DCW Ltd.
•₹ 44.731.64%
2026-08-21
PROS
- Latest quarter profit grew 203.3% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.81x)
- Working capital cycle has improved - days down from 15 to 11
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (46.8% of PBT)
- Company has a low return on equity of 8.5% over last 3 years
- Interest coverage is weak at 1.7x - earnings barely cover interest
- Equity base is being diluted - shares outstanding up 13.1%
- Recurring exceptional / one-off items are inflating headline profit
- Operating margins have contracted to 9.7% from 13.5%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SOLARINDS | 19650.00 | 89.29 | 177812.96 | 0.06 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| 2. | PIDILITIND | 1662.05 | 63.86 | 169161.84 | 1.29 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| 3. | SRF | 2570.50 | 35.25 | 76196.00 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| 4. | FLUOROCHEM | 4678.85 | 83.57 | 51397.17 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 10.02 | 26.83 |
| 5. | NAVINFLUOR | 8250.30 | 53.60 | 42324.05 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| 6. | GODREJIND | 1226.50 | 35.14 | 41314.78 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| 7. | DEEPAKNTR | 1749.95 | 30.47 | 23868.10 | 0.43 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| 8. | AETHER | 1634.55 | 92.24 | 21695.03 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| 9. | ATUL | 6520.15 | 24.13 | 19196.47 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| 10. | AARTIIND | 521.50 | 35.62 | 18916.20 | 0.19 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.39 | 16.00 |
| 11. | DEEPAKFERT | 1458.05 | 18.77 | 18468.08 | 0.69 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| 12. | DCW | 44.00 | 0.00 | 1298.68 | 0.45 | 34.55 | 203.30 | 541.91 | 13.97 | 7.97 | 6.60 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 438 | 414 | 398 | 622 | 500 | 489 | 474 | 538 | 476 | 539 | 520 | 609 | 542 | |
| 387 | 373 | 378 | 558 | 454 | 453 | 417 | 482 | 422 | 481 | 475 | 544 | 547 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 4 | 4 | 4 | 6 | 6 | 6 | 5 | 6 | 4 | 5 | 5 | 6 | 6 |
| Interest | 17 | 19 | 18 | 20 | 17 | 18 | 16 | 16 | 15 | 16 | 16 | 15 | 15 |
| Depreciation | 23 | 23 | 24 | 24 | 25 | 25 | 25 | 25 | 25 | 26 | 26 | 26 | 26 |
| 15 | 4 | -19 | 25 | 10 | -2 | 20 | 21 | 18 | 21 | 8 | 28 | 0 | |
| Tax % | 34.77% | 40.62% | 35.23% | 37.58% | 33.69% | 29.78% | 33.73% | 45.42% | 35.54% | 34.39% | 35.06% | 36.27% | -9576.75% |
| Net Profit | 10 | 3 | -12 | 15 | 7 | -1 | 13 | 11 | 11 | 14 | 5 | 18 | 35 |
| 0 | 0 | -0 | 1 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | |
| Equity Capital | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 438
- 387
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 17
- Depreciation
- 23
- 15
- Tax %
- 34.77%
- Net Profit
- 10
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 414
- 373
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 19
- Depreciation
- 23
- 4
- Tax %
- 40.62%
- Net Profit
- 3
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 398
- 378
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 18
- Depreciation
