Dalmia Bharat Limited DALBHARAT NIFTY_MIDNSEINFRA

Basic Materials · Building Materials · India

https://www.dalmiabharat.com

Dalmia Bharat Limited, together with its subsidiaries, manufactures and sells cement and its related products primarily in India. It offers ordinary Portland cement (OPC), Portland pozzolana cement (PPC), Portland composite cement (PCC), and Portland slag cement (PSC) under the Dalmia DSP Cement, Dalmia Cement, Dalmia Supreme, Konark Cement, InfraPro Cement, and InstaPro Cement brand names. The company also provides Dalmia Magic Premium Skim Coat, a natural colour tone alternative to wall putty; Dalmia Magic FIBROTHICK, a versatile cement based micro-texture; Dalmia Magic Premium Ceilingfast, a fiber polymer modified cement-based plaster; Dalmia Magic INNOBOND, a versatile thin-set block jointing mortar for thin bed applications; Dalmia Magic INNOFIX, a versatile adhesive material for very thin bed applications; and Dalmia Infra Green products. It serves institutional and commercial establishments, individual home builders, and government bodies engaged in infrastructure development. The company was formerly known as Odisha Cement Limited and changed its name to Dalmia Bharat Limited in April 2019. Dalmia Bharat Limited was founded in 1939 and is headquartered in New Delhi, India.

Market & Price

Market Cap

₹32,818.75 Cr

Current Price

₹1,748.20

High / Low (52W)

₹2,471.56 / ₹1,706.80

Beta

0.20

Valuation

Stock P/E

28.73

Industry PE

23.81

Forward P/E

22.80

PEG Ratio

Book Value

₹946.26

Price to Book

1.85

P/S

2.22

EV/EBITDA

11.33

Dividend Yield

0.57%

Profitability & Returns

ROCE

6.98%

ROE

6.50%

ROA

3.41%

Profit Margin

7.69%

Op Margin

12.65%

EPS (Latest Qtr)

₹20.69

EPS (TTM)

₹60.84

Balance Sheet & Liquidity

Debt/Equity

0.41

Quick Ratio

1.10

Current Ratio

1.55

Debt

₹7,406.00 Cr

Total Assets

₹33,312.00 Cr

Current Assets

₹8,777.00 Cr

Working Capital

₹3,103.00 Cr

Ownership

Promoter Holding

60.49%

Chg in Prom Hold

FII / Inst Holding

24.76%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹34,920.54 Cr

Total Revenue (TTM)

₹14,804.00 Cr

EBITDA

₹3,083.00 Cr

Free Cash Flow

₹854.75 Cr

Operating Cash Flow

₹2,278.00 Cr

Shares Outstanding

₹18.76 Cr

Gross Margin

64.08%

Payout Ratio

14.80%

Growth (CAGR)

Revenue 5Y

3.80%

Profit 5Y

3.24%

Revenue (YoY)

3.80%

Earnings (YoY)

-10.80%

PROS

Generates positive free cash flow.

CONS

Trading 29.3% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	DALBHARAT Dalmia Bharat Limited NIFTY_MIDNSEINFRA	1,748.20	28.73	₹32,818.75 Cr	0.57%	6.98%	6.50%	3.80%	3.24%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	3,181.00 Cr	4,091.00 Cr	3,636.00 Cr	-	3,506.00 Cr	4,245.00 Cr
Cost of Revenue	-	1,570.00 Cr	1,138.00 Cr	1,139.00 Cr	1,265.00 Cr	1,600.00 Cr
Gross Profit	-	2,521.00 Cr	2,498.00 Cr	2,278.00 Cr	2,241.00 Cr	2,645.00 Cr
Operating Expenses	-	2,042.00 Cr	1,937.00 Cr	1,904.00 Cr	1,979.00 Cr	2,108.00 Cr
Operating Income	147.00 Cr	479.00 Cr	561.00 Cr	-	262.00 Cr	537.00 Cr
EBITDA	548.00 Cr	886.00 Cr	948.00 Cr	-	632.00 Cr	937.00 Cr
Interest Expense	101.00 Cr	105.00 Cr	108.00 Cr	-	118.00 Cr	132.00 Cr
Pretax Income	83.00 Cr	467.00 Cr	518.00 Cr	-	174.00 Cr	440.00 Cr
Tax Provision	17.00 Cr	28.00 Cr	123.00 Cr	-	46.00 Cr	45.00 Cr
Net Income	61.00 Cr	435.00 Cr	393.00 Cr	-	122.00 Cr	387.00 Cr
Diluted EPS	3.25	23.20	20.95	-	6.50	20.69

