DCM Shriram Share Price Rises 11% After Robust Q4 Results

DCM Shriram Ltd. saw an 11% jump in its share price on Tuesday to Rs 1,129.10 apiece as its fourth-quarter profit and revenue rose.

The company announced its Q4 results on Monday with revenue rising 20% to Rs 2,876 crore versus Rs 2,399 crore in the same quarter last year. Profit jumped 52% to Rs 179 crore versus Rs 118 crore last year, and earnings before interest taxes depreciation and amortisation also saw a 52.8% increase to Rs 405 crore versus Rs 265 crore.

Margin expanded to 14% compared to 11% last year.

Towards the end of March, the conglomerate also commissioned a new caustic soda flakes plant of 300 tonnes per day capacity at its flagship chemicals complex at Jhagadia in Bharuch district, Gujarat. This expanded the total capacity of the Bharuch unit to 900 tonnes per day, making it one of the largest single location caustic soda flakes producing units in the country, as per a regulatory filing by the company.

DCM Shriram Ltd share price rose as much as 11% to Rs 1,129.10 apiece, the highest level since March 28. It pared gains to trade 2.87% lower at Rs 1,046.20 apiece, as of 1:20 p.m. This compares to a 0.32% decline in the NSE Nifty 50 Index.

The stock has fallen 10.02% on a year-to-date basis, and is up 2.16% in the last 12 months. Total traded volume so far in the day stood at 45 times its 30-day average. The relative strength index was at 57.46.

No analysts are currently tracking the company.