DCM Shriram

What DCM Shriram does

DCM Shriram Ltd. is a publicly listed Indian conglomerate (BSE: 523367) operating across three integrated business segments — Agri-Rural, Chemicals & Vinyl, and Value Added — with consolidated FY2025-26 revenue of Rs 14,264 crore (~US$1.7 billion) and PAT of Rs 855.98 crore (up 42% YoY). The Chemicals & Vinyl segment is the growth engine: India's second-largest caustic soda producer with ~1 Million TPA integrated Chlor-Alkali capacity across Kota (Rajasthan) and Bharuch (Gujarat), producing PVC resins, PVC compounds, hydrogen peroxide, aluminum chloride, calcium carbide, and advanced materials (epoxy resins via HSCL, epichlorohydrin, refined glycerine), plus 400,000 TPA cement and 427 MW of captive power. The Agri-Rural segment includes 379,500 TPA urea, 42,400 TCD sugar across four Uttar Pradesh units with 166 MW co-generation, 310 KLD plus 250 KLD multi-feedstock distillery, 12 TPD CBG, the Shriram Farm Solutions agri-input distribution network, and Bioseed hybrid seeds (India and Philippines).

The business model is predominantly B2B quote-based pricing for industrial chemicals, fertilizers, sugar, and cement, paired with channel-driven retail for Fenesta Building Systems (UPVC/aluminium windows and doors, India's #1 brand, present in 900+ cities via 20 sales offices and 400+ partner showrooms) and direct farmer engagement in the cane command area (~2,50,000 farmers). Distribution spans direct sales for industrial customers, a network of agri-advisors for farm inputs, dealer showrooms for Fenesta, and REACH-registered exports for chemicals. Customers span pulp & paper, textiles, refining, pharma, construction, agriculture, and logistics (including a Maersk container pilot). DCM Shriram recently announced a demerger creating DCM Shriram Fine Chemicals and DCM Shriram International as separate listed entities, and is actively pursuing inorganic growth: the PolyTek JV with Teknor Apex (April 2026, specialty polymers), HSCL acquisition for Rs 375 crore (epoxies), DNV Global stake for Fenesta hardware, and Planetary's BioBlocks fermentation platform for mycoprotein production using agricultural side streams. Capital is being funded via a $90 million IFC sustainability-linked NCD and HSBC sustainability-linked loan, supporting an estimated Rs 3,500 crore in ongoing and near-completion capex in sugar and chemicals.

Name

DCM Shriram

Legal name

DCM Shriram Ltd.

Website

http://www.dcmshriram.com

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

DCM Shriram is a publicly listed Indian conglomerate operating across three integrated segments — Agri-Rural (urea, sugar, ethanol, seeds), Chemicals & Vinyl (caustic soda, PVC, advanced materials, cement), and Value Added (Fenesta windows/doors) — serving industrial, agricultural, and construction customers with FY26 revenue of ~$1.7 billion.

Ownership category

akta.pro rank

Product category

Diversified Industrial Chemicals and Manufacturing

NAICS

Basic Chemical Manufacturing (3251), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253), Chemical Manufacturing (325)

SIC

Industrial Inorganic Chemicals (2810), Chemicals & Allied Products (2800), Miscellaneous Chemical Products (2890), Agricultural Chemicals (2870)

akta.pro primary industry

Formulation R&D, Scale-Up & Tech Transfer Services (AFABAIAJ)

Keywords

• Chlor-alkali chemicals
• Urea fertilizer production
• Sugar ethanol manufacturing
• UPVC windows doors
• Hybrid seed research

