Textile · Founded 2022 · https://dcmsil.com/ · BSE 544702 · NSE DCMSIL · ISIN INE0OU201013
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1. Business Overview
DCM Shriram International Ltd. (DCMSIL) operates within the textile sector in India. As a textile company, its core business involves the manufacturing and processing of various textile products. This typically includes activities such as spinning (producing yarn), weaving (producing fabric), processing (dyeing, printing, finishing), and potentially garmenting or producing home textiles. The "International" in its name suggests a significant focus on exports and serving global markets, alongside domestic sales. The company makes money by selling its manufactured textile goods to various customers, which can include garment manufacturers, retailers, brands, and other businesses, both domestically and internationally.
2. Key Segments / Revenue Mix
Specific segment breakdowns for DCM Shriram International Ltd. are not publicly available from the provided information. However, typical revenue streams for an integrated textile company in India could include:
Yarn Sales: Selling various types of spun yarn.
Fabric Sales: Selling woven or knitted fabrics.
Finished Goods/Garments/Home Textiles: Selling processed fabrics, apparel, or home furnishing items.
Given the "International" designation, a significant portion of its revenue is likely derived from exports.
3. Industry & Positioning
The Indian textile industry is one of the oldest and largest industries in the country, characterized by its labor-intensive nature, significant contribution to employment, and strong export orientation. It is a diverse and competitive industry, ranging from unorganized players to large, vertically integrated manufacturers. India is a major producer of cotton and various synthetic fibers. DCMSIL operates within this competitive landscape. Given its affiliation with the DCM Shriram group and the "International" in its name, it likely positions itself as an established player with an emphasis on quality, scale, and adherence to international standards, catering to global supply chains and export markets. Its position would be among organized sector players.
4. Competitive Advantage (Moat)
Without specific details, identifying a strong, durable moat is challenging. However, potential competitive advantages for a company like DCMSIL could include:
Scale and Vertical Integration: As part of a larger group, it might leverage economies of scale in production and potentially integrated operations from yarn to finished products, leading to cost efficiencies.
Established Relationships: Strong, long-standing relationships with international buyers and brands due to its "International" focus.
Quality and Compliance: Adherence to international quality standards, certifications, and ethical manufacturing practices, which are crucial for export markets.
Access to Raw Materials: Proximity or efficient sourcing strategies for key raw materials within India.
It is unlikely to possess a strong brand moat in the consumer-facing sense unless it has its own retail brands.
5. Growth Drivers
Growing Global Demand: Increasing global population, rising disposable incomes, and urbanization drive demand for apparel and home textiles.
"China Plus One" Strategy: Global supply chain diversification away from China benefits Indian textile manufacturers with strong export capabilities.
Government Initiatives: Indian government policies like the Production Linked Incentive (PLI) scheme for textiles and apparel, and schemes for mega textile parks (PM MITRA), aim to boost manufacturing and exports.
Focus on Sustainability: Growing global demand for sustainable and eco-friendly textiles could be a driver for companies adapting to these trends.
Technological Advancements: Investment in modern machinery and processes to improve efficiency, quality, and reduce costs.
6. Risks
Raw Material Price Volatility: Fluctuations in prices of cotton, synthetic fibers, and other inputs can significantly impact profitability.
Intense Competition: The textile industry is highly competitive, leading to pricing pressures and margin erosion.
Global Economic Slowdown: A downturn in major economies can reduce demand for textiles, especially for export-oriented businesses.
Currency Fluctuations: For an "International" company, adverse movements in foreign exchange rates can impact export realizations and import costs.
Changing Fashion Trends & Consumer Preferences: Rapid shifts in fashion and consumer demand require quick adaptation and can lead to inventory obsolescence.
Regulatory and Environmental Compliance: Increasing stringency in environmental norms and labor laws can add to operational costs.
Geopolitical Tensions & Trade Barriers: Disruptions in international trade routes or imposition of tariffs can affect export markets.
7. Management & Ownership
DCM Shriram International Ltd. is part of the broader DCM Shriram group, a well-established Indian conglomerate with diverse business interests. This typically implies promoter-led management with a long-term vision. The ownership structure is likely dominated by the promoter group, which is common for many Indian companies. While specific details on the current management team are not provided, affiliation with a reputed group suggests established corporate governance practices.