- 24
- -19
- Tax %
- 35.23%
- Net Profit
- -12
- -0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 622
- 558
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 20
- Depreciation
- 24
- 25
- Tax %
- 37.58%
- Net Profit
- 15
- 1
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 500
- 454
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 17
- Depreciation
- 25
- 10
- Tax %
- 33.69%
- Net Profit
- 7
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 489
- 453
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 18
- Depreciation
- 25
- -2
- Tax %
- 29.78%
- Net Profit
- -1
- -0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 474
- 417
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 16
- Depreciation
- 25
- 20
- Tax %
- 33.73%
- Net Profit
- 13
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 538
- 482
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 16
- Depreciation
- 25
- 21
- Tax %
- 45.42%
- Net Profit
- 11
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 476
- 422
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 15
- Depreciation
- 25
- 18
- Tax %
- 35.54%
- Net Profit
- 11
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 539
- 481
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 16
- Depreciation
- 26
- 21
- Tax %
- 34.39%
- Net Profit
- 14
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 520
- 475
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 16
- Depreciation
- 26
- 8
- Tax %
- 35.06%
- Net Profit
- 5
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 609
- 544
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 15
- Depreciation
- 26
- 28
- Tax %
- 36.27%
- Net Profit
- 18
- 1
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 542
- 547
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 15
- Depreciation
- 26
- 0
- Tax %
- -9576.75%
- Net Profit
- 35
- 0
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 59
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,263 | 1,176 | 1,187 | 1,353 | 1,277 | 1,464 | 2,455 | 2,634 | 1,872 | 2,000 | 2,210 | |
| 1,113 | 1,035 | 1,062 | 1,191 | 1,131 | 1,255 | 2,130 | 2,205 | 1,696 | 1,807 | 2,047 | |
| Operating Profit | 154 | 150 | 132 | 166 | 155 | 221 | 331 | 444 | 194 | 217 | — |
| OPM % | 12 | 13 | 11 | 12 | 12 | 15 | 13 | 17 | 10 | 11 | — |
| Other Income | 3 | 9 | 6 | 4 | 9 | 11 | 6 | 15 | 18 | 23 | 21 |
| Interest | 58 | 57 | 93 | 104 | 107 | 120 | 113 | 126 | 74 | 67 | 62 |
| Depreciation | 69 | 68 | 88 | 83 | 87 | 87 | 89 | 90 | 94 | 100 | 105 |
| 27 | 25 | -49 | -22 | -40 | 14 | 143 | 274 | 25 | 49 | 57 | |
| Tax % | 36 | 19 | 59 | 80 | 33 | 72 | 25 | 30 | 38 | 39 | -24 |
| Net Profit | 17 | 20 | -20 | -4 | -27 | 4 | 108 | 192 | 16 | 30 | 71 |
| EPS | 1 | 1 | -1 | -0 | -1 | 0 | 4 | 6 | 1 | 1 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 8 | 0 | 10 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | -1 | -0 | -1 | 0 | 4 | 7 | 1 | 1 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | -1 | -0 | -1 | 0 | 4 | 7 | 1 | 1 | — |
Mar 2016
- 1,263
- 1,113
- Operating Profit
- 154
- OPM %
- 12
- Other Income
- 3
- Interest
- 58
- Depreciation
- 69
- 27
- Tax %
- 36
- Net Profit
- 17
