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Prices as of 9 Oct 2026 close · Not investment advice

DCW Limited

NSE: DCWPetrochemicals

Share price

₹44.19

-0.25% close of 9 Oct 2026

Market cap ₹1,304 CrP/E 18.1

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 6 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

55

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹1,304 Cr

P/E ratio

18.1

P/B ratio

1.2

ROCE

9.9%

ROE

4.6%

Dividend yield

0.7%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹71.2352-week low ₹37.49

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 11.8% over the past year, and 5.9% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 14.3% to 9.2% over the last four years.

Whether it grew faster than its sector

It grew 5.9% a year against a sector median of 10.2% — 4.3 percentage points slower.

Room to re-rate, or risk of de-rating

At 18.1× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 15.6×, across 5 companies. It is against its own five-year median of 28.1×, the 36th percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
DCW Limited — this one-32%/yr18.1×—
Supreme Petrochem Limited—30.5×—
SWAN CORP LIMITED86%/yr36.2×₹0.42
Rain Industries Limited-69%/yr13.4×—
Bhansali Engineering Polymers Limited10%/yr15.6×₹1.6
Manali Petrochemicals Limited1%/yr12.4×₹12.4

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Petrochemicals), it ranks 6 of 10 on returns, 8 of 10 on growth, 5 of 10 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 9.9% on capital, ahead of 40% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹1125 crore of cash from the business, spent ₹379 crore on plant and equipment, and returned ₹783 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 601 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back faster than it used to: it went from being paid 15 days before it paid its own suppliers to paid 34 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

10 of 10 checks clear · 100%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Pre-tax profit was almost nil after PVC losses, and the ₹35 crore net profit came from a one-off tax credit.

Announced 13 Aug 2026 · Standalone · Unaudited

Revenue

₹542 Cr

Net profit

₹35 Cr

Net margin

6.4%

EPS

₹1.17

Earnings call transcript · 14 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹1,304 Cr
Prev close
₹44.19
52w High
₹72.3
52w Low
₹37.1
Enterprise value
₹1,389 Cr
Beta
1.7
Price CAGR 1y
-33.0%
Price CAGR 3y
-6.0%
Price CAGR 5y
-3.0%
Price CAGR 10y
3.0%

Ratios

Return on assets
2.3%
PEG ratio
-0.6
P/E ratio
18.1
P/B ratio
1.2
EV / EBITDA
6.8
Industry P/E
13.6
ROCE
9.9%
ROCE 5y average
13.6%
ROE
4.6%
Debt / Equity
0.3
Interest coverage
2.2
Dividend yield
0.7%
ROE 3y average
3.0%
ROE last year
5.0%

Annual P&L

Annual revenue
₹2,144 Cr
Annual profit
₹48 Cr
Operating margin
11.0%
Net profit margin
2.2%
EBITDA margin
10.5%
Sales growth 3y
-6.6%
Sales growth 5y
7.9%
Profit growth 3y
-32.0%
Profit growth 5y
67.0%
EPS
₹1.6
Sales growth TTM
12.0%
Profit growth TTM
105.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹542 Cr
Profit latest quarter
₹35 Cr
YoY quarterly sales growth
14.0%
YoY quarterly profit growth
218.2%
OPM latest quarter
6.6%

Balance Sheet

Book Value
₹36.4
Face Value
₹2.0
Total debt
₹290 Cr
Total cash
₹204 Cr
Borrowings
₹290 Cr
Reserves / Equity
17.2

Cash Flow

Operating cash flow
₹278 Cr
Free cash flow
₹187 Cr
FCF yield
9.6%
Net cash flow
-₹7 Cr

Shareholding

Promoter holding
45.6%
FII holding
6.1%
DII holding
0.1%
Public holding
48.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Supreme Petroch.819.6031.515,4321.28236.3192.11,692.722.118.8
Swan Corp268.8537.78,4300.06-36.0-264.21,013.8-16.4-0.6
Rain Industries212.6313.37,1180.47341.0388.05,167.217.48.3
Bhansali Engg.128.6316.03,2013.1165.643.0472.253.323.8
Manali Petrochem92.3613.31,5850.5464.4348.8274.717.17.3
DCW46.3719.21,3690.6534.6203.3541.914.09.9
T N Petro Prod.126.038.31,1341.1980.1126.0780.268.510.9
Median128.6314.51,1340.5427.4159.0472.215.518.8

