DCW Share Price

DCW is engaged in the business of manufacturing of niche specialty chemicals in India and offers a diverse range of products focusing on commodity, specialty, and intermediate products. The share price on the NSE and BSE is a reflection of how market participants respond to a company’s performance and broader business developments within its industry. It captures the sentiment of the investors based on financial results, operational updates, macroeconomic factors, and trends specific to sectors. Movements in the share price͏ reveal how the market evaluates the company’s current position and its future prospects, making ͏it a key indicator of market perception across various industries.  

DCW stock price is affected by factors such as earnings, raw material costs, product demand cycles, and regulatory and environmental norms. In ͏the longer run, ͏strategie͏s like capacity utilisation, product diversification, and advancement in operation efficiency influence the stock ͏market sentiment. All these weights must be closely monitored to have an idea about the DCW stock price movements.  

DCW live share price provides real-time information about the last price traded, bid price, ask price, and volume traded. These indicators represent trading activity and liquidity and the reaction of investors to corporate announcements, quarterly results, and sector news. Constant ͏monitoring of DCW live price helps observe short-term price fluctuations and understand how the stock is moving in relation to the broader market. 

Furthermore, monitoring the DCW share͏ price today helps investors understand real-time market sentiment, price volatility, and trading behaviour. It allows market participants to evaluate short-term performance, identify possible entry or exit points, and respond to news, quarterly results or sector trends that may affect the company’s valuation and overall investment outlook. 

Dcw Limited Company Fundamentals

DCW Limited Company Background 

DCW Limited is an Indian chemical manufacturing company with origins dating back to 1939, when it took over operations of India’s first soda ash plant at Dhrangadhra in Gujarat. Over the decades, the company has developed a diversified portfolio that includes commodity, intermediate, and specialty chemicals, supplying products to both domestic and international markets. Its product range covers soda ash, caustic soda, PVC, synthetic rutile, synthetic iron oxide pigments, and other chemical intermediates used by various industrial sectors. DCW operates major manufacturing facilities in Gujarat and at Sahupuram in Tamil Nadu, with corporate offices in Mumbai and branches in cities such as New Delhi and Chennai. The company has expanded its distribution network and exports to multiple countries across North America, Europe, and Asia. Its evolution reflects a shift from primary commodity chemicals toward higher-value specialty chemicals, supported by ongoing investment in capacity and processes. DCW’s operations and product mix continue to serve sectors including plastics, agriculture, water treatment, and industrial manufacturing in a competitive chemical industry landscape.  

DCW Limited Company Product Lines 

Specialty Chemicals 

• C-PVC 
• Synthetic Iron Oxide Pigment 
• Synthetic Rutile 

Intermediate Chemicals 

• Ammonium Bicarbonate 
• Sodium Bicarbonate 
• Hydrochloric Acid 
• Liquid Chlorine 
• Trichloroethylene 

Commodity Chemicals 

• Soda Ash 
• Caustic Soda 
• PVC 

DCW Company Revenue Model 

• Sale of basic chemical products: DCW earns revenue by manufacturing and selling commodity chemicals such as soda ash, caustic soda and PVC resin. These are foundational industrial chemicals used in detergents, glass, construction materials and other industrial sectors.  
• Specialty chemicals sales: A growing share of revenue comes from specialty chemical products (e.g., chlorinated PVC (CPVC), synthetic iron oxide pigments, and other niche chemicals). These products typically command higher margins and help diversify earnings.  
• Intermediate chemical products: The company also generates revenue from intermediate chemicals (like hydrochloric acid, liquid chlorine and sodium bicarbonate) that are used as inputs by other manufacturers.  
• Domestic and international distribution: DCW has an extensive distribution network that sells products across India and exports to markets in multiple countries, thus broadening its revenue base.  
• Product diversification strategy: DCW continuously expands and innovates its product mix—from commodity chemicals to highervalue specialty segments—to balance volumebased income with marginenhanced revenue streams.  
• Captive power and operational efficiencies (indirect revenue support): While not a direct sales revenue, the company’s captive power generation helps reduce production costs, indirectly supporting stronger operating performance and profitability tied to its revenue model. 

DCW Limited Geographic Presence 

Corporate & Office Presence 

• Head Office – Mumbai, Maharashtra, India – Corporate headquarters location.  
• Branch Office – New Delhi, Delhi, India – Liaison/branch office.  
• Branch Office – Chennai, Tamil Nadu, India – Regional office.  

Manufacturing & Plant Locations 

• Manufacturing Plant – Dhrangadhra, Gujarat, India – Key production site.  
• Manufacturing Plant – Sahupuram, Tuticorin District, Tamil Nadu, India – Production facility.  

