The farm solutions business introduced eight products during the first half of FY27, including five developed through its in-house R&D capabilities, amid weather-related demand challenges.
30 October 2026, New Delhi: DCM Shriram Limited reported revenue of ₹423 crore from its Shriram Farm Solutions business in the second quarter of FY27, compared with ₹471 crore in the corresponding quarter last year. The performance reflected lower volumes across key product categories amid challenging monsoon conditions.
During H1 FY27, Shriram Farm Solutions launched eight new products, including five developed through its own research and development capabilities. The launches form part of the company’s efforts to strengthen its product portfolio and expand its presence in the agricultural inputs market.
DCM Shriram Business-wise Performance – Q2 FY27
Business Segment
Q2 FY27 Revenue
Q2 FY26 Revenue
YoY Growth
Chemicals
₹1,343 crore
₹914 crore*
47%
Vinyl
₹234 crore
₹195 crore*
20%
Sugar & Ethanol
₹1,023 crore
₹930 crore*
10%
Fenesta Building Systems
₹344 crore
₹282 crore*
22%
Shriram Farm Solutions
₹423 crore
₹471 crore
-10%
Fertilizer
₹502 crore
₹359 crore*
40%
Bioseed
₹73 crore
₹86 crore
-15%
*Q2 FY26 comparative figures for these segments are approximate, calculated from the reported revenue and rounded growth rates. All figures are in ₹ crore.
Commenting on the business performance, the company’s management said that Shriram Farm Solutions navigated one of the weakest monsoons in a decade, leveraging its differentiated product portfolio to address weather-related demand challenges.
The company’s Bioseed business also faced performance challenges in India and the Philippines due to El Niño-related climatic conditions and demand constraints.
DCM Shriram Reports 22% Growth in Consolidated Revenue
At the consolidated level, DCM Shriram reported net revenue of ₹3,977 crore in Q2 FY27, registering a 22% increase from ₹3,272 crore in Q2 FY26. Growth was supported by Chemicals & Vinyl, Sugar & Ethanol, Fenesta Building Systems and Fertilizer businesses.
Profit Before Depreciation, Interest and Tax (PBDIT) stood at ₹319 crore, compared with ₹408 crore in the corresponding quarter last year. The decline was primarily attributable to higher input costs in Chemicals and lower earnings in the agricultural input businesses. The previous year’s quarter had also benefited from one-time incentives in the Chemicals and Sugar businesses.
Profit After Tax (PAT) stood at ₹106 crore against ₹159 crore in Q2 FY26.
For the first half of FY27, consolidated net revenue increased 15% to ₹7,541 crore from ₹6,534 crore in H1 FY26. PBDIT stood at ₹683 crore compared with ₹734 crore in the previous year. Reported PAT increased to ₹799 crore, including a favourable tax adjustment of ₹474.3 crore and exceptional gains of ₹79.4 crore. Normalised PAT stood at ₹253 crore.
Performance Across Businesses
The Chemicals business reported a 47% increase in revenue to ₹1,343 crore, supported by improved ECU realisations and contributions from the advanced materials value chain. The commissioning of the Aluminium Chloride plant and partial commissioning of the Calcium Chloride plant at Bharuch strengthened downstream integration.
The Vinyl business recorded revenue growth of 20% to ₹234 crore, supported by improved volumes and realisations.
Revenue from Sugar & Ethanol increased 10% to ₹1,023 crore, while PBDIT grew 85% to ₹62 crore. Higher domestic sugar prices and improved ethanol margins supported performance. Ethanol sales volumes increased 24% during the quarter.
Fenesta Building Systems reported revenue of ₹344 crore, up 22% year-on-year, driven by higher volumes in the Projects vertical. PBDIT increased 15% to ₹49 crore. The company commissioned Phase I of its Aluminium Extrusion Plant at Kota as part of its backward integration strategy.
The Fertilizer business recorded revenue growth of 40% to ₹502 crore, supported by higher realisations reflecting increased gas prices. PBDIT increased 25% to ₹25 crore.
Bioseed reported revenue of ₹73 crore compared with ₹86 crore in Q2 FY26, with performance affected by climatic conditions and demand challenges in India and the Philippines.
Strategic Investments and Growth Initiatives
DCM Shriram continues to advance investments across its businesses, with a focus on downstream integration, operational efficiency, cost competitiveness and renewable energy.
During the quarter, the company commissioned its 100 tonnes per day Aluminium Chloride plant and partially commissioned the 133 tonnes per day Calcium Chloride project at Bharuch. Phase I of Fenesta’s Aluminium Extrusion Plant at Kota was also commissioned.
In October 2026, the company commissioned 68 MW (peak) of captive renewable energy capacity for Kota.
Other ongoing and planned projects include the completion of Phase II of Fenesta’s Aluminium Extrusion Plant and the balance second line of the Calcium Chloride project in Q3 FY27. The proposed acquisition of salt works with a combined capacity of 208,000 tonnes per annum is also expected to be completed during the quarter.
Further investments include a 58 MW (peak) renewable energy project at Bharuch, a 40 MW (peak) solar plant at Kota, expansion of formulated resins capacity at HSCL, waste utilisation initiatives at Kota, specialty polymer compounds manufacturing through Shriram Teknor Limited, and caustic capacity debottlenecking at Bharuch and Kota.
The Board of Directors also announced an interim dividend of 200%, amounting to ₹62.38 crore.
These investments are aligned with DCM Shriram’s strategy of strengthening operational capabilities, improving resource efficiency and supporting long-term growth across its businesses.
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