Dalmia Bharat LimitedQ1 FY27 Results & Financial Update

Dalmia Bharat Limited: Q1 FY27 consolidated results and company financials – revenue ₹3,890.00 Cr, PAT ₹192.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: DALBHARATPublished 18 Sep 2026Updated 5 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹3,890.00 CrReported Q1 FY27
Profit after tax₹192.00 CrReported Q1 FY27
EPS₹10.02Reported Q1 FY27

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Quarterly Results AnalysisExplore Dalmia Bharat Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.

Quarter overview

Quarterly earnings analysis

01

Dalmia Bharat Limited delivered a resilient performance during the quarter ended June 30, 2026, overcoming temporary market disruptions driven by state elections.

02

Sales volume for the quarter advanced by 9% year-over-year to reach 7.6 million metric tons, while revenues from operations rose 7% year-over-year to Rs 3,890 crore.

03

Profitability at the headline level was impacted by exceptional items, with profit before tax (PBT) coming in at Rs 254 crore and profit after tax (PAT) at Rs 192 crore; exceptional charges primarily reflected acquisition-related costs for the Central region cement assets.

04

EBITDA stood at Rs 805 crore, while EBITDA per ton improved sequentially to Rs 1,055, supported by healthy price increases and focused cost-efficiency initiatives.

05

The quarter marked a major strategic milestone with the completion of the acquisition of Jaiprakash Associates' cement undertaking, adding 5.2 MnTPA of capacity in the Central region.

06

Net debt to EBITDA ratio stood at 1.47x, reflecting disciplined capital allocation and modest leverage despite the large corporate acquisition.

07

Profit after tax was ₹192.00 Cr for the reported quarter. EPS was ₹10.02 for the reported quarter.

01 · Business model

What does Dalmia Bharat do?

Dalmia Bharat Limited, founded in 1939 and headquartered in New Delhi, is one of India's pioneering and leading cement manufacturing companies.

With a total installed capacity of 54.7 million metric tons per annum (MnTPA) following recent expansions and acquisitions, the company stands as India's fourth-largest cement manufacturer by capacity.

Its operations span across 12 states and encompass 19 manufacturing units, with a prominent presence supported by a low carbon footprint globally and commitments to sustainability initiatives like RE100, EP100, and EV100.

The economic and operating model focuses on volume growth, strategic regional expansions, cost leadership practices, and operational excellence to capture robust long-term infrastructure demand in India.

02 · Historical context

What shaped the business before this quarter

Company Foundation

Founded in 1939, Dalmia Bharat Limited has grown over decades to become a pioneering cement manufacturer with a nationwide footprint.

Previous Regional Association

The company previously had operating associations with the Central region cement assets, providing a head start for integration following the acquisition.

03 · Financial snapshot

Current-quarter financial snapshot

MetricQ1 FY27
Revenue from operations₹3,890.00 Cr
Total income₹4,029.00 Cr
Profit before tax₹254.00 Cr
Profit after tax₹192.00 Cr
EPS₹10.02

04 · Why it moved

Why the quarter looked the way it did

What drove revenue

Volume Growth

Sales volume increased by 9% year-over-year to 7.6 million metric tons for the quarter.

Healthy Price Realisations

Supported by healthy price increases, revenue from operations grew 7% year-over-year to Rs 3,890 crore.

What drove margins

Sequential EBITDA per Ton Improvement

EBITDA per ton improved sequentially to Rs 1,055, helping offset near-term cost headwinds.

Operational Cost Management

Focused cost-efficiency initiatives across the business helped offset input cost pressures and deliver a robust total EBITDA of Rs 805 crore.

05 · Demand, customers & order book

Where demand is coming from

Infrastructure Demand Resilience

Sustained government focus on infrastructure development kept the long-term cement demand outlook constructive despite geopolitical uncertainties.

06 · Segments, products & geography

Which parts of the business are doing the work

Segments and products

Central Region Cement Assets

Successfully integrated 5.2 MnTPA of cement capacity and 3.3 MnTPA of clinker capacity acquired from Jaiprakash Associates.

