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Dynamic Levels
DCM Shriram (Buy)
CMP: ₹221.00
Target: ₹280
DCM Shriram is a leading business conglomerate with a group turnover of ₹6,050 crore. The business portfolio of DCM Shriram comprises primarily of two types of businesses namely:
a) Agri-rural business: Urea & SSP fertilisers, sugar, farm inputs marketing such as DAP, crop care chemicals, hybrid seeds.
b) Chlor-vinyl business: Caustic soda, chlorine, calcium carbide, PVC resins, PVC compounds, power and cement. Also it has a value added business Fenesta Building Systems.
The company delivered a strong financial and operating performance during the year. Chemicals business performance improved led by better margins and volumes. Sugar business witnessed better margins with higher sugar recovery and firming up of sugar prices during the second half of the year. Fenesta business earnings improved on robust growth in sales volumes during the year.
Performance of the agri-input businesses faced challenges on account of deficient monsoons impacting demand and margins of hybrid seeds, agro chemicals and bulk fertilizer offerings.
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