Investor Presentation

Better Chemistry. Better Tomorrow. October 29, 2026 National Stock Exchange of India Ltd. BSE Limited Exchange Plaza Bldg. Department of Corporate Services, 5th Floor, Plot No.C-1 l8tfloor, New Trading Ring 'G' Block, Near Wockhardt, Rotunda Building, Sandra Kurla Complex Phiroze Jeejeebhoy Towers, Mumbai 400 051 Dalal Street, Mumbai -400 001 Symbol: DCW Scrip Code : 500117 Dear Sir(s)/Madam, Sub: Investors' Presentation Pursuant to Regulation 30 and Para A of Part A of Schedule Ill of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are submitting herewith the presentation of DCW Limited ("the Company") for the quarter ended September 30, 2026, to be made to investors and analysts. The same is also being uploaded on the Company's website at httos://wvl/w.dcwltd.com in compliance with Regulation 46(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. You are requested to take the aforesaid information on your record. Thanking You, Yours faithfully, For DCW Limit Dilip Darji Sr. General Mana - gal) 6 Company Secretary Membership No. ACS-22527 Encl: A/a REGISTERED DCW LIMITED MUMBAI DCW LIMITED OFFICE Dhrangadhra 363310, Nirmal, 3rd Floor, Surendranagar District, Gujarat. Nariman Point, Mumbai 400021 ho@dcwltd.com +91 (22) 49573000/49573001 www.dcwltd.com ho@dcwltd.com CIN -L241 l OGJ1939PLC000748 Earning Presentation Q2/H1-FY27 Snapshot Snapshot BUSINESS 8+ 2 Pioneer Leading Largest and Decades of State-of-the-Art In India Soda Ash, C-PVC, Manufacturer of Unique Experience Integrated Synthetic Rutile & C-PVC and SIOP Commercial scale Manufacturing Units SIOP in India manufacturer of SIOP in the Asia OPERATIONS 15+ 1,800 Zero 58 MW ~2,900 Chemicals spread across Employees Effluent and waste Captive Acres of land Basic & Specialty Process Power Capacity available FINANCIALS 8% 66% 28% 0.07 9.74% 5-year Revenue 5-year PAT Specialty Chemicals Net Debt to Equity Ratio FY26 ROCE CAGR CAGR Revenue contribution 0.32 from 0.5% in FY16 Net Debt to EBITDA Ratio * As on FY26 end Business Overview Financial Highlights Historical Financial Overview Company Overview Operating Revenue (INR Mn) and EBITDA Margins (%) • Incorporated in 1939, DCW Ltd. was established as Dhrangadhra Chemical Works at Dhrangadhra, 21,436 Gujarat as India’s first Soda Ash plant. 18,716 20,003 • Since then, DCW has pioneered and created a strong presence in the Chlor-Alkali, Synthetic Rutile 12,048 and PVC business segments, with a successful record of innovation in new products and processes. • Over the years the company has expanded, diversified and modernized its operations with a 9.38% 9.67% 10.34% 6.91% diversified range of products for supply to customers in both, domestic and international markets FY24 FY25 FY26 H1-FY27 with a conscious strategic shift towards specialty chemicals. • DCW has an extensive distribution network spanning over 14 countries across USA, Europe, Japan, Geographical Revenue Break-up (As on FY26) Malaysia and Netherlands catering to over 100+ customers. • Today it has two state of the art manufacturing facilities located in Dhrangadhra, Gujarat and Sahupuram, Tamil Nadu. Product Basket • Specialty Chemicals: Synthetic Iron Oxide Pigments (SIOP) and Chlorinated Poly Vinyl Chloride (C- DOMESTIC EXPORT PVC) • Basic Chemicals: Soda Ash, Caustic Soda, Poly Vinyl Chloride (PVC) FY26 Segmental Revenue FY26 Segmental EBITDA • Intermediate Chemicals: Synthetic Rutile (SR), Liquid Chlorine, Hydrochloric Acid, Trichloroethylene, Utox, Ferric Chloride, and Sodium Hypochlorite, Sodium Bicarbonate and Ammonium Bicarbonate. Others Specialty Basic Chemicals, , 1% Chemicals, Basic Chemicals, Specialty 71% Chemical, 80% Others, Key Milestones Growth in Basic Chemicals Expansion towards Specialty Chemicals Entered into a Commissioned 20KT of CPVC Setup one of the Technical License and capacity addition and Commissioning of first integrated Support Agreement Commenced energised Solar park under the Chlor-alkali plants in India to with Rockwood