Geography and market mix

Multi-State Footprint

Operations expanded across 12 states and 19 manufacturing units, with a major push into the Central region covering Madhya Pradesh and Uttar Pradesh.

07 · Capacity, projects & execution

What is being built, commissioned or delivered

Capacity, production and utilisation

Installed Capacity Expansion

Total installed cement capacity increased to 54.7 MnTPA following the acquisition of 5.2 MnTPA capacity in the Central region.

Chunar Grinding Unit

Commercial production successfully commenced at the 2.5 MnTPA Chunar Grinding Unit in June 2026.

Rewa Clinker Unit

Trial runs commenced at the 3.3 MnTPA Rewa Clinker Unit in July 2026.

Projects, capex and execution

Central Region Asset Acquisition

Completed the acquisition of Jaiprakash Associates' cement undertaking across Madhya Pradesh and Uttar Pradesh at an enterprise value of Rs 2,850 crore.

08 · Strategy & new businesses

How the company is trying to change its growth mix

Captive Hybrid Power Partnership

Entered into agreements to acquire a 41% stake (26% on a fully-diluted basis) in Oyster Green Hybrid Five Private Limited for approximately Rs 17 crore to source captive wind and solar hybrid power for the Kadapa plant.

09 · Reported developments

What changed operationally

Strong Volume Expansion

Delivered robust volume growth of 9% YoY despite temporary disruptions from state elections.

National Sustainability and Safety Recognitions

Received multiple accolades during the quarter, including CII-ITC Sustainability Awards for CSR excellence, FAME India Awards for health and safety, and Kalinga Environment Excellence awards.

10 · Pressure points & risks

What is not going smoothly

Temporary Disruption

State elections created temporary ground disruptions affecting near-term operating cadence during the period.

Cost Pressures

Near-term cost headwinds persisted during the quarter, putting pressure on standalone profitability lines.

11 · Items worth noticing

The line items that can distort a quick read

Acquisition-Related Costs

Q1 FY27 PBT and PAT were impacted by exceptional items primarily comprising acquisition-related costs pursuant to the Central cement assets.

12 · Management guidance & targets

What management is targeting from here

Capacity Ramp-up

Management's immediate endeavor is a swift ramp-up of the newly acquired Central region assets and embedding Dalmia's cost leadership practices to unlock superior returns.

13 · Beyond the numbers

What changed beyond the numbers

Reported update

CII-ITC Sustainability Award

The company was commended for 'Significant Achievement' in the Manufacturing sector under Excellence for Corporate Social Responsibility.

Reported update

Environmental and Safety Honors

Multiple units won FAME India Awards for health, safety, and environment, alongside 5-star Kalinga Environment Excellence awards.

14 · Key Q&A

The quarter, answered directly

What does Dalmia Bharat do?

Dalmia Bharat Limited, founded in 1939 and headquartered in New Delhi, is one of India's pioneering and leading cement manufacturing companies.

What is the clearest takeaway from Q1 FY27?

Dalmia Bharat Limited delivered a resilient performance during the quarter ended June 30, 2026, overcoming temporary market disruptions driven by state elections.

What drove revenue or demand?

Sales volume increased by 9% year-over-year to 7.6 million metric tons for the quarter.

What mattered most for margins or profitability?

EBITDA per ton improved sequentially to Rs 1,055, helping offset near-term cost headwinds.

What changed operationally beyond the headline numbers?

Total installed cement capacity increased to 54.7 MnTPA following the acquisition of 5.2 MnTPA capacity in the Central region.

What is management guiding or targeting from here?

Management's immediate endeavor is a swift ramp-up of the newly acquired Central region assets and embedding Dalmia's cost leadership practices to unlock superior returns.

15 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

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16 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Central Region Integration: Monitor the pace of operational ramp-up and synergy realization from the newly acquired 5.2 MnTPA Central region cement assets.

  2. 02

    Rewa Clinker Unit Commissioning: Track the successful transition of the Rewa Clinker Unit from its trial run stage into full commercial production.

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