Fourth Largest cement manufacturer by installed capacity in India gained 2 percent after the company announced robust Q2FY24 business update and declared an Interim dividend of Rs. 4 per equity share
At 2:00 p.m the shares of Dalmia Bharat were trading at Rs. 2,341 up 2 percent from its previous day close price and the market capitalization of the company is 43,816 Crore.
As per the company’s filing, Dalmia Bharat has released its Q2FY24 business update and it is as follows.
For the quarter ended september 2023, Dalmia Bharat’s net profit grew 161 percent YoY from 47 Crore in Q2FY23 to 121 Crore in Q2FY24, the sales volume grew 6.6 percent from 5.8 MnT in Q2FY23 to 6.2 MnT in Q2FY24, the company’s income from operations grew 6 percent from 2,971 Crore in Q2FY23 to 3,149 Crore in Q2FY24 and the EBITDA grew 55.2 percent from 379 Cr in Q2FY23 to 589 Cr in Q2FY24
In addition to this, Mr. Puneet Dalmia, Managing Director & CEO of Dalmia Bharat has commented that it sees a multi‐year strong cement demand trend continuing, as India is undergoing a large‐scale metamorphosis and in the last 3.5 years, Dalmia Bharat has added ~17.2 MnT cement capacity, which is ~65 percent growth over FY20 capacity. In line with its vision to reach 110 ‐ 130 Mnt by 2031.
Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, With the reduction in fuel prices, increased usage of Renewable power and improvement in KPIs, we were able to deliver 55% YoY improvement in our EBITDA, which stands at Rs 589 Cr.
Dalmia Bharat’s board has declared an interim dividend of Rs 4. Per equity share
According to its financial statements of the company its revenue increased by 19.97 percent from 11,286 Cr in FY22 to 13,540 Cr in FY23, accompanied by increasing profits of 837 Cr to 1,083 Cr.
The company reported a return on equity (ROE) of 6.84 percent and a return on capital employed (ROCE) of 8.09 percent, this indicates that the company is not making good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 55.86 percent stake, the Domestic Institutional Investors hold 8.97 percent and the Foreign Institutional Investors (FII) hold 13.88 percent.
Dalmia Bharat Limited is the fourth‐largest cement manufacturing company in India by installed capacity and it is engaged in the business of Manufacturing and Selling of Cement.
Written by: Bharath K.S
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