Dalmia Bharat Ltd.

NSE: DALBHARAT · Cement & Cement Products

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52W Range₹1,319 – ₹2,260

Snapshot

Unlock Dalmia Bharat Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Dalmia Bharat Limited is a prominent Indian manufacturer of clinker and various cement products, including Portland slag and specialty cements. The company operates across multiple sectors, including refractory products, sugar, power generation, and management consultancy services.

Business Model

The company generates revenue primarily through the production and sale of cement under established brands like Dalmia Cement, Konark Cement, and Dalmia DSP. It serves both individual retail consumers and institutional clients while diversifying income streams through its refractory, sugar, and power divisions.

  • Founded:1939

Growth Outlook

Growth is driven by the sustained demand for infrastructure development and housing in India, supported by the company's focus on expanding its cement production capacity and brand presence. The company continues to leverage its diversified portfolio to capture opportunities in the industrial and energy sectors.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of raw materials, power, and fuel can significantly impact the company's operating margins.
  • Cyclicality of Construction Sector. The demand for cement is highly sensitive to the cyclical nature of the Indian real estate and infrastructure development sectors.
  • Regulatory and Environmental Compliance. Stringent environmental regulations regarding carbon emissions and mining activities pose ongoing operational and compliance challenges.
  • Intense Market Competition. The Indian cement industry is highly competitive, which may exert pressure on pricing power and market share.

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Key Metrics

REVENUE

₹15,204 Cr

TTM · consolidated

+6.1%YoY

NET PROFIT

₹509 Cr

TTM · consolidated

-55.3%YoY

EPS

₹26.18

TTM · consolidated

-56.4%YoY

RETURN ON EQUITY

2.9%

TTM · consolidated

-3.5 ppYoY

RETURN ON CAPITAL EMPLOYED

3.9%

TTM · consolidated

-3.0 ppYoY

P/E

52.7×

Q2 FY27 · consolidated

52.7 vs 109.2x5Y avg

EV/EBITDA

11.1x

Q2 FY27 · consolidated

11.1 vs 72.1x5Y avg

EBITDA MARGIN

20.3%

TTM · consolidated

-1.5 ppYoY

NET PROFIT MARGIN

-5.8%

Q2 FY27 · consolidated

-12.8 ppYoY

DEBT TO EQUITY

0.5x

Q2 FY27 · consolidated

+0.16xYoY

Peers · Cement & Cement Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Dalmia Bharat Ltd.DALBHARAT
₹24,875 Cr52.7×11.116.1%20.3%2.9%3.9%-34.2%
J.K. Cement Ltd.JKCEMENT
₹36,977 Cr40.0×17.0915.9%17.4%14.3%13.4%-21.2%
ACC Ltd.ACC
₹21,220 Cr24.5×8.534.6%9.8%4.3%5.8%-38.8%
The Ramco Cements Ltd.RAMCOCEM
₹17,005 Cr27.0×14.908.6%15.0%8.3%9.9%-29.4%
Jsw Cement Ltd.JSWCEMENT
₹15,747 Cr21.2×14.07—19.4%11.3%9.6%-12.1%
Nuvoco Vistas Corporation Ltd.NUVOCO
₹11,443 Cr31.3×8.289.5%16.6%4.0%7.0%-18.3%

As of Q2 FY27

Financials