Dalmia Bharat

PAT up 178.7% YoY to Rs 393 crore in Q1FY2026

On consolidated basis

Quarter ended June 2025 compared with Quarter ended June 2024.

Net sales (including other operating income) of Dalmia Bharat has increased 0.41% to Rs 3636 crore.  

Operating profit margin has jumped from 18.48% to 24.28%, leading to 31.99% rise in operating profit to Rs 883.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.64% to 15.20%.   Employee cost decreased from 6.16% to 6.07%.   Other expenses fell from 57.25% to 55.10%.   Power and Oil fuel cost fell from 20.45% to 19.40%.   Freight charges fell from 22.43% to 21.27%.   

Other income fell 2% to Rs 49 crore.  PBIDT rose 29.62% to Rs 932 crore.  Provision for interest rose 13.68% to Rs 108 crore.  

PBDT rose 32.05% to Rs 824 crore.  Provision for depreciation rose 1.58% to Rs 322 crore.  

Profit before tax grew 63.52% to Rs 502.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 123 crore, compared to Rs 49 crore.  Effective tax rate was 23.75% compared to 25.26%.

Minority interest decreased 50% to Rs 2.00 crore.  Net profit attributable to owners of the company increased 178.72% to Rs 393.00 crore.  

Promoters? stake was 55.84% as of 30 June 2025 ,compared to 55.84% as of 30 June 2024 .  

Full year results analysis.

Net sales (including other operating income) of Dalmia Bharat has declined 4.84% to Rs 13980 crore.  

Operating profit margin has declined from 17.96% to 17.22%, leading to 8.79% decline in operating profit to Rs 2,407.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 14.45% to 16.01%.   Purchase of finished goods cost fell from 3.86% to 0.76%.   Employee cost increased from 5.94% to 6.32%.   Other expenses rose from 57.77% to 59.72%.   Power and Oil fuel cost fell from 21.23% to 20.74%.   Freight charges rose from 21.83% to 23.47%.   

Other income fell 19.68% to Rs 253 crore.  PBIDT fell 9.95% to Rs 2660 crore.  Provision for interest rose 3.37% to Rs 399 crore.  Loan funds rose to Rs 5,702.00 crore as of 31 March 2025 from Rs 4,805.00 crore as of 31 March 2024.  Inventories rose to Rs 1,386.00 crore as of 31 March 2025 from Rs 1,218.00 crore as of 31 March 2024.  Sundry debtors were higher at Rs 889.00 crore as of 31 March 2025 compared to Rs 836.00 crore as of 31 March 2024.  Cash and bank balance declined from Rs 582.00 crore as of 31 March 2024 to Rs 158.00 crore as of 31 March 2025.  Investments rose to Rs 5,119.00 crore as of 31 March 2025 from Rs 4,462.00 crore as of 31 March 2024 .  

PBDT fell 11.95% to Rs 2261 crore.  Provision for depreciation fell 11.15% to Rs 1331 crore.  Fixed assets declined from Rs 17,600.00 crore as of 31 March 2024 to Rs 17,252.00 crore as of 31 March 2025.  Intangible assets increased from Rs 527.00 crore to Rs 2,670.00 crore.  

Profit before tax down 13.08% to Rs 930.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 118 crore, compared to Rs 216 crore.  Effective tax rate was 14.44% compared to 20.19%.

Minority interest decreased 40.74% to Rs 16.00 crore.  Net profit attributable to owners of the company decreased 17.41% to Rs 683.00 crore.  

Equity capital stood at Rs 38.00 crore as of 31 March 2025 to Rs 38.00 crore as of 31 March 2024.  Per share face Value remained same at Rs 2.00.  

Promoters? stake was 55.84% as of 31 March 2025 ,compared to 55.84% as of 31 March 2024 .  

Cash flow from operating activities decreased to Rs 2,117.00 crore for year ended March 2025 from Rs 2,635.00 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 2,664.00 crore, compared to Rs 2,827.00 crore during the year ended March 2024.  