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2017
- 1,176
- 1,035
- Operating Profit
- 150
- OPM %
- 13
- Other Income
- 9
- Interest
- 57
- Depreciation
- 68
- 25
- Tax %
- 19
- Net Profit
- 20
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2018
- 1,187
- 1,062
- Operating Profit
- 132
- OPM %
- 11
- Other Income
- 6
- Interest
- 93
- Depreciation
- 88
- -49
- Tax %
- 59
- Net Profit
- -20
- EPS
- -1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2019
- 1,353
- 1,191
- Operating Profit
- 166
- OPM %
- 12
- Other Income
- 4
- Interest
- 104
- Depreciation
- 83
- -22
- Tax %
- 80
- Net Profit
- -4
- EPS
- -0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2020
- 1,277
- 1,131
- Operating Profit
- 155
- OPM %
- 12
- Other Income
- 9
- Interest
- 107
- Depreciation
- 87
- -40
- Tax %
- 33
- Net Profit
- -27
- EPS
- -1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2021
- 1,464
- 1,255
- Operating Profit
- 221
- OPM %
- 15
- Other Income
- 11
- Interest
- 120
- Depreciation
- 87
- 14
- Tax %
- 72
- Net Profit
- 4
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2022
- 2,455
- 2,130
- Operating Profit
- 331
- OPM %
- 13
- Other Income
- 6
- Interest
- 113
- Depreciation
- 89
- 143
- Tax %
- 25
- Net Profit
- 108
- EPS
- 4
- Dividend Payout %
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2023
- 2,634
- 2,205
- Operating Profit
- 444
- OPM %
- 17
- Other Income
- 15
- Interest
- 126
- Depreciation
- 90
- 274
- Tax %
- 30
- Net Profit
- 192
- EPS
- 6
- Dividend Payout %
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2024
- 1,872
- 1,696
- Operating Profit
- 194
- OPM %
- 10
- Other Income
- 18
- Interest
- 74
- Depreciation
- 94
- 25
- Tax %
- 38
- Net Profit
- 16
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2025
- 2,000
- 1,807
- Operating Profit
- 217
- OPM %
- 11
- Other Income
- 23
- Interest
- 67
- Depreciation
- 100
- 49
- Tax %
- 39
- Net Profit
- 30
- EPS
- 1
- Dividend Payout %
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
TTM
- 2,210
- 2,047
- Operating Profit
- —
- OPM %
- —
- Other Income
- 21
- Interest
- 62
- Depreciation
- 105
- 57
- Tax %
- -24
- Net Profit
- 71
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 9%
- 3 Years:
- -7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -34%
STOCK PRICE CAGR
- 10 Years:
- 5%
- 5 Years:
- 6%
- 3 Years:
- -5%
- 1 Year:
- -44%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 8%
- 3 Years:
- 9%
- Last Year:
- 3%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 44 | 44 | 44 | 44 | 52 | 52 | 52 | 59 | 59 | 59 |
| 590 | 610 | 591 | 587 | 626 | 635 | 742 | 966 | 973 | 974 | |
| 292 | 290 | 335 | 299 | 138 | 100 | 111 | 124 | 27 | 60 | |
| Trade Payables | 230 | 271 | 174 | 278 | 323 | 298 | 296 | 275 | 337 | 384 |
| 807 | 737 | 760 | 610 | 695 | 790 | 703 | 639 | 694 | 701 | |
| Total Liabilities | 1,963 | 1,952 | 1,904 | 1,819 | 1,834 | 1,875 | 1,903 | 2,063 | 2,089 | 2,178 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,260 | 1,531 | 1,471 | 1,534 | 1,467 | 1,407 | 1,352 | 1,296 | 1,312 | 1,270 | |
| Capital Work in Progress | 367 | 122 | 124 | 7 | 12 | 4 | 8 | 60 | 41 | 56 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | 27 | |