Italia production of 1st group captive for Plant at manufacture PVC (Italy), and Arkema, and only substitution of 25% power Sahupuram in and Synthetic Rutile France, Europe C-PVC plant in India requirement in Sahupuram. Tamil Nadu 1925 1968 1986 2016 2022 2026 1959 1970 2010 2017 2025 Incorporated Founded India’s Changed Commissioned Doubling of CPVC Commissioned India’s 1st Soda 1st Company’s name one of Asia’s Capacity to 20KT 10,000 metric tonnes Ash factory at Trichloroethylen to DCW Limited largest scale of & Chlorinated Polyvinyl Dhrangadhra, e plant Synthetic Iron Debottlenecking Chloride expansion, Gujarat Oxide Pigment SIOP Plant to full taking total capacity plant capacity of 28KT to 50,000 metric from 18KT tonnes. Moving up the value chain by pioneering various specialty chemical products and processes in India Marquee Customers Basic Chemicals SpSepceiacliatylt yC Chheemmiiccaallss Value Proposition Significant Scale-up Technology Tie- Diversified Application Niche & Diversified Opportunities ups Base Product Mix Over 2,500- acre land bank available at Licensed technology from Arkema & Catering to over 15 industries Diversified product mix of Sahupuram facility provides easy scale-up technical assistance from Rockwood with high end-user growing Basic, Specialty and Others Pigments for SIOP markets opportunity without incurring additional capex for land. 1 3 5 7 9 2 4 6 8 Strategic Location Moving up the Self Sufficiency Well Established Planned Capital Value Chain Relationships Expenditure Sahupuram Facility Increasing the contribution 58 MW Co-Generation power With over 8 decades of Next growth phase led situated in the vicinity of from high value, high margin plant ensures cost-effective, existence DCW has built strong by Specialty Chemicals Specialty Chemicals uninterrupted power supply. And client and supplier to boost revenue & the port providing Segments. major raw materials like Salt, relationships across domestic margins with planned logistical advantage for Liquid Chlorine, Hydrogen, and international markets Capex to double C-PVC the export markets and Hydrochloric Acid, etc. are capacity and increase tactical raw material captively produced to make value SIOP throughput procurement added products. Capital Expenditure • Total expansion in SIOP is planned for 15,000 MT (50% capacity enhancement) in phased manner with Phase I Capacity ramp up of 7,000 MT and Phase II growth of 8,000 MT to be undertraken post completion of phase I. Value added products in the pigment category will enter the market during FY28 alongside the construction and commissioning of Phase I growth. • Further the Company is also investing in Power Plant for efficiency improvement resulting in reduction power cost at its Sahupuram facility. • The total capex investment for the entire projects including both phase of SIOP is estimated to be INR 250 Cr spent over next 2-3 years. Project Planned Date of Capitalisation Change in Capacity Remarks Aimed in strengthening pigment portfolio across SIOP – Phase I Q4-FY28 7,000 MT domestic and international markets Improved power generation efficiency and Power Plant Efficiency Capex Q4-FY28 NA resultant power cost reduction at Sahupuram facilities Business Overview Financial Highlights Historical Financial Overview Key Financial and Operational Highlights Q2-FY27 Financial Performance Q2/H1-FY27 Operational Highlights • Q2 Revenue from Operations grew 22.9% YoY to INR 6,629 Mn, driven by 31.5% Revenue from EBITDA growth in Speciality Chemicals and 19.9% growth in Basic Chemicals. EBITDA Margins Operations • Speciality Chemicals benefited from higher CPVC volumes following capacity INR 475 Mn 7.17% INR 6,629 Mn expansion, while Basic Chemicals growth was supported by increased Caustic (18.1)% Y-o-Y (359) Bps Y-o-Y 22.9% Y-o-Y Soda and Synthetic Rutile volumes and improved PVC realisations. • On a sequential basis, Q2 Revenue from Operations g [Showing first 8,000 characters — download PDF for full document]