Competes with: Agarwal Industrial Corporation Limited, Bhansali Engineering Polymers Limited, Kothari Petrochemicals Limited, Manali Petrochemicals Limited, Pasupati Acrylon Limited, Rain Industries Limited, SWAN CORP LIMITED, Supreme Petrochem Limited, Tamilnadu PetroProducts Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Standalone · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales438414398622500489474538476539520609542
Expenses387373378558454453417482422481475544506
Material Cost264260269264273335
Change in Inventories56-20253369-24
Purchases of Stock-in-Trade0.240.230.290.210.000
Employee Cost314643415241
Other Expenses131135144136150153
Operating Profit51421963453557565458456536
OPM %12104.88109.047.25121011118.70116.60
Other Income4436665645566
Exceptional items (within Other Income)000000
Interest17191820171816161516161515
Depreciation23232424252525252526262626
Profit before tax154-192510-2202118218280
Tax %3541-353834-30344536343536-9,497
Net Profit103-12157-11311111451835
EPS in Rs0.340.09-0.420.520.23-0.040.450.380.390.470.170.611.17
Diluted EPS in Rs0.390.390.470.170.611.17

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Standalone · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,2531,2631,1761,1871,3531,2771,4642,4552,6341,8722,0002,1442,210
Expenses1,1871,1131,0291,0611,1901,1301,2552,1272,2051,6951,8071,9182,006
Material Cost1,1091,066
Change in Inventories-39107
Purchases of Stock-in-Trade180.73
Employee Cost161182
Other Expenses558566
Operating Profit66150147126163147209328429177194225204
OPM %51213111212141316910119
Other Income-03263811176116231521
Exceptional items (within Other Income)00
Interest1958579310410712011312674676262
Depreciation52696888838787899094100104105
Profit before tax-52725-49-22-401414327425497557
Tax %243619-59-80-33722530383935
Net Profit-61720-20-4-27410819216304871
EPS in Rs-0.280.780.92-0.91-0.19-1.030.154.126.500.531.021.632.42
Diluted EPS in Rs1.031.63
Dividend Payout %00000001080100

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
5%
5 years
8%
3 years
-7%
TTM
12%

Compounded profit growth

10 years
11%
5 years
67%
3 years
-32%
TTM
105%

Stock price CAGR

10 years
3%
5 years
-3%
3 years
-6%
1 year
-33%

Return on equity

10 years
4%
5 years
7%
3 years
3%
Last year
5%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital434444444452525259595959
Reserves5175916115915876266357509669739741,016
Borrowings780847770814683605624556508439427290
Other Liabilities507481528455504550564546530618718724
Total Liabilities1,8471,9631,9521,9041,8191,8341,8751,9032,0632,0892,1782,089
Fixed Assets6351,2601,5311,4711,5341,4671,4071,3521,2961,3121,2701,304
CWIP8493671221247124860415622
Investments000000000202720
Other Assets363336299309278354464543708716825744
Total Assets1,8471,9631,9521,9041,8191,8341,8751,9032,0632,0892,1782,089

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6912322357285170218178226252191278
Cash from Investing Activity-87-100-95-13-45-43-7852-165-99-112-63
Cash from Financing Activity19-23-128-44-241-119-99-192-139-153-78-221
Net Cash Flow1-1-00-084138-7811-7
Free Cash Flow-202212637255154200141140162116187

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days283425262021241718221824
Inventory Days8710083966610282639713914396
Days Payable1551371671061491861447678125129122
Cash Conversion Cycle-40-3-5916-63-63-385383732-1
Working Capital Days-70-85-115-116-126-89-63-153-18-30-34
ROCE %1663651018257810

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Standalone · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters454544454545454545454546
FIIs8.437.877.257.35111111109.188.576.716.11
DIIs0.110.010.010.010.010.010.010.010.010.010.010.05
Public464749484444444546464848
No. of Shareholders1,07,4691,20,5421,52,8881,43,6231,12,8411,11,8271,09,4301,09,2561,08,3891,08,4301,07,4751,08,567