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	13,237.00 Cr	14,334.00 Cr	13,980.00 Cr	14,804.00 Cr
Cost of Revenue	-	8,238.00 Cr	8,695.00 Cr	5,113.00 Cr	5,142.00 Cr
Gross Profit	-	4,999.00 Cr	5,639.00 Cr	8,867.00 Cr	9,662.00 Cr
Operating Expenses	-	3,974.00 Cr	4,495.00 Cr	7,791.00 Cr	7,928.00 Cr
Operating Income	-	1,025.00 Cr	1,144.00 Cr	1,076.00 Cr	1,734.00 Cr
EBITDA	-	2,868.00 Cr	2,959.00 Cr	2,547.00 Cr	3,279.00 Cr
Interest Expense	-	228.00 Cr	385.00 Cr	399.00 Cr	480.00 Cr
Pretax Income	-	1,325.00 Cr	1,070.00 Cr	817.00 Cr	1,450.00 Cr
Tax Provision	-	242.00 Cr	216.00 Cr	118.00 Cr	292.00 Cr
Net Income	-	1,035.00 Cr	826.00 Cr	683.00 Cr	1,139.00 Cr
Diluted EPS	-	55.19	44.03	36.42	60.73

Compounded Sales Growth

5 Years:	3.80%
1 Year:	3.80%

Compounded Profit Growth

5 Years:	3.24%
1 Year:	-10.80%

Stock Price Performance

1 Year:	-14.46%
6 Months:	-12.99%
3 Months:	-15.55%
1 Month:	-8.89%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	25,543.00 Cr	27,749.00 Cr	30,226.00 Cr	33,312.00 Cr
Current Assets	-	7,350.00 Cr	7,856.00 Cr	8,329.00 Cr	8,777.00 Cr
Cash & Equivalents	-	234.00 Cr	341.00 Cr	149.00 Cr	212.00 Cr
Inventory	-	1,316.00 Cr	1,218.00 Cr	1,386.00 Cr	1,192.00 Cr
Receivables	-	700.00 Cr	836.00 Cr	889.00 Cr	864.00 Cr
Total Liabilities	-	9,799.00 Cr	11,242.00 Cr	12,726.00 Cr	15,189.00 Cr
Current Liabilities	-	4,460.00 Cr	4,474.00 Cr	5,223.00 Cr	5,674.00 Cr
Long Term Debt	-	3,210.00 Cr	4,431.00 Cr	4,605.00 Cr	6,168.00 Cr
Total Debt	-	3,855.00 Cr	4,805.00 Cr	5,702.00 Cr	7,406.00 Cr
Total Equity	-	15,628.00 Cr	16,397.00 Cr	17,374.00 Cr	17,979.00 Cr
Shares Outstanding	-	18.75 Cr	18.75 Cr	18.76 Cr	18.76 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	2,252.00 Cr	2,635.00 Cr	2,117.00 Cr	2,278.00 Cr
Investing Cash Flow	-	-2,326.00 Cr	-2,750.00 Cr	-2,270.00 Cr	-3,023.00 Cr
Financing Cash Flow	-	168.00 Cr	222.00 Cr	-39.00 Cr	808.00 Cr
Capital Expenditure	-	-2,709.00 Cr	-2,827.00 Cr	-2,664.00 Cr	-2,056.00 Cr
Free Cash Flow	-	-457.00 Cr	-192.00 Cr	-547.00 Cr	222.00 Cr
Net Change in Cash	-	94.00 Cr	107.00 Cr	-192.00 Cr	63.00 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	37.8%	39.3%	63.4%	65.3%
Operating Margin %	-	7.7%	8.0%	7.7%	11.7%
Net Margin %	-	7.8%	5.8%	4.9%	7.7%
ROE %	-	6.6%	5.0%	3.9%	6.3%
ROCE %	-	4.9%	4.9%	4.3%	6.3%

Shareholding Pattern

Insiders

60.49%

Institutions

24.76%

Public Float

62.65%

Analyst View

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DALBHARAT · Basic Materials