MarketFriction

DCW Ltd

NSE DCW · BSE 500117 · Petrochemicals
₹44.62 -2.19%
NSE close2026-10-01
52 week range37.11 - 72.30
Market cap₹1,357 Cr.
P/E19.0
Price band 20% Delivery 46.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales414398622500489474538476539520609542
Expenses373378558454453417482422481475544506
Operating Profit421963453557565458456536
OPM %10%4.9%10%9%7%12%10%11%11%9%11%7%
Other Income436665645566
Interest191820171816161516161515
Depreciation232424252525252526262626
Profit before tax4-192510-2202118218280
Tax %41%-35%38%34%-30%34%45%36%34%35%36%-9,497%
Net Profit3-12157-11311111451835
EPS in Rs0.09-0.420.520.23-0.040.450.380.390.470.170.611.17
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,2631,1761,1871,3531,2771,4642,4552,6341,8722,0002,1442,210
Expenses1,1131,0291,0611,1901,1301,2552,1272,2051,6951,8071,9182,006
Operating Profit150147126163147209328429177194225204
OPM %12%13%11%12%12%14%13%16%9%10%11%9%
Other Income3263811176116231521
Interest58579310410712011312674676262
Depreciation696888838787899094100104105
Profit before tax2725-49-22-401414327425497557
Tax %36%19%-59%-80%-33%72%25%30%38%39%35%
Net Profit1720-20-4-27410819216304871
EPS in Rs0.780.92-0.91-0.19-1.030.154.126.500.531.021.632.42
Dividend Payout %0%0%0%0%0%0%10%8%0%10%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth5%8%-7%12%
Compounded Profit Growth11%67%-32%105%
Stock Price CAGR5%-1%-7%-33%
Return on Equity4%7%3%5%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital434444444452525259595959
Reserves5175916115915876266357509669739741,016
Borrowings780847770814683605624556508439427290
Other Liabilities507481528455504550564546530618718724
Total Liabilities1,8471,9631,9521,9041,8191,8341,8751,9032,0632,0892,1782,089
Fixed Assets6351,2601,5311,4711,5341,4671,4071,3521,2961,3121,2701,304
CWIP8493671221247124860415622
Investments000000000202720
Other Assets363336299309278354464543708716825744
Total Assets1,8471,9631,9521,9041,8191,8341,8751,9032,0632,0892,1782,089
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6912322357285170218178226252191278
Cash from Investing Activity-87-100-95-13-45-43-7852-165-99-112-63
Cash from Financing Activity19-23-128-44-241-119-99-192-139-153-78-221
Net Cash Flow1-1-00-084138-7811-7
Free Cash Flow-202212637255154200141140162116187
CFO/OP112%83%157%45%175%117%104%61%64%150%103%122%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days283425262021241718221824
Inventory Days8710083966610282639713914396
Days Payable1551371671061491861447678125129122
Cash Conversion Cycle-40-3-5916-63-63-385383732-1
Working Capital Days-70-85-115-116-126-89-63-153-18-30-34
ROCE %1%6%6%3%6%5%10%18%25%7%8%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters45.10%45.10%44.08%44.86%44.86%44.86%44.87%44.81%44.62%45.14%45.44%45.59%
FIIs8.43%7.87%7.25%7.35%11.25%11.35%10.82%10.05%9.18%8.57%6.71%6.11%
DIIs0.11%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.05%
Public46.35%47.01%48.65%47.77%43.87%43.77%44.31%45.12%46.18%46.27%47.84%48.25%
No. of Shareholders1,07,4691,20,5421,52,8881,43,6231,12,8411,11,8271,09,4301,09,2561,08,3891,08,4301,07,4751,08,567

