Dalmia Bharat Limited has informed the Exchange about General Updates. Please find enclosed herewith Earnings Release Q1 FY26, which is proposed to be shared with Analysts / Investors.
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Dalmia Bharat reported its highest-ever quarterly EBITDA of Rs 883 Cr in Q1 FY26, up about 32% YoY, with EBITDA per ton rising 40% to Rs 1,261 and EBITDA margin expanding sharply to 24.3% from 18.5% a year ago. Sales volume fell 5.8% YoY to 7.0 MnT (mainly because Jaypee tolling volumes were discontinued from July 2024), but revenue was largely flat at Rs 3,636 Cr as realisations rose 6.6% to Rs 5,193/T. Power & fuel cost declined 2.2% YoY to Rs 981/T and cost of borrowing eased to 7.5% from 8.3%, while raw material cost rose on a new Rs 160/T limestone tax imposed by Tamil Nadu. The company announced a Rs 3,287 Cr capex for a new 3.6 MnTPA clinker and 6 MnTPA grinding unit at Kadapa, Andhra Pradesh, plus a 3 MnTPA bulk terminal at Chennai, targeted for Q2 FY28, and reiterated its path to 75 MnTPA capacity by FY28. Net Debt/EBITDA stood comfortable at 0.33x, supported by a Rs 742 Cr divestment of a 4.1% stake in IEX as part of its non-core asset exit.
Strong margin expansion and record EBITDA reinforce the operational quality story, even as volumes dipped and a new state-level limestone tax emerges as a near-term watchpoint. A healthy balance sheet, lower cost of debt, and a clearly outlined capacity roadmap to 75 MnTPA by FY28 should support a constructive long-term outlook for shareholders.