Dalmia Bharat Ltd.
DALBHARATCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
20 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 20 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| COVER_LETTER | 20200804 | 2020-06-30 | no | |
| TRANSCRIPT | 20220513 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220809 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221108 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230213 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230331 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230502 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230727 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231020 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240130 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240501 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240724 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241022 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250124 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250426 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250725 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251022 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260123 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260501 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260728 | 2026-06-30 | yes |
DALBHARAT
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,721.20 |
| 52-week range | 1610.2 – 2320.8 |
| Return 1M | -5.64% |
| Return 3M | 0.05% |
| Return 1Y | -25.84% |
| Return 3Y | -26.37% |
| Return 5Y | -17.63% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 3,890.00 |
| Other income | 139.00 |
| Total income | 4,029.00 |
| Cost of materials consumed | 644.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | -148.00 |
| Employee benefit expense | 245.00 |
| Finance costs | 147.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.56 | 0.00 |
| institutions foreign | 0.07 | -0.00 |
| institutions domestic | 0.20 | -0.00 |
| mutual funds | 0.17 | -0.00 |
| public | 0.44 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2020-06-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 19 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,971.00 | 3,355.00 | 3,912.00 | 3,624.00 | 3,149.00 | 3,600.00 | 4,307.00 | 3,621.00 | 3,087.00 | 3,181.00 | 4,091.00 | 3,636.00 | 3,417.00 | 3,506.00 | 4,245.00 | 3,890.00 |
| Other income | 38.00 | 35.00 | 41.00 | 57.00 | 85.00 | 64.00 | 120.00 | 50.00 | 73.00 | 37.00 | 93.00 | 49.00 | 66.00 | 62.00 | 45.00 | 139.00 |
| Total income | 3,009.00 | 3,390.00 | 3,953.00 | 3,681.00 | 3,234.00 | 3,664.00 | 4,427.00 | 3,671.00 | 3,160.00 | 3,218.00 | 4,184.00 | 3,685.00 | 3,483.00 | 3,568.00 | 4,290.00 | 4,029.00 |
| Cost of materials consumed | 442.00 | 493.00 | 532.00 | 538.00 | 455.00 | 500.00 | 627.00 | 579.00 | 528.00 | 510.00 | 624.00 | 568.00 | 547.00 | 574.00 | 635.00 | 644.00 |
| Purchases of stock-in-trade | 3.00 | 1.00 | 46.00 | 96.00 | 117.00 | 140.00 | 214.00 | 106.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -4.00 | -124.00 | 172.00 | -68.00 | -39.00 | -14.00 | 137.00 | -80.00 | -83.00 | 2.00 | 142.00 | -101.00 | -42.00 | 10.00 | 147.00 | -148.00 |
| Employee benefit expense | 189.00 | 193.00 | 191.00 | 222.00 | 226.00 | 221.00 | 202.00 | 228.00 | 219.00 | 223.00 | 215.00 | 227.00 | 226.00 | 224.00 | 217.00 | 245.00 |
| Finance costs | 54.00 | 69.00 | 64.00 | 83.00 | 101.00 | 108.00 | 94.00 | 95.00 | 98.00 | 101.00 | 105.00 | 108.00 | 122.00 | 118.00 | 132.00 | 147.00 |
| Depreciation and amortisation | 332.00 | 325.00 | 336.00 | 399.00 | 401.00 | 370.00 | 328.00 | 317.00 | 336.00 | 364.00 | 314.00 | 322.00 | 322.00 | 340.00 | 365.00 | 361.00 |
