Q4 2024 DCM Shriram Ltd Earnings Call Transcript
Key Points
- DCM Shriram Ltd (BOM:523367) has tied up INR300 crore towards sustainability-linked loans, demonstrating a strong commitment to environmental sustainability.
- The Sugar and Ethanol business performed better, with domestic sugar prices increasing by 10% year-on-year and ethanol volumes higher by 7%.
- Fenesta Building Systems reported a 21% year-on-year growth in revenues, driven by both volume and price increases, and crossed the INR1,000 crore mark in order bookings.
- Shriram Farm Solutions saw healthy growth across all verticals, including seeds, crop protection, and specialty plant nutrients, supported by enhanced demand generation and sales promotion efforts.
- The company has commissioned an 850 tonnes per day caustic soda expansion, which will add significant economies of scale to the business in the medium term.
- The Chloro-Vinyl segment faced pressure due to disproportionate capacity additions compared to demand growth in the Chlor-Alkali sector and excess global supply in the Vinyl segment.
- Net revenues for Q4 FY24 declined by 12% year-on-year, primarily due to subdued prices and lower volumes in the Chloro-Vinyl segment.
- PBDIT for Q4 FY24 was down by 22%, reflecting the challenges in the Chloro-Vinyl segment.
- The Chlor-Alkali business saw a 28% year-on-year decline in revenue and a 71% drop in PBDIT due to lower ECU realizations and slightly lower volumes.
- The company's net debt increased to INR1,434 crore as of March 31, 2024, up from INR681 crore the previous year, reflecting ongoing capital expenditure and working capital requirements.
Ladies and gentlemen, good day, and welcome to the DCM Shriram Limited Q4 FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Siddharth Rangnekar from CDR India. Thank you, and over to you, sir.
Thank you, Rayo. Good afternoon, and welcome to DCM Shriram Limited quarter four FY24 earnings conference call. Today, we have with us Mr. Ajay Shriram, Chairman and Senior Managing Director; Mr. Ajit Shriram, Joint Managing Director; Mr. Aditya Shriram, Deputy Managing Director; and Mr. Amit Agarwal, Group CFO of the company. We shall commence with remarks from Mr. Ajay Shriram and Mr. Ajit Shriram.
Members of the audience will get an opportunity to post their queries to the management following these comments during the interactive question-and-answer session. Before we commence, please note that some of the statements made on today's call could be forward-looking in nature, and a note to that effect has been included in the
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