DCW Limited Leadership  

Some of key leaders for DCW Limited as of January 2026 are 

• Mr. Pramod Kumar Jain – Chairman Emeritus 
• Mr. Bakul Jain – Chairman & Managing Director 
• Mr. Vivek Jain – Managing Director 
• Mr. Ashish Jain – Managing Director 
• Mr. Mahesh Vennelkanti – Independent Director 
• Ms. Poornima Prabhu – Independent Director 
• Mr. Krishnamoorthy Krishnan – Independent Director 
• Mr. Saatvik Jain – President 
• Mr. Amitabh Gupta – Chief Executive Officer 
• Mr. Sudarshan Ganapathy – Chief Operating Officer 
• Mr. Pradipto Mukherjee – Chief Financial Officer 

DCW Limited Key Milestones 

• 1925 – Foundation stone laid for India’s first Soda Ash factory at Dhrangadhra, Gujarat. 
• 1939 – Plant taken over and operated under the name Dhrangadhra Chemical Works; DCW Limited incorporated in January 1939. 
• 1993 (Apr) – Pantape Magnetics amalgamated with DCW. 
• 1994 – Rights issue and GDR issued to install 30 MW power plant and expand PVC plant from 42,000 tpa to 60,000 tpa. 
• 1994-95 – Expansion of PVC plant completed. 
• 1995-96 – Four of five 6 MW generators commissioned for 30 MW captive power plant at Sahupuram. 
• 1996-97 – Proposal to set up Ferrite Grade Iron Oxide recovery facility in technical collaboration with International Steel Services Inc., USA; project put on hold. 
• 1997 (4 Aug) – Scheme of Arrangement with Crescent Finstock Private Limited approved. 
• 2000 (1 Apr) – Pantape Magnetics Limited fully amalgamated; shares allotted to vendors and shareholders. 
• 2001 – Soda Ash Division faced low performance due to high labour and excess supply; de-bottlenecking projects sanctioned by IDBI for Illmenite, Caustic Soda, and PVC plants at Rs. 33 crores. 
• 2004 – Installed 1.15 MW Wind Mills Project in Gujarat. 
• 2006 – Implemented 11.2 MW Windmill Project (14 units) in Tamil Nadu. 
• 2007 (Apr) – Beneficiated Illmenite Plant project increased capacity from 30,000 TPA to 42,000 TPA. 
• 2009 – Thermal Co-generation Power Plant commissioned at Sahupuram for 50 MW power and 85 TPH steam. 
• 2010 – Additional 8.27 MW turbine commissioned at Thermal Power Plant. 
• 2014 – VCM Stripping Tower and Fluidised Bed Dryer commissioned at PVC unit; Producer Gas Plant trail runs started at Sahupuram; Reverse Osmosis (RO) plant commissioned. 
• 2015 (May) – Synthetic Iron Oxide Pigment (SIOP) cum Calcium Chloride Plant commenced commercial production. 
• 2016-17 – Chlorinated PVC (C-PVC) plant commissioned at Sahupuram; DCW became India’s first and only C-PVC manufacturer under Arkema technical license. 
• 2024 (29 Jan) – Acquired 28.96% equity shares of Kaze Renewables Pvt Ltd, making it an associate company. 
• 2025 (13 Feb) – Board approved Scheme of Amalgamation for merger of Dhrangadhara Trading Company Pvt Ltd (DTCPL) and Sahu Brothers Pvt Ltd (SBPL), pending final approval. 

Industry Perspective 

DCW Limited operates in the Indian chemical industry, a core sector that produces bulk and specialty chemicals such as soda ash, caustic soda, PVC, intermediate chemicals, and specialty products like CPVC and iron oxide pigments as shown on the company’s website. The Indian chemicals sector is a major global player — it’s the sixthlargest producer globally and third in Asia, contributing about 7% to India’s GDP. The industry is highly diversified, spanning commodity chemicals (e.g., soda ash, caustic soda), intermediate chemicals, and highvalue specialty chemicals.  

Globally the chemicals market is poised for solid expansion, with estimates projecting growth from around US$5,079 billion in 2023 to approximately US$6,852 billion by 2027 at a CAGR of ~7.8%. In segment forecasts, the soda ash market alone is expected to expand at a ~6.2% CAGR through 2030, while caustic soda is projected to grow at ~5.78% CAGR to 2028. Domestically, India’s chemical industry — valued at around US$232 billion in 2022 — is expected to reach about US$304 billion by 2025, with projected CAGR around 9.3%. Regionspecific markets also show strong growth; for example, the India chloralkali market is forecast to grow at ~8.9% CAGR through 2032, underpinning demand for essential chemicals such as caustic soda and chlorine. These figures reflect a vibrant and expanding chemical industry, driven by domestic demand, export potential, infrastructure development, and diversified product portfolios. 