| Other expenses | 1,964.00 | 2,147.00 | 2,264.00 | 2,226.00 | 1,801.00 | 1,978.00 | 2,473.00 | 2,119.00 | 1,989.00 | 1,935.00 | 2,317.00 | 2,059.00 | 1,990.00 | 2,096.00 | 2,344.00 | 2,344.00 |
| Total expenses | 2,980.00 | 3,104.00 | 3,605.00 | 3,496.00 | 3,062.00 | 3,303.00 | 4,075.00 | 3,364.00 | 3,087.00 | 3,135.00 | 3,717.00 | 3,183.00 | 3,165.00 | 3,362.00 | 3,840.00 | 3,593.00 |
| Profit before exceptional items and tax | 29.00 | 286.00 | 348.00 | 185.00 | 172.00 | 361.00 | 352.00 | 307.00 | 73.00 | 83.00 | 467.00 | 502.00 | 318.00 | 206.00 | 450.00 | 436.00 |
| Exceptional items | 0.00 | 0.00 | -144.00 | 0.00 | 0.00 | 0.00 | 0.00 | -113.00 | 0.00 | 0.00 | 0.00 | 16.00 | 0.00 | -32.00 | -10.00 | -182.00 |
| Profit before tax | 29.00 | 286.00 | 204.00 | 185.00 | 172.00 | 361.00 | 352.00 | 194.00 | 73.00 | 83.00 | 467.00 | 518.00 | 318.00 | 174.00 | 440.00 | 254.00 |
| Current tax | 13.00 | 18.00 | -20.00 | 71.00 | 31.00 | 14.00 | -43.00 | 20.00 | 9.00 | 31.00 | -53.00 | 7.00 | 8.00 | -5.00 | -47.00 | 14.00 |
| Deferred tax | -34.00 | 56.00 | 145.00 | -30.00 | 17.00 | 81.00 | 75.00 | 29.00 | 15.00 | -14.00 | 81.00 | 116.00 | 71.00 | 51.00 | 92.00 | 48.00 |
| Tax expense | -21.00 | 74.00 | 125.00 | 41.00 | 48.00 | 95.00 | 32.00 | 49.00 | 24.00 | 17.00 | 28.00 | 123.00 | 79.00 | 46.00 | 45.00 | 62.00 |
| Profit for the period | 47.00 | 218.00 | 609.00 | 144.00 | 123.00 | 266.00 | 320.00 | 145.00 | 49.00 | 66.00 | 439.00 | 395.00 | 239.00 | 128.00 | 394.00 | 192.00 |
| Profit attributable to owners | 46.00 | 204.00 | 589.00 | 130.00 | 118.00 | 263.00 | 315.00 | 141.00 | 46.00 | 61.00 | 435.00 | 393.00 | -288.00 | 122.00 | 387.00 | 188.00 |
| Profit attributable to non-controlling interests | 1.00 | 14.00 | 20.00 | 14.00 | 5.00 | 3.00 | 5.00 | 4.00 | 3.00 | 5.00 | 4.00 | 2.00 | 3.00 | 6.00 | 7.00 | 4.00 |
| Other comprehensive income | -186.00 | 69.00 | -194.00 | 31.00 | 159.00 | 385.00 | -503.00 | 645.00 | 382.00 | -483.00 | -80.00 | 288.00 | -524.00 | -106.00 | -29.00 | -5.00 |
| Total comprehensive income | -139.00 | 287.00 | 415.00 | 175.00 | 282.00 | 651.00 | -183.00 | 790.00 | 431.00 | -417.00 | 359.00 | 683.00 | -285.00 | 22.00 | 365.00 | 187.00 |
| Earnings per share, basic | 2.47 | 10.88 | 31.42 | 6.93 | 6.30 | 14.02 | 16.80 | 7.52 | 2.45 | 3.25 | 23.20 | 20.95 | 12.59 | 6.50 | 20.69 | 10.02 |
| Earnings per share, diluted | 2.47 | 10.87 | 31.41 | 6.93 | 6.29 | 14.02 | 16.79 | 7.52 | 2.45 | 3.25 | 23.20 | 20.95 | 12.59 | 6.50 | 20.69 | 10.02 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 9,484.00 | 9,674.00 | 10,522.00 | 11,286.00 | 13,540.00 | 14,691.00 | 13,980.00 | 14,804.00 |
| Other income | 244.00 | 217.00 | 182.00 | 155.00 | 138.00 | 315.00 | 253.00 | 222.00 |
| Total income | 9,728.00 | 9,891.00 | 10,704.00 | 11,441.00 | 13,678.00 | 15,006.00 | 14,233.00 | 15,026.00 |
| Cost of materials consumed | 1,794.00 | 1,654.00 | 1,671.00 | 1,580.00 | 1,906.00 | 2,120.00 | 2,241.00 | 2,324.00 |
| Purchases of stock-in-trade | 138.00 | 67.00 | 41.00 | 14.00 | 52.00 | 567.00 | 106.00 | 0.00 |
| Changes in inventories | -147.00 | 25.00 | 68.00 | -122.00 | 23.00 | 16.00 | -19.00 | 14.00 |
| Employee benefit expense | 648.00 | 675.00 | 713.00 | 744.00 | 771.00 | 871.00 | 885.00 | 894.00 |
| Finance costs | 504.00 | 415.00 | 303.00 | 202.00 | 234.00 | 386.00 | 399.00 | 480.00 |
| Depreciation and amortisation | 1,296.00 | 1,528.00 | 1,262.00 | 1,236.00 | 1,305.00 | 1,498.00 | 1,331.00 | 1,349.00 |
| Other expenses | 5,156.00 | 5,170.00 | 5,238.00 | 6,639.00 | 8,472.00 | 8,478.00 | 8,360.00 | 8,489.00 |
| Total expenses | 9,389.00 | 9,534.00 | 9,296.00 | 10,293.00 | 12,763.00 | 13,936.00 | 13,303.00 | 13,550.00 |
| Profit before exceptional items and tax | 339.00 | 357.00 | 1,408.00 | 1,148.00 | 915.00 | 1,070.00 | 930.00 | 1,476.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | -2.00 | -144.00 | 0.00 | -113.00 | -26.00 |
