DCM Shriram Ltd Reports Q3 FY26 Financial Results; Chemicals and Agri Businesses Record Growth
27 January 2026, New Delhi: DCM Shriram Ltd announced its financial results for the quarter ended December 31, 2025 (Q3 FY26). The company operates across the agri value chain, chemicals and vinyl industry, and building material products.
During the quarter, the company recorded higher revenue across its major business segments, including Chemicals, Sugar and Ethanol, Fenesta Building Systems, and Shriram Farm Solutions. Net revenues, net of excise duty, stood at ₹3,811 crore, with PBDIT of ₹560 crore and profit after tax (PAT) of ₹213 crore. Compared to Q3 FY25, net revenue increased by 13 percent and PBDIT increased by 4 percent. PAT declined by 19 percent due to a one-time exceptional charge of ₹55 crore related to new labour codes. The company also announced a dividend payout of ₹56.14 crore during the quarter.
In a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, DCM Shriram Ltd, stated that global business conditions continue to be influenced by geopolitical developments, financial tightening, and technological changes, affecting supply chains, costs, and capital planning. They noted that India continues to be supported by macroeconomic fundamentals and demographic trends contributing to consumption and economic formalisation.
The Chemicals business reported volume-led growth during the quarter. The Epichlorohydrin (ECH) facility, commissioned in the previous quarter, saw market uptake. The announcement of anti-dumping duty on liquid epoxy resins is expected to support the performance of the epoxy acquisition completed in the last quarter. The company stated that efforts are ongoing to increase capacity utilisation across ECH and epoxy operations, with integrated use of caustic soda and chlorine.
In the Sugar and Ethanol segment, domestic production estimates were revised downward, and the Government announced an export quota of 1.5 million metric tonnes. Closing stock for the season is estimated at around 6.2 million metric tonnes. An increase in the State Advised Price has raised cost pressures, leading industry stakeholders to engage with the Government regarding sugar MSP and ethanol blending targets.
Fenesta Building Systems continued to expand its product and service offerings and increase customer engagement during the quarter.
Shriram Farm Solutions reported growth driven by crop protection products and research wheat seed sales. The company recorded its highest-ever quarterly sales of research wheat seed during Q3 FY26.
The company stated that its balance sheet position and capital allocation approach support ongoing and planned investments aligned with its business strategy.
Strategic Updates
Consolidated net revenue increased by 13 percent year-on-year to ₹3,811 crore in Q3 FY26. Segment-wise revenue growth compared to Q3 FY25 was led by Chemicals (30 percent), Sugar and Ethanol (15 percent), Fenesta (28 percent), and Bioseed (16 percent).
The Sugar and Ethanol business benefited from higher sugar prices, improved volumes, and a ₹36 crore reversal related to retrospective levy of duty on ethanol exported outside Uttar Pradesh, recorded earlier in Q1 FY26.
Chemicals revenue rose 30 percent year-on-year, supported by projects including Hydrogen Peroxide, Aluminium Chloride, Epichlorohydrin, and the epoxy acquisition. Caustic soda volumes increased by 6 percent.
Shriram Farm Solutions recorded 7 percent revenue growth to ₹756 crore, supported by research wheat seed sales.
During the quarter, the company completed the acquisition of an epoxy plant in August 2025 and partially commissioned a greenfield Epichlorohydrin plant at Bharuch in October 2025. Projects under implementation include an aluminium extrusion plant in Kota, a captive renewable energy plant for Kota, Aluminium Chloride and Calcium Chloride plants at Bharuch, and the acquisition of salt works.
Also Read: John Deere Enters a New Era of Excavators
Global Agriculture is an independent international media platform covering agri-business, policy, technology, and sustainability. For editorial collaborations, thought leadership, and strategic communications, write to pr@global-agriculture.com