| 168 | 135 | 157 | 122 | 177 | 169 | 247 | 345 | 377 | 428 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 114 | 99 | |
| Cash & Bank | 2 | 2 | 4 | 17 | 50 | 122 | 112 | 168 | 169 | 215 |
| 166 | 163 | 148 | 139 | 127 | 173 | 184 | 195 | 56 | 84 | |
| Total Assets | 1,963 | 1,952 | 1,904 | 1,819 | 1,834 | 1,875 | 1,903 | 2,063 | 2,089 | 2,178 |
| Total Debt | 847 | 770 | 814 | 683 | 605 | 623 | 552 | 505 | 436 | 426 |
| Net Working Capital | -292 | -369 | -373 | -450 | -262 | -130 | 11 | 188 | 77 | 59 |
| Contingent Liabilities | 192 | 195 | 239 | 191 | 278 | 281 | 291 | 284 | 226 | 214 |
| Book Value per Share | 28.86 | 29.77 | 28.74 | 28.58 | 25.97 | 26.33 | 30.43 | 34.73 | 34.96 | 34.99 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 847 | 770 | 814 | 683 | 605 | 623 | 552 | 505 | 436 | 426 |
| Net Working Capital | -292 | -369 | -373 | -450 | -262 | -130 | 11 | 188 | 77 | 59 |
| Contingent Liabilities | 192 | 195 | 239 | 191 | 278 | 281 | 291 | 284 | 226 | 214 |
| Book Value per Share | 28.86 | 29.77 | 28.74 | 28.58 | 25.97 | 26.33 | 30.43 | 34.73 | 34.96 | 34.99 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
Mar 2016
- Equity Capital
- 44
- 590
- 292
- Trade Payables
- 230
- 807
- Total Liabilities
- 1,963
- 1,260
- Capital Work in Progress
- 367
- 0
- 168
- 0
- Cash & Bank
- 2
- 166
- Total Assets
- 1,963
- Total Debt
- 847
- Net Working Capital
- -292
- Contingent Liabilities
- 192
- Book Value per Share
- 28.86
- Face Value
- 2.00
- Total Debt
- 847
- Net Working Capital
- -292
- Contingent Liabilities
- 192
- Book Value per Share
- 28.86
- Face Value
- 2.00
Mar 2017
- Equity Capital
- 44
- 610
- 290
- Trade Payables
- 271
- 737
- Total Liabilities
- 1,952
- 1,531
- Capital Work in Progress
- 122
- 0
- 135
- 0
- Cash & Bank
- 2
- 163
- Total Assets
- 1,952
- Total Debt
- 770
- Net Working Capital
- -369
- Contingent Liabilities
- 195
- Book Value per Share
- 29.77
- Face Value
- 2.00
- Total Debt
- 770
- Net Working Capital
- -369
- Contingent Liabilities
- 195
- Book Value per Share
- 29.77
- Face Value
- 2.00
Mar 2018
- Equity Capital
- 44
- 591
- 335
- Trade Payables
- 174
- 760
- Total Liabilities
- 1,904
- 1,471
- Capital Work in Progress
- 124
- 0
- 157
- 0
- Cash & Bank
- 4
- 148
- Total Assets
- 1,904
- Total Debt
- 814
- Net Working Capital
- -373
- Contingent Liabilities
- 239
- Book Value per Share
- 28.74
- Face Value
- 2.00
- Total Debt
- 814
- Net Working Capital
- -373
- Contingent Liabilities
- 239
- Book Value per Share
- 28.74
- Face Value
- 2.00
Mar 2019
- Equity Capital
- 44
- 587
- 299
- Trade Payables
- 278
- 610
- Total Liabilities
- 1,819
- 1,534
- Capital Work in Progress
- 7
- 0
- 122
- 0
- Cash & Bank
- 17
- 139
- Total Assets
- 1,819
- Total Debt
- 683
- Net Working Capital
- -450
- Contingent Liabilities
- 191
- Book Value per Share
- 28.58
- Face Value
- 2.00
- Total Debt
- 683
- Net Working Capital
- -450
- Contingent Liabilities
- 191
- Book Value per Share
- 28.58
- Face Value
- 2.00
Mar 2020
- Equity Capital
- 52
- 626
- 138
- Trade Payables
- 323
- 695
- Total Liabilities
- 1,834
- 1,467
- Capital Work in Progress
- 12
- 0
- 177
- 0
- Cash & Bank
- 50
- 127
- Total Assets
- 1,834
- Total Debt
- 605
