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DCW Limited Q1 FY27 results deck summary

NSE: DCW · BSE: 500117

Results deck of 13 Aug 2026, summarised by AI from the filing.

Q1-FY27 revenue ₹5,419 mn, up 14.0% YoY, with net leverage on track to turn net cash positive by end of FY27.

Key takeaways

  1. Net leverage Net leverage remains on track to turn net cash positive by the end of FY27, before undertaking any incremental debt for future growth initiatives.
  2. Sequential decline Revenue declined 11% sequentially due to higher captive PVC consumption for CPVC, lower PVC production, and inventory liquidation in the Synthetic Rutile business during Q4 FY26.
  3. Specialty Chemicals Specialty Chemicals EBITDA grew 19.2% YoY, supported by higher CPVC volumes following the successful commissioning of the recent capacity expansion.
  4. VCM impact Profitability was impacted by non-availability of VCM due to the West Asia crisis, elevated VCM prices, and temporary suspension of PVC import duties.

Original filing on BSE

DCW Limited Q1 FY27 results

As filed: Revenue ₹542 cr (+14% year on year), EBITDA ₹35.8 cr (−34% year on year), PAT ₹34.6 cr (+214% year on year), EBITDA margin 6.6% (−474 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹609 cr (+13% year on year), EBITDA ₹64.6 cr (+15% year on year), PAT ₹18.1 cr (+64% year on year), EBITDA margin 10.6% (+19 bps). Score 56 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA growth was in line with it; profit growth was well above it. EBITDA margin rose 19 bps year on year. Tax rate 36%. Share price after the results: +1.2% in 30 days (Nifty 500: −1.5%).
  • Q3 FY26: Revenue ₹520 cr (+10% year on year), EBITDA ₹45.2 cr (−19% year on year), PAT ₹4.9 cr (−62% year on year), EBITDA margin 8.7% (−311 bps). Score 37 of 100, Below trend. Revenue growth was above the company's own trend; EBITDA and profit growth were below it. EBITDA margin fell 311 bps year on year. Other income 64% of PBT. Revenue fell 4% from last quarter. Share price after the results: −21.4% in 30 days (Nifty 500: −7.8%).
  • Q2 FY26: Revenue ₹539 cr (+10% year on year), EBITDA ₹58.0 cr (+66% year on year), PAT ₹14.0 cr, EBITDA margin 10.8% (+360 bps). Score 70 of 100, Above trend. Revenue and EBITDA growth were above the company's own trend. EBITDA margin rose 360 bps year on year. Tax rate 38%. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −9.2% in 30 days (Nifty 500: −0.3%).
  • Q1 FY26: Revenue ₹476 cr (−5% year on year), EBITDA ₹54.0 cr (+17% year on year), PAT ₹11.0 cr (+57% year on year), EBITDA margin 11.3% (+214 bps). Score 57 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was in line with it; profit growth was well above it. EBITDA margin rose 214 bps year on year. Revenue fell 12% from last quarter. Share price after the results: +1.1% in 28 days (Nifty 500: +1.7%).
  • Q4 FY25: Revenue ₹538 cr (−14% year on year), EBITDA ₹56.0 cr (−11% year on year), PAT ₹11.0 cr (−27% year on year), EBITDA margin 10.4% (+28 bps). Score 28 of 100, Below trend. Revenue and profit growth were below the company's own trend; EBITDA growth was in line with it. EBITDA margin rose 28 bps year on year. Other income 29% of PBT. Tax rate 48%. Profit fell 15% from last quarter. Share price after the results: +14.0% in 30 days (Nifty 500: +7.7%).
  • Q3 FY25: Revenue ₹474 cr (+19% year on year), EBITDA ₹56.0 cr (+180% year on year), PAT ₹13.0 cr, EBITDA margin 11.8% (+679 bps). Score 85 of 100, Above trend. Revenue growth was above the company's own trend; EBITDA growth was well above it. EBITDA margin rose 679 bps year on year. Revenue fell 3% from last quarter.
  • Q2 FY25: Revenue ₹489 cr (+18% year on year), EBITDA ₹35.0 cr (−17% year on year), PAT −₹1.0 cr (−133% year on year), EBITDA margin 7.2% (−299 bps). Score 20 of 100, Below trend. EBITDA margin fell 299 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 114% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

DCW Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.