| Revenue growth | Volumes up 3% YoY; revenue impacted by East price corrections. |
|---|---|
| Margins | EBITDA/ton contracted significantly to ₹698 from ₹746 (Ex-Central). |
| Demand visibility | Robust outlook led by government capex and lower rainfall in West/South. |
| Management confidence | Balanced; optimistic on H2 recovery but defensive on short-term East pricing. |
Growth
Volume grew 3% YoY to 7.1 MT; South and West saw double-digit growth, offsetting East's flood-led decline.
Outlook
Targeting 67 MTPA capacity by FY28; JP assets expected to hit 35-40% utilization by end of FY27.
Risks
Persistent fuel cost inflation (₹75-80/ton impact expected in Q3) and high debt-to-EBITDA (2x) following JP asset acquisition.
Last quarter's promises, checked
Partly delivered
- 67 MT by Q3 FY28 → 67 MTPA by FY28, reaffirmed, not yet due (= PARTIAL)
- Q2 cost uptick ₹70–75/t → ₹75–80/t flagged for Q3, no Q2 actual (= PARTIAL)
- FY27 capex ₹3,200–3,400 Cr → ₹3,200–3,500 Cr (= PARTIAL)
Missed
- Net debt/EBITDA 'comfortably below 2x' (1.47x) → 2.0x (= MISS)
- Volume 'in line with' 7–8% industry growth → +3% YoY (= MISS)
- EBITDA/t ₹1,055 with 'profitable growth' → ₹698 (basis differs, ex-Central ₹746) (= MISS)
Earnings Call Transcript filed with NSE, NSE: DALBHARAT. Summary written with AI assistance from the document.
Dalmia Bharat Ltd: key numbers
- Share price
- ₹1,474.40
- Market cap
- ₹27,655 Cr
- Revenue (annual)
- ₹14,804 Cr
- Net profit (annual)
- ₹1,139 Cr
- P/E (TTM)
- 56.4×Sector 31.3×
- Promoter holding
- 55.84%+0.00% QoQ
- FII holding
- 7.41%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Key figure
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