DCM Shriram, a north-based chemical manufacturer has reported ₹172 crore profit after tax for the second quarter of the financial year 2017-2018. This is 88 per cent higher than the bottom line reported by the company in the corresponding period of the last financial year.

The company’s net revenue from operations stood at ₹ 1,605 crore during the quarter under consideration. This was 17.5 per cent higher than the ₹1,366 crore top-line reported in the corresponding quarter of the last financial year.

The maximum gain came from the chloro-vinyl business. Revenue was up 47 per cent from the vertical as a result of the chemical expansion last year. “Volumes were up 24 per cent from the expansion at Bharuch commissioned in phases. Prices have improved and the current expanded capacity is at 90 per cent,” a company statement said.

In a joint statement, Ajay Shriram, Chairman and Senior Managing Director and Vikram Shriram, Vice Chairman and Managing Director said, “We are implementing projects on an investments of ₹350 crores to set up 150 KLD distillery, expand chlor-alkali process and set up aluminum chloride business.”

“These will be commissioned by the second quarter of financial year 2018-2019. We are undertaking additional investments of ₹ 850 crore for capacity expansion as well as cost optimisation in our chemicals and sugar business including the upgradation and expansion of captive power plant at Kota,” the statement added.

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