| Profit before tax | 339.00 | 357.00 | 1,408.00 | 1,146.00 | 771.00 | 1,070.00 | 817.00 | 1,450.00 |
| Current tax | 107.00 | 122.00 | -55.00 | 190.00 | 26.00 | 73.00 | 7.00 | -38.00 |
| Deferred tax | -117.00 | -3.00 | 220.00 | -204.00 | 216.00 | 143.00 | 111.00 | 330.00 |
| Tax expense | -10.00 | 119.00 | 165.00 | -14.00 | 242.00 | 216.00 | 118.00 | 292.00 |
| Profit for the period | 349.00 | 238.00 | 1,243.00 | 1,173.00 | 1,079.00 | 853.00 | 699.00 | 1,157.00 |
| Profit attributable to owners | 308.00 | 224.00 | 1,231.00 | 1,144.00 | 1,035.00 | 826.00 | 683.00 | 1,139.00 |
| Profit attributable to non-controlling interests | 42.00 | 14.00 | 12.00 | 29.00 | 44.00 | 27.00 | 16.00 | 18.00 |
| Other comprehensive income | 27.00 | -211.00 | 1,095.00 | 1,815.00 | -1,313.00 | 72.00 | 463.00 | -371.00 |
| Total comprehensive income | 376.00 | 27.00 | 2,338.00 | 2,988.00 | -234.00 | 925.00 | 1,162.00 | 786.00 |
| Earnings per share, basic | 15.97 | 11.61 | 65.65 | 61.18 | 55.22 | 44.05 | 36.42 | 60.73 |
| Earnings per share, diluted | 15.91 | 11.58 | 65.55 | 61.11 | 55.19 | 44.03 | 36.42 | 60.73 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 23,544.00 | 25,543.00 | 27,264.00 | 27,749.00 | 29,038.00 | 30,226.00 | 31,513.00 | 33,312.00 |
| Non-current assets | 17,625.00 | 18,193.00 | 19,308.00 | 19,893.00 | 21,116.00 | 21,897.00 | 23,014.00 | 24,535.00 |
| Current assets | 5,772.00 | 6,460.00 | 7,924.00 | 7,830.00 | 7,900.00 | 8,314.00 | 8,486.00 | 8,763.00 |
| Property, plant and equipment | 10,941.00 | 11,610.00 | 12,262.00 | 12,893.00 | 13,291.00 | 14,714.00 | 14,650.00 | 16,872.00 |
| Capital work-in-progress | 1,487.00 | 1,859.00 | 1,852.00 | 2,284.00 | 2,887.00 | 2,497.00 | 3,488.00 | 2,593.00 |
| Goodwill | 831.00 | 730.00 | 628.00 | 527.00 | 425.00 | 374.00 | 374.00 | 374.00 |
| Other intangible assets | 2,504.00 | 2,443.00 | 2,377.00 | 2,311.00 | 2,242.00 | 2,177.00 | 2,116.00 | 2,084.00 |
| Inventories | 1,239.00 | 1,316.00 | 1,270.00 | 1,218.00 | 1,522.00 | 1,386.00 | 1,357.00 | 1,192.00 |
| Trade receivables | 694.00 | 700.00 | 756.00 | 836.00 | 802.00 | 889.00 | 900.00 | 864.00 |
| Cash and cash equivalents | 88.00 | 234.00 | 337.00 | 341.00 | 95.00 | 149.00 | 70.00 | 212.00 |
| Total equity and liabilities | 23,544.00 | 25,543.00 | 27,264.00 | 27,749.00 | 29,038.00 | 30,226.00 | 31,513.00 | 33,312.00 |
| Equity | 15,115.00 | 15,744.00 | 16,113.00 | 16,507.00 | 17,636.00 | 17,500.00 | 17,810.00 | 18,123.00 |
| Equity share capital | 37.00 | 37.00 | 38.00 | 38.00 | 38.00 | 38.00 | 38.00 | 38.00 |
| Other equity | 14,995.00 | 15,591.00 | 15,973.00 | 16,359.00 | 17,480.00 | 17,336.00 | 17,641.00 | 17,941.00 |
| Total liabilities | 8,429.00 | 9,799.00 | 11,151.00 | 11,242.00 | 11,402.00 | 12,726.00 | 13,703.00 | 15,189.00 |
| Non-current liabilities | 4,115.00 | 5,339.00 | 6,597.00 | 6,768.00 | 6,966.00 | 7,503.00 | 8,675.00 | 9,515.00 |
| Current liabilities | 4,314.00 | 4,460.00 | 4,554.00 | 4,474.00 | 4,436.00 | 5,223.00 | 5,028.00 | 5,674.00 |
| Borrowings, non-current | 2,220.00 | 3,210.00 | 4,472.00 | 4,431.00 | 4,348.00 | 4,605.00 | 5,665.00 | 6,168.00 |
| Borrowings, current | 1,046.00 | 532.00 | 801.00 | 199.00 | 415.00 | 653.00 | 956.00 | 584.00 |
| Trade payables | 889.00 | 1,135.00 | 1,009.00 | 1,316.00 | 1,272.00 | 1,539.00 | 1,217.00 | 1,294.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 412.00 | 2,252.00 | 681.00 | 2,635.00 | 210.00 | 2,117.00 | 735.00 | 2,278.00 |
| Net cash from investing activities | -378.00 | -2,326.00 | -1,786.00 | -2,750.00 | -293.00 | -2,270.00 | -1,830.00 | -3,023.00 |
| Net cash from financing activities | -86.00 | 168.00 | 1,208.00 | 222.00 | -163.00 | -39.00 | 1,016.00 | 808.00 |
