DCW Ltd - Stock Valuation and Financial Performance

DCW was started way back in 1925 with the foundation of India’s first Soda Ash factory at Dhrangadhra. The plant was taken over in 1939 and run under the name Dhrangadhra Chemical Works, from there the growth of company began.

DCW is a diversified manufacturer of basic chemicals, such as:  Caustic Soda,Liquid Chlorine and Chlorine based products such as Trichloroethylene and HCL, Upgraded Ilmenite or Synthetic Rutile ,Yellow Iron Oxide, PVC Resin, Soda Ash,  Ammonium bi-carbonate and Liquid Bromine and Bromide. 

It received a major impetus in 1959 with the commissioning of the chlor-alkali plant at Sahupuram in the southern state of Tamilnadu. Growth at the chlor-alkali complex was rapid as between 1965 and 1970 three plants were erected that turned the co-product chlorine into a money spinner; a liquid chlorine plant in 1965, the country’s first tri-chloroethylene plant (left) in 1968 and an integrated PVC resin plant in 1970-making the company one of the first in the nascent petrochemicals field. In the same year, 1970, the company set up a plant to manufacture upgraded ilmenite, the first of its kind in Asia, and even today, one of the few of its kind in the world. In 1986, to reflect the expanded activity spectrum, and its emergence as a multi-product and multi-locational company, the corporate name was changed simply to DCW Ltd.

DCW pioneered the manufacture of Soda Ash in India. The original capacity of 60 tonnes per day has been increased in stages to the present day capacity of 300 TPD and new products have been added to bring diversity to the product portfolio.

The output of Caustic Soda has been increased in stages from 28,000 TPA to 80,000 TPA, making DCW one of the leading producers of this basic chemical in India.The product range of the Soda Ash division now reads an impressive 96,000 TPA of Soda Ash, Ammonium Bicarbonate 5000 TPA, Soda Bicarbonate 12,000 TPA, Liquid Bromine 300 TPA; Isopropyl Bromide 120 TPA; Ethyl Bromide 40 TPA; Butyl Bromide 8 TPA. Calcium Chloride is also produced but its production is seasonal.

In petrochemicals it successfully erected a total storage capacity of 5,600 MT of PVC at Tuticorin port (a distance of 30 km from the plant) - including a huge 5000 M3 sphere.

At Dhrangadhra, DCW contributes substantially to the S.P. Jain Arts and Commerce College, and the Panjarapole Trust which maintains old cattle. In addition, DCW maintains a club for the welfare of its employees and runs a primary school at the labour colony. The company also makes contributions to the Kidney Disease Research Centre for hospital patients and to the Tiffin Seva Mandal for feeding the poor.

DCW was the first, and is currently the only Indian producer to handle and store imported VCM, a volatile gas.

Milestones achieved

• 2013
  - 'National Energy Management Award’ from CII to certify that DCW Ltd, Sahupuram is an Excellent Energy Efficient Unit’ for 2012
• 2012
  - 'National Energy Management Award’ from CII to certify that DCW is an Excellent Energy Efficient Unit.
• 2011
  - 'National Energy Management Award’ from CII to certify that DCW is an Excellent Energy Efficient Unit.
• 2010
  - 'National Energy Management Award’ from CII to certify that DCW is an Excellent Energy Efficient Unit.
  - 'National Energy Management Award’ from CII to certify that the project implemented by DCW is an Innovation Project.
  - DCW Awarded Best Managed Chlor-Alkali Plant by Alkali Manufacturers' Association of India.
  -DCW Limited has entered into a Technical License and Support Agreement with Rockwood Italia (Italy), a leading producer of synthetic iron oxides
  - DCW Limited has entered into a Technical License Agreement with Arkema, France, Europe's leading producer of Vinyl Products.
• DCW Company has commenced sale of it’s Surplus Power from the Company’s 2 x 25 MW Coal based Captive Co Generation Plant situated at Sahupuram in Tamilnadu to Tamil Nadu Electricity Board in April 2009.
• 1986-In collaboration with CSIO, Chandigarh, a process for current monitoring based on microprocessors was developed in the Caustic Soda Cells to result in energy saving of 125 KWH per ton of Caustic Soda.
• 1985-Development of a new product called 'Weldgrade beneficiated ilmenite' developed by DCW for the welding rods industry. (1985)
• 1985-Process of de-mercurisation of mercury - bearing water effluent developed for the first time by DCW. (1985)
• In 1992-93, DCW also perfected the production of high purity synthetic rutile wherein the purity of TiO2 is over 95%.