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.
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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
Dalmia Bharat Limited delivered a resilient performance during the quarter ended June 30, 2026, overcoming temporary market disruptions driven by state elections.
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.
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.
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.
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.
Net debt to EBITDA ratio stood at 1.47x, reflecting disciplined capital allocation and modest leverage despite the large corporate acquisition.
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
Founded in 1939, Dalmia Bharat Limited has grown over decades to become a pioneering cement manufacturer with a nationwide footprint.
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
| Metric | Q1 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
Sales volume increased by 9% year-over-year to 7.6 million metric tons for the quarter.
Supported by healthy price increases, revenue from operations grew 7% year-over-year to Rs 3,890 crore.
What drove margins
EBITDA per ton improved sequentially to Rs 1,055, helping offset near-term cost headwinds.
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
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
Successfully integrated 5.2 MnTPA of cement capacity and 3.3 MnTPA of clinker capacity acquired from Jaiprakash Associates.
Geography and market mix
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
Total installed cement capacity increased to 54.7 MnTPA following the acquisition of 5.2 MnTPA capacity in the Central region.
Commercial production successfully commenced at the 2.5 MnTPA Chunar Grinding Unit in June 2026.
Trial runs commenced at the 3.3 MnTPA Rewa Clinker Unit in July 2026.
Projects, capex and execution
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
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
Delivered robust volume growth of 9% YoY despite temporary disruptions from state elections.
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
State elections created temporary ground disruptions affecting near-term operating cadence during the period.
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
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
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
- 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.
- 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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