| Purchase of property, plant and equipment | 1,165.00 | 2,709.00 | 1,605.00 | 2,827.00 | 1,386.00 | 2,664.00 | 1,189.00 | 2,056.00 |
| Net increase in cash | -52.00 | 94.00 | 103.00 | 107.00 | -246.00 | -192.00 | -79.00 | 63.00 |
| con:CFO.BEFORE_TAX | 389.00 | 2,266.00 | 710.00 | 2,689.00 | 228.00 | 2,188.00 | 751.00 | 2,377.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | -23.00 | 14.00 | 29.00 | 54.00 | 18.00 | 71.00 | 16.00 | 99.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 286.00 | 570.00 | 42.00 | 54.00 | 682.00 | 1,036.00 |
| con:INVESTMENTS_SOLD | 778.00 | 331.00 | 160.00 | 440.00 | 830.00 | 77.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 1.00 | 8.00 | 85.00 | 104.00 | 8.00 | 38.00 | 4.00 | 15.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 160.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 55.86 | 55.86 | 55.85 | 55.84 | 55.84 | 55.84 | 55.84 | 55.84 | 55.84 | 55.84 | 0.56 | 0.56 | 0.56 | 0.56 |
| Domestic institutions | 8.55 | 8.83 | 9.43 | 11.03 | 12.63 | 13.61 | 14.58 | 14.70 | 16.43 | 17.37 | 0.18 | 0.19 | 0.20 | 0.20 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 10.66 | 0.13 | 0.15 | 0.17 | 0.17 |
| Insurance companies | 1.44 | 1.54 | 2.21 | 2.43 | 3.54 | 5.80 | 6.64 | 6.08 | 5.93 | 5.97 | 0.04 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 12.87 | 13.90 | 14.13 | 12.96 | 11.37 | 9.43 | 8.94 | 9.08 | 8.28 | 8.24 | 0.09 | 0.08 | 0.07 | 0.07 |
| Government | — | — | — | — | — | — | — | — | — | 0.14 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 44.14 | 44.14 | 44.15 | 44.16 | 44.16 | 44.16 | 44.16 | 44.16 | 44.16 | 44.16 | 0.44 | 0.44 | 0.44 | 0.44 |
| Non-institutional | 22.58 | 21.27 | 20.45 | 20.02 | 20.02 | 20.98 | 20.50 | 20.24 | 19.31 | 18.42 | 0.17 | 0.17 | 0.17 | 0.17 |
| Shares outstanding | 187480361 | 187480361 | 187530361 | 187547629 | 187547629 | 187547629 | 187547629 | 187565161 | 187565161 | 187565161 | 187565161 | 187565953 | 187565953 | 187565953 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Sarvapriya Healthcare Solutions Private Limited | KMP/ directors controlled | Any other transaction, Interest received | 3,322,200,000.00 | 2 |
| Mayuka Investment limited | KMP/ directors controlled | Dividend paid | 194,700,000.00 | 1 |
| Dalmia Bharat Sugar and Industries Limited | KMP/ directors controlled | Any other transaction, Dividend paid, Dividend recei | 158,900,000.00 | 12 |
| Mr. Puneet Yadu Dalmia | KMP | Remuneration | 117,500,000.00 | 1 |
| Mr. Gautam Dalmia | KMP | Any other transaction, Dividend paid, Remuneration | 107,000,000.00 | 3 |
| Solarcraft Power India 23 Private Limited | Associate | Any other transaction | 84,400,000.00 | 1 |
| Dalmia Cement Provident Fund | Trust relating to retiral benefit | Any other transaction | 83,300,000.00 | 2 |
| Shree Nirman Limited | KMP/ directors controlled | Dividend paid | 77,600,000.00 | 1 |
| Sita Investment Company Limited | KMP/ directors controlled | Dividend paid | 69,400,000.00 | 1 |
| Mr. Yadu Hari Dalmia | Non- Executive Director | Any other transaction, Remuneration | 68,100,000.00 | 2 |
| Ankita Pratisthan Limited | KMP/ directors controlled | Dividend paid | 64,400,000.00 | 1 |
| Dalmia Bharat Foundation | KMP/ directors controlled | Any other transaction | 56,000,000.00 | 5 |
| Rama Investment Company Private Limited | KMP/ directors controlled | Dividend paid | 45,300,000.00 | 1 |
| Mr. Dharmender Tuteja | KMP | Remuneration | 20,900,000.00 | 1 |
| O2 Renewable Energy V Private Limited | Associate | Purchase of goods or services | 16,800,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-28 | Q1FY27 | Read the call | |
| 2026-05-01 | Q4FY26 | '<! Dalmia, LIMITED | Read the call |
| 2026-01-23 | Q3FY26 | CHOR, Dalmia, LLff | Read the call |
| 2025-10-22 | Q2FY26 | Read the call | |
| 2025-07-25 | Q1FY26 | Read the call | |
