Share price of this mid-cap stock engaged in manufacturing and selling of cement moved down by 9.82 percent on BSE to hit an intraday low at Rs. 1,766.75 in the trading session of Thursday, after reporting Q4FY24 results with a fall in net profit by 47 percent.
With a market capitalisation of Rs. 34,002.4 crore, at 12:31 p.m., the shares of Dalmia Bharat Limited were trading in the red at Rs. 1,799.15, down by 8.17 percent.
The fluctuations in the share prices were observed after the company announced its financial results on Wednesday for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The revenue from operations of Dalmia Bharat stood at Rs. 4,307 in Q4 FY23-24 representing an increase of 10.01 percent YoY from Rs. 3,915 crore in Q4 FY22-23 and 19.5 percent increase QoQ from Rs. 3,604 in Q3 FY23-24.
Though the net profit of the leading cement manufacturing company grew by 20.3 percent QoQ from Rs. 266 crore in Q3 FY23-24 to Rs. 320 crore in Q4 FY23-24, it fell by 47.4 percent YoY from Rs. 609 crore in Q4 FY22-23.
Further, the after-tax profit decreased by nearly 21 percent from Rs. 1,079 crore in FY22-23 to Rs. 853 crore in FY23-24, while the revenue from operations increased by 8.4 percent from Rs. 13,552 crore to Rs. 14,691 crore, during the same period.
The Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) also declined by 7.8 percent YoY to Rs. 654 crore in Q4 FY23-24 but increased 13.4 percent YoY in FY24 to Rs. 2,639 crore.
The installed cement capacity of the company increased by 15.6 percent on a year-on-year basis to 44.6 million tonnes and is one of the lowest carbon footprints in global cement at 460 kgCO2/Ton of Cement.
Earlier this month, Dalmia entered into a Share Purchase Agreement, Deed of Accession and Power Purchase Agreement, to acquire 18.13 percent of the equity share capital of O2 Renewable Energy V Private Limited, in one or more tranches to source wind power as a captive consumer for a capacity up to 11 MW.
Moreover, the Board of the company has recommended a final dividend of Rs. 5 per share for FY24.
The company has delivered negative returns of about 13.2 percent in the last six months, and nearly 7.1 percent in the last one year. So far in 2024, it has given around 24.3 percent of negative returns.
Founded in 1939, Dalmia Bharat Limited is engaged in the business of manufacturing and selling of cement and is India’s fourth largest cement manufacturer by installed capacity.
Written by Shivani Singh
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