DCM Shriram Ltd posts net profit of Rs 51 crore in its March quarter

Talking about its various businesses, the company said that its Chloro-vinyl business’ earnings recorded moderate growth driven by lower input costs and stable prices in the Chemicals business. Sugar business turned breakeven from significant losses last year, led by lower cost of production and better prices in Q4.

Profit after tax improved substantially to Rs. 51 crores in the reported quarter from negative Rs 40 crores in Q4 FY15

The company also said that is Chlor-alkali capacity expansion to come on-stream partly in Q1 FY17, full capacity along with additional captive power by Q2 FY 17. Sugar co-gen expansion project expected to be commissioned by Q3 FY 17

Commenting on the performance for the quarter, in a joint statement, Mr. Ajay Shriram, Chairman& Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said, Our borrowings are at comfortable levels despite undertaking projects worth Rs 725 crore over FY 16 and 17. These projects will add significant value to the company from FY 17 onwards. Together with these we continue to spend on cost saving measures to optimise the cost structures which are critical for long term sustainability of our businesses.”