| 2025-04-26 | Q4FY25 | Read the call | |
| 2025-01-24 | Q3FY25 | Read the call | |
| 2024-10-22 | Q2FY25 | DALMIA BHARAT LIMITED, LIMITED | Read the call |
| 2024-07-24 | Q1FY25 | DALMIA BHARAT LIMITED, LIMITED | Read the call |
| 2024-05-01 | Q4FY24 | Read the call | |
| 2024-01-30 | Q3FY24 | LIMITED, – DALMIA BHARAT LIMITED | Read the call |
| 2023-10-20 | Q2FY24 | DALMIA BHARAT LIMITED, LIMITED | Read the call |
| 2023-07-27 | Q1FY24 | DALMIA BHARAT LIMITED | Read the call |
| 2023-05-02 | FYFY23 | CEMENT (BHARAT) LIMITED, LIMITED, TRANSFORMATION OFFICER, DALMIA BHARAT | Read the call |
| 2023-03-31 | Q3FY23 | DALMIA BHARAT LIMITED, LIMITED | Read the call |
| 2023-02-13 | Q3FY23 | LIMITED, TRANSFORMATION OFFICER, DALMIA BHARAT | Read the call |
| 2022-11-08 | Q2FY23 | BHARAT LIMITED, TRANSFORMATION OFFICER | Read the call |
| 2022-08-09 | Q1FY23 | LIMITED, TRANSFORMATION OFFICER, DALMIA BHARAT | Read the call |
| 2022-05-13 | Q4FY22 | CEMENT BHARAT LIMITED, LIMITED, TRANSFORMATION OFFICER | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q3FY23 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | The budget once again reiterates the government’s focus on building physical infrastructure through a massive 33% increase in allocation towards CAPEX… | The government's continuous thrust on infrastructure has led to the turnaround in the real estate sector and the private capex has started to kick in. | And the last question is on Northeast, how much capex would have been spent by now? | During Quarter 3, FY26, we have incurred a CAPEX of about Rs. | Second question, on the CAPEX and the expansion, I missed, what are we budgeting for FY23, as far as CAPEX is concerned? | And as long as there is new capacity addition and there is a quest for higher growth, prices could be under pressure. | During the year we have incurred CAPEX of approximately Rs.2,664 crores with a majority of being spent on the before mentioned projects. | Central and state Capex has also been increasing year-on-year. |
| Capital allocation | In line with our vision to diversify and build the pan India Cement Company, we have signed definitive agreement for acquisition of cement assets of J… | With growth slowing down the world over, India's demographic dividend will help us shine for not only this decade, but many, many decades to come. | — | For the Northeast clinker unit which got commissioned recently, are we planning any split grinding units in Bihar like some of your peers are already … | — | And this INR3,500 crores, which you are targeting for the acquisition, that is only for the Phase 1 acquisition or that includes even the 4.2 million … | Lastly, in line with the capital allocation framework the board has proposed a final dividend of Rs. | — |
| Costs | In terms of the cost, due to the higher cost in the input materials, the raw material cost remained on the higher side at Rs. | Breaking into each head, our raw material costs remained flattish at INR781 per ton of cement production. | Our raw material costs during Q3 marginally declined by 2% to INR765 per ton of cement production on a Y-o-Y basis due to reduction in input costs, ma… | Bharat Limited Dalmia Bharat Limited January 21, 2026 Our raw material cost per ton of production increased only by 2% YOY to Rs. | So, is it possible to share some more quantification on the cost inflation that we are seeing at least for 1Q. | So there is no question from the cost savings. | The second question is overall on the next 2 years cost saving which we are spelling out at around Rs. | Raw material cost per ton of production reduced by 1% YoY to INR734 per ton. |