 

Operational highlights:

For Q1FY2026

Sales Volume stood at 7.0 MT during the quarter

NSR/T Increased by 6.6% YoY to Rs 5,193/Ton

EBITDA/T increased by 40% YoY to Rs 1,261/Ton

Key Updates:

Announced strategic investment of Rs 3,287 Cr to establish a 3.6 MnTPA clinker unit with a 6 MnTPA grinding unit at existing Kadapa plant, Andhra Pradesh (3 MnTPA Bulk Terminal in Chennai, Tamil Nadu).

In line with the commitment to exit non-core assets of the company, Dalmia Cement Bharat Ltd, a Wholly Owned Subsidiary, divested 4.1% holding in Indian Energy Exchange (IEX) during Q1 FY26. Consequently, Dalmia Bharat?s holding in IEX , including its subsidiaries, stands at 10.8% as on 30th June 2025.

Commissioned 26 MW of Renewable Capacity under the Group Captive agreements, increasing our total operational RE capacity to 294 MW.

Management Commentary:

Commenting on the performance Mr. Puneet Dalmia, Managing Director & CEO ? Dalmia Bharat, said, ?In the backdrop of strong economic fundamentals, robust government-led capex and increasing cement industry consolidation, we remain committed to becoming a Pan-India player. In the current year 2025, we have announced fresh capital investments of about Rs 6,800 Cr for adding 12 MnTPA of cement capacity across the South and West regions. Our balance sheet remains strong to support this growth as we further prepare for next leg of expansion in the new regions.?

He further added, ?Beginning of this year marks a recovery in cement realizations in our key markets, which has helped us deliver robust EBITDA growth, resulting in an EBITDA margin of 24.3%, which is an increase of 5.8% percentage points compared to last year.?

Mr. Dhrmendra Tuteja, CFO ? Dalmia Bharat said, ?During the quarter, our revenues marginally improved by 0.4% YoY. However, EBITDA improved significantly to Rs 883 Cr, indicating a 32% YoY growth. Backed by a robust balance sheet, a disciplined capital allocation framework and healthy profitability outlook, we are steadily progressing towards our vision of becoming a PAN-India player.?

Dalmia Bharat : Consolidated Results

Quarter ended Year ended Particulars 202506 202406 Var.(%) 202503 202403 Var.(%) Net Sales (including other operating income) 3,636.00 3,621.00 0.41 13,980.00 14,691.00 -4.84 OPM (%) 24.28 18.48 581 bps 17.22 17.96 -75 bps OP 883.00 669.00 31.99 2,407.00 2,639.00 -8.79 Other Inc. 49.00 50.00 -2.00 253.00 315.00 -19.68 PBIDT 932.00 719.00 29.62 2,660.00 2,954.00 -9.95 Interest 108.00 95.00 13.68 399.00 386.00 3.37 PBDT 824.00 624.00 32.05 2,261.00 2,568.00 -11.95 Depreciation 322 317 1.58 1331 1498 -11.15 PBT 502.00 307.00 63.52 930 1070 -13.08 Share of Profit/(Loss) from Associates 0 0 - 0 0 - PBT before EO 502 307 63.52 930 1070 -13.08 EO Income 16 -113 LP -113 0 - PBT after EO 518 194 167.01 817 1070 -23.64 Taxation 123 49 151.02 118 216 -45.37 PAT 395 145 172.41 699 854 -18.15 Minority Interest (MI) 2 4 -50.00 16 27 -40.74 Net profit 393 141 178.72 683 827 -17.41 P/(L) from discontinued operations net of tax 0 0 - 0 -1 - Net profit after discontinued operations 393 141 178.72 683 826 -17.31 EPS (Rs)* 20.31 11.90 70.69 41.45 44.09 -5.99 * EPS is on current equity of Rs 37.51 crore, Face value of Rs 2, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

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