- Net Working Capital
- -262
- Contingent Liabilities
- 278
- Book Value per Share
- 25.97
- Face Value
- 2.00
- Total Debt
- 605
- Net Working Capital
- -262
- Contingent Liabilities
- 278
- Book Value per Share
- 25.97
- Face Value
- 2.00
Mar 2021
- Equity Capital
- 52
- 635
- 100
- Trade Payables
- 298
- 790
- Total Liabilities
- 1,875
- 1,407
- Capital Work in Progress
- 4
- 0
- 169
- 0
- Cash & Bank
- 122
- 173
- Total Assets
- 1,875
- Total Debt
- 623
- Net Working Capital
- -130
- Contingent Liabilities
- 281
- Book Value per Share
- 26.33
- Face Value
- 2.00
- Total Debt
- 623
- Net Working Capital
- -130
- Contingent Liabilities
- 281
- Book Value per Share
- 26.33
- Face Value
- 2.00
Mar 2022
- Equity Capital
- 52
- 742
- 111
- Trade Payables
- 296
- 703
- Total Liabilities
- 1,903
- 1,352
- Capital Work in Progress
- 8
- 0
- 247
- 0
- Cash & Bank
- 112
- 184
- Total Assets
- 1,903
- Total Debt
- 552
- Net Working Capital
- 11
- Contingent Liabilities
- 291
- Book Value per Share
- 30.43
- Face Value
- 2.00
- Total Debt
- 552
- Net Working Capital
- 11
- Contingent Liabilities
- 291
- Book Value per Share
- 30.43
- Face Value
- 2.00
Mar 2023
- Equity Capital
- 59
- 966
- 124
- Trade Payables
- 275
- 639
- Total Liabilities
- 2,063
- 1,296
- Capital Work in Progress
- 60
- 0
- 345
- 0
- Cash & Bank
- 168
- 195
- Total Assets
- 2,063
- Total Debt
- 505
- Net Working Capital
- 188
- Contingent Liabilities
- 284
- Book Value per Share
- 34.73
- Face Value
- 2.00
- Total Debt
- 505
- Net Working Capital
- 188
- Contingent Liabilities
- 284
- Book Value per Share
- 34.73
- Face Value
- 2.00
Mar 2024
- Equity Capital
- 59
- 973
- 27
- Trade Payables
- 337
- 694
- Total Liabilities
- 2,089
- 1,312
- Capital Work in Progress
- 41
- 20
- 377
- 114
- Cash & Bank
- 169
- 56
- Total Assets
- 2,089
- Total Debt
- 436
- Net Working Capital
- 77
- Contingent Liabilities
- 226
- Book Value per Share
- 34.96
- Face Value
- 2.00
- Total Debt
- 436
- Net Working Capital
- 77
- Contingent Liabilities
- 226
- Book Value per Share
- 34.96
- Face Value
- 2.00
Mar 2025
- Equity Capital
- 59
- 974
- 60
- Trade Payables
- 384
- 701
- Total Liabilities
- 2,178
- 1,270
- Capital Work in Progress
- 56
- 27
- 428
- 99
- Cash & Bank
- 215
- 84
- Total Assets
- 2,178
- Total Debt
- 426
- Net Working Capital
- 59
- Contingent Liabilities
- 214
- Book Value per Share
- 34.99
- Face Value
- 2.00
- Total Debt
- 426
- Net Working Capital
- 59
- Contingent Liabilities
- 214
- Book Value per Share
- 34.99
- Face Value
- 2.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 123 | 223 | 57 | 285 | 170 | 218 | 178 | 226 | 252 | 191 | |
| Cash from Investing | -100 | -95 | -13 | -45 | -43 | -78 | 52 | -165 | -99 | -112 |
| Cash from Financing | -23 | -128 | -44 | -241 | -119 | -99 | -192 | -139 | -153 | -78 |
| -1 | -0 | 0 | -0 | 8 | 41 | 38 | -78 | 1 | 1 | |
| Free Cash Flow | 123 | 142 | 30 | 240 | 145 | 200 | 147 | 142 | 170 | 124 |
| OCF / Net Profit | 7.19 | 11.05 | -2.84 | -66.83 | -6.33 | 57.39 | 1.66 | 1.18 | 16.10 | 6.30 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 680 | 757 | 761 | 874 | 803 | 783 |
