DCW Ltd (DCW) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 500117 | NSE: DCW | Chemicals | Small Cap

DCW Share Price

54.67 -2.40 -4.21%
as on 05-Dec'25 15:23

DCW Ltd (DCW) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 500117 | NSE: DCW | Chemicals | Small Cap

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Based on:

Overall Rating
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1. Quality


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2. Valuation


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3. Price Trend


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DCW stock performance -

Key Ratios
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P/E Ratio (SA):
33.69
Market Cap:
1,684.5 Cr.
52-wk low:
56.2
52-wk high:
107.7

Is DCW Ltd an attractive stock to invest in?


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10 Year X-Ray of DCW: Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
DCW Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 6%5.6%3.1%6%5.2%10.3%19.3%27.8%6.6%8%-
Value Creation
Index
-0.6-0.6-0.8-0.6-0.6-0.30.41.0-0.5-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,2631,1761,1871,3531,2771,4642,4552,6341,8722,0002,027
Sales YoY Gr.--6.9%1%13.9%-5.6%14.6%67.6%7.3%-28.9%6.9%-
Adj EPS 1.30.9-0.90.4-0.504.15.70.611.7
YoY Gr.--33.1%-204.6%NA-251.4%NANA39.9%-89.3%63.9%-
BVPS (₹) 28.929.828.728.62626.330.434.7353535.8
Adj Net
Profit
28.619.1-20.27.8-13.90.110616818.129.550
Cash Flow from Ops. 12322357.3285170218178226252191-
Debt/CF from Ops. 6.93.514.22.43.62.93.12.21.72.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.2%9.4%-6.6%6.9%
Adj EPS -2.9%NA-37.3%63.9%
BVPS2.2%6.1%4.8%0.1%
Share Price 8.7% 24% -0.2% -48.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
4.83-3.11.2-2.1014.218.41.82.94.8
Op. Profit
Mgn %
13.312.210.613.313.114.313.716.89.59.911.1
Net Profit
Mgn %
2.31.6-1.70.6-1.104.36.411.52.5
Debt to
Equity
1.31.21.31.10.90.90.70.50.40.40.1
Working Cap
Days
908891768181576710610667
Cash Conv.
Cycle
474539313133304264563

Recent Performance Summary

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Latest Financials - DCW Ltd.

Standalone Consolidated
TTM EPS (₹) 1.7 -0.2
TTM Sales (₹ Cr.) 2,027 1,254
BVPS (₹.) 35.8 0
Reserves (₹ Cr.) 999 510
P/BV 1.59 0.00
PE 33.69 0.00
From the Market
52 Week Low / High (₹) 56.17 / 107.72
All Time Low / High (₹) 0.65 / 113.00
Market Cap (₹ Cr.) 1,684
Equity (₹ Cr.) 59
Face Value (₹) 2
Industry PE 48.1

Management X-Ray of DCW:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.003.883.883.883.883.893.90
* Pledged shares as % of Promoter's holding (%)

Valuation of DCW - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of DCW

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,2631,1761,1871,3531,2771,4642,4552,6341,8722,000
Operating Expenses 1,1131,0351,0621,1911,1311,2552,1302,2051,6961,807
Manufacturing Costs319283300324310307468626473457
Material Costs6145925976816367561,4211,2949861,088
Employee Cost 9297114114123133156182152161
Other Costs 8863517162598410386101
Operating Profit 150141126162146209325428176193
Operating Profit Margin (%) 11.9%12.0%10.6%12.0%11.5%14.3%13.2%16.3%9.4%9.7%
Other Income 39649116151823
Interest 5857931041071201131267467
Depreciation 696888838787899094100
Exceptional Items 0000001447-10
Profit Before Tax 2725-49-22-40141432742549
Tax 105-29-18-131036821019
Profit After Tax 1720-20-4-2741081921630
PAT Margin (%) 1.4%1.7%-1.7%-0.3%-2.1%0.3%4.4%7.3%0.8%1.5%
Adjusted EPS (₹)0.80.9-0.9-0.2-1.00.24.16.50.51.0
Dividend Payout Ratio (%)0%0%0%0%0%0%10%8%0%10%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 6346546356326786877941,0251,0321,033
Share Capital 44444444525252595959
Reserves 590610591587626635742966973974
Minority Interest0000000000
Debt736661690538531588452381308277
Long Term Debt555480479384467523441381282218
Short Term Debt18118121215464651102760
Trade Payables230271174278323298296275337384
Others Liabilities 363366404372302302361383412484
Total Liabilities 1,9631,9521,9041,8191,8341,8751,9032,0632,0892,178

Fixed Assets

Gross Block1,3271,6531,6791,8401,8601,8861,9131,9452,0462,097
Accumulated Depreciation67122208306393479561649735827
Net Fixed Assets 1,2601,5311,4711,5341,4671,4071,3521,2961,3121,270
CWIP 36712212471248604156
Investments 000000002027
Inventories168135157122177169247345377428
Trade Receivables117808674739511613311499
Cash Equivalents 2241750122112168169215
Others Assets 49826265547867625684
Total Assets 1,9631,9521,9041,8191,8341,8751,9032,0632,0892,178

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 12322357285170218178226252191
PBT 2725-49-22-40141432742549
Adjustment 122120187182203205206159159144
Changes in Working Capital -2582-7112019-1-149-158806
Tax Paid -1-81-0-20-23-50-13-9
Cash Flow From Investing Activity -100-95-13-45-43-7852-165-99-112
Capex -104-97-20-30-16-18-37-86-90-74
Net Investments 30-0-15-30-6485-134-20-51
Others 0271244551113
Cash Flow From Financing Activity -23-128-44-241-119-99-192-139-153-78
Net Proceeds from Shares 150207200000
Net Proceeds from Borrowing 1-7814-73632-455-99-45
Interest Paid -108-50-88-113-106-132-99-136-69-64
Dividend Paid 0-0-0-0-0-00-18-90
Others 68129-54-911-4892431
Net Cash Flow -1-00-084138-7811

