DCW Board Approves Rs 40 Crore Open Market Buyback At Rs 58

Q2 FY27 Standalone Results YoY: Revenue at 663 Cr vs 539 Cr, up 22.9%. EBITDA at 54.6 Cr vs 62.6 Cr, down 12.9%. EBITDA Margin at 8.2% vs 11.6%, contraction of 340bps. PAT at 10.4 Cr vs 13.8 Cr, down 25.0%. Basic EBIT 5.5 Cr vs 0.4 Cr; Speciality 18.8 Cr vs 33.9 Cr. Context: specialty below usual cushion. Board approved Rs 40 Cr buyback at max Rs 58/share. H1 FY27 EBITDA includes Rs 8.1 Cr provision write-back per CFS, ~8% of H1 EBITDA. EBITDA margin contraction driven by change in inventories at 63.5 Cr vs 25.0 Cr vs revenue growth of 22.9%.