Fundamentals

Market Cap₹ 1,357 Cr.
Current Price₹ 46.0
Stock P/E19.0
Book Value₹ 36.4
ROCE9.89 %
ROE4.74 %
Dividend Yield0.65 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)12%
Compounded Profit Growth (TTM)105%
Standalone figures.
Valuation
Market capRs 1,317 Cr
Enterprise valueRs 1,403 Cr
P/E (TTM)18.46x
Price to book1.23x
Price to sales0.60x
EV / EBITDA6.25x
EV / EBIT11.76x
EV / sales0.63x
Price to cash flow4.74x
Earnings yield5.42%
P/E, 3-year average65.41x
P/B, 3-year average1.57x
P/E, 5-year average42.56x
P/B, 5-year average1.46x
Profitability
Operating margin (excl. other income)10.51%
Operating margin (incl. other income)11.23%
EBITDA margin10.15%
Pre-tax margin2.59%
Net profit margin3.23%
Net margin, latest quarter6.38%
ROE4.57%
ROCE9.69%
ROA2.26%
ROE, 3-year average3.00%
ROCE, 3-year average8.07%
ROA, 3-year average1.47%
ROE, 5-year average8.89%
ROCE, 5-year average14.23%
ROA, 5-year average3.96%
ROIC (approx.)6.63%
Tax rate35.43%
Other income / net worth1.43%
Growth
Sales growth (latest year)7.16%
Profit growth (latest year)60.19%
Sales CAGR, 3 years-6.63%
Sales CAGR, 5 years7.92%
Profit CAGR, 3 years-36.93%
Profit CAGR, 5 years66.28%
Sales growth QoQ-11.03%
Profit growth QoQ91.10%
Sales growth YoY (latest quarter)13.97%
Profit growth YoY (latest quarter)203.34%
Per share
EPS (TTM)Rs 2.42
EPS (latest year)Rs 1.63
EPS (latest quarter)Rs 1.17
EPS, 3-year averageRs 1.06
EPS, 5-year averageRs 2.76
Book value per shareRs 36.42
Sales per shareRs 74.88
Cash flow per shareRs 9.42
Free cash flow per shareRs 6.34
Dividend per share, 3-year averageRs 0.10
Dividend per share, 5-year averageRs 0.33
Dividends
Dividend payout, 3-year average9.81%
Dividend payout, 5-year average9.07%
Efficiency
Asset turnover1.03x
Fixed asset turnover1.64x
Inventory turnover5.19x
Inventory days70 days
Debtor days24 days
Debtors turnover15.10x
Creditor days122 days
Cash conversion cycle-1 days
Working capital days-34 days
Leverage
Total debtRs 290 Cr
Cash and bankRs 204 Cr
Net debtRs 86 Cr
Debt to equity0.27x
Net debt / EBITDA0.38x
Interest coverage1.93x
Current ratio (filing 2026-03-31)1.01x
Quick ratio (filing 2026-03-31)0.57x
Trade payables (filing 2026-03-31)Rs 391 Cr
Owners' fund to total sources51.44%
Debt to assets13.88%
Cash flow
Cash from Operating Activity (latest year)Rs 278 Cr
Cash from Investing Activity (latest year)Rs -63 Cr
Cash from Financing Activity (latest year)Rs -221 Cr
Net Cash Flow (latest year)Rs -7 Cr
Free cash flow (latest year)Rs 187 Cr
FCFE (approx.: FCF + change in debt)Rs 50 Cr
Cash from ops / profit, 5 years2.86x
Sales to cash flow7.71x
Statement figures
Net sales (TTM)Rs 2,210 Cr
Net sales (latest year)Rs 2,144 Cr
Sales (latest quarter)Rs 542 Cr
Operating profit excl. other income (latest year)Rs 225 Cr
Operating profit (latest quarter)Rs 36 Cr
Other income (TTM)Rs 21 Cr
EBITDA (TTM)Rs 224 Cr
PBDT (TTM)Rs 162 Cr
Profit before tax (TTM)Rs 57 Cr
Tax (latest year)Rs 26 Cr
Net profit (TTM)Rs 71 Cr
Net profit (latest year)Rs 48 Cr
Net profit (latest quarter)Rs 35 Cr
Depreciation (TTM)Rs 105 Cr
Depreciation (latest quarter)Rs 26 Cr
Interest (TTM)Rs 62 Cr
Cost of goods sold (latest year)Rs 1,607 Cr
Total expenditure (latest year)Rs 1,918 Cr
Total income (latest year)Rs 2,159 Cr
Share capitalRs 59 Cr
ReservesRs 1,016 Cr
Shareholders' fundsRs 1,075 Cr
Total assetsRs 2,089 Cr
Net blockRs 1,304 Cr
Capital work in progressRs 22 Cr
InvestmentsRs 20 Cr
ReceivablesRs 142 Cr
InventoryRs 309 Cr
Other liabilitiesRs 724 Cr
Shares outstanding (crore)29.52
Ownership
Promoter holding45.59% (+0.78 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 18.5 is at the 31th percentile of its own 6.4-year range (median 48.3, low 6.6, high 371.5).
P/B 1.23 is at the 32th percentile (median 1.54).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodDCWNifty 50Difference
1 week-7.7%-2.8% -5.0 pts
1 month+0.1%-6.8% +6.9 pts
3 months-11.5%-7.6% -3.9 pts
6 months+18.9%+0.4% +18.5 pts
1 year-38.0%-9.9% -28.1 pts
2 years-54.5%-13.6% -40.9 pts
3 years-21.4%+14.2% -35.6 pts
5 years-8.8%+27.9% -36.7 pts