| OCF / Net Profit | 7.19 | 11.05 | -2.84 | -66.83 | -6.33 | 57.39 | 1.66 | 1.18 | 16.10 | 6.30 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 680 | 757 | 761 | 874 | 803 | 783 |
Mar 2016
- 123
- Cash from Investing
- -100
- Cash from Financing
- -23
- -1
- Free Cash Flow
- 123
- OCF / Net Profit
- 7.19
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 7.19
- Cumulative 5-Year FCF
- 0
Mar 2017
- 223
- Cash from Investing
- -95
- Cash from Financing
- -128
- -0
- Free Cash Flow
- 142
- OCF / Net Profit
- 11.05
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 11.05
- Cumulative 5-Year FCF
- 0
Mar 2018
- 57
- Cash from Investing
- -13
- Cash from Financing
- -44
- 0
- Free Cash Flow
- 30
- OCF / Net Profit
- -2.84
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -2.84
- Cumulative 5-Year FCF
- 0
Mar 2019
- 285
- Cash from Investing
- -45
- Cash from Financing
- -241
- -0
- Free Cash Flow
- 240
- OCF / Net Profit
- -66.83
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -66.83
- Cumulative 5-Year FCF
- 0
Mar 2020
- 170
- Cash from Investing
- -43
- Cash from Financing
- -119
- 8
- Free Cash Flow
- 145
- OCF / Net Profit
- -6.33
- Cumulative 5-Year FCF
- 680
- OCF / Net Profit
- -6.33
- Cumulative 5-Year FCF
- 680
Mar 2021
- 218
- Cash from Investing
- -78
- Cash from Financing
- -99
- 41
- Free Cash Flow
- 200
- OCF / Net Profit
- 57.39
- Cumulative 5-Year FCF
- 757
- OCF / Net Profit
- 57.39
- Cumulative 5-Year FCF
- 757
Mar 2022
- 178
- Cash from Investing
- 52
- Cash from Financing
- -192
- 38
- Free Cash Flow
- 147
- OCF / Net Profit
- 1.66
- Cumulative 5-Year FCF
- 761
- OCF / Net Profit
- 1.66
- Cumulative 5-Year FCF
- 761
Mar 2023
- 226
- Cash from Investing
- -165
- Cash from Financing
- -139
- -78
- Free Cash Flow
- 142
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 874
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 874
Mar 2024
- 252
- Cash from Investing
- -99
- Cash from Financing
- -153
- 1
- Free Cash Flow
- 170
- OCF / Net Profit
- 16.10
- Cumulative 5-Year FCF
- 803
- OCF / Net Profit
- 16.10
- Cumulative 5-Year FCF
- 803
Mar 2025
- 191
- Cash from Investing
- -112
- Cash from Financing
- -78
- 1
- Free Cash Flow
- 124
- OCF / Net Profit
- 6.30
- Cumulative 5-Year FCF
- 783
- OCF / Net Profit
- 6.30
- Cumulative 5-Year FCF
- 783
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 0.78 | 0.92 | -0.91 | -0.19 | -1.03 | 0.15 | 4.12 | 6.50 | 0.53 | 1.03 |
| Book Value (₹) | 28.86 | 29.77 | 28.74 | 28.58 | 25.97 | 26.33 | 30.43 | 34.73 | 34.96 | 34.99 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.40 | 0.50 | 0.00 | 0.10 |
| Cash EPS (₹) | 3.92 | 4.01 | 3.06 | 3.58 | 2.32 | 3.49 | 7.51 | 9.56 | 3.71 | 4.41 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 10.99% | 11.46% | 10.87% | 12.24% | 12.14% | 15.07% | 13.48% | 16.85% | 9.38% | 9.67% |
| Net Margin % | 1.22% | 1.54% | -1.66% | -0.32% | -2.10% | 0.26% | 4.38% | 7.29% | 0.84% | 1.51% |
| ROE % | 2.89% | 3.13% | -3.13% | -0.67% | -4.09% | 0.56% | 14.51% | 21.10% | 1.52% | 2.93% |
| ROCE % | 6.02% | 5.61% | 3.07% | 5.95% | 5.22% | 10.28% | 19.25% | 27.78% | 6.59% | 7.97% |
| 0.90% | 1.03% | -1.05% | -0.23% | -1.47% | 0.20% | 5.69% | 9.68% | 0.75% | 1.42% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 28 | 28 | 25 | 22 | 21 | 21 | 16 | 17 | 24 | 19 |
