Dalmia Bharat Reports Strong Q1 FY26 Performance With Record EBITDA

Dalmia Bharat Limited (BSE: 542216, NSE: DALBHARAT), one of India’s leading cement manufacturers, has announced its consolidated financial results for the quarter ended June 30, 2025 (Q1 FY26), marking a robust start to the fiscal year with record operational and financial performance.

Financial Highlights for the Quarter ended June 30, 2025
(Figures in Rs. Crores)

Particulars	Q1FY26	Q1FY25	YoY
Sales Volume (MnT)	7.0	7.4	(5.8%)
Income from Operations	3,636	3,621	0.4%
EBITDA	883	669	31.9%
EBITDA (Rs/T)	1,261	901	40.0%
PAT	395	145	172.4%
Net Debt to EBITDA (x)	0.33x	0.17x

Q1 FY26 Key Highlights:

• Record Quarterly EBITDA: ₹883 crore – Highest-ever in company history

• Sales Volume: 7.0 MnT

• Net Sales Realization (NSR): ₹5,193/T, up 6.6% YoY

• EBITDA per Tonne: ₹1,261/T, up 40% YoY

• EBITDA Margin: 24.3% – an increase of 5.8 percentage points YoY

• Net Debt to EBITDA: Improved to 0.33x

• Renewable Power Usage: 41.2% of total power; total RE capacity at 294 MW

Strategic Capacity Expansion:

• In addition to the 6 MnTPA cement expansion announced at Belgaum in February 2025, the company has now committed to a further ₹3,287 crore investment for expanding its Kadapa plant (Andhra Pradesh):

• 3.6 MnTPA clinker unit

• 6 MnTPA grinding unit

• 3 MnTPA bulk terminal in Chennai, Tamil Nadu

• Commissioning expected by Q2 FY28

• These projects are part of the ₹6,800 crore capital expenditure planned in CY2025 to add 12 MnTPA cement capacity across South and West India.

Leadership Commentary:

Mr. Puneet Dalmia, Managing Director & CEO, said: “In the backdrop of strong economic fundamentals, robust government-led capex, and increasing industry consolidation, we remain focused on becoming a Pan-India player. Our continued investments and resilient financials position us well for the next phase of growth.”

He added, “The recovery in cement realizations this year has helped deliver robust EBITDA growth and margin expansion.”

Mr. Dharmender Tuteja, CFO, noted: “While revenues grew modestly at 0.4% YoY, our EBITDA rose sharply by 32% YoY to ₹883 crore. Backed by a strong balance sheet and disciplined capital allocation, we are well on course toward our long-term growth vision.”

Other Key Developments

• Divestment of Non-Core Asset: Dalmia Cement Bharat Ltd. divested a 4.1% stake in Indian Energy Exchange Ltd (IEX), reducing total group holding to 10.8% as of June 30, 2025.

• Sustainability Milestone: Commissioned additional 26 MW of renewable energy under group captive model, taking total RE capacity to 294 MW.

• ESG Recognition: ICRA upgraded Dalmia Bharat’s Combined ESG Rating to 80 (Exceptional) – among the highest in the Indian cement sector.

Awards & Recognitions:

• Dalmiapuram Unit: Certificate of Appreciation from National Safety Council of India (NSCI) for Occupational Safety & Health

• Belgaum Mines (Yadwad & Kunnal): First prize for Overall Performance and Sustainable Waste Management

• Lanka Grinding Unit II: Recognized for Excellence in Safety during lifting of 221-ton Clinker dome

• Dalmia Bharat Foundation: Received CRISIL’s highest VO 1A grading for outstanding CSR execution and financial prudence