| Chemicals & Vinyl | Manufacture of chlor-alkali products, PVC and epoxy compounds, specialty chemicals, calcium carbide with captive power support. | Integrated captive power, technology partnerships, and strategic acquisitions such as HSCL. | B2B customers across chemical, textile, alumina, paper, agriculture, and construction industries. | Epoxy resins and specialty chemicals; downstream differentiated products. | 3535 | 29 | Sales of chemical products and compounds primarily to industrial clients. | Market-linked pricing with long-term supply contracts and spot sales. | Capacity expansions, downstream integration, epoxy and specialty chemical acquisitions, renewable energy lowering costs. | Caustic Soda, PVC Resins, Epoxy Resins, Aluminum Chloride, Hydrogen Peroxide |
| Sugar & Ethanol | Sugar crushing and refining, ethanol production, co-generation of power using bagasse and biomass. | Large scale operations with integrated co-gen and distillery, strategic location advantage in UP. | B2B and B2C including edible sugar market, ethanol distributors, and power purchasers. | Ethanol production and power exports are higher margin relative to sugar refining. | 4505 | 36 | Sale of sugar, ethanol, and power mostly to domestic markets and Government entities. | Market-based pricing with government-regulated sugar prices and ethanol blending incentives. | Expansion of crushing capacity, increased ethanol blending mandates, and power co-generation capacity. | DCM Sugar, DCM Ethanol |
| Fenesta Building Systems | Design, manufacture, and supply of uPVC and aluminum windows, doors, façade systems, and hardware. | Strong brand recognition, extensive dealer network, and multi-location manufacturing. | B2B and B2C including builders, architects, and homeowners across India and select international markets. | Specialty façade and premium window product lines. | 858 | 7 | Project sales and retail supply through dealers and company-owned stores. | Direct sales with project-based and retail pricing models. | Product innovation, geographic expansion, new product lines including façades and hardware acquisitions. | Fenesta (Windows, Doors, Façades) |
| Shriram Farm Solutions | Crop protection chemicals, specialty nutrients, hybrid seeds for wheat and other crops. | Technology-backed R&D and strong farmer relationships. | B2B and B2C focused on farming community across multiple states in India. | Research wheat seeds and niche crop protection products. | 1436 | 11 | Sales of seeds, pesticides, and specialty nutrients mainly to farmers and agri-businesses. | Market-driven with seasonal demand and direct sales models. | New product launches, higher volumes in research wheat, expanding farmer engagement programs. | Shriram Crop Protection, Research Wheat Seeds |
| Fertiliser | Manufacture and distribution of urea and other fertilizers for agriculture. | Strong manufacturing base with captive gas supply arrangements. | B2B and B2C serving farmers primarily in northern and central India. | Urea manufacturing with efficient plant operations. | 1458 | 12 | Sale of fertilizers governed by government pricing and subsidy structures. | Regulated pricing with subsidies and retention price mechanisms. | Stable demand for fertilizers; government policy impacts and subsidy flows. | Shriram Urea, Single Super Phosphate |
| Bioseed | Production and sale of hybrid seeds for cotton, corn, rice, vegetables. | R&D driven portfolio with international subsidiaries supporting innovation. | B2B and B2C segments including farmers and agri-retailers mainly in India and Southeast Asia. | High-performance hybrid corn seeds and vegetable seeds. | 636 | 5 | Sales through distributors and retail channels targeting seed farmers. | Seasonal and volume-based pricing driven by crop cycles. | Product innovation, expansion in corn and paddy seeds, improved margins. | Shriram Bioseed |
