DCM Shriram To Consider Second Interim Dividend In Upcoming Board Meeting

DCM Shriram Ltd. has announced a Board of Directors meeting scheduled for Saturday, Jan. 18, to discuss the payment of a second interim dividend, if any, for the fiscal year 2024-25.

It will also review the unaudited financial results for both the standalone and consolidated entities for the quarter and nine months ending December 31, 2024. Additionally, the board will discuss the issuance of non-convertible debentures on a private placement basis.

The record date for the second interim dividend, should the board approve it, will be Jan. 24, 2025. The dividend, if declared, will be paid on this date.

The company earlier announced an interim dividend of Rs 2 per share on record date Nov. 11.

DCM Shriram, a major player in the AgriRural value chain and Chloro-Vinyl industry, reported a significant rise in net profit for the September quarter. The company saw a 95% year-on-year increase in net profit, rising to Rs 63 crore from Rs 32 crore in the same period last year. Revenue from operations also grew by 10.8%, reaching Rs 3,130 crore compared to Rs 2,825 crore in the same quarter, previous fiscal.

The chloro-vinyl segment, in particular, experienced remarkable growth. The segment’s profit before interest and taxes surged by 138%, reaching Rs 50 crore from Rs 21 crore year-on-year. Revenue from the segment increased by 12%, to Rs 777 crore from Rs 694 crore.

"There has been significant improvement on the cost side, driven by the lower energy cost and input cost, as well as the efficiency level. This improvement occurred due to the commissioning of a 120-MW more efficient coal-based power plant in Q1," said Amit Agarwal, Executive Director and Group CFO to NDTV Profit.

In an exchange filing from Dec. 19, the agri producer announced that it was recognised for its strong Environmental, Social, and Governance performance. The company ranked among the top 7% of 523 global chemical companies in the S&P Global Corporate Sustainability Assessment 2024. With a CSA score of 59 out of 100, up 5 points from the previous year, the recognition reflects DCM Shriram's commitment to sustainable practices and social responsibility, it noted. 

Shares of the company closed 2.94% lower at Rs 1037.40 per share, compared to an 1.47% decline in the NSE Nifty 50. It has risen 0.52% in the last 12 months. There are no analysts tracking the company.