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.893.13-3.13-0.67-4.090.5614.5121.11.522.93
ROCE (%)6.025.613.075.955.2210.2819.2527.786.597.97
Asset Turnover Ratio0.730.670.630.730.70.791.31.330.90.94
PAT to CFO Conversion(x)7.2411.15N/AN/AN/A54.51.651.1815.756.37
Working Capital Days
Receivable Days28282522212116172419
Inventory Days44424438434331417073
Payable Days44465651615625305565

DCW Ltd Stock News

DCW Ltd FAQs

The current trading price of DCW on 05-Dec-2025 15:23 is ₹54.67.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2025 the market cap of DCW stood at ₹1,684.5.
The latest P/E ratio of DCW as of 04-Dec-2025 is 33.69.
The latest P/B ratio of DCW as of 04-Dec-2025 is 1.59.
The 52-week high of DCW is ₹107.7 and the 52-week low is ₹56.17.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of DCW is ₹2,027 ( Cr.) .

About DCW Ltd

DCW was started way back in 1925 with the foundation of India’s first Soda Ash factory at Dhrangadhra. The plant was taken over in 1939 and run under the name Dhrangadhra Chemical Works, from there the growth of company began.

DCW is a diversified manufacturer of basic chemicals, such as:  Caustic Soda,Liquid Chlorine and Chlorine based products such as Trichloroethylene and HCL, Upgraded Ilmenite or Synthetic Rutile ,Yellow Iron Oxide, PVC Resin, Soda Ash,  Ammonium bi-carbonate and Liquid Bromine and Bromide. 

It received a major impetus in 1959 with the commissioning of the chlor-alkali plant at Sahupuram in the southern state of Tamilnadu. Growth at the chlor-alkali complex was rapid as between 1965 and 1970 three plants were erected that turned the co-product chlorine into a money spinner; a liquid chlorine plant in 1965, the country’s first tri-chloroethylene plant (left) in 1968 and an integrated PVC resin plant in 1970-making the company one of the first in the nascent petrochemicals field. In the same year, 1970, the company set up a plant to manufacture upgraded ilmenite, the first of its kind in Asia, and even today, one of the few of its kind in the world. In 1986, to reflect the expanded activity spectrum, and its emergence as a multi-product and multi-locational company, the corporate name was changed simply to DCW Ltd.

DCW pioneered the manufacture of Soda Ash in India. The original capacity of 60 tonnes per day has been increased in stages to the present day capacity of 300 TPD and new products have been added to bring diversity to the product portfolio.

The output of Caustic Soda has been increased in stages from 28,000 TPA to 80,000 TPA, making DCW one of the leading producers of this basic chemical in India.The product range of the Soda Ash division now reads an impressive 96,000 TPA of Soda Ash, Ammonium Bicarbonate 5000 TPA, Soda Bicarbonate 12,000 TPA, Liquid Bromine 300 TPA; Isopropyl Bromide 120 TPA; Ethyl Bromide 40 TPA; Butyl Bromide 8 TPA. Calcium Chloride is also produced but its production is seasonal.

In petrochemicals it successfully erected a total storage capacity of 5,600 MT of PVC at Tuticorin port (a distance of 30 km from the plant) - including a huge 5000 M3 sphere.

At Dhrangadhra, DCW contributes substantially to the S.P. Jain Arts and Commerce College, and the Panjarapole Trust which maintains old cattle. In addition, DCW maintains a club for the welfare of its employees and runs a primary school at the labour colony. The company also makes contributions to the Kidney Disease Research Centre for hospital patients and to the Tiffin Seva Mandal for feeding the poor.

DCW was the first, and is currently the only Indian producer to handle and store imported VCM, a volatile gas.

Milestones achieved

  • 2013
    - 'National Energy Management Award’ from CII to certify that DCW Ltd, Sahupuram is an Excellent Energy Efficient Unit’ for 2012
  • 2012
    - 'National Energy Management Award’ from CII to certify that DCW is an Excellent Energy Efficient Unit.
  • 2011
    - 'National Energy Management Award’ from CII to certify that DCW is an Excellent Energy Efficient Unit.
  • 2010
    - 'National Energy Management Award’ from CII to certify that DCW is an Excellent Energy Efficient Unit.
    - 'National Energy Management Award’ from CII to certify that the project implemented by DCW is an Innovation Project.
    - DCW Awarded Best Managed Chlor-Alkali Plant by Alkali Manufacturers' Association of India.
    -DCW Limited has entered into a Technical License and Support Agreement with Rockwood Italia (Italy), a leading producer of synthetic iron oxides
    - DCW Limited has entered into a Technical License Agreement with Arkema, France, Europe's leading producer of Vinyl Products.
  • DCW Company has commenced sale of it’s Surplus Power from the Company’s 2 x 25 MW Coal based Captive Co Generation Plant situated at Sahupuram in Tamilnadu to Tamil Nadu Electricity Board in April 2009.
  • 1986-In collaboration with CSIO, Chandigarh, a process for current monitoring based on microprocessors was developed in the Caustic Soda Cells to result in energy saving of 125 KWH per ton of Caustic Soda.
  • 1985-Development of a new product called 'Weldgrade beneficiated ilmenite' developed by DCW for the welding rods industry. (1985)
  • 1985-Process of de-mercurisation of mercury - bearing water effluent developed for the first time by DCW. (1985)
  • In 1992-93, DCW also perfected the production of high purity synthetic rutile wherein the purity of TiO2 is over 95%.

 

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