Dalmia Bharat Ltd
Dalmia Bharat is engaged in the business of Manufacturing and Selling of Cement. The company was started in 1939 and is the 4th largest cement manufacturer by installed capacity in India.[1]
- Market Cap ₹ 36,810 Cr.
- Current Price ₹ 1,962
- High / Low ₹ 2,496 / 1,717
- Stock P/E 252
- Book Value ₹ 415
- Dividend Yield 0.46 %
- ROCE 2.56 %
- ROE 2.36 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 109%
Cons
- Stock is trading at 4.73 times its book value
- The company has delivered a poor sales growth of 5.99% over past five years.
- Tax rate seems low
- Company has a low return on equity of 2.07% over last 3 years.
- Earnings include an other income of Rs.111 Cr.
- Working capital days have increased from 176 days to 501 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 103 | 125 | 164 | 151 | 148 | 135 | 132 | 130 | 202 | 334 | |
| 0 | 0 | 86 | 113 | 126 | 128 | 133 | 114 | 118 | 113 | 179 | 278 | |
| Operating Profit | 0 | 0 | 17 | 12 | 38 | 23 | 15 | 21 | 14 | 17 | 23 | 56 |
| OPM % | 16% | 10% | 23% | 15% | 10% | 16% | 11% | 13% | 11% | 17% | ||
| 0 | 0 | 65 | 91 | 87 | 143 | 41 | 184 | 200 | 115 | 189 | 111 | |
| Interest | 0 | 0 | 21 | 5 | 2 | 4 | 11 | 4 | 3 | 4 | 1 | 5 |
| Depreciation | 0 | 0 | 4 | 4 | 4 | 9 | 11 | 6 | 6 | 5 | 6 | 18 |
| Profit before tax | 0 | 0 | 57 | 94 | 119 | 153 | 34 | 195 | 205 | 123 | 205 | 144 |
| Tax % | 30% | 23% | 15% | 12% | 26% | 6% | 5% | 9% | 7% | |||
| 0 | 0 | 40 | 72 | 101 | 135 | 25 | 183 | 195 | 112 | 190 | 144 | |
| EPS in Rs | 0.00 | 0.00 | 8,000.00 | 14,400.00 | 5.23 | 7.00 | 1.34 | 9.77 | 10.40 | 5.97 | 10.13 | 7.69 |
| Dividend Payout % | 0% | 7,855% | 39% | 29% | 98% | 91% | 85% | 153% | 90% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 14% |
| TTM: | 114% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | -3% |
| TTM: | 18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 0% |
| 1 Year: | 0% |
| Return on Equity | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 2% |
| 3 Years: | 2% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 0.05 | 6,654 | 39 | 39 | 37 | 37 | 37 | 38 | 38 | 38 |
| Reserves | -0 | -0 | 809 | 859 | 7,541 | 7,603 | 7,463 | 7,956 | 7,811 | 7,762 | 7,800 | 7,738 |
| 0 | 0 | 200 | 2 | 2 | 19 | 205 | 5 | 3 | 5 | 12 | 25 | |
| 0 | 0 | 6,817 | 231 | 100 | 52 | 72 | 116 | 96 | 101 | 163 | 156 | |
| Total Liabilities | 0 | 0 | 7,826 | 7,746 | 7,682 | 7,713 | 7,777 | 8,114 | 7,947 | 7,906 | 8,013 | 7,957 |
| 0 | 0 | 0 | 74 | 72 | 90 | 73 | 72 | 68 | 66 | 71 | 99 | |
| CWIP | 0 | 0 | 0 | 1 | 7 | 2 | 1 | 0 | 0 | 0 | 12 | 2 |
| Investments | 0 | 0 | 7,162 | 7,066 | 7,113 | 7,042 | 7,091 | 7,521 | 7,346 | 7,354 | 7,385 | 7,733 |
| 0 | 0 | 664 | 605 | 490 | 579 | 612 | 521 | 533 | 486 | 545 | 123 | |
| Total Assets | 0 | 0 | 7,826 | 7,746 | 7,682 | 7,713 | 7,777 | 8,114 | 7,947 | 7,906 | 8,013 | 7,957 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 | -198 | -187 | -12 | 40 | -11 | 11 | 30 | 39 | |||
| 15 | 431 | 225 | 205 | 70 | 305 | 242 | 68 | 131 | |||
| -33 | -231 | -31 | -91 | -217 | -299 | -174 | -175 | -172 | |||