| Inventory Days | 44 | 42 | 44 | 38 | 43 | 43 | 31 | 41 | 70 | 73 |
| Payable Days | 44 | 46 | 56 | 51 | 61 | 56 | 25 | 30 | 55 | 65 |
| 27 | 24 | 13 | 8 | 3 | 8 | 22 | 28 | 39 | 28 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 1.34x | 1.18x | 1.28x | 1.08x | 0.89x | 0.91x | 0.69x | 0.49x | 0.42x | 0.41x |
| Interest Coverage (x) | 1.46x | 1.44x | 0.47x | 0.79x | 0.63x | 1.11x | 2.27x | 3.18x | 1.34x | 1.73x |
| 0.52x | 0.44x | 0.44x | 0.36x | 0.56x | 0.76x | 1.02x | 1.38x | 1.13x | 1.08x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 0.71% | -6.93% | 0.99% | 13.93% | -5.58% | 14.64% | 67.64% | 7.29% | -28.94% | 6.88% |
| Operating Profit Growth % | 131.07% | -2.73% | -11.78% | 25.48% | -6.35% | 42.40% | 49.94% | 34.11% | -56.33% | 11.73% |
| Net Profit Growth % | 389.12% | 17.68% | -200.27% | 78.86% | -526.69% | 114.17% | 2734.26% | 78.58% | -91.84% | 93.39% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -91.84% | 93.37% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 96.87x | 75.77x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.47x | 2.22x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 9.21x | 11.57x |
Mar 2016
- EPS (₹)
- 0.78
- Book Value (₹)
- 28.86
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.92
- Operating Margin %
- 10.99%
- Net Margin %
- 1.22%
- ROE %
- 2.89%
- ROCE %
- 6.02%
- 0.90%
- Debtor Days
- 28
- Inventory Days
- 44
- Payable Days
- 44
- 27
- Debt to Equity (x)
- 1.34x
- Interest Coverage (x)
- 1.46x
- 0.52x
- Revenue Growth %
- 0.71%
- Operating Profit Growth %
- 131.07%
- Net Profit Growth %
- 389.12%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- 0.92
- Book Value (₹)
- 29.77
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.01
- Operating Margin %
- 11.46%
- Net Margin %
- 1.54%
- ROE %
- 3.13%
- ROCE %
- 5.61%
- 1.03%
- Debtor Days
- 28
- Inventory Days
- 42
- Payable Days
- 46
- 24
- Debt to Equity (x)
- 1.18x
- Interest Coverage (x)
- 1.44x
- 0.44x
- Revenue Growth %
- -6.93%
- Operating Profit Growth %
- -2.73%
- Net Profit Growth %
- 17.68%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- -0.91
- Book Value (₹)
- 28.74
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.06
- Operating Margin %
- 10.87%
- Net Margin %
- -1.66%
- ROE %
- -3.13%
- ROCE %
- 3.07%
- -1.05%
- Debtor Days
- 25
- Inventory Days
- 44
- Payable Days
- 56
- 13
- Debt to Equity (x)
- 1.28x
- Interest Coverage (x)
- 0.47x
- 0.44x
- Revenue Growth %
- 0.99%
- Operating Profit Growth %
- -11.78%
- Net Profit Growth %
- -200.27%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -0.19
- Book Value (₹)
- 28.58
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.58
- Operating Margin %
- 12.24%
- Net Margin %
- -0.32%
- ROE %
- -0.67%
- ROCE %
- 5.95%
- -0.23%
- Debtor Days
- 22
- Inventory Days
- 38
- Payable Days
- 51
- 8
- Debt to Equity (x)
- 1.08x
- Interest Coverage (x)
- 0.79x
- 0.36x
- Revenue Growth %
- 13.93%
- Operating Profit Growth %
- 25.48%
- Net Profit Growth %
- 78.86%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -1.03
- Book Value (₹)
- 25.97
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.32
- Operating Margin %