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -35.6% (₹68.58 → ₹44.19)Brick size ₹1.90 (fixed)Bricks 52
₹40.00₹50.00₹60.00₹70.00₹44.19Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹44.19 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

28.00

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

85.41inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,39,58,333inr

2026-03-31

News

News and filings about DCW Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Ammonia
  • Ilmenite ore
  • Industrial salt (NaCl)
  • Limestone
  • Power / electricity
  • Vinyl Chloride Monomer (VCM)

Depends on the price of

  • caustic_soda
  • soda_ash

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Chemicals
Industry
Petrochemicals
Classification
Chemicals › Petrochemicals
ISIN
INE500A01029

Business segments

  • Basic Chemicals · 72%
  • Speciality Chemicals · 28%
  • Others · 1%

Plants

  • DCW Dhrangadhra Works
  • DCW Sahupuram Works

News impact

Big market events that reach DCW Limited, and how the effect spreads.

5 Sept, 04:29 IST · Market event · high impact

Kenya's President Ruto orders Tata Chemicals to withdraw from the country over insufficient local value creation, putting its Magadi soda ash operation under a cease-operations directive

Kenya's president has told Tata Chemicals to leave the country and shut its soda ash plant there, saying it did not create enough local value - a blow to one of the company's overseas businesses, though the plant is a small part of the group.

Chemicals

Who it hits first

  • Tata Chemicals must defend or wind down its Magadi soda ash operation in Kenya, with a realistic risk of writing down the Kenyan carrying value
  • The Kenyan government says it will bring in replacement investors, which would transfer the asset rather than close it permanently

Who may gain

  • GHCL and other soda ash producers, if Magadi volume leaves the market and global soda ash supply tightens
  • Kenyan replacement investors the government says it intends to bring in

Along the supply chain

Downstream

Glass makers and detergent makers in East Africa and the Middle East that buy Magadi soda ash must find another supplier, which raises their landed cost; Indian flat-glass and container-glass makers face a firmer imported soda ash price as a result.

Upstream

Kenyan suppliers to Magadi - limestone and reagent vendors, power supply, rail and road haulage to Mombasa port - lose their orders immediately if the plant stops; there is no Indian upstream exposure because Magadi is a self-contained Kenyan operation.

Where demand moves

Business

Soda ash demand from glass makers and detergent makers does not change - what changes is who supplies it. If Magadi stops shipping, buyers in East Africa, the Middle East and India must source from other producers, and the natural substitutes are Indian synthetic soda ash from GHCL, Tata Chemicals' own Indian plants, and Turkish and US natural soda ash. Upstream, Magadi's limestone, power and freight suppliers in Kenya lose orders outright.

Capital

Money moves out of Tata Chemicals on overseas-asset risk and towards domestic soda ash exposure that gains from tighter supply; because Tata Chemicals is already at 0.75 times book value, the selling is limited, and the more interesting flow is fresh interest in GHCL as the clean domestic play.

How it spreads across sectors

Chemicals

soda ash pricing firms globally if Magadi volume is genuinely removed, helping domestic producers

Consumer Durables

glass makers and glass-intensive appliance makers face a firmer soda ash input price

Fast Moving Consumer Goods

detergent makers, for whom soda ash is a core input, see a modest cost increase

codex additions

When it plays out

Immediate

Tata Chemicals trades on headline risk while the ministry reviews the company's submissions; no operational change has happened yet.

Medium term

If Magadi is transferred to new investors, global soda ash supply is only briefly disrupted; if it is shut, the tightness is structural and benefits every other producer for several quarters.

Short term

Watch whether Kenya converts the directive into a formal licence revocation or settles for revised local-content commitments - that decides whether this is a write-down or a negotiation.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

18 Sep 2026unspecified₹0.2
20 Feb 2026interim₹0.1
22 Sep 2025unspecified₹0.1
22 Sep 2023unspecified₹0.3
17 Feb 2023interim₹0.2
19 Sep 2022unspecified₹0.4
31 Jul 2014unspecified₹0.36
30 Aug 2013unspecified₹0.36

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.