DCM Shriram Q3 revenues at Rs. 2,195 crore, up by 4% whereas its Chemical revenues at Rs. 1,371 crore down by 1% Y-o-Y. 

Commenting on the performance for the quarter and nine months ending December 2019, in a joint statement, Ajay Shriram, Chairman & Senior Managing Director and Vikram Shriram, Vice Chairman & Managing Director said, “The company achieved satisfactory operational performance across all businesses and progressed its strategic initiatives. The financial results were adversely affected due to lower product prices in chloro-vinyl segment.” 

“We continue to pursue sustainable earnings growth through enhancing scale & integration, improve cost structures and expand value added portfolio. The company is expected to deliver robust cash generation, in line with the strategic direction,” said Ajay Shriram and Vikram Shriram.

The chemical business is pursuing several initiatives to enhance production capacity as well as capacity utilization to achieve economies of scale and integration added Ajay Shriram and Vikram Shriram. 

The company has projects involving investment of Rs. 1,070 crore under implementation. Completed projects include: 332 TPD Chlor-Alkali capacity at Bharuch; 200 KLD Distillery at Ajbapur; PVC expansion of 40 TPD at Kota; and 66 MW power plant at Kota partially commissioned in January 2020 under stabilization phase.    

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