The Rs. 3,500 crore Capex is on schedule and will lead to substantial enhancement in reported results in the coming years, Ajay Shriram, Chairman & Senior MD, said during Q2 & FY'23 Earnings Conference Call of DCM Shriram Limited.  

"In line with a desire to be more sustainable, we are pursuing projects, which will enhance resource conservation, increase use of green energy, lower energy usage, and further encourage the circular economy we are already having. Some of these initiatives are underway and will bear fruit in the coming years," Shriram added. 

He further said that the investment in capacity building, better integration, cost, efficiency, innovation and value creation are all aimed at driving business momentum while limiting the negative impacts of such a volatile operating environment.

On the Chemicals front, Shriram informed: "A lot will also depend upon expected recessionary pressure across the world in coming months. Work on growth initiatives continues with an additional 120-megawatt captive power plant getting online by December ’22, and the aluminum chloride expansion at the Bharuch complex getting operational within this financial year. We are building value creating businesses in the form of epichlorohydrin and hydrogen peroxide and these will be commissioned in the early part of the financial year ’24. The 50- megawatt green power supply will be fully operational from Q2 of financial year ‘24."

The company expects to start crushing operations from the first week of November. “Our growth initiatives are on track to build capacities, further integration and further value capture from the distillery ash. These projects will get commissioned in Q3 financial year ’23 and will add to earnings in the coming season. Our potassium sulfate project from distillery ash is coming up in a subsidiary and will be commissioned by Q1 financial year ‘24," he added.