Headquarters

HQ city

Delhi

HQ country

India

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Chemicals & Vinyl Business: Manufactures and sells caustic soda, chlorine, aluminum chloride, hydrogen peroxide, calcium carbide, PVC resins, PVC compounds, cement, and advanced materials including epoxies, refined glycerin, and epichlorohydrin (ECH). Key growth driver with caustic soda volumes rising 12% and new epichlorohydrin plant commissioned in April 2026.
2. Agri-Rural Business (Sugar & Ethanol): Integrated sugar production with 42,400 TCD crushing capacity, 166 MW co-generation power, 310 KLD distillery capacity (B-heavy molasses) plus 250 KLD multi-feedstock operations, and 12 TPD CBG capacity. Revenue from sugar sales, ethanol blending, and power export.
3. Fertilizers (Urea & SSP): Urea production at Kota plant with 379,500 TPA capacity, branded as 'SHRIRAM'. Single superphosphate (SSP) fertilizers. Part of integrated agri-business.
4. Fenesta Building Systems: 100% customized UPVC & Aluminum windows & doors, solid panel doors, and facade solutions. India's number one windows and doors company with presence in 900+ cities. Revenue from product sales and installation services.
5. Shriram Farm Solutions: Science-backed agri-inputs including seeds, specialty plant nutrition, crop protection products, and fertilizers. Distributed through network of agri-advisors and channel partners to farmers.
6. Bioseed (Hybrid Seeds): R&D-based hybrid seeds business with presence in India and Philippines. Revenue from seed sales to farmers through distribution network.
7. Power & Cement: 383 MW coal-based captive power plant and 44 MW (peak) green power capacity. Cement manufacturing at Kota with 400,000 TPA capacity under Shriram Cement Works brand.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

DCM Shriram Ltd. is a diversified Indian conglomerate manufacturing industrial chemicals (caustic soda, chlorine, PVC resins, hydrogen peroxide, calcium carbide, epichlorohydrin, epoxies), agricultural inputs (urea fertilizer, hybrid seeds, crop protection, specialty plant nutrition), sugar and ethanol with co-generation power, and Fenesta UPVC and aluminium windows and doors. The company operates integrated manufacturing complexes at Kota (Rajasthan), Bharuch (Gujarat), and four sugar units in Uttar Pradesh, with group turnover of Rs 14,264 crores.

Product overview

DCM Shriram Ltd. is a diversified business conglomerate with three primary business segments: Agri-Rural Business, Chemicals & Vinyl Business, and Value Added Business. The Chemicals & Vinyl Business includes Caustic Soda (India's second largest producer), Chlorine, PVC Resins, PVC Compounds, Calcium Carbide, Hydrogen Peroxide, Aluminum Chloride, and advanced materials (Epichlorohydrin, Epoxy Resins, Refined Glycerin), plus cement manufacturing. The Agri-Rural Business encompasses Urea fertilizer (379,500 TPA), Sugar (42,400 TCD), Ethanol/Distillery, Shriram Farm Solutions (seeds, crop protection, specialty nutrition), Bioseed hybrid seeds, and Compressed Bio Gas. The Value Added Business features Fenesta Building Systems, India's leading windows and doors company offering uPVC and aluminum solutions. The portfolio is supported by power generation capacity (383 MW coal-based captive plus 44 MW green power).

Differentiator

Problem solved

Functional benefit

Brands

• Fenesta Building Systems: UPVC & Aluminium Doors & Windows, Solid Panel Doors and Façade Solutions. India's number one windows and doors company with pan-India presence.
• Shriram Farm Solutions
• Bioseed
• DCM Shriram Sugar
• DCM Shriram Chemicals
• Shriram Vinyl
• Shriram Cement
• Shriram Polytech