| Debt and cash | So, sir, basically you include the impact of investment in IEX, while we don’t include the investments in Dalmia Bharat Sugar and Dalmia Refractory in… | As a result, the net debt of the company has decreased by INR1,069 crore to INR431 crores in this quarter. | And sir, my second question is on net debt. | 6,844 crores, while net debt stood at Rs. | It could be volatility as we go along, because for example, the energy prices are so much, I mean that has bitten our cash flows and the returns. | And peak debt to be about around INR9,000 crores and net debt around INR5,000 crores or so by end of the year. | Yes, and just related to this is IEX related monetization, I understand net debt is fairly comfortable now, but that is mark-to-market the IEX value. | So I think we have just deferred our cash flows a bit, and that is sitting in our liabilities and that should get sorted in the next couple of few mon… |
| Demand | I believe that Infra and housing will drive a robust growth in cement demand over many decades. | Cement, as a sector, will be a direct beneficiary of the India growth story, and cement demand should continue to grow higher than the GDP growth rate… | We share our cement volume numbers and our CC ratio keeps changing, depending upon what's the demand in the market and what product mix we sell. | Northeast as a region has been very promising in terms of demand growth and offers one of the best profitability among the regions. | Two questions, first, we have seen large inflation across all construction materials be it cement or to an extent lesser for cement, but more for stee… | So that was the idea that there should be a demand pull through brand, better strength of the brand rather than need to push sales through discounting… | Just wanted to understand is North East is going on the same trajectory as East, where capacity, growth might outpace demand and hence there will be p… | During the year, India's macroeconomic fundamentals have demonstrated confidence, driven by robust consumption and investment demand. |
| Guidance | As I said that we are at the cusp of inflection point at Dalmia, and we are very excited about the future of India and future of Dalmia, so look forwa… | We expect our RE percentage to now be back to the normal levels in Q4. The freight cost declined by 2% Y-o-Y to INR1,091 per ton with reduction in lea… | We expect to exit FY'25 with about 40% to 45% RE power share in our overall power mix on consumption basis. | As we look forward to Quarter 4, we expect positive momentum to continue on demand, whereas margins are likely to get supported with better prices. | First, on the cost front, so overall very good cost management during the quarter, just want to understand what sort of cost inflation do we expect in… | I think this process is undergoing and progressing quite well, although there are some procedural delays, and we expect that this should get consummat… | See the prices have gone up and we expect some marginal increase in the per kcal cost blended cost which I had mentioned. | Both of these will continue to guide our actions as we take Dalmia from strength to strength. -4! |
| Margin | Continual optimization of costs is an integral part of our DNA and this has once again let us to deliver one of the lowest total cost per ton and thus… | On the cost side, stabilization of commodity prices has given some headway in margin recovery. | Our EBITDA during the quarter declined by 34.5% Y-o-Y to INR511 crores, primarily due to weak cement prices. | 823 per ton, while absolute EBITDA was at Rs. | So, it will be the function of prices in the market, the energy costs that will decide but at the same time we have got, yes the incentive available w… | So will that growth come at a significant lower margins or INR1,000 EBITDA margin, which the company has historically delivered? | Net debt as on 31st March was Rs.716 crores and the resultant net debt to EBITDA is at 0.3X. | In financial year 26, we delivered our best-ever EBITDA of Rs 3,083 crores and a PAT of Rs 1,157 crores. |