Red flags

F-score 8 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹542 Cr +13.9% vs Jun 2025. Net profit ₹35 Cr +218.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-18Dividend - Re 0.20 Per Share
2026-02-20Interim Dividend - Re 0.10 Per Share
2025-09-22Dividend - Rs 0.10 Per Share
2024-09-19Annual General Meeting
2023-09-22Annual General Meeting/Dividend - Rs 0.30 Per Share
2023-02-17Interim Dividend - Re 0.20 Per Share
2022-09-19Annual General Meeting/Dividend - Re 0.40 Per Share
2022-03-22Extra Ordinary General Meeting
2021-09-17 Annual General Meeting
2021-02-10 Extra Ordinary General Meeting
2020-12-21 Annual General Meeting
2019-09-20 Annual General Meeting
2018-09-18 Annual General Meeting
2017-09-15 Annual General Meeting
2016-09-16 Annual General Meeting
2015-08-14 Annual General Meeting
2014-07-31Annual General Meeting / Dividend - Re 0.36/- Per Share
2013-08-30Annual General Meeting/Dividend Re 0.36/- Per Share
2012-09-20Annual General Meeting/Dividend Re 0.36 Per Share
2011-11-11Annual General Meeting And Dividend Re.0.36 Per Share
2010-08-02Annual General Meeting And Dividend Re.0.36 Per Share
2009-08-14Agm/Div-Re.0.30 Per Share
2008-06-20Agm/Dividend-15%
2007-07-13Agm/Dividend - 5%
2007-04-26Int Div-Re0.20 Per Sh Purpose Revised
2006-06-23Agm/Div-Re.0.30/- Per Sh
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results.
2026-09-26Shareholder meetingProceedings of Annual General Meeting held on September 26, 2026
2026-09-04General UpdatesPersuant to regulation 36(1)(b) of the SEBI (LODR) Regulations, the Company has sent letters to the shareholders providing weblink of the Annual Repor...
2026-09-04General UpdatesBusiness Responsibility and Sustainability Report (BRSR) for the Financial Year 2025-26
2026-09-04Shareholder meetingNotice of 87th Annual General Meeting to be held on Saturday, September 26, 2026 at 12:00 Noon
2026-09-04Record DateRecord date for the purpose of Dividend is 19-Sep-2026.
2026-09-04General UpdatesBook Closure
2026-09-03UpdatesCommunication Regarding Our New Corporate Identity .
2026-09-02General UpdatesGeneral Updates
2026-09-01General UpdatesCommunication to Shareholders - Intimation on Tax Deduction at Source (TDS) / withholding tax on Final Dividend for FY 2025-26.
2026-08-31General UpdatesIntimation to the holders of physical securities to furnish PAN, KYC details and Bank account details as per SEBI Master Circular dated February 06, 2...
2026-08-21General UpdatesCompletion of Restoration activity and functioning of Operations at the Dhrangadhra Plant of the Company
2026-08-20Concall / analyst meetTranscript
2026-08-17UpdatesIntimation regarding Recognition of the Company as a Three Star Export House by the Ministry of Commerce & Industry.
2026-08-14General UpdatesRestoration of Normalcy and Resumption of Operations at the Dhrangadhra Plant of the Company
2026-08-14Concall / analyst meetLink of Recording
2026-08-13Investor PresentationInvestor Presentation
2026-08-13General UpdatesDisclosure under Regulation 30(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( ...
2026-08-13Press ReleaseA press release dated August 13, 2026, titled "Synthetic Iron Oxide Pigments (SIOP) Capacity Expansion Project and Sahupuram Power Plant Improvements ...
2026-08-13Capacity additionCapacity addition
2026-08-13Press ReleaseA press release dated August 13, 2026.
2026-08-13AppointmentAppointment of Mr Mr. Sudarshan Ganapathy as Chief Executive Officer of the company w.e.f. August 13, 2026.
2026-08-13Board meeting outcomeDCW Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-05Concall / analyst meetSchedule of meet
2026-08-03Strikes/Lockouts/DisturbanceStrikes/lockouts/disturbances
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-02-05NCLTDCW Ltd. Vs Punjab State Industrial Development Corporation Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of DCW Ltd?

DCW Ltd (DCW) has a market capitalisation of Rs 1,357 Cr. at the 2026-10-01 close.

What is the P/E ratio of DCW Ltd?

DCW Ltd trades at a P/E of 19.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were DCW Ltd's latest quarterly results?

In the Jun 2026 quarter, DCW Ltd sales was Rs 542 Cr (+13.9% vs Jun 2025) and net profit was Rs 35 Cr.

What is the 52-week high and low of DCW Ltd?

The 52-week high is Rs 72.30 and the 52-week low is Rs 37.11.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03