Products and services

• Caustic Soda (Sodium Hydroxide) Essential industrial raw material for pulp and paper, viscose yarn, textiles, petroleum refining, and pharmaceuticals industries. DCM Shriram is India's second largest caustic soda producer with combined capacity of approximately 1 Million TPA across Kota and Bharuch facilities.
• Chlorine Chlor-Alkali co-product manufactured at Kota, Rajasthan and Bharuch, Gujarat facilities. Used in water treatment, PVC production, pharmaceuticals, and chemical manufacturing.
• PVC Resins Multiple grades of PVC Resins with 220 TPD capacity produced at the integrated manufacturing complex in Kota through the Calcium Carbide route, insulating from petrochemicals cost-cycles. Used in pipes, profiles, films, and rigid applications.
• PVC Compounds Polymer Compounds (24,050 TPA capacity), Pantone Shade Color Masterbatch, and Medical PVC Compounds. Shriram PolyTech offers customized solutions for automotive, consumer products, and wire and cable sectors.
• Hydrogen Peroxide 52,500 TPA capacity Hydrogen Peroxide plant at Bharuch utilizing captive on-site Hydrogen production. Applications include bleaching, chemical synthesis, water treatment, food processing, mining, and environmental protection.
• Calcium Carbide 112,000 TPA capacity for captive use in PVC Resins production and sale to industrial users. Competitive advantage through captive coal-based power and proximity to raw materials.
• Epichlorohydrin (ECH) Newly commissioned 150 TPD Epichlorohydrin plant at Bharuch for advanced materials segment, primarily used in epoxy resin production.
• Epoxy Resins Advanced materials product acquired through Hindusthan Speciality Chemicals (HSCL) acquisition for Rs 375 crore, expanding into epoxy and formulated resins for industrial applications.
• Aluminum Chloride Chemical product manufactured at Bharuch facility with 150 TPD capacity. Used in pharmaceuticals, dyes, and chemical synthesis applications.
• Shriram Cement Cement manufacturing facility in Kota, Rajasthan with 400,000 TPA capacity producing PPC, 53 Grade, PPC Part II, and Gold Cement brands. Awarded Five Star Certificate by British Safety Council.
• Urea (Shriram Brand) Urea fertilizer manufactured at Kota plant with 379,500 TPA capacity. Branded as 'SHRIRAM' with strong rural market presence built over 4 decades, sold to agricultural sector.
• Sugar Integrated sugar production at Ajbapur, Rupapur, Hariawan, and Loni units in Uttar Pradesh with combined capacity of 42,400 TCD and 166 MW co-generation power. Works with approximately 250,000 farmers for cane supply.
• Ethanol and Distillery Distillery operations with 310 KLD capacity (B-heavy molasses) plus additional 250 KLD multi-feedstock operations. Ethanol produced for blending in petrol as green fuel under India's ethanol blending program.
• Compressed Bio Gas (CBG) 12 TPD Compressed Bio Gas capacity at Ajbapur unit, contributing to circular economy and green energy production from agricultural waste.
• Bioseed (Hybrid Seeds) Biotechnology-based hybrid seed solutions for India and Philippines markets. Owns one of the richest germplasm pools in Asia with focus on improving productivity, resilience, and sustainability.
• Shriram Farm Solutions Science-backed agri-inputs across Seeds, Specialty Plant Nutrition, Crop Protection, and Fertilizers (Urea and SSP). Addresses climate change, nutrient use efficiency, and soil health challenges for farmers.
• Fenesta Building Systems India's leading windows and doors company offering 100% customized uPVC and Aluminum windows, doors, solid panel doors, and façade solutions. Pan-India presence in 900+ cities through 20 sales offices, 8 factories, 9 Signature Studios, and 400+ channel partner showrooms.
• Fenesta ProTec Industry-first wellness innovation addressing invisible electrosmog in homes. New category expansion for Fenesta Building Systems targeting health-conscious homeowners.

Quantifiable outcome

• 11 percentage point EBITDA improvement at Jhagadia plant through AI-enabled process control
• +9 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered strategic, core and minor.

