Q2 FY27 call flags cost pressure and expects a stronger Q3

Management guided margin improvementManagement guided margin pressureCFO laid out a debt-reduction roadmapInvestor Communications View source PDF Explain this filing

DALBHARAT · price

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Price reactionminutes from the announcement price · days from the prior close

-2.6%Reaction day

₹1518.00

prior close

₹1474.90

announcement price

In-mkt

timing

Nifty Midcap 150market+0.3%-2.9% vs market

Cement & Cement Products peers, median of 35sector-0.7%-1.8% vs sector

On the reaction day the stock moved 2.9 pts less than Nifty Midcap 150 and 1.8 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-2.6+0.3-2.9-0.7-1.8

Next day

-7.3+1.2-8.4-0.2-7.1

-12.0+0.2-12.3-1.5-10.6

-9.1+1.5-10.6+0.1-9.2

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-7.4+4.1-11.6+3.5-11.0

-3.2pendingpending+4.6-7.8

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UpDownMarket · Nifty Midcap 150Sector · Cement & Cement Products peers, median of 35Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Q2 FY27 sales were 7.1 million tonnes, up 3%. Ex-Central, realisation fell INR49 per tonne and costs rose INR259 per tonne, cutting EBITDA per tonne to INR746; reported EBITDA was INR698. Management expects an additional INR75-80 per tonne cost hit and INR100-125 dilution from Central assets in Q3, but price gains and stronger demand could lift EBITDA above INR1,000. FY27 capex remains INR3,200-3,400 crore; leverage target stays below 2x.

Likely market impact

Q3 margins may improve if prices hold, but fuel inflation and the Central India ramp-up could keep near-term earnings and leverage under pressure.