- 12.14%
- Net Margin %
- -2.10%
- ROE %
- -4.09%
- ROCE %
- 5.22%
- -1.47%
- Debtor Days
- 21
- Inventory Days
- 43
- Payable Days
- 61
- 3
- Debt to Equity (x)
- 0.89x
- Interest Coverage (x)
- 0.63x
- 0.56x
- Revenue Growth %
- -5.58%
- Operating Profit Growth %
- -6.35%
- Net Profit Growth %
- -526.69%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 0.15
- Book Value (₹)
- 26.33
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.49
- Operating Margin %
- 15.07%
- Net Margin %
- 0.26%
- ROE %
- 0.56%
- ROCE %
- 10.28%
- 0.20%
- Debtor Days
- 21
- Inventory Days
- 43
- Payable Days
- 56
- 8
- Debt to Equity (x)
- 0.91x
- Interest Coverage (x)
- 1.11x
- 0.76x
- Revenue Growth %
- 14.64%
- Operating Profit Growth %
- 42.40%
- Net Profit Growth %
- 114.17%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 4.12
- Book Value (₹)
- 30.43
- Dividend per Share (₹)
- 0.40
- Cash EPS (₹)
- 7.51
- Operating Margin %
- 13.48%
- Net Margin %
- 4.38%
- ROE %
- 14.51%
- ROCE %
- 19.25%
- 5.69%
- Debtor Days
- 16
- Inventory Days
- 31
- Payable Days
- 25
- 22
- Debt to Equity (x)
- 0.69x
- Interest Coverage (x)
- 2.27x
- 1.02x
- Revenue Growth %
- 67.64%
- Operating Profit Growth %
- 49.94%
- Net Profit Growth %
- 2734.26%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 6.50
- Book Value (₹)
- 34.73
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- 9.56
- Operating Margin %
- 16.85%
- Net Margin %
- 7.29%
- ROE %
- 21.10%
- ROCE %
- 27.78%
- 9.68%
- Debtor Days
- 17
- Inventory Days
- 41
- Payable Days
- 30
- 28
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 3.18x
- 1.38x
- Revenue Growth %
- 7.29%
- Operating Profit Growth %
- 34.11%
- Net Profit Growth %
- 78.58%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 0.53
- Book Value (₹)
- 34.96
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.71
- Operating Margin %
- 9.38%
- Net Margin %
- 0.84%
- ROE %
- 1.52%
- ROCE %
- 6.59%
- 0.75%
- Debtor Days
- 24
- Inventory Days
- 70
- Payable Days
- 55
- 39
- Debt to Equity (x)
- 0.42x
- Interest Coverage (x)
- 1.34x
- 1.13x
- Revenue Growth %
- -28.94%
- Operating Profit Growth %
- -56.33%
- Net Profit Growth %
- -91.84%
- -91.84%
- P/E (x)
- 96.87x
- P/B (x)
- 1.47x
- Dividend Yield %
- 0.00%
- 9.21x
Mar 2025
- EPS (₹)
- 1.03
- Book Value (₹)
- 34.99
- Dividend per Share (₹)
- 0.10
- Cash EPS (₹)
- 4.41
- Operating Margin %
- 9.67%
- Net Margin %
- 1.51%
- ROE %
- 2.93%
- ROCE %
- 7.97%
- 1.42%
- Debtor Days
- 19
- Inventory Days
- 73
- Payable Days
- 65
- 28
- Debt to Equity (x)
- 0.41x
- Interest Coverage (x)
- 1.73x
- 1.08x
- Revenue Growth %
- 6.88%
- Operating Profit Growth %
- 11.73%
- Net Profit Growth %
- 93.39%
- 93.37%
- P/E (x)
- 75.77x
- P/B (x)
- 2.22x
- Dividend Yield %
- 0.13%
- 11.57x
Documents
Announcements
- General Updates
2026-08-21 - DCW Limited has informed the Exchange about Completion of Restoration activity and functioning of Operations at the Dhrangadhra Plant of the Company
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-20 - DCW Limited has informed the Exchange about Transcript
Annual Reports
Credit Ratings
- Credit Rating
2026-06-26 - DCW Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026