DCW Ltd. (IN:DCW)
:DCW
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DCW Ltd.
(DCW)
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Rating:54Neutral
Price Target:
₹47.00
▼(-18.61% Downside)
Action:Reiterated
Date:05/09/26
The score is held back mainly by weakened profitability and a sharp recent deterioration in free cash flow, despite an improving leverage profile and positive operating cash generation. Technicals are supportive with improving medium-term momentum, but the very high P/E and low dividend yield materially reduce the risk-reward at current levels.
Positive Factors
Improving leverage and healthier balance sheet
Sustained reduction in leverage meaningfully improves financial flexibility and lowers refinancing risk. A stronger equity base and lower debt ratios support capex and working-capital needs through cycles, enabling strategic investments and resilience during commodity cost swings.
Negative Factors
Compressed profitability and low margins
Persistently low single-digit net margins limit the firm's ability to fund growth, pay sustained dividends, or rebuild returns on capital. Margin compression increases sensitivity to raw-material or energy cost shocks and reduces leeway to absorb demand slowdowns without eroding equity returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage and healthier balance sheet
Sustained reduction in leverage meaningfully improves financial flexibility and lowers refinancing risk. A stronger equity base and lower debt ratios support capex and working-capital needs through cycles, enabling strategic investments and resilience during commodity cost swings.
Read all positive factors
DCW Ltd. (DCW) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.82B
Dividend Yield0.16%
Average Volume (3M)57.82K
Price to Earnings (P/E)28.8
Beta (1Y)1.54
Revenue Growth7.16%
EPS Growth58.82%
CountryIN
Employees1,761
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)1.70
Shares Outstanding295,155,030
10 Day Avg. Volume56,614
30 Day Avg. Volume57,823
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)1.03
Price to Sales (P/S)0.52
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
DCW Ltd. Business Overview & Revenue Model
Company Description
DCW Limited is a prominent Indian manufacturer specializing in heavy chemicals. Its extensive operations are strategically segmented across various divisions, including Soda Ash, Caustic Soda, Polyvinyl Chloride (PVC), SIOP, and Chlorinated Polyvi...
How the Company Makes Money
DCW primarily makes money by manufacturing chemicals and selling them to industrial customers, generating revenue from the sale of its chemical products (typically across domestic and export markets). Its revenue model is based on product sales vo...
DCW Ltd. Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
63
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.27B | 21.44B | 20.00B | 18.61B | 26.34B | 24.49B |
| Gross Profit | 8.11B | 3.77B | 6.00B | 8.86B | 13.40B | 10.28B |
| EBITDA | 2.44B | 2.22B | 1.93B | 1.83B | 4.91B | 3.38B |
| Net Income | 499.98M | 481.72M | 302.84M | 156.60M | 1.92B | 1.08B |
Balance Sheet | ||||||
| Total Assets | 22.11B | 20.89B | 21.78B | 20.89B | 20.63B | 19.03B |
| Cash, Cash Equivalents and Short-Term Investments | 2.12B | 2.05B | 182.96M | 1.70B | 1.68B | 1.12B |
| Total Debt | 3.80B | 2.90B | 4.27B | 4.39B | 5.08B | 5.56B |
| Total Liabilities | 11.53B | 10.15B | 11.45B | 10.57B | 10.38B | 11.01B |
| Stockholders Equity | 10.58B | 10.75B | 10.33B | 10.32B | 10.25B | 8.02B |
Cash Flow | ||||||
| Free Cash Flow | 753.25M | 0.00 | 1.14B | 1.58B | 1.40B | 1.40B |
| Operating Cash Flow | 1.30B | 2.35B | 1.91B | 2.52B | 2.26B | 1.78B |
| Investing Cash Flow | -325.61M | -787.21M | -1.12B | -986.28M | -1.65B | 515.56M |
| Financing Cash Flow | -931.74M | -1.63B | -779.57M | -1.53B | -1.39B | -1.92B |
DCW Ltd. Technical Analysis
Neutral
57.75
Price Trends
46.39
Positive
46.65
Positive
56.28
Negative
Market Momentum
-0.17
Positive
49.77
Neutral
22.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DCW, the sentiment is Neutral. The current price of 57.75 is above the 20-day moving average (MA) of 46.88, above the 50-day MA of 46.39, and above the 200-day MA of 56.28, indicating a neutral trend. The MACD of -0.17 indicates Positive momentum. The RSI at 49.77 is Neutral, neither overbought nor oversold. The STOCH value of 22.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DCW.
DCW Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹24.15B | 13.44 | ― | 4.47% | -8.71% | 0.04% | |
75 Outperform | ₹39.65B | 8.58 | ― | 2.10% | -3.75% | -23.38% | |
69 Neutral | ₹48.10B | 14.50 | ― | 0.46% | -0.90% | -9.07% | |
62 Neutral | ₹12.91B | 11.99 | ― | 0.22% | 14.49% | 335.18% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | ₹65.96B | 21.47 | ― | 0.47% | 11.76% | 25.41% | |
54 Neutral | ₹13.82B | 28.75 | ― | 0.16% | 7.16% | 58.82% |
* Basic Materials Sector Average
IN:DCW
DCW Ltd.
46.81
-31.70
-40.38%
IN:BEPL
Bhansali Engineering Polymers Ltd.
97.04
-12.34
-11.29%
IN:EPIGRAL
Epigral Ltd
1,114.90
-692.74
-38.32%
IN:GHCL
Ghcl Limited
430.35
-180.07
-29.50%
IN:GULPOLY
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207.00
26.19
14.48%
IN:INDIAGLYCO
India Glycols Limited
984.10
45.91
4.89%
DCW Ltd. Corporate Events
DCW launches ‘Saksham Niveshak’ campaign to help shareholders claim unpaid dividends
Jun 3, 2026
DCW Ltd. has launched the “Second 100 days Campaign – Saksham Niveshak” from April 1 to July 9, 2026, in line with a directive from the Investor Education and Protection Fund Authority of the Ministry of Corporate Affairs. The in...
DCW Ltd. Publishes Q4 and FY26 Investor Presentation
May 5, 2026
DCW Ltd. has released its investor and earnings presentation for the fourth quarter and full financial year ended 31 March 2026, aimed at providing analysts and investors with detailed performance and financial information. The presentation, now a...
DCW Ltd. Closes Trading Window Ahead of FY26 Results
Mar 26, 2026
DCW Ltd. has announced the closure of its trading window for designated persons and their immediate relatives from 1 April 2026 until 48 hours after the announcement of its financial results for the quarter and financial year ended 31 March 2026. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.