| People | Even as we grow further, amongst other things, our financial priorities will include improving our capacity utilization, sustenance of our total cost … | Also it's running at low utilization right now because initially in the earlier few quarters, there was a lot of transition- related issues where the … | And in terms of what would be your clinker utilization for the 9-month period at least or maybe Q3? | Look, the all-India capacity utilization of the sector is around 70%. | And just another question on capacity utilization. | So utilization levels should go up gradually. | And just one last question on overall utilizations. | For all these new investments, our priority remains to increase capacity utilization as fast as possible. |
| Pricing | So, I was asking regarding there is a pertinent improvement in pricing in Eastern market in past 3 to 5 months that sort of continued into first quart… | This is indeed one of the best times for our sector, and increasing consolidation will potentially lead to a more stable pricing scenario in the secto… | I just wanted to understand that in the last few quarters, there's been a lot of volatility, some quarters higher growth than the peers and lower pric… | Second point is, if I look at pricing, the pricing in East India and South also declined more than the adjustment for GST post 22nd September. | So, what does it mean for the pricing in each of the sectors or each of region it operates, so I think this will definitely change some of the dynamic… | And sir, secondly, related to this, what is giving us confidence that pricing should bounce back in H2? | So, there could be some upward price increase but it's difficult to gauge as of now. | April 28, 2026 on through the price increase. |
| Revenue growth | Friends, let me start by saying that we have once again delivered an industry leading volume growth of 11.5% Y-o-Y to 6.3 million tons and our revenue… | Last year, we grew at 16% volume, our revenue growth was 20% in line with what we had guided for. | And there is the demand growth at this point in time is not supporting a large volume expansion. | The Indian economy has demonstrated strong resilience despite the geopolitical headwinds and registered a GDP growth of 8.2% in Q2. The Reserve Bank o… | But on the volume side, I am not seeing a significant headwinds, I just see like, last year growth was 7% I think this year should be better than last… | Or will this growth of 15% to 16% CAGR for the next 6, 7 years can lower to 12%, 13%? | Your volume growth was 4% on a YoY basis. | April 28, 2026 Moving to our performance for the year, we have closed the year with 2% volume growth and 6% revenue growth. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2022-08-09 | Q1FY23 | TRANSFORMATION OFFICER, DALMIA BHARAT | While operationally we continue the great work by our team, on the CAPEX side, the ongoing committed expansion plan up to 49 million tons is intact and remains on track for completion by March 24. |
| 2024-01-30 | Q3FY24 | – DALMIA BHARAT LIMITED | As I was mentioning, we continue to work firmly on our vision of building a pan-India pure- play cement company of 110 million to 130 million tons by 2031, with an interim milestone of 75 million tons by FY27. While we would take an additional quarter to announce the details of the 75 million ton plan, we are on track to deliver our first milestone of 49 million tons by March '24. |
| 2024-10-22 | Q2FY25 | DALMIA BHARAT LIMITED | On the capacity side, we are currently at 46.6 million tons and on track to reach 49.5 million tons by the end of financial year '25. |