Dalmia Bharat Sugar and Industries Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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Dalmia Bharat Sugar reported Q2 FY26 revenue from operations of Rs. 988.72 crores, up about 7.4% from Rs. 920.31 crores in Q2 FY25, with H1 FY26 revenue at Rs. 1,929.60 crores versus Rs. 1,871.74 crores in H1 FY25. However, net profit after tax fell sharply to Rs. 23.32 crores in Q2 FY26 from Rs. 53.37 crores a year earlier, a drop of around 56%, while H1 FY26 PAT declined to Rs. 62.58 crores from Rs. 107.42 crores. Earnings per share for the quarter stood at Rs. 2.88 against Rs. 6.59 last year, reflecting significant margin compression despite higher sales. The sugar segment result halved to Rs. 19.32 crores while the distillery segment result rose to Rs. 21.18 crores from Rs. 11.98 crores, showing mixed segment performance. The board also noted the NCLT-sanctioned demerger of the company's refractory and travel units into Dalmia Bharat Refractories Limited, with the appointed date of July 1, 2023, leading to restated comparative figures.
Despite healthy top-line growth, sharply lower profits and shrinking margins are negative for near-term shareholder sentiment and may weigh on the stock. The demerger sharpens the company's focus on sugar and distillery, which is structurally positive over the long term, but Q2 earnings weakness is the dominant signal for investors right now.