Stock Market Presence: Listings & Index Representation 

DCW Limited is listed on the BSE (Bombay Stock Exchange) and on the NSE (National Stock Exchange). The company was listed on the stock exchanges in 1995. 

DCW Limited is an established entity in the Indian stock market, listed on major exchanges such as NSE (DCW) and BSE (500117). Its inclusion in prominent indices like the BSE 1000, BSE Next 250 Microcap, S&P BSE MidSmallCap, S&P BSE SmallCap, S&P BSE Basic Materials, and S&P BSE AllCap underscores the company’s significance in India’s chemical and basic materials sector. 

The DCW stock price is tracked by investors focused on the industrial and chemical sectors. Its inclusion in these indices reflects its market capitalisation and operational scale in chlor-alkali and cement production. Listing on NSE and BSE ensures liquidity, while its presence in sector-specific indices highlights its role within the basic materials segment of the economy. 

DCW Limited Stock Performance and DCW Share Price History 

The DCW share price on NSE and BSE reflects its position as a diversified chemical manufacturer. Performance is driven by factors like plant capacity utilization, pricing trends for caustic soda and cement, raw material costs, and demand from end-user industries. Investors compare the DCW share price today with sectoral indices and peer companies to gauge relative performance. 

These underlying factors are often visible through real market movements across different periods. Similar trends are observed during earnings-driven movements. Broader sector strength has also played a role in supporting the DCW share price. In addition to operational and sector-led factors, corporate actions can also have a significant impact on DCW share price movements short-term even when a company’s fundamentals remain stable. This shows how corporate actions can trigger short-term swings, even within an industry framework influenced by economic cycles and input costs. 

While short-term movements reflect events and announcements, longer-term valuation trends are visible through the DCW share price 52-week high and low, providing context beyond daily or weekly changes. The 52-week high of ₹90.36 and low of ₹47.48 capture the stock’s range, with the current price near the lower bound. These levels capture the impacts of industry cycles, growth expectations, margin pressures, and earnings visibility, providing context for the stock’s historical performance. 

DCW’s stock performance reflects the trading behaviour of a chemical company operating within India’s industrial landscape. The company’s diversified product portfolio and manufacturing footprint have shaped its DCW share price history. Over time, the stock has shown volatility, marked by periods of sharp gains and phases of decline. 

The DCW share price delivered a significant return of 128.64% over five years, rising from levels around ₹19.25. However, recent performance shows pressure, with the stock down 43.61% over one year and 37.3% over the last six months. This decline aligns with broader sector challenges and company-specific performance. From 2018 onwards, the DCW share price experienced volatility, mirroring broader market challenges and industry consolidation. 

DCW’s stock performance over time has followed economic and commodity cycles. For instance, the DCW share price reached a high of ₹113.00 in recent years, supported by favourable industry conditions. Over longer investment horizons, the stock has delivered meaningful returns, including the five-year gain of 128.64%. These returns highlight periods of growth aligned with specific industry upcycles. The DCW share price history also shows a 10-year return of 102.11%, though this has underperformed the broader Nifty 50 index. 

Recent data shows the DCW share price has decreased. In the last year, the stock fell 43.61%, underperforming the Nifty 50, Sensex, and its industry sector. Over three years, it declined 9.54%. Quarterly return patterns show the stock has historically experienced strength in Q2 and Q3 on average over five years, with gains of 11.45% and 29.45% respectively, but weakness in Q1 and Q4. The decline in recent quarters, such as Q1 2026 (-18.11%) and full-year 2025 (-36.15%), contributed to the downward pressure on the DCW stock price. The DCW share price movement reflects reactions to earnings, where recent annual EPS declined from ₹6.50 in March 2023 to ₹1.03 in March 2025, alongside broader sectoral headwinds. 

DCW Limited Investor Relevance and Role in Portfolio 

DCW offers exposure to the chemical and basic materials sector, specifically to chlor-alkali products, cement, and synthetic iron oxide. Inclusion in indices like the S&P BSE Basic Materials underscores its sectoral relevance. Factors like plant efficiency, product diversification, and raw material cost management make it a consideration for sector-specific allocations. 

