the day, this evening session allows investors to make token investments, following a long-standing custom of trading during Diwali.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.20% to 16.01. The Nifty 31 October 2024 futures were trading at 24,215.40, at a premium of 6.55 points as compared with the spot at 24,221.95.

The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 293.1 lakh contracts at the 24,250 strike price. Maximum Put OI of 228.3 lakh contracts were seen at 24,200 strike price.

Buzzing Index:

The Nifty FMCG index fell 1.10% to 59,093.05. The index slipped 41.8% in past two trading sessions.

Balrampur Chini Mills (down 6.25%), Tata Consumer Products (down 1.98%), Marico (down 1.91%), Varun Beverages (down 1.68%) and Procter & Gamble Hygiene and Health Care (down 1.54%), Radico Khaitan (down 1.53%), Colgate-Palmolive (India) (down 1.38%), United Breweries (down 1.32%), Godrej Consumer Products (down 1.12%) and ITC (down 1.02%) declined.

Stocks in Spotlight:

DCM Shriram gained 2.09% after the company reported consolidated net profit surged 95.16% to Rs 62.92 crore on 10.79% rise in total revenue from operations to Rs 3,130.09 crore in Q2 FY25 over Q2 FY24.

Elpro International zoomed 9.22% after the company announced the acquisition of 33.33 lakh shares of Sagility India for a total consideration of Rs 10 crore.

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Profit before tax in second quarter of FY25 was at Rs 95.77 crore, up 101.83% from Rs 47.45 crore recorded in the corresponding quarter last year.

For Q2 FY25, the revenue from the Sugar business was Rs 1,167.38 crore (up 7.37% YoY), Chloro-Vinyl segment revenue was Rs 777.36 crore (up 11.97% YoY) and Fertilizers business revenue was Rs 387.11 crore (up 5.0565% YoY).

Further, revenue from SFS segment was Rs 371.65 crore (up 32.76% YoY), Fenesta building system segment revenue was Rs 221.62 crore (up 6.04% YoY) and that from Bioseed was Rs 158.78 crore (up 24.09% YoY).

Ajay Shriram, chairman & senior managing director and Vikram Shriram, vice chairman & managing director, in joint statement stated, “The world is experiencing a ‘geopolitical recession’ marked by a complex interplay of rising geopolitical tensions among global powers, economic challenges, climate changes and technological advancements, requiring careful navigation by governments, businesses, and international organizations. India's economic performance and outlook is more resilient compared to the global situation.

Global caustic prices are range bound and demand remains balanced. Surplus capacities in India has led to lower capacity utilizations & subdued product prices. The sector has benefitted from reduced carbon costs. The newly commissioned 120 MW power plant has started yielding positive results. Our capex in chemical business is nearing completion. We have commissioned the Hydrogen Peroxide plant and expect to commission ECH plant in fourth quarter.

Sugar business is stable. With increased sugar inventory levels, the government has allowed ethanol production from cane juice and B-heavy molasses. Further, industry is advocating for allowing Sugar exports. The Sugar prices are not commensurate with increase in cost of production in the last season. Sugar cane crushing for season 24-25 has started. Fenesta Building Systems is investing into building and strengthening new revenue platforms which shall foster future growth of business. Shriram Farm Solution business continues with its growth driven by its approach of providing new technology products to farmers.

We have announced chlorine downstream projects in Chemicals with an investment of Rs 310 crore. We are adding to our green energy portfolio with an investment of Rs 76 crore to supply upto 68 MW of captive renewable energy at our Kota complex in Rajasthan. Further, in order to strengthen the customer experience and grow Fenesta’s Aluminium windows business we are investing Rs 149 crore in Aluminium extrusion. These investments will go a long way in strengthening our businesses.”

Meanwhile, the board approved an equity investment of upto Rs 60 crore for upto 28% of equity stake in one or more special purpose vehicle(s) for setting up a wind solar hybrid renewable power project for replacing existing coal based 40 MW power with 68 MW RE Power.

Further, the board of directors approved a capex proposal of Rs 310 crore to set up an additional aluminium chloride facility of 100 TPD and a new granulated calcium chloride facility of 225 TPD at Jhagadia in Bharuch.

Lastly, the company’s board has approved a capex proposal of Rs 149 crore for an Aluminium Extrusion & Surface Finish Project at Kota.

DCM Shriram is a diversified company with presence agri-rural business, chloro-vinyl business and value-added business (fenesta building systems-UPVC windows & doors).

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DCM Shriram has fixed 11 November 2024 as the record date for the purpose of payment of interim dividend.

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