• Maersk (A.P. Moller-Maersk)strategicStrategic or Co-development Partner · 24 June 2026Maersk placed order for 1,000 steel containers with DCM Shriram International Ltd to support India's goal of becoming alternate destination for cargo container manufacturing. Two prototype containers built at Faridabad facility to be unveiled. Order depends on government policy expected by August following PLI scheme allocation of Rs 10,000 crore for container manufacturing.
• Teknor Apex B.V.coreStrategic or Co-development Partner · 16 April 2026Joint venture 'PolyTek' formed by divesting 50% stake in Shriram Polytech Ltd to Dutch company Teknor Apex B.V. for $5.6 million. Combines Shriram Polytech's domestic vinyl compounds manufacturing with Teknor Apex's global polymer formulation expertise to serve automotive, consumer products, and wire and cable sectors. Targets India's specialty chemicals market projected to reach USD 93.4 billion by 2034.
• Bennett UniversityminorStrategic or Co-development Partner · 16 February 2026CSR partnership for scholarships supporting meritorious students from underprivileged backgrounds. DCM Shriram Fine Chemicals provides CSR-funded scholarships as part of demerger company's social responsibility initiatives.
• Planetary (Switzerland)strategicTechnology or Integration · 28 January 2026Licensing partnership for Planetary's proprietary BioBlocks fermentation platform to enable co-located mycoprotein production using agricultural side streams at DCM Shriram Bioseeds sugar mills. Targets over 20% cost savings versus conventional chicken with gross-margin positive operations at global scale.
• Chartered Speed LimitedminorOthers · 24 December 2025Chartered Speed deployed 11 electric buses for employee transportation at DCM Shriram's Jhagadia facility. Service equipped with GPS tracking, driver monitoring, CCTV cameras, and fire protection systems. Supports company's commitment to reducing carbon footprint.
• Bayer CropScience LimitedstrategicStrategic or Co-development Partner · 11 December 2025MoU signed for collaboration across agri-inputs, digital advisory, sustainable farming practices, and value-chain strengthening. Partnership explores synergies in crop solutions, seeds, specialty plant nutrition, biologicals, digital tools, and advisory platforms including pilots in soil health, carbon sequestration, and integrated crop management.
• Hindusthan Specialty Chemicals (HSCL)coreStrategic or Co-development Partner · 13 June 2025DCM Shriram acquired Hindusthan Specialty Chemicals for Rs 375 crore to expand into advanced materials, particularly epoxy resins and formulated resins. Board later approved Rs 100 crore financial assistance (equity and debt) for HSCL capacity expansion to 50,000 TPA formulated resins capacity.
• DNV GlobalminorStrategic or Co-development Partner · 11 May 2025Fenesta (division of DCM Shriram) acquired 53% stake in DNV Global for Rs 44 crore to expand business focusing on hardware integration and product development. DNV Global's last fiscal turnover was Rs 60 crore.

Scale indicators16 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Tata Chemicals Limited: India's largest diversified chemicals company with comparable chlor-alkali, soda ash, fertilizers, and specialty chemicals operations. Tata Chemicals is the most direct Indian conglomerate peer given overlapping product portfolio and similar B2B industrial customer base.
• Gujarat Alkalies and Chemicals Limited (GACL): Pure-play Indian chlor-alkali producer with similar caustic soda, chlorine, hydrogen peroxide, and aluminum chloride products. GACL is headquartered in Gujarat like DCM Shriram's Bharuch operations, making it the closest direct competitor in caustic soda capacity.
• Bajaj Hindusthan Sugar Limited: India's largest sugar producer by capacity, with comparable integrated sugar-ethanol operations. Direct competitor in the UP sugar belt serving similar B-heavy molasses ethanol blending markets.
• Chemplast Cuddalore Vinyls Limited: Indian PVC resins manufacturer and co-petitioner with DCM Shriram in the DGTR anti-dumping case against Chinese PVC imports. Direct competitor in PVC suspension resin production serving similar industrial customers.
• Balrampur Chini Mills Limited: Major Indian sugar producer with integrated ethanol and co-generation operations, similar to DCM Shriram's sugar business. Direct peer in sugar crushing, ethanol distillery, and bio-energy segments in Uttar Pradesh.
• PI Industries Limited: Leading Indian agrochemicals and crop protection company with comparable R&D-based agri-input offerings. Direct peer in custom synthesis and formulation for crop protection chemistry.
• Supreme Industries Limited: India's largest plastic products manufacturer including PVC pipes and fenestration systems. Comparable to DCM Shriram's PVC compounds and Fenesta building systems businesses through PVC value chain overlap.
• Chambal Fertilizers and Chemicals Limited: India's largest private-sector urea producer with comparable fertilizer manufacturing scale and natural gas-based production. Direct peer in the urea/NPK fertilizer segment serving the same agricultural market.
• Aditya Birla Chemicals (GRP Limited): Indian chlor-alkali and epoxy resins producer, comparable to DCM Shriram's advanced materials expansion via HSCL acquisition. Direct competitor in caustic soda, chlorine derivatives, and epoxy resins.

Broad incumbents

• Coromandel International Limited: India's largest private-sector phosphatic fertilizer producer with diversified agri-inputs including crop protection and specialty nutrients. Comparable to DCM Shriram's Shriram Farm Solutions and Bioseed seed operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/DCMShriramLtd
• YouTubeyoutube.com/channel/UC_29y2L2w1SWofaqY8M31mg
• Facebookfacebook.com/DCMShriramLtd
• LinkedInlinkedin.com/company/dcmshriramltd

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DCM Shriram