| Net Cash Flow | 0 | 2 | 7 | 102 | -107 | -5 | 79 | -77 | -2 | ||
| Free Cash Flow | 20 | -199 | -196 | -14 | 39 | -14 | 9 | 30 | 38 | ||
| CFO/OP | 100% | -1,183% | -453% | 26% | 253% | 105% | 171% | 147% | 222% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 64 | 116 | 41 | 32 | 24 | 36 | 31 | 38 | ||
| Inventory Days | |||||||||||
| Days Payable | |||||||||||
| Cash Conversion Cycle | 46 | 64 | 116 | 41 | 32 | 24 | 36 | 31 | 38 | ||
| Working Capital Days | 1,435 | 1,075 | 737 | 810 | 757 | 257 | -6 | 34 | 501 | ||
| ROCE % | 0% | 15% | 2% | 1% | 2% | 1% | 3% | 3% | 2% | 3% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Installed Cement Capacity MTPA |
|
||||||||||
| Sales Volume MnT |
|||||||||||
| Cement-to-Clinker Ratio X |
|||||||||||
| Direct Dispatches Share % |
|||||||||||
| Renewable Energy Share % |
|||||||||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - In furtherance to our earlier intimation dated April 16, 2026, regarding investors/analyst group conference call scheduled for April 28, 2026, pursuant to the provisions of …
-
Release Of Attached Properties Of The Dalmia Cement (Bharat) Limited, Material Subsidiary Of The Company
22 Apr - ED released Dalmia Cement's attached land parcels on April 21, 2026; alleged POC reduced to Rs.92.52 crore.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
16 Apr - An investors/analysts group conference call on the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026, …
-
Board Meeting Intimation for Intimation Of Board Meeting Scheduled To Be Held On Tuesday, April 28, 2026
16 Apr - Board meets on April 28, 2026 to approve FY26 results and consider final dividend.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended March 31, 2026.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2010
from bse
Concalls
-
Jan 2026Transcript PPT
-
Nov 2025Transcript PPT
-
Oct 2025TranscriptAI SummaryPPT
-
Aug 2025Transcript PPT
-
Jul 2025TranscriptAI SummaryPPT REC
-
Jul 2025TranscriptAI SummaryPPT
-
May 2025Transcript PPT REC
-
Apr 2025TranscriptAI SummaryPPT
-
Apr 2025TranscriptAI SummaryPPT
-
Feb 2025Transcript PPT
-
Jan 2025TranscriptAI SummaryPPT
-
Nov 2024Transcript PPT
-
Oct 2024TranscriptAI SummaryPPT
-
Aug 2024Transcript PPT
-
Jul 2024TranscriptAI SummaryPPT
-
May 2024Transcript PPT
-
Apr 2024TranscriptAI SummaryPPT
-
Feb 2024Transcript PPT
-
Jan 2024TranscriptAI SummaryPPT
-
Oct 2023Transcript PPT REC
-
Oct 2023TranscriptAI SummaryPPT
-
Aug 2023Transcript PPT
-
Jul 2023TranscriptAI SummaryPPT
-
Jun 2023TranscriptAI SummaryPPT
-
May 2023Transcript PPT
-
Mar 2023TranscriptPPT
-
Feb 2023Transcript PPT
-
Feb 2023TranscriptAI SummaryPPT
-
Nov 2022TranscriptAI SummaryPPT
-
Nov 2022Transcript PPT
-
Nov 2022TranscriptAI SummaryPPT
-
Aug 2022Transcript PPT
-
Aug 2022TranscriptAI SummaryPPT
-
Jun 2022Transcript PPT
-
May 2022TranscriptAI SummaryPPT
-
Sep 2021TranscriptAI SummaryPPT
-
Jul 2021Transcript PPT
-
Apr 2021TranscriptPPT
Leadership
Dalmia is the 4th largest cement manufacturing company in India. [1]