8. Outlook
DCM Shriram International Ltd. operates in a critical sector with significant opportunities. The "China Plus One" strategy, coupled with supportive government policies and increasing global demand for textiles, presents a strong potential tailwind for its international business. Its likely focus on exports suggests it is positioned to capitalize on these global shifts. However, the company faces inherent challenges common to the textile industry, including volatile raw material prices, intense competition, and the cyclical nature of global demand. Its ability to maintain cost efficiencies, adapt to evolving fashion trends, invest in sustainable practices, and navigate geopolitical and trade complexities will be key to its sustained performance.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Dec 2024 | Mar 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Net Sales | 146 | 120 | 118 | 116 |
| Other Income | 4 | 5 | 3 | 5 |
| Total Income | 149 | 125 | 121 | 121 |
| Total Expenditure | 124 | 107 | 111 | 110 |
| Operating Profit | 25 | 18 | 10 | 11 |
| Interest | 2 | 2 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -21 |
| Profit Before Tax | 20 | 12 | 5 | -15 |
| Provision for Tax | 5 | 3 | 1 | 1 |
| Profit After Tax | 15 | 9 | 4 | -16 |
| Adjustments | 0 | 0 | -0 | -2 |
| Profit After Adjustments | 15 | 9 | 4 | -18 |
| Adjusted Earnings Per Share | 1.8 | 1.1 | 0.4 | -2.1 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 687 | 574 | 500 |
| Other Income | 14 | 16 | 17 |
| Total Income | 701 | 590 | 516 |
| Total Expenditure | 542 | 487 | 452 |
| Operating Profit | 159 | 103 | 64 |
| Interest | 7 | 6 | 6 |
| Depreciation | 14 | 14 | 15 |
| Exceptional Income / Expenses | 0 | 0 | -21 |
| Profit Before Tax | 139 | 84 | 22 |
| Provision for Tax | 36 | 21 | 10 |
| Profit After Tax | 103 | 63 | 12 |
| Adjustments | 0 | 0 | -2 |
| Profit After Adjustments | 103 | 63 | 10 |
| Adjusted Earnings Per Share | 11.8 | 7.2 | 1.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -16% | 0% | 0% | 0% |
| Operating Profit CAGR | -35% | 0% | 0% | 0% |
| PAT CAGR | -39% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 18% | 24% | 24% | 24% |
| ROCE Average | 21% | 30% | 30% | 30% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | 331 | 388 |
| Minority's Interest | 0 | 0 |
| Borrowings | 2 | 11 |
| Other Non-Current Liabilities | 38 | 37 |
| Total Current Liabilities | 198 | 185 |
| Total Liabilities | 569 | 621 |
| Fixed Assets | 204 | 220 |
| Other Non-Current Assets | 25 | 39 |
| Total Current Assets | 339 | 361 |
| Total Assets | 569 | 621 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 |
| Cash Flow from Operating Activities | 84 | 51 |
| Cash Flow from Investing Activities | -14 | -56 |
| Cash Flow from Financing Activities | -70 | 6 |
| Net Cash Inflow / Outflow | -0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | 11.81 | 7.25 |
| CEPS(Rs) | 13.38 | 8.9 |
| DPS(Rs) | 0.79 | 0.67 |
| Book NAV/Share(Rs) | 38.05 | 44.61 |
| Core EBITDA Margin(%) | 21.16 | 15.13 |
| EBIT Margin(%) | 21.2 | 15.73 |
| Pre Tax Margin(%) | 20.23 | 14.69 |
| PAT Margin (%) | 14.95 | 10.99 |
| Cash Profit Margin (%) | 16.94 | 13.49 |
| ROA(%) | 18.06 | 10.6 |
| ROE(%) | 31.03 | 17.54 |
| ROCE(%) | 38.03 | 21.4 |
| Receivable days | 95.25 | 99.3 |
| Inventory Days | 58.57 | 86.4 |
| Payable days | 179.35 | 222.42 |
| PER(x) | 0 | 0 |
| Price/Book(x) | 0 | 0 |
| Dividend Yield(%) | 0 | 0 |
| EV/Net Sales(x) | 0.09 | 0.09 |
| EV/Core EBITDA(x) | 0.37 | 0.52 |
| Net Sales Growth(%) | 0 | -16.51 |
| EBIT Growth(%) | 0 | -38.05 |
| PAT Growth(%) | 0 | -38.59 |
| EPS Growth(%) | 0 | -38.59 |
| Debt/Equity(x) | 0.16 | 0.19 |
| Current Ratio(x) | 1.72 | 1.96 |
| Quick Ratio(x) | 1.16 | 1.08 |
| Interest Cover(x) | 21.88 | 15.07 |
| Total Debt/Mcap(x) | 0 | 0 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 50.11 | 50.11 |
| FII | 1.49 | 1.49 |
| DII | 8.97 | 8.97 |
| Public | 39.43 | 39.43 |
| Others | 0 | 0 |
| Total | 100 | 100 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 4.36 | 4.36 |
| FII | 0.13 | 0.13 |
| DII | 0.78 | 0.78 |
| Public | 3.43 | 3.43 |
| Others | 0 | 0 |
| Total | 8.7 | 8.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -16% | — | — | — |
| Operating Profit CAGR | -35% | — | — | — |
| PAT CAGR | -39% | — | — | — |
| Share Price CAGR | — | — | — | — |
| ROE Average | +18% | +24% | +24% | +24% |
| ROCE Average | +21% | +30% | +30% | +30% |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 50.11 | 50.11 |
| FII | 1.49 | 1.49 |
| DII | 8.97 | 8.97 |
| Public | 49.89 | 49.89 |
| Others | 0 | 0 |
| Total | 100 | 100 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 4.36 | 4.36 |
| FII | 0.13 | 0.13 |
| DII | 0.78 | 0.78 |
| Public | 4.34 | 4.34 |
| Others | 0 | 0 |
| Total | 8.7 | 8.7 |
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