DCW equity is held by a mix of institutional investors, reflecting its position in India’s industrial sector. Top mutual fund holders include Baron Select Funds, specifically the Baron Emerging Markets Fund and the Baron India Fund. Other holders include funds from Dimensional such as the Dimensional Emerging Markets Value Fund, Dimensional ETF Trust, and DFA Investment Trust Company. SPDR Index Shares Funds also hold a position through the SPDR S&P Emerging Markets Small Cap ETF. 

Beyond fundamentals and ownership, DCW’s stock is monitored in the markets, where trading activity reflects expectations on earnings, commodity price trends, and sector demand. Technical indicators such as RSI, MACD, and MFI provide additional insight into short-term momentum shifts in the DCW stock price. While primarily used for near-term trading, these tools can also help gauge market sentiment and potential volatility around major events like quarterly results. 

DCW’s beta indicates its volatility relative to the market. The long-term beta is 1.31, suggesting the stock has historically been more volatile than the broader market. Shorter-term beta readings show higher volatility, with a daily one-month beta of 2.34 and a daily three-month beta of 2.09. Weekly ranges over one and two years show betas of 1.68 and 1.78, respectively. The monthly two-year beta is 1.89. These figures, with a mean around 61-73 and standard deviations from 1.84 to 16.00 across periods, highlight that the DCW share price tends to experience amplified swings compared to the market average, which is characteristic of cyclical industrial stocks. 

DCW Limited Sectoral Relevance and Peer Positioning 

DCW’s sector relevance stems from its integrated manufacturing in chlor-alkali, cement, and synthetic iron oxide, establishing it as a key player in India’s basic materials and chemical ecosystem. Peer comparisons with other chemical manufacturers focus on product portfolio, plant capacity, operational efficiency, and raw material sourcing rather than short-term stock moves. These benchmarks help investors assess operational scale, cost structures, and market positioning. Institutional tracking of capacity utilization, product pricing trends, and input costs further highlights DCW’s role within India’s broader industrial and chemical markets. 

DCW market cap history shows significant growth and recent contraction. As of January 2026, its market capitalization stood at ₹14.38 billion. This represents a decrease of 46.80% over one year. The market cap was ₹27.04 billion at the end of 2024 and ₹17.20 billion at the end of 2025. Looking further back, it was ₹16.79 billion in 2023 and ₹15.07 billion in 2022. The market cap saw a major increase of 131.33% in 2021, reaching ₹11.56 billion. Since the year 2000, the company’s market cap has grown from ₹179.15 million to its current level, representing a compound annual growth rate of 18.51% over that long period. 

DCW earnings history reflects the cyclicality of the chemical industry. Net income showed strong growth in recent years, rising from ₹3.79 crore in March 2021 to ₹191.98 crore in March 2023. However, earnings declined to ₹15.66 crore in March 2024 and were ₹30.28 crore in March 2025. Profit Before Tax followed a similar pattern, reaching ₹274.41 crore in March 2023 before falling to ₹25.34 crore in March 2024 and recovering slightly to ₹49.36 crore in March 2025. EBITDA has also been variable, recording ₹490.68 crore in March 2023, ₹192.64 crore in March 2024, and ₹216.53 crore in March 2025. These fluctuations are tied to product pricing, demand cycles, and input cost pressures. 

DCW EPS mirrors its volatile profitability. EPS was ₹0.15 in March 2021, rising sharply to ₹4.12 in March 2022 and peaking at ₹6.50 in March 2023. A significant decline followed, with EPS dropping to ₹0.53 in March 2024. The latest reported EPS for March 2025 is ₹1.03. This represents a 94.34% increase from the previous year but remains far below the highs of 2023. The five-year CAGR for EPS stands at 24.14%, though the three-year CAGR is negative at -37.37%, highlighting the recent period of earnings compression that has influenced the DCW share price. 

DCW P/E ratio shows extreme variability due to sharp swings in earnings. The P/E ratio reached a very high 174.67 in March 2021 when earnings were low. It collapsed to 6.67 in March 2023 during the peak earnings period. The P/E ratio was 96.98 in March 2024 and 75.52 for the latest fiscal year ending March 2025. The trailing twelve months (TTM) P/E ratio is 28.97. These figures indicate that the market valuation of the DCW share price in relation to its earnings has been highly unstable, reflecting the challenges of valuing a company in a deeply cyclical industry. 

Summary 

DCW Limited is a diversified chemical company with a long-standing presence in sectors like chlor-alkali and cement. Its stock is listed on major Indian exchanges and included in several sectoral indices. The DCW share price history shows significant volatility, influenced by industry cycles, raw material costs, and company earnings. The stock attracts sector-specific investors and has a beta indicating higher-than-market volatility. Key financial metrics like market cap, EPS, and P/E ratio reflect the cyclical nature of its underlying business.