DCMSHRIRAM · Diversified
DCM Shriram Ltd. reported revenue of ₹3,367 cr for October to December 2024, +10.9% on the year and +13.9% on the quarter. It is the highest quarterly revenue in the last 7 quarters on record.
Operating profit (EBITDA) was ₹496 cr, a margin of 14.7%, +7 bps on the year and +861 bps on the quarter. It is the widest margin of the last 7 quarters (range 4.2% to 14.7%). Operating costs grew +10.8%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹262 cr, +9.2% on the year and +315.9% on the quarter, with earnings per share of ₹16.81. Profit before other income, one-offs and tax fell 2.5%, so 12 points of the headline growth came from outside the core business. The tax rate of 32% is in line with its recent average.
On earnings per share of ₹34.82 over the last four quarters, the stock at ₹907.20 trades at 26.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,035 cr | ₹2,399 cr | ₹2,876 cr | ₹2,957 cr | ₹3,367 cr | ₹2,877 cr | ₹3,262 cr | ₹3,272 cr | ₹3,811 cr | ₹3,193 cr | ₹3,564 cr | ₹3,977 cr |
| YoY | — | — | +3% | +9% | +11% | +20% | +13% | +11% | +13% | +11% | +9% | +22% |
| EBITDA margin | 14.7% | 11.0% | 8.6% | 6.1% | 14.7% | 14.1% | 9.3% | 9.4% | 14.0% | 11.1% | 9.5% | 7.3% |
| Other income, % of PBT | 9% | 14% | 16% | 56% | 11% | 8% | 13% | 40% | −8% | 31% | 39% | 18% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 38% | 33% | 37% | 34% | 32% | 34% | 33% | 35% | 34% | −46% | — | 31% |
| Net profit | ₹240 cr | ₹118 cr | ₹100 cr | ₹63.0 cr | ₹262 cr | ₹179 cr | ₹114 cr | ₹159 cr | ₹213 cr | ₹371 cr | ₹693 cr | ₹106 cr |
| YoY | — | — | +75% | +97% | +9% | +52% | +14% | +152% | −19% | +107% | +508% | −33% |
| Core profit YoY | — | — | +91% | +68% | −3% | +63% | +12% | +250% | +1% | −29% | +13% | −15% |
| EPS | ₹15.42 | ₹7.55 | ₹6.43 | ₹4.03 | ₹16.81 | ₹11.47 | ₹7.27 | ₹10.13 | ₹13.60 | ₹23.72 | ₹44.42 | ₹6.72 |
| Flags | · | · | ✓ | 3 | ✓ | ✓ | ✓ | ✓ | ✓ | 4 | 2 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
DCM Shriram Ltd. reported revenue of ₹3,367 cr (+10.9% on the year) and net profit of ₹262 cr (+9.2% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved −2.5% on the year, against +9.2% for reported profit.
